Microeconomics for Managers: Foundations

JUMP TO:

REQUIREMENT | WAIVE BY EXAM | PREPARATION RESOURCES

MICROECONOMICS FOR MANAGERS: FOUNDATIONS FIXED CORE REQUIREMENT

Note: Until AY 2024-25, this course was formerly referred to as MGEC

Microeconomics for Managers: Foundations (0.5 CU) establishes the microeconomic foundations for understanding business decision-making. The first unit, “Operating a Firm,” covers demand estimation, cost minimization, and pricing with market power. Unit two, “Markets and Equilibrium,” covers supply and demand, market equilibrium, taxes and tax incidence, and externalities. Unit three presents an introduction to game theory, including simultaneous-move and sequential games. The course emphasizes real-world applications and in-class activities, and it employs both multivariable calculus and computational methods to solve problems. Students are expected to have mastered these materials before enrolling in the second-quarter course, Microeconomics for Managers: Advanced Applications.

WAIVE BY EXAM

To be exempted from enrolling in BEPP 6110: Microeconomics for Managers: Foundations, students have to pass a 90-minute waiver exam. It should be noted that BEPP is a cohorted class, and offers the opportunity to work together with your learning team on problem sets and group projects, and so students report enjoying participating in both quarters, even if some of the material is review.

The waiver exam will test your mastery of the following topics:

• Demand
• Cost minimization
• Pricing with market power
• Double marginalization
• Price-taking firms
• Market equilibrium
• Efficiency
• Taxes
• Externalities
• Simultaneous-move games
• Sequential and repeated games

PREPARATION RESOURCES

Note: Until AY 2024-25, this course was formerly referred to as MGEC