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15.024

Applied Economics for Managers

3-0-6 units · Graduate

Develops facility with concepts, language and tools of micro economics. Primary focus on the analysis of markets, strategic interactions among firms and game theory as applied to firms. Emphasizes integration of theory, data, and judgment in the analysis of a wide range of corporate decisions, both between and within firms. Restricted to Sloan Fellow MBAs.

Summer 2004

Topics

  • Choice, Efficiency, and the Basic Demand and Supply Model
  • Behind Demand and Supply Curves
  • Monopoly, Imperfect Competition, Pricing Tactics
  • Monopolistic Competition and Oligopoly, Elements of Strategy
  • Externalities and Public Goods
  • Uncertainty and Information
  • Market Lessons and Organizational Architecture, Group Decision Making
  • International Trade Issues
  • Equity and Income Distribution

Readings

  • The reading is primarily from the course textbook, referred to in the table below as “Parkin”: Parkin, Michael. Microeconomics. 6th ed. Sydney: Addison-Wesley Publishing, 2004. ISBN: 0321226577.
    Listed reading
  • Parkin. Chapters 1-4.
    Listed reading
  • Pollakowski, Henry O. “Life After Rent Control: A Case Study.” The New York Times, 14 June 1997.
    Listed reading
  • Parkin. Chapter 12.
    Listed reading
  • Pepall, Lynne, Daniel J. Richards, and George Norman. Industrial Organization: Contemporary Theory and Practice. South-Western, 2001, Chapter 3 and pp. 16-39. ISBN: 0324067720.
    Listed reading
  • Shapiro, Carol, and Hal R. Varian. Information Rules: A Strategic Guide to the Network Economy. Harvard Business School Press, 1998, Chapters 2 and 3. ISBN: 087584863X.
    Listed reading
  • Parkin. Chapter 13.
    Listed reading
  • Pepall, Lynne, Daniel J. Richards, and George Norman. Industrial Organization: Contemporary Theory and Practice. South-Western, 2001, Chapter 5. ISBN: 0324067720.
    Listed reading
  • Dixit, Avinash K., and Barry J. Nalebuff. Thinking Strategically: The Competitive Edge in Business, Politics, and Everyday Life. W. W. Norton & Company, 1993, Chapter 1. ISBN: 0393310353.
    Listed reading
  • Parkin. Chapter 16.
    Listed reading
  • Shapiro, Carol, and Hal R. Varian. Information Rules: A Strategic Guide to the Network Economy. Harvard Business School Press, 1998, Chapter 7. ISBN: 087584863X.
    Listed reading
  • Parkin, Michael. Microeconomics. 5th ed. Addison-Wesley Publishing, 1999, Chapter 21. ISBN: 0201637839. (Note the different edition.)
    Listed reading
  • Megginson, William. Corporate Finance Theory. Pearson Education, 1997, pp. 93-109.
    Listed reading
  • LEC #: 17-18 · TOPICS: Market Lessons and Organizational Architecture, Group Decision Making · READINGS: Brickley, James A., Clifford W. Smith, and Jerold L. Zimmerman. Managerial Economics and Organizational Architecture. McGraw-Hill/Irwin, 2003, Chapter 10. ISBN: 0072828099.
    Reading assignment
  • Parkin. Chapter 19.
    Listed reading
  • Krugman, Paul R. “What Do Undergrads Need to Know About Trade?” American Economic Review 83, no. 2 (May 1993): 23-26.
    Listed reading
  • Parkin. Chapters 14 and 15.
    Listed reading
  • Council of Economic Advisers. “Inequality and Economic Rewards.” Chapter 5 in Economic Report of the President. Washington, DC: U.S. Government Printing Office, 1997. Available at the Web site of the Budget of the United States Government: Fiscal Year 1998 (PDF) . ↗
    Listed reading
  • The reading is primarily from: Parkin, Michael. Microeconomics. 6th ed. Sydney: Addison-Wesley Publishing, 2004. ISBN: 0321226577. Some selected additional readings are found in the course packet provided by the Sloan Fellows Program.
    Listed reading

Prerequisites & course information

Prereq: Permission of instructor G (Summer) 3-0-6 units Credit cannot also be received for 15.722

Sources