LFU:online

Department of Public Finance Department of Public Finance

assoz. Prof. Dr. Anita Gantner assoz. Prof. Dr. Anita Gantner, +43 512 507 71041

404071

PS Managerial Economics

PS 2

4,5

Positive Beurteilung des Pflichtmoduls gemäß § 6 Abs. 3 Z 1 Grundlagen der Volkswirtschaft und des Pflichtmoduls gemäß § 6 Abs. 3 Z 2 Theorie ökonomischer Entscheidungen: Strategisches Verhalten

weekly

annually

English

To be able to analyze organization’s structures and to solve organizational problems. To be able to identify the best firm’s policies.

A systematic treatment of the economics of the modern firm, this course draws on the insights of a variety of areas in modern economics and other disciplines, but presents a coherent, consistent, innovative treatment of the central problems in organizations of motivating people and coordinating their activities. The focus of this course will be on the structure of the incentives that firms use in their activities; in particular the course presents the basic principal-agent theory with complete contracts. It allows a first exposition of the transaction costs created by contracting under asymmetric information. A first part of the course presents the basic mathematical tools to study the theory of incentives (maximization with inequality constraints).

in-depth treatment of selected topics, discussion of problems, examples and exercises

“The theory of incentives”, J. J. Laffont and D. Martimort “Mathematical methods for economic theory: a tutorial”, Martin J. Osborne (sections 4, 5, 6, 7)

Prerequisites: Intermediate Microeconomics

06.03.2014