International Business Studies FT
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Economics for Managers

level of course unit

2. Study cycle, Master

Learning outcomes of course unit

The students are able to:
• apply economic concepts and methods to business-related management issues.
• determine the revenue-maximizing pricing strategy based on demand elasticity.
• identify and evaluate techniques for the empirical estimation of demand.
• discuss the consequences of market forms such as monopoly or monopolistic competition and to develop appropriate strategies for profit maximization.
• analyze the effects of digital technologies on the supply or demand side and assess the consequences of network effects.

prerequisites and co-requisites


course contents

• Market model and demand elasticity
• Economies of scale and network externalities
• Perfect competitive market, monopoly and monopolistic competition
• Pricing and profit maximization
• Digital technologies and market concentration

recommended or required reading

• Farnham, Paul: Economics for Managers. Pearson (latest edition)
• Baye, Michael; Prince, Jeff: Managerial Economics & Business Strategy. Mcgraw-Hill Series Economics (latest edition)
• Allen, W. Bruce; Weigelt, Keith; Doherty, Neil A.; Mansfield, Edwin: Managerial Economics: Theory, Applications, and Cases. W. W. Norton & Company (latest edition)

assessment methods and criteria

Term paper, presentation, exam

language of instruction


number of ECTS credits allocated


eLearning quota in percent


course-hours-per-week (chw)


planned learning activities and teaching methods

Blended Learning

semester/trimester when the course unit is delivered


name of lecturer(s)

Prof. (FH) Dr. Peter Dietrich

year of study


course unit code


type of course unit

integrated lecture

mode of delivery


work placement(s)