Abstract:

The article aims to show that computer simulations can be a useful tool for teaching managerial economics to students and managers. We use our own examples (case studies) and a unique managerial simulation software MANSI 1.0 developed at the Faculty of Management, University of Warsaw. The article presents its computational and teaching potential. As a starting point, a numerical example from the popular handbook Managerial Economics by A. Samuelson and S. Marks is used. The combination of managerial economics and computer simulations in MANSI 1.0 is a meaningful and needful complement to the classic set of tools for analysing microeconomic issues. The article shows that the optimum production calculated through the analytical method can also be verified by means of computer simulations. This will allow students and managers to focus solely on the interpretation of the obtained results and on drawing conclusions. Worth mentioning is that it was assumed, at the stage of software development, that MANSI 1.0 would be open, meaning that real data, for instance collected within companies, could be entered already in the first sheet.

Keywords:

Managerial economics, computer simulations, analytical method.