Course syllabus - Industrial economics

Objectives

The purpose of the course is to provide knowledge on how microeconomic theory, based on mathematical methods, can be used for decision making in companies. Central to the course are analyses of decisions on production, investment and financing. Strategic aspects for companies as well as the consequences of uncertainty and limited information are also big parts of the course. The course provide students with tools central in microeconomic business analysis. The basics of evolutionary economics are also included.

Learning outcomes

1. Use mathematical microeconomic methods to analyse consumer behaviour and markets from a business perspective 

2. Use microeconomic theory to analyse business decisions on production, investment and financing 

3. Use microeconomic theory to analyse pricing strategy alternatives

4. Use microeconomic theory to analyse strategic behaviour between companies, and decisions with uncertainty and limited information

5. Critically evaluate and use information for decisions

6. Critically discuss fundamental assumptions in microeconomic theory, using concepts from evolutionary economics

7. Use gathered knowledge from the course through applying a number of skills specified in the course guidelines

Course content

The course provides knowledge on how microeconomic theory, based on mathematical methods, can be used to provide management information and a basis for decision making in companies. It also provides knowledge on how to analyse optimal and strategic aspects from a business perspective. 

The course is based on applications analysed with mathematical methods and students are trained to solve optimization problems in varying business contexts. 

The course starts with consumer behaviour and utility maximization, also analysing individual and market demand. The next part is optimal business decisions, thereafter discussing decisions for investment and financing as well as pricing strategy alternatives. The course ends with central concepts from evolutionary economics and a discussion on how they relate to fundamental assumptions of microeconomics.

Tuition

Lectures, exercises and seminars. Also use of digital tools.

Specific requirements

120 credits within the MSc programme in Industrial Economics, which includes 30 credits within the subject "industrial engineering and management", or comparable. In addition Swedish course B/Swedish course 3 and English course A/English course 6 are required. For courses given entirely in English exemption is made from the requirement in Swedish course B/Swedish course 3.

Examination

Examination (TEN1), 6 hp, grade Excellent (A), Very good (B), Good (C), Satisfactory (D), Sufficient (E), Insufficient, complementary work possible (Fx), Insufficient (F) (learning outcomes 1-5, 7) 
Assignment (INL1) 1,5 hp, grades Fail (U) or Pass (G) (learning outcomes 6-7)

A student who has a certificate from MDU regarding a disability has the opportunity to submit a request for supportive measures during written examinations or other forms of examination, in accordance with the Rules and Regulations for Examinations at First-cycle and Second-cycle Level at Mälardalen University (2020/1655). It is the examiner who takes decisions on any supportive measures, based on what kind of certificate is issued, and in that case which measures are to be applied.

Suspicions of attempting to deceive in examinations (cheating) are reported to the Vice-Chancellor, in accordance with the Higher Education Ordinance, and are examined by the University’s Disciplinary Board. If the Disciplinary Board considers the student to be guilty of a disciplinary offence, the Board will take a decision on disciplinary action, which will be a warning or suspension.

Grade

Excellent, Very good, Good, Satisfactory, Sufficient, Insufficient, complementary work possible, Insufficient

Interim Regulations and Other Regulations

Overlaps 3 hp with: 
NAA107 Mikroekonomi 
NAA111 Mikroekonomisk teori 
NAA121 Mikroekonomi 
NAA123 Mikroekonomisk teori 
NAA124 Mikroekonomi 1 
NAA102 Microeconomics and Trade Theory 

Overlaps 3 hp with: 
NAA122 Mikroekonomi fortsättningskurs 
NAA125 Mikroekonomi 2 
NAA129 Tillämpad mikroekonomi