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IIMBx: ES101x Introduction to Managerial Economics

  WELCOME TO INTRODUCTION TO MANAGERIAL ECONOMICS

This page will guide you through the course syllabus and provide important information related to this course.

In this self-paced course, you will learn how markets work and how to make good decisions as a manager or as an individual operating in a market environment.

Pre-requisites

Basic analytical and logical reasoning skills: the ability to understand and draw simple graphs and knowledge of elementary (10th standard, high school) algebra.

  COURSE AGENDA

WeekSection NameTopics Covered
1

How Markets Work?
  • What is Economics
  • Microeconomics and Macroeconomics
  • Why should students of Business learn Microeconomics
  • Market Economies
  • Production Possibility Frontier
  • The Demand Curve
  • Factors that Affect Demand
  • The Supply Curve
  • Factors that Affect Supply
2

Demand, Supply and Equilibrium
  • The Equilibrium
  • Divergence from the Equilibrium Price
  • Effects of changes in Business Environment on the equilibrium
  • Price Elasticity of Demand and Supply
  • Income Elasticity and Cross Price Elasticity
  • Factors that affect the elasticity of demand
  • Taxes in the demand-supply Framework
  • Buyers and Sellers surplus
  • Government Intervention in the market: the Welfare Loss
3

Production and Cost
  • The Production Function
  • Behaviour of Average and Marginal Products
  • Law of Diminishing Returns
  • Productivity in the Long Run
  • Scale and Scope of Production
  • Costs of Different types
  • Behaviour of average and marginal costs
  • Relationship between costs and productivity
  • Costs in the long run
4

Markets - Part 1
  • Markets of Different types
  • Perfectly Competitive Market
  • Profits in a perfectly competitive Market
  • Perfect competition in the long run
  • Monopoly
  • Profits in a monopolistic market
  • Sources of Monopoly Power
  • The Multi-product firm
  • Monopolistic Competition
5

Markets - Part 2
  • Oligopoly
  • Different Models of Oligopoly
  • Why do markets Fail
  • Game Theory: A strategic understanding
6

Final Exam

 Final Exam

  TIME COMMITMENT

Course Length:

  • 5 weeks worth of content

Weekly Commitment

4-5 hours per week.This includes the time spent in going through the course materials (videos and reading materials), taking up the assessment and participating in the discussion forums.

Grading Scheme

The course consists of surveys, end-of-week assessments and a final exam. The score from each assessment will contribute to the final score, which you can track using the Progress tab.

WeekWeightageAssessment TypeDue Date
1
  • 3%
  • 15%
  • Survey
  • End of Week Assessment

Start Date: 1st Jun 2017, 3:30 UTC

End Date: 1st Dec 2017, 3:30 UTC
2 15%
  • End of Week Assessment

Start Date: 1st Jun 2017, 3:30 UTC

End Date: 1st Dec 2017, 3:30 UTC
3 15%
  • End of Week Assessment

Start Date: 1st Jun 2017, 3:30 UTC

End Date: 1st Dec 2017, 3:30 UTC
4 15%
  • End of Week Assessment

Start Date: 1st Jun 2017, 3:30 UTC

End Date: 1st Dec 2017, 3:30 UTC
5
  • 2%
  • 15%
  • Survey
  • End of Week Assessment

Start Date: 1st Jun 2017, 3:30 UTC

End Date: 1st Dec 2017, 3:30 UTC
6

20%
  • Final Exam

Start Date: 1st Jun 2017, 3:30 UTC

End Date: 1st Dec 2017, 3:30 UTC

In order to receive a verified certificate for this course, you will need to get a total score of 50% or higher.

Note: The ungraded assessments are interspersed throughout the course to recall what you have learnt so far. These do not count for final assessments.

Note

  • Many of these dates are dynamic and subject to change during the course run. Please be sure to visit the Course Home page and refer to your weekly course email for any change in any of the dates listed above.
  • As you work through your course, you’ll see dates and times when new materials are released and when assignments and exams are due. It’s important to remember that edX lists all times in Coordinated Universal Time (UTC), 24-hour format.