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JOHN CABOT UNIVERSITY
COURSE CODE: "EC 310"
COURSE NAME: "Managerial Economics"
SEMESTER & YEAR:
Fall 2018
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SYLLABUS
INSTRUCTOR:
Rami Sabella
EMAIL: [email protected]
HOURS:
TTH 11:30-12:45 PM
TOTAL NO. OF CONTACT HOURS:
45
CREDITS:
3
PREREQUISITES:
Prerequisites: EC 201, MA 208
OFFICE HOURS:
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COURSE DESCRIPTION:
This course applies microeconomic theory and statistics to management problems of a firm. It bridges the gap between purely theoretical economic models and the day-to-day decisions that managers face under conditions of uncertainty and scarcity. The focus is on the optimal utilization of resources within organizations, and the material covered offers a powerful tool for managerial decision-making. A sample of topics to be examined are demand theory and estimation of demand functions; business and economic forecasting techniques; production theory; cost analysis; market structure; strategic behavior and pricing; risk analysis and capital budgeting; government-business relations and the global economy.
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SUMMARY OF COURSE CONTENT:
Part 1: Overview of Managerial Economics
Part 2: Demand Analysis and Estimation
Part 3: Production and Competitive Markets
Part 4: Imperfect Competition
Part 5: Long-Term Investment Decisions
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LEARNING OUTCOMES:
· Upon successful completion of the course a student will be able to
Decide on:
o which products to produce,
o what costs to consider,
o what prices to charge.
o the best hiring policy and the most effective style of organization,
o the most effective competitive strategy.
· Students will also be able to run risk analysis and capital budgeting are also shown as methods for introducing marginal analysis into the long-range strategic planning and control process.
· Students will be able to understand the role of government in the market economy, including the constraints it imposes on business, requires a careful examination of regulation and antitrust law.
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TEXTBOOK:
| Book Title | Author | Publisher | ISBN number | Library Call Number | Comments | Format | Local Bookstore | Online Purchase |
| Managerial Economics | Eric Bentzen, Mark Hirschey | Annabel Ainscow | 978-1-4737-0926-3 | | | | | |
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REQUIRED RESERVED READING:
RECOMMENDED RESERVED READING:
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GRADING POLICY
-ASSESSMENT METHODS:
| Assignment | Guidelines | Weight |
| First-Hour Exam | An exam of multiple choice questions, short problems and essays questions | 20% |
| Second-Hour exam | An exam of multiple choice questions, short problems and essays questions | 30% |
| Group Assignments | Case studies and assignments to be distributed in class. | 10% |
| Final Exam | Comprehensive exam | 40% |
-ASSESSMENT CRITERIA:
AWork of this quality directly addresses the question or problem raised and provides a coherent argument displaying an extensive knowledge of relevant information or content. This type of work demonstrates the ability to critically evaluate concepts and theory and has an element of novelty and originality. There is clear evidence of a significant amount of reading beyond that required for the course.
BThis is highly competent level of performance and directly addresses the question or problem raised.There is a demonstration of some ability to critically evaluatetheory and concepts and relate them to practice. Discussions reflect the student’s own arguments and are not simply a repetition of standard lecture andreference material. The work does not suffer from any major errors or omissions and provides evidence of reading beyond the required assignments.
CThis is an acceptable level of performance and provides answers that are clear but limited, reflecting the information offered in the lectures and reference readings.
DThis level of performances demonstrates that the student lacks a coherent grasp of the material.Important information is omitted and irrelevant points included.In effect, the student has barely done enough to persuade the instructor that s/he should not fail.
FThis work fails to show any knowledge or understanding of the issues raised in the question. Most of the material in the answer is irrelevant.
-ATTENDANCE REQUIREMENTS:
This course applies microeconomic theory and statistics to management problems of a firm. It bridges the gap between purely theoretical economic models and the day-to-day decisions that managers face under conditions of uncertainty and scarcity. The focus is on the optimal utilization of resources within organizations, and the material covered offers a powerful tool for managerial decision-making. A sample of topics to be examined are demand theory and estimation of demand functions; pricing; business and economic forecasting techniques; production theory; cost analysis; market structure; strategic behavior and pricing; risk analysis and capital budgeting; government-business relations and the global economy.
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ACADEMIC HONESTY
As stated in the university catalog, any student who commits an act of academic
dishonesty will receive a failing grade on the work in which the dishonesty occurred.
In addition, acts of academic dishonesty, irrespective of the weight of the assignment,
may result in the student receiving a failing grade in the course. Instances of
academic dishonesty will be reported to the Dean of Academic Affairs. A student
who is reported twice for academic dishonesty is subject to summary dismissal from
the University. In such a case, the Academic Council will then make a recommendation
to the President, who will make the final decision.
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STUDENTS WITH LEARNING OR OTHER DISABILITIES
John Cabot University does not discriminate on the basis of disability or handicap.
Students with approved accommodations must inform their professors at the beginning
of the term. Please see the website for the complete policy.
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SCHEDULE
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| Session | Session Focus | Reading Assignment | Other Assignment | Meeting Place/Exam Dates |
| Week 1 | Nature and Scope of Managerial Economics | Chapter 1 | | 11 Oct |
| Week 2 | Economic Optimization | Chapter 2 | | 11 Oct |
| Week 3 | Demand and Supply | Chapter 3 | | 11 Oct |
| Week 4 | Demand Analysis | Chapter 4 | | 11 Oct |
| Week 5 | Demand Estimation | Chapter 5 | | 11 Oct |
| Week 6 | Chapters 1,2,3,4 and 5 | Chapters 1,2,3,4 and 5 | | 11 Oct |
| Week 7 | First-Hour exam, exam solving. | Chapters 1,2,3,4 and 5 | | 11 Oct |
| Week 8 | Production Analysis and Compensation Policy | Chapter 7 | | 15 Nov |
| Week 9 | Cost Analysis and Estimation | Chapter 8 | | 15 Nov |
| Week 10 | Competitive Markets | Chapter 10 | | 15 Nov |
| Week 11 | Performance and Strategy in Competitive Markets | Chapter 11 | | 15 Nov |
| Week 12 | Monopoly and Monopsony | Chapter 12 | | 15 Nov |
| Week 13 | Second-Hour exam | Chapters 6,7,8,10,11, and 12 | | 15 Nov |
| Week 14 | Monopolistic Competition and Oligopoly | Chapter 13 | | 10 - 14 Dec |
| Week 15 | Pricing Practices | Chapter 15 | | 10 - 14 Oct |
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