Managerial Economics – ESA, Beirut

aje on October 29, 2022

This course provides an overview of core economic concepts and how they relate to senior executive management. Particular focus will be placed on the theory and practice of internal markets and how organisations have harnessed the knowledge and incentives provided by market mechanisms. Group work will focus on an analysis and assessment of the macro context for a relevant country, looking at monetary and fiscal policy as well as a broader set of social and environmental indicators.

Course textbook:

Course handouts: download here

Instructions for the group report: download here

Pre class activities
All cases need to be read and prepared in advance.
Day 1: Micro
1. Incentives matter* (+)

2. Understanding cost* (+)

3. Auctions (+)

  • Hild, M., Dwidevy, A., and Raj, A., 2004, “The Biggest Auction Ever: 3G Licensing in Western Europe”, Darden Business Publishing (£)
  • Discussion question: What are the alternatives to auctions?
  • Textbook: Chapter 3.3

4. Market applications (+)

5. Internal markets (+)

Extra activity: The Dutch flower auction
Day 2: Macro: closed economy
6 & 7. Monetary policy* (+)

  • “The Euro in Crisis: Decision Time at the European Central Bank” Harvard Business School case no. 9-711-049 (£)
  • The ECB During the Crisis, July 2021
  • Textbook reference: Chapter 8.2

8 & 9. Fiscal policy* (+)

10. Macro Policy Workshop (+)

After class you should watch this video and pass this quiz.

Extra activity: NGDP Masterclass
Day 3: Macro: wider issues
11. International economics (+)

12. Macro risk*

13 & 14. Group preparation and presentations

15. Debrief

Note:

Cases marked with a pound sign (£) are available via the learning platform.

What I’ve been reading:

  • Ghattas, K, 2020, Black Wave, Wildfire

What I’ve been listening to:

  • The Tragedy of the Middle East: A Letter from Lebanon, The David McWilliams Podcast, October 1st 2024 – recorded in September 2024, I found this this interview with Carole Nakhle to provide a good perspective on the economic history and current political situation.

What I’ve been watching:

Malina Angelica is one of my favourite travel vloggers and so before teaching this course I watched her video on Lebanon and also this episode on Beirut:

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