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Master in Management students learn about micro and macro economics

07-04-2020

The Master in Management course Economics for Managers gives an insight in economics and how markets function on micro and macro level. Knowing the basics of managerial economics will help the students to make well thought-out decisions for a company with regard to sales and profits as well as deciding on economic fluctuations and growth.

The economics course is taught by Prof. Dr. Aad van Mourik who is an experienced economists and economics professor at Maastricht school of Management (MSM). Aad van Mourik taught the course over 4 days in which theory, practice, group work alternated each other. On day 5 the students were could see their new gained knowledge in practice at 2 corporate visits.

“Prof. Dr. Van Mourik is an excellent professor. He puts his mind and heart in, to, and for the class” – Master in management student

Economics for Managers lectures
4 lecture days is a short time to dive deep into economics for managers. Classes all day and self-study in the evening is tough and therefore the students received video material to watch before the start of the course. Every morning at the start of class the students had to take an in-class multiple choice knowledge test about the video material they received before. Through these videos the students could watch and absorb the information more easily and come well-prepared to class.

To learn about microeconomics, the behavior of consumers, producers and firms was discussed in order to understand the process of price formation and output determination in various market structures. Also part of this topic was to learn and understand how costs influence a firms’ profitability.

On the macroeconomic level, the students learned about the causes and consequences of economic fluctuations and economic growth. And how the government might influence the economy through stimulating economic growth and to stabilize inflation and unemployment at acceptable levels.

“This was one of the best courses in the Master in Management Program. The balance between theory and real time examples was perfect.” – Master in Management student

Company visit
Next to 4 lecture days there was also a day reserved for corporate visits in order to give the students some real-life experience. The Master in Management students went to Brussels on the last day of the course to visit the EU Commission, DG Agriculture and KBC Bank, where they met the chief economist of KBC Bank.

About the Master in Management
The MSM Master of Arts in Management (MM) program is a one-year full-time master’s program for recent graduates and young professionals (< 3 years of working experience) with the ambition to manage people and processes with success in any organization, country or context.

Our MM provides you with a first necessary step to fast-forward your career to higher levels by providing you with a solid foundation in the practice and theory of management in a fast-changing global world. During this course you will be provided with the opportunity to understand how to steer your organization to high performance in a diverse and multicultural international business context. You will learn from experienced faculty, international companies and fellow participants from different cultural, business and study backgrounds.

Interested to read more about our Master in Management curriculum? Have a look at HRM, Strategy and Planning and Management Science.

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