Advanced Microeconomics for Business Administration

This course provides a comprehensive introduction to microeconomics, focusing on concepts relevant to business decision-making. Mastering these principles is essential for successfully navigating uncertain and dynamic business environments. 

The course is divided into two parts. The first part covers individual decision-making, particularly under risk and uncertainty. The second part shifts focus to equilibrium theory, markets, and firm behavior. Here, students will examine how businesses determine prices, production, and market positioning while considering competitors' actions.

Throughout the course, emphasis is placed on practical applications and real-world examples. Complementary exercise sessions will also be held to deepen understanding of the material and further apply the concepts learned to different scenarios. 

The course aims to guide future professional thinking in complex business environments by introducing students to rigorous, yet simple, abstract models. It also seeks to enhance students' ability to make rational business decisions by helping them understand how economic actors and markets work. Upon successful completion, students will be able to solve case studies using microeconomic theory. 

Prof. Dr. Johannes Luger

Johanna Rupp

Lecture (offered every fall semester), 6 ECTS, compulsory for Master's students in business administration 

English

There is no required textbook - all essential materials are contained in the lecture slides. However, for students who wish to do some supplementary reading, the following book can be helpful:

• Angner, E. (2020). A course in behavioral economics. Bloomsbury Publishing. 

The course will be assessed by a written, sit-in exam at the end of the semester, graded on a scale of 1-6 in quarter grades. The exam will include both single and multiple-choice questions.

Johanna Rupp