MB820 – Managerial Economics and Statistics
Master in Business Administration (MBA)-Distance Learning
Core Course
MB820 – Managerial Economics and Statistics
Course Objectives
The aim of this course is twofold. The first part of the course mainly aims at providing the skills, knowledge, and tools to train the students in the economic way of thinking and at applying economic theory to business domestically and internationally. The second part aims at introducing the fundamental concepts and tools of statistics, at providing the appropriate theoretical and practical skills necessary for collecting, analyzing and interpreting data and at offering the necessary tools to conduct research and data analysis.
Learning Outcomes
1. Identify the market forces that govern a competitive market.
2. Use the notion of price elasticity of demand and explain how it affects total revenue.
3. Explain the short-run and long-run production decisions of firms in competitive and non-competitive markets.
4. Apply the above concepts to real-life business problems through applications and examples.
5. Explain the notion and the use of statistics
6. Apply tabular, graphical, and descriptive methods in order to study and understand a variable.
7. Describe and explain the basic concept of probability theory, and probability and sampling distribution.
8. Analyze and draw conclusions using confidence intervals & hypothesis tests.
9. Apply statistical methods in order to study and understand the relationship between two or more variables.
10. Analyze data using Microsoft Excel
Mode of Delivery
Distance Learning
Prerequisites
Course Content
1st Week: Market Forces: Demand and Supply (1)
2nd Week: Market Forces: Demand and Supply (2)
3rd Week: Price Elasticity of Demand
4th Week: Production and Cost Analysis (1)
5th Week: Production and Cost Analysis (2)
6th Week: Managerial Decisions in Competitive Markets
7th Week: Introduction to Statistics
8th Week: Descriptive Statistics
9th Week: Probability and Sampling Distributions
10th Week: Estimation and Confidence Intervals
11th Week: Hypothesis Testing and Linear Regression
12th Week: Data analysis using Microsoft Excel
Course Features
Assessment: Exam
English (UK) 
Ελληνικά