GD520 – Economics for Managers
Master of Science in Green and Digital Management
Core Course
GD520 – Economics for Managers
Course Unit Code: GD520
Type Of Unit: Core
Level of Course Unit: Second cycle
Year of Study: First/second year
Semester: -
Number of ECTS Credits: 4.5
Class Contact Hours: 21
Mode of Delivery
Face to Face
Prerequisites
None
Course Objectives
The objective of this course is to provide the skills, knowledge, and tools to train the students in the economic way of thinking and to apply economic theory to managerial decision making. This course will also include social welfare economics.
Learning Outcomes
- Apply economic principles and tools to business and public policy problems.
- Estimate and forecast demand for existing and new products and services; predict the effect of changes in prices, incomes, technology and competition on demand and supply of a product and service.
- Assess the effects of changes in government policies, that is fiscal and monetary policies, and their effects on the domestic and global environment.
- Apply the concepts of social welfare economics and explain efficiency, market failures, public goods, externalities, green taxation, carbon taxes, emissions trading, and other terms.
- Analyze the market structure of industries.
Course Content
Course Features
Planned learning activities and teaching methods
Lectures; in-class discussion and debates; in-class exercises; experimental exercises; team work; video case studies; presentations; peer evaluations.
Assessment methods and criteria
10% Class Participation
90% Final Exam
Readings
Text books:
1. Managerial Economics: A Problem-Solving Approach (a Textbook) http://www.railassociation.ir/Download/Article/Books/Managerial%20Economic
s-%20A%20Problem%20Solving%20Approach.pdf
2. Paul, G. K., Philip, K. & Young, Y. (2006). Managerial economics: economic tools for today’s decision makers (5th ed.). Pearson Prentice Hall
Further reading:
3. Begg, D. e t-al. Economics. McGraw-Hill
4. Downbusch, R., Fischer, S. & Startz, R. Macroeconomics. McGraw-Hill Ferguson, P. et-al. Business Economics. MacMillan
5. Kreps, D. M. (2004). Microeconomics for managers. W. W. Norton & Company
6. Mankiw, N. (2010). Macroeconomics. Worth Publishers
7. Pappas, J. & Hirschey, M. Managerial Economics. Dryden Press Salvatore, D. Managerial Economics. McGraw-Hill
Articles & Journals:
Implementing Green Management in Business Organizations
The IUP Journal of Business Strategy, Vol. XV, No. 2, June 2018, pp. 46-62
The role of green management in creating sustainability performance on the small and medium enterprises
https://www.emerald.com/insight/content/doi/10.1108/MEQ-03- 2018-0053/full/html
Social welfare economics (a video)
https://ocw.mit.edu/courses/economics/14-01sc-principles-of- microeconomics-fall-2011/unit-4-welfare-economics/principles- of-welfare-economics/
Market Failures, Public Goods, and Externalities
https://eml.berkeley.edu/~saez/course131/externalities1_ch05.pdf
https://www.imf.org/external/pubs/ft/fandd/basics/external.htm
https://www.khanacademy.org/economics-finance- domain/microeconomics/market-failure-and-the-role-of-government
English (UK) 
Ελληνικά