WEBSTER UNIVERSITY

BUSN 6120 - MANAGERIAL ECON               DR. D. WESTERFIELD    CHA AM & BANGKOK, THAILAND
Summer 2009                                                                         Tele: 968-7155 FAX 968-7077

DESCRIPTION:

The student examines the application of microeconomic theory as applied to the managers' responsibilities within the organization.  This course should emphasize the quantitative and qualitative application of economic principles to business analysis.  Prerequisites: BUSN 5620 and BUSN 5760.

INCOMING COMPETENCY:

Acceptance into the Graduate program. All assignments are assumed to have been read and end of chapter problems attempted prior to each class. Learn or become familiar with EXCEL prior to class or during first week. EXCEL software and a hand calculator with Yx, Y1/x, ex, lnx, and other scientific functions will be required to solve assigned and classroom problems during every class.  The derivative will be taught and used throughout this course. See list of review problems below.

COURSE GOALS:

1. To help the student acquire analytical tools required for advanced economic analyses.
2. To help the student apply the proper advanced analytical tools to a broad range of business problems and situations in Business and  Industry.

Note:  The schedule given below requires quite intense study the first 3 weeks because you will be learning new techniques.  Be sure to learn your calculator, EXCEL, and and to attempt the methods given in the analytical sections of the text prior to class so that you don't get behind.  

 

Week      1              Fundamentals of Managerial Economics                                                                                      Ch 1

                                Market Forces: Demand and Supply                                                                                             Ch 2

 

Week      2              Quantitative Demand Analysis                                                                                                        Ch 3

                                Theory of Individual Behavior                                                                                                         Ch 4

 

Week      3              Production  Process and Costs                                                                                                          Ch 5

                                Organization of the Firm                                                                                                                    Ch 6

 

Week     4                Problem Solving and Review for Exam - Very Important Session

                                EXAM - SEE EXAM SCHEDULE   

 

Week      5              The Nature of Industry                                                                                                                      Ch 7

                                Managing Different Market  Structures                                                                                          Ch 8

 

Week      6              Basic Oligopoly Models                                                                                                                     Ch 9

                                Pricing Strategies for Firms with Market Power                                                                             Ch 11

 

Week      7              Manager’s Guide to Government in the Marketplace                                                                  Ch 14

                                Economics of Information                                                                                                                Ch 12

                                                 

Week      8              GameTheory:Inside Oligopoly(IdentifyConcepts)Ch10

                                Problem Solving and Student Problems

                                FINAL EXAM - SEE EXAM SCHEDULE 

 

Note:  No Make-up Exams or Re-Exams will be given.  Extreme emergencies may be considered.           

                                                 

REQUIRED TEXT:
Baye, Michael. Managerial Economics & Business Strategy  4th Ed. (Boston: Irwin McGraw-Hill, 2003) ISBN 0-07-248793-3.

 

DETERMINATION OF GRADE:
2 Exams = 75%,  Class Activities = 10%,  Assigned Problems = 15% (See schedule below)
Grade Categories: A = 90-100%, B = 80-89%, C = 70-79%, F = Below 70%

 

The use of any type electronic signaling, telecommunications, or recording device in the classroom is strictly prohibited.  Use of such device in the classroom will be grounds for your removal from class or for the device to be taken from you until the end of the class.

 

ASSIGNED PROBLEMS   (to be handed in as 15% of Final Grade)

IMPORTANT NOTE:  Some answers to these problems are given in the text.  In order to receive any credit for your work, the problems must be: (a) derived fully with references to text concepts,  (b) derived using EXCEL to the extent possible with all equations in the problems and tables  presented  in EXCEL   (c) accompanied by specific discussion of economic concepts underlying any solution technique used, (d) handwritten work in lieu of Excel derived work will not be accepted for credit.

·          Ch 1 - 3,4,8,9 (Due 2nd week)

·         Ch 2 – 2 thru 7  (Due 3rd  week)

·          Ch 3 – 1 thru 5  (Due 3rd week)

·          Ch 4 – 1 thru 7  (Due 4th week)

·         Ch 5 – 1 thru 4, 7  (Due 4th week)

·         Ch 6 - 1,5,6,9,12 (Due 5th week)

·         Ch 7 – 1 thru 6  (Due 6th week)

·         Ch 8 – 1 thru 4  (Due 7th week)

·         Ch 9 - 1,2,5,8  (Due 7th week)

·         Ch 11 – 1,4,5,6  (Due 8th week)

·          Ch 12 – 4 thru 7  (Discussed in Class)

 Grading for Assigned Problems:  S = Superior;  O = Acceptable;  R = Borderline Acceptable;    U = Unacceptable  (Late or incomplete problems may not be accepted for grading.)  Assigned problems are due at the beginning of class on the assigned class meetings.


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THIS SYLLABUS MAY BE REVISED - ITEMS ADDED, DELETED, OR CHANGED - WITHOUT NOTICE AND AT THE OPTION OF THE PROFESSOR.

 

WEBSTER UNIVERSITY HAS A POLICY AGAINST CHEATING AND PLAGIARISM. CHEATING MAY RESULT IN FAILURE IN COURSE, ACADEMIC PENALITY, OR BOTH.

Review the Authors' materials on the Textbook Authors' HomePage
 

 

Webster University Attendance Policy

2003-2005 Graduate Studies Catalogue

"Academic Policies and Procedures"  p. 27  "Course Attendance"

"The University reserves the right to drop students who do not attend class the first week of the term/semester.  Students are expected to attend all classes of every course.  In the case of unavoidable absence, the student must contact the instructor.  The student is subject to appropriate academic penalty for incomplete or unacceptable makeup work, or for excessive or unexcused absences.  Generally, a student who misses more than one four-hour course period (per course) without a documented military or medical excuse and advanced permission from the instructor should withdraw from the class."