About the Course

The course ‘Business and Managerial Economics’ is concerned with the application of economic principles, tools and methodologies to key management decisions within businesses. It provides principles to foster the goals of a small firm, as well as a better understanding of the external business environment in which it operates.

The intention of this course is to introduce to students a wide variety of problems faced by managers, especially in small and medium enterprises. Faced with these problems, students will be given the opportunity to develop strategies and tools for solving problems, not only computer solutions but also using behavior and psychological models of decision-making in real-world situations, used by managers every day.

The course is self‐contained therefore no prior knowledge of economics is necessary.

The Business and Managerial Economics syllabus is split into 4 main subject areas:

1. An introduction to micro- and macroeconomic problems.
2. Fields of activity in a small enterprise.
3. The role and tasks of managers.
4. Economic and non-economic tools used in the decision-making process.

Course Syllabus

Recommended background

This course is designed for noneconomic students, which have an ambition to become entrepreneurs.

Suggested readings

W.F. Samuelson, S.G. Marks, Managerial Economics, 7th Edition, Wiley, 2014.

P. Kulawczuk, A. Poszewiecki, W. Bizon [ed.], Behavioral Finance of Entrepreneurship. How Can Framing Influence Financial Decisions of Entrepreneurs?, University of Gdansk, Gdansk 2011.

Course format

The course ‘Business and Managerial Economics’ consists of four main parts. In each of them we can distinguish smaller learning units. Parts number one and two will be an introduction and demonstrate the background. Thereby the interactive but asynchronous learning objects will dominate (graphs, charts, interactive graphics, drill-and-practice activities). At this stage students work individually. During the third and fourth part of the course, students will work in small groups. To teach learners to conduct informal research on a subject (‘Managerial problems’), guided research/analysis or team design are planned. Students can communicate with the instructor mainly through the discussion panel on the Moodle platform. They may send personal concerns or questions to the authors using e-mail address.

FAQ

Q: Is this course suitable for noneconomic students?

A: Yes, it is. The main idea was to help potential entrepreneurs who do not have economic or business education.

Q: Does the course give any practical information and business solutions?

A: Yes, the course gives practical tips how to run a small enterprise and shows business examples and case studies.