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Economics Courses at MBS Reza Salehnejad Economic Courses First Year: 1. Economics Principles (first semester) Second Year: 1. 2. Introductory / Intermediary Macroeconomics (full year) Managerial Economics (full year) Third Year: 1. 2. 3. 2 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. 3 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! 4 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 5 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 6 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 7