1. 课程名称 1 Managerial Economics by Professor Zhang Jun 20-23 June, 2003 EMBA Aetna School of Management, Shanghai Jiao Tong University 安泰管理学院

2. 课程名称 2 Professor Zhang Jun www.prozhang.com Director, China Center for Economic Studies, Fudan University; Lecturing Professor, Shanghai Jiaotong University ISSE Diploma (London School of Economics, 1990); Ph.D in Economics (Fudan, 1992); Post-doctoral Fellowships (University of Sussex, 1992-1994, Washington State University, 1994-1995); Visiting Professorships held at Harvard University, SOAS, University of London, University of Hong Kong, Tokyo Metropolitan University, and University of Aarhus in Denmark, etc.

3. 课程名称 3 Textbook S.C.Maurice and C.R.Thomas, 1999, Managerial Economics, 6 th Edition, McGraw-Hill www.mhhe.com/economics/maurice7/student

4. 课程名称 4 CONTENTS Module 1: Introduction: Managers, Firms and Markets Module 2: How Do Markets Work? Module 3: Consumer Behavior and Market Demand Module 4: The Theory of Production and Cost Module 5: Market Structure and Managerial Decision Making EMBA Aetna School of Management, Shanghai Jiao Tong University 安泰管理学院

5. 课程名称 5 Day One Covers: Chapter 1 Chapter 2 Chapter 3 in S.C.Maurice and C.R.Thomas, 1999, Managerial Economics, 6 th Edition,

6. 课程名称 6 Know you and know me Have you learned Economics before? And who did you expect to sit by you and help you when you were making a business decision? What do you want to ask me mostly?

7. 课程名称 7 Managerial Economics The Right R for Doctors Irrelevance of fixed costs in decision making. Price discrimination. Advertising dilemma. Linear trend forecasting. Strategic entry deterrence. Profit maximizationvs revenue maximization. Economies of scale and scope. Cost-minimizing input combination.

8. 课程名称 8 Module 1: Introduction 1.Managerial Economics and Economic Theory 2.Profits and Profit Maximization 3.Firms and Corporate Control 4.Market and Market Structure EMBA Aetna School of Management, Shanghai Jiao Tong University 安泰管理学院

9. 课程名称 9 1 Managerial Economics and Economic Theory 1.1 An Interesting Illustration (read page 2 for details) 1.2 Why Economics? 1.3 Theory and Pratices 2 Profits and Profit Maximizing 2.1 Economic Profits and Opportunity Costs 2.2 Profit Maximizing and Maximizing the Value of the Firm 2.3 Economic Profit and Accounting Profit EMBA Aetna School of Management, Shanghai Jiao Tong University 安泰管理学院

10. 课程名称 10 3 Firms and Corporate Control 3.1 Separation of Ownership and Control 3.2 The Principal-Agent Problem 3.3 Moral Hazard 3.4 Corporate Control Mechanisms(Governance) EMBA Aetna School of Management, Shanghai Jiao Tong University 安泰管理学院

11. 课程名称 11 4 Market and Market Structure 4.1 What is a Market? 4.2 Market and Firm 4.3 Market Power and Pricing 4.4 Different Market Structures EMBA Aetna School of Management, Shanghai Jiao Tong University 安泰管理学院

12. 课程名称 12 Panel Discussion(15 minutes) What Do You Expect to Learn From Managerial Economics?

13. 课程名称 13 Module 2: How Do Markets Work? 1.Competitive Market, Demand and Supply 2.Market Equilibrium and Price Determination 3.Elasticity and Demand EMBA Aetna School of Management, Shanghai Jiao Tong University 安泰管理学院

14. 课程名称 14 1 Competitive Market, Demand and Supply 1.1 Competitive Market 1.2 Demand and Demand Function 1.3 The Law of Demand 1.4 Supply Curves 1.5 Shifts in Demand and Supply EMBA Aetna School of Management, Shanghai Jiao Tong University 安泰管理学院

15. 课程名称 15 2 Market Equilibrium and Price Determination 2.1 Demand, Supply and Equilibrium 2.2 Price Determination and Clearing Process 2.3 Ceiling and Floor Prices EMBA Aetna School of Management, Shanghai Jiao Tong University 安泰管理学院

16. 课程名称 16 3 Elasticity and Demand 3.1 Demand (or Price) Elasticity and Its Coefficient 3.2 Calculating Demand Elasticity 3.3 Elasticity and Total Revenue: Price and Quantity Effects 3.4 Factors Affecting Demand Elasticity 3.5 Other Elasticities 3.6 Marginal Revenue and Elasticity EMBA Aetna School of Management, Shanghai Jiao Tong University 安泰管理学院

17. 课程名称 17 Case Studies(30 minutes) Teamwork for Case Studies(1)

18. 课程名称 18 Day Two Covers: Chapter 6 Chapter 7 and Chapter 8 (optional) Chapter 9 in S.C.Maurice and C.R.Thomas, 1999, Managerial Economics, 6 th Edition,

19. 课程名称 19 Module 3: Consumer Behavior and Market Demand 1.A Brief Introduction to the Theory of Optimization in Decision Making 2.The Theory of Consumer Choice 3.Empirical Market Demand and Its Forecasting EMBA Aetna School of Management, Shanghai Jiao Tong University 安泰管理学院

