Module Code - Title:
EC4427
-
MANAGERIAL ECONOMICS
Year Last Offered:
2026/7
Hours Per Week:
Grading Type:
N
Prerequisite Modules:
Rationale and Purpose of the Module:
This module aims to provide students with insights into how economics can aid managerial decision making within firms that operate in an increasingly global environment. Reflecting the highly globalized nature of tastes, production, labour markets, and financial markets in today's world it provides tools for understanding managerial decision making from an economic perspective.
Syllabus:
The module provides tools for understanding managerial decision making under conditions of certainty and uncertainty (including risk analysis). It examines the nature of the firm in the global economy and different models of corporate governance. The module examines the application of economic principles to making production and cost decisions. It also explores decision making on the demand side of the firm by covering demand estimation and different models of pricing. The module also provides economic perspectives on the boundaries of the firm and outsourcing.
Learning Outcomes:
Cognitive (Knowledge, Understanding, Application, Analysis, Evaluation, Synthesis)
On successful completion of this module, students will be able to:
Describe different economic perspectives of the firm
Calculate optimal levels of the factors of production in order to achieve efficiency
Conduct contribution analysis
Estimate a demand function using ordinary least squares.
Interpret estimated relationships and set optimal prices
Conduct risk analysis and analyse decision making under conditions of uncertainty
Analyse decision making under conditions of risk and uncertainty
Evaluate economic perspectives on the firm and corporate governance
Affective (Attitudes and Values)
On successful completion of this module, students will be able to:
Explain how economics provides just one perspective of the firm
Evaluate different perspectives on corporate governance
Analyse how economics can contribute to understanding managerial decision making
Psychomotor (Physical Skills)
N/A
How the Module will be Taught and what will be the Learning Experiences of the Students:
The module is taught using the traditional lecture/tutorial structure. Students develop the skills to apply economic principles to practical managerial decision making. The students also learn to appreciate the limitations of economic perspectives and how economics complements other disciplinary perspectives on the firm. Students are exposed to recent and ongoing developments in economic perspectives of the firm including corporate governance and decision-making in relation to the boundaries of the firm and the make or buy decision.
Prime Texts:
Samuelson, W.F., Marks, S.G. and Zagorsky, J.L. (2025)
Managerial Economics
, Wiley
Other Relevant Texts:
Douma, S and Schreuder, H. (2017)
Economic Approaches to Decision Making
, Pearson
Brickley, J.A., Smith, C.W. and Zimmerman, J.L. (2021)
Managerial economics and organizational architecture
, Maidenhead : McGraw-Hill Education (7th ed)
Programme(s) in which this Module is Offered:
BACHELOR OF ARTS IN INTERNATIONAL BUSINESS
BACHELOR OF BUSINESS STUDIES
BACHELOR OF BUSINESS STUDIES WITH FRENCH
BACHELOR OF BUSINESS STUDIES WITH GERMAN
BACHELOR OF BUSINESS STUDIES WITH JAPANESE
BACHELOR OF BUSINESS STUDIES WITH SPANISH
BACHELOR OF SCIENCE IN ECONOMICS AND MATHEMATICAL SCIENCES
BACHELOR OF SCIENCE IN ECONOMICS AND MATHEMATICS
HIGHER DIPLOMA IN BUSINESS AND ENGLISH AS A FOREIGN LANGUAGE (PRE MASTERS STUDIES)
Semester(s) Module is Offered:
Autumn
Module Leader:
Eoin.Reeves@ul.ie