Economics – IFBM
Managerial Economics shows the application of economic principles and methodologies to key management decisions within organizations. It provides a better understanding of the external business environment in which an organization operates and the understanding of the principles relevant to foster the goals of the organization.
Textbook:
- Evans, Anthony J., 2020 “Economics: A complete guide for business“, London Publishing Partnership
Lecture handouts: download here (to follow)
Assessment instructions: download here (to follow)
Schedule: here (to follow)
Course content
| Pre-course activity |
| Students who haven’t studied economics before should take this prerequisite online course: Economics for IFBM, ESCP.
To verify you have the maths skills necessary for this course, complete this quiz and see this Note on Differentiation. Here is a short video with some recommended readings: |
| Session 1 |
| 1. Value creation* +
Textbook reading: Chapter 1.2 |
| Session 2 |
2a. Cost curves* +
Textbook reading: Chapter 2.3 2b. Auctions + Textbook reading: Chapter 3.3 Extra activity:Aalsmeer – the Dutch flower auction |
| Session 3 |
| 3a. Market applications +
Textbook reading: Chapter 3.2 3b. Adverse selection + Textbook reading: Chapter 3.4 Extra activity: Porta Palazzo |
| Session 4 |
4a. Price discrimination:
4b. Debrief* + Textbook reading: Chapter 1.3 and Chapter 4.3 |
| Session 5: Online |
| 5a. Group presentations
5b. Debrief |
| Notes: Sessions marked with an asterix (*) have a lecture handout available in advance, which can be downloaded. Cases marked with a pound sign (£) are available via Blackboard. Follow the + links for additional resources. |
Extra: Best croissant in Paris (Luis); 48 hours in Paris (TOPJAW), Ploughman’s Lunch (Tweedy Pubs), a 3 course meal for £5 (Gary Eats) and how global warming is changing the wine industry.
Podcast: “What an economist eats for lunch (in 2026), with Tyler Cowen” The Economics Show with Soumaya Keynes, Financial Times, February 6th 2026 [Here is a quiz]