Economics for Managers
level of course unit
2. Study cycle, Master
Learning outcomes of course unit
The students are able to:
• apply economic concepts and methods to business-related management issues.
• determine the revenue-maximizing pricing strategy based on demand elasticity.
• identify and evaluate techniques for the empirical estimation of demand.
• discuss the consequences of market forms such as monopoly or monopolistic competition and to develop appropriate strategies for profit maximization.
• analyze the effects of digital technologies on the supply or demand side and assess the consequences of network effects.
prerequisites and co-requisites
• Market model and demand elasticity
• Economies of scale and network externalities
• Perfect competitive market, monopoly and monopolistic competition
• Pricing and profit maximization
• Digital technologies and market concentration
recommended or required reading
• Farnham, Paul: Economics for Managers. Pearson (latest edition)
• Baye, Michael; Prince, Jeff: Managerial Economics & Business Strategy. Mcgraw-Hill Series Economics (latest edition)
• Allen, W. Bruce; Weigelt, Keith; Doherty, Neil A.; Mansfield, Edwin: Managerial Economics: Theory, Applications, and Cases. W. W. Norton & Company (latest edition)
assessment methods and criteria
Term paper, presentation, exam
language of instruction
number of ECTS credits allocated
eLearning quota in percent
planned learning activities and teaching methods
semester/trimester when the course unit is delivered
name of lecturer(s)
Prof. (FH) Dr. Peter Dietrich
year of study
course unit code
type of course unit
mode of delivery