Course - Managerial Economics - SMF1194F
Managerial Economics
About
About the course
Course content
Managerial accounting:
- Introduction to managerial accounting -
- Costs and cost structures
- Cost allocation
- Costing
- Short-term decision making
- Cost-, volume-, profitanalysis
- Pricing decisions
- Long-term decisions
Learning outcome
Knowledge
Students should be able to explain key concepts and explain important methods used for managerial decision-making purposes. Examples of concepts that the students should be able to explain: Opportunity cost, sunk cost, decision-relevant costs, contribution margin, cash flow, present value. Examples of tools that the students should be able to explain: Contribution calculations, break-even, present value calculations.
Skills
After completing the course, students should be able to (a) apply acquired knowledge for analyzing and discussing managerial topics, (b) distinguish between relevant and irrelevant information, and (c) be able to communicate analyses performed. This means: 1) When the method is stated, be able to use the method 2) Based on simple as well as complex situation descriptions, be able to make logical assumptions about relevant information and connect this with the correct method and apply this correctly.
General competence
Students should be able to ask critical questions to, and reflect on, key assumptions and assumptions within the area. The course contributes to the beginning of thinking about how management accounting and control can contribute to developing sustainable business models. The course will also lay the first foundation for satisfying the expectations set by future employers with regard to work effort and capacity.
Learning methods and activities
Streamed lectures, assignments and self-study. The main part of the learning is based on the students reading and doing exercises by themselves. Guidance from learning assistants.
Further on evaluation
Voluntary exercises as preparation for the exam. No mandatory assignments.
Supporting material allowed on exams:
- Approved calculator in accordance with NTNU's support material code B-D "specific basic calculator".
- Other calculators that are allowed in the course are: Casio FC-100V and Texas Instruments - BAII Plus. Re-sit examination may be given as oral examination.
- Calculator is according to regulations for NTNU Business School.
- At the beginning of the semester, possible other supporting material will be announced.
Specific conditions
Admission to a programme of study is required:
Building Constructions – Engineering (BIBYG-F)
Business Management (BØKLED-F)
Business Management (ÅRØKLEDF)
Recommended previous knowledge
None.
Required previous knowledge
Ingen.
Course materials
Berg, Terje: Grunnleggende økonomistyring, Latest edition.
Lecture notes, mandatory assignments and other published in the learning platform is also considered part of the curriculum. This goes also for what is said and done during lectures.
Credit reductions
| Course code | Reduction | From |
|---|---|---|
| SMF1194 | 7.5 sp | |
| AE101108 | 7.5 sp | Autumn 2019 |
| SMF1042F | 7.5 sp | Autumn 2020 |
| BØA1100 | 5 sp | Autumn 2026 |
Subject areas
- Economics and Administration
Contact information
Course coordinator
Lecturers
Department with academic responsibility
Department of Industrial Economics and Technology Management