20. 课程名称 20 1 A Brief Introduction to the Theory of Optimization in Decision Making 1.1 Rationality and Choice 1.2 Maximization Paradigm 1.3 Marginal Analysis EMBA Aetna School of Management, Shanghai Jiao Tong University 安泰管理学院

21. 课程名称 21 2 The Theory of Consumer Choice 2.1 Utility and Preferences 2.2 Indifference Curves 2.3 Budget Constraint and Equilibrium Process 2.4 Optimization and Consumer Choice 2.5 The Law of Diminishing Marginal Utility and Marginal Interpretation 2.6 Market Price and Consumer Surplus EMBA Aetna School of Management, Shanghai Jiao Tong University 安泰管理学院

22. 课程名称 22 3 Empirical Market Demand and Its Forecasting 3.1 Direct Methods of Demand Estimation 3.2 Regression Techniques EMBA Aetna School of Management, Shanghai Jiao Tong University 安泰管理学院

23. 课程名称 23 Case Studies(30 minutes) Teamwork for Case Studies(2)

24. 课程名称 24 Module 4: The Theory of Production and Costs 1.Production and Producer’s Choice in Short-Run 2.Expenditure and Economic Costs 3.Producer’s Choice in Long-Run 4.Economies of Scale and Scope EMBA Aetna School of Management, Shanghai Jiao Tong University 安泰管理学院

25. 课程名称 25 1. Production and Producer’s Choice in the Short Run 1.1 Input-Output Nexus: Production Functions in Short-Run and in Long-Run 1.2 Productivity and Measurement 1.3 The Law of Diminishing Marginal Return 1.4 How Much Input Is Needed in Short-Run ? EMBA Aetna School of Management, Shanghai Jiao Tong University 安泰管理学院

26. 课程名称 26 Panel Discussion(15 minutes) Do rich people have more satisfaction from their wealth ?

27. 课程名称 27 Day Three Covers: Chapter 9 Chapter 10 Chapter 12 in S.C.Maurice and C.R.Thomas, 1999, Managerial Economics, 6 th Edition,

28. 课程名称 28 2. Expenditure and Costs 2.1 Short-Run Total Costs 2.2 Marginal and Average Costs 2.3 Relations and Graphics Between SR Costs and Production EMBA Aetna School of Management, Shanghai Jiao Tong University 安泰管理学院

29. 课程名称 29 3. Producer’s Choice in Long-Run 3.1 Production Isoquants 3.2 Isocosts 3.3 Optimization and Efficiency EMBA Aetna School of Management, Shanghai Jiao Tong University 安泰管理学院

30. 课程名称 30 4. Economies of Scale and Scope 4.1 Various Shapes of Long-Run Average Cost 4.2 Economies of Scale and Firm Size 4.3 Economies of Scope and Joint Production EMBA Aetna School of Management, Shanghai Jiao Tong University 安泰管理学院

31. 课程名称 31 Case Studies(30 minutes) Teamwork for Case Studies (3)

32. 课程名称 32 Module 5: Market Structure and Managerial Decision Making 1. Managerial Decision Making in Perfectly Competitive Markets 2. Managerial Decision Making for Firms with Market Power 3. Oligopoly: Decision Making with Mutual Interdependence 4. Pricing for Multiple Plants, Markets, and Products EMBA Aetna School of Management, Shanghai Jiao Tong University 安泰管理学院

33. 课程名称 33 1. Managerial Decision Making in Perfectly Competitive Markets 1.1 When Is the Market Perfectly Competitive? 1.2 Demand Facing the Competitive Firm 1.3 Manager’s Output Decision in Short-Run 1.4 Firm’s Supply and Industry Supply 1.5 Long-Run Supply 1.6 Firm’s Hiring Decision EMBA Aetna School of Management, Shanghai Jiao Tong University 安泰管理学院

34. 课程名称 34 Panel Discussion(15 minutes) Do you think China electronics market is more competitive than US market? Why?

35. 课程名称 35 Day Four Covers: Chapter 13 Chapter 14 Chapter 15 Chapter 16 in S.C.Maurice and C.R.Thomas, 1999, Managerial Economics, 6 th Edition,

36. 课程名称 36 2. Decision Making for Firms with Market Power 2.1 Market Power, its Measurement and Determinates 2.2 Profit Maximization under Monopoly 2.3 Demand for Inputs 2.4 The Social Cost of Monopoly 2.5 Monopolistic Competition EMBA Aetna School of Management, Shanghai Jiao Tong University 安泰管理学院

37. 课程名称 37 3. Oligopoly: Decision Making with Mutual Interdependence 3.1 Characteristics of Oligopoly 3.2 Nonprice Competition in Oligopolistic Markets 3.3 Pricing Strategy with Mutual Interdependence(Duopoly) 3.4 Cartel (Collusion) Profit Maximization EMBA Aetna School of Management, Shanghai Jiao Tong University 安泰管理学院

38. 课程名称 38 Case Studies(30 minutes) Teamwork for Case Studies(4)

39. 课程名称 39 4. Pricing for Multiple Plants and Markets 4.1 Multiplant Firms 4.2 Multimarkets and Price Descriminations 4.3 Two-part Tariff 4.4 Bundling 4.5 Peak-loading Pricing EMBA Aetna School of Management, Shanghai Jiao Tong University 安泰管理学院

40. 课程名称 40 Concluding Remarks Summary Hints for Exams Best Wishes