Program Objectives
This program covers the essential principles and tools of Managerial Economics, the application of microeconomics to management decisions. Students who master this material will be better prepared for leadership positions in business, not-for-profit, and government entities.
Managerial Economics is the application of economic theory and methodology to managerial decision making problems within various organizational settings such as a firm or a government agency. The emphasis in this course will be on demand analysis and estimation, production and cost analysis under different market conditions, forecasting and decision making under uncertainty. Students taking this course are expected to have had some exposure to economics and be comfortable with basic algebra.
At the end of this course the student will be able to:
Use the theory of the firm to model business organizations
Apply demand theory to establish the elasticity of demand
Use demand estimation to forecast demand trends and change
Apply production theory to manage production
Use cost theory to establish short and long run behavior
Describe market structures to establish market equilibrium
Use game theory to decide on strategies
Use pricing strategies to enable organizational coherence
Carry out investment analyses to manage assets and capital
Use macroeconomic principles to address market failures
Graduation RequirementsThe master's program with thesis spans four semesters, commencing from the semester when relevant courses are offered, excluding scientific preparation time, and can extend up to six semesters. Failure to complete credit courses, seminar, or thesis study within the allotted time results in dismissal from the Institute. To graduate, students must fulfill a course load of 60 ECTS credits, including at least 8 courses and seminars per academic semester. Successful completion of courses requires a grade of A, A-, B+, B, or B-. A failing grade (F) indicates unsuccessful completion. Following thesis examination, the jury decides acceptance, rejection, or amendments by majority vote. Rejection of the thesis leads to dismissal from the University, while correction requires re-defense within three months. Failure to pass the defense results in dismissal. Students rejected can opt for a non-thesis master's degree if they fulfill the requirements.