Economics Courses at MBS • Reza Salehnejad
Economic Courses • First Year: • Economics Principles (first semester) • Second Year: • Introductory / Intermediary Macroeconomics (full year) • Managerial Economics (full year) • Third Year: • Industrial Organization (economics) & Business Strategy (full year) • Macroeconomics (second semester) • Economics of Sports (first semester)
Why Study Economics • (Quite Recent) Economics – possibly the only field that can potentially offer a unified framework for thinking systematically about real business decisions. • Help understand how changes in the market / industry and the economy overall shape the fortune of the firm. • Difficult to design optimal business strategies without a solid understanding of the economy – both at the micro and macro level.
Economics Courses • The courses emphasize strategy design in practice, using a rich mix of up-to-date real case studies and theory. • A twin approach:the courses and assessments are designed so that both students with math background and those with non-technical background can enjoy the courses, without any difficulty, and master the art of strategy design. • The Beautify: A mix of theory and rich case studies. • All economic courses enjoy dynamics syllabi!
Managerial Economics • Theoretical framework • Game theory and formal models of oligopoly markets • Imperfect competition • Economics of information & and decision making under uncertainty • Advanced Pricing Strategies • Strategic behaviour & non-cooperative game theory • Signalling, • Auctions & auction design • Introductory topics on market design • Firm organization , incentive systems & firm design • Financial crisis and business strategy lessons • Selective topics on international trade, global supply chain, and superstar exporters
Industrial Organization & Business Strategy • Start-up, spinoffs & firm dynamics • External Growth: Mergers and acquisitions • Cartels, Collusions, & Price wars • Vertical integration & restraints • Organizational Structure – advance topics • Advance topics on Market / Firm Design • Network Industries • Multi-sided platforms • Big Data, Analytics, IT, and Firm evolution • Healthcare market design • Financial market design • The Market for ideas, patents & IP
Intermediary Macroeconomics • Basic Concepts • Fundamental Questions • Open economy model • Business cycles – theory and stylized facts • Theories of inflation, interest rates, and exchange rate • Economic Growth – theory and stylized facts • Unemployment • Theories of financial crises • Optimal Currency unions – the fate of Euro • Monetary & fiscal policies