Duration
45h Th
Number of credits
| Executive Master in industrial Management | 7 crédits |
Lecturer
Language(s) of instruction
English language
Schedule
Units courses prerequisite and corequisite
Prerequisite or corequisite units are presented within each program
Learning unit contents
- Introduction of economics:
- The world of Economics
- Why study Economics?
- The methods of Economics
- How to study Economics?
- The concept of opportunity cost
- Economic systems
- Specialization and exchange
- Supply and Demand
- Demand
- Supply
- Putting supply and demand together
- What happens when things change?
- Government intervention in markets
- Price elasticity of demand
- Other demand elasticities
III. Consumer choice
- The budget constraint
- The consumer’s goal
- Preferences
- Consumer decision making
- What happens when things change?
- Consumers in market
- Production and cost
- Thinking about production
- Production in the short run
- Thinking about cost
- Cost in the short run
- Production and cost in the long run
- How firms make decisions: profit maximization
- Understanding profit
- The firm’s constraints
- The profit - maximizing output level
- The importance of marginal decision making: a broader view
- Dealing with losses
- The goal of the firm revisited
- Perfect competition
- The perfectly competitive firm
- Competitive markets in the short run
- Competitive markets in the long run
- What happens when things change?
VII. Monopoly
- What is a monopoly?
- The source of monopoly
- Monopoly goals and constraints
- Equilibrium in monopoly markets
- What happens when things change?
- Price discrimination
- The decline of monopoly
VIII. Monopolistic competition and oligopoly
- The concept of imperfect competition
- Monopolistic competition
- Oligopoly
- The labor market
- Labor markets in particular
- Demand for labor by a single firm
- The market demand for labor
- Labor supply
- Labor market equilibrium
- What happens when things change?
- Income inequality
- Discrimination and wages
- Measuring income inequality
- Income inequality, fairness, and economics
Learning outcomes of the learning unit
Through the study of Economics, students will develop:
- Knowledge and understanding about:
- The basic concepts of Economics including micro and macro economics
- The economic behavior of individuals, firms, institutions and governments
- The function and operation of markets
- The operation and management of economics
- Contemporary economic problems and issues facing individuals, firms and governments
- Skills to:
- Investigate and engage in effective analysis, synthesis and evaluation of economic information from a variety of sources
- Communicate economic information, ideas and issues in appropriate forms
Prerequisite knowledge and skills
Planned learning activities and teaching methods
Mode of delivery (face to face, distance learning, hybrid learning)
Organisational adjustments related to the current health context
Recommended or required readings
- Economics - Principles and Applications - Robert E. Hall and Lieberman
Assessment methods and criteria
Below you will find information on the evaluation methods planned for in-person and remote exams as well as those planned for hybrid sessions. Depending on how the health crisis evolves, the chosen method will be communicated to you no later than one month before the start of the exam session.
- Participation: 15%
- Assignment: 15%
- Midterm Exam: 20%
- Final Exam: 50%
Work placement(s)
Organizational remarks
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Contacts
Tran Van Tan, Faculty of Construction Economics and Management,
National University of Civil Engineering, Room 308, A1 Building,
Email: tvtandhxd@gmail.com