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Managerial Economics
MBA 611
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Benedictine Hallmarks 2011-2012
STABILITY  STEWARDSHIP
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Addresses the educational
needs of adult students by
developing and providing
engaging, relevant and
accelerated programs.
blended model
MBA 611
Enhances scholarship,
leadership skills, social
responsibility, and promotes
life-long learning.
Provides high-quality, easily
accessible educational
opportunities for adult
learners.
Managerial Economics
Enables adults to earn
specific undergraduate and
graduate degrees while
maintaining their personal and
professional commitments.
student version
contents links
about this document
about Moser College
about blended learning
hallmarks of a Benedictine education
student expectations
attendance policy
submission of work
netiquette
_________________________
IDEA objectives & IDEA description
course overview
required textbooks
grading scale
learning outcomes
course schedule
external links
financial aid
library resources
Academic Honesty Policy
APA formatting and style
APA resources for students
Student Success Center (SSC)
services for students with disabilities
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Benedictine Current Students
Moser Center Student Information
Student Login to D2L
Student E-Mail Login
Academic Calendars
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Develops new degree and
non-degree programs that
address the expressed needs of
the professional community.
Moser College Mission
Statement: Moser College
embodies the values of respect,
excellence, collaboration, and
professionalism. We are
committed to delivering
innovative and dynamic
programs designed for adult
students who are dedicated to
enhancing their professional,
local, and global communities.
Moser College Vision
Statement: To be one of the
premier university colleges in
the nation.
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience
Discipline  Humility  Stewardship  Hospitality  Community
Benedictine
University
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Margaret and Harold Moser Center
1832 Centre Point Circle
Naperville, IL 60563
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Phone: (630)schedule
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Fax: (630) 829-1375
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Content Links
Managerial Economics | MBA 611
About Your Program at Benedictine University – Moser College
About This Document
This is a hypermedia document – it has been built to mimic navigation on the
web. This document can also be viewed as a presentation or it can be printed
like a traditional document. We use this sort of document because it allows for
navigation links (hyperlinks) to text, graphics, audio/video, and the web. This
type of document also allows you to navigate in a nontraditional, nonlinear way
– by following the page links you are not bound to read or flip through the
document in any sort of order. This is yet another example of Moser College’s
commitment to advancements in technology and blended learning.
About Moser College
The Moser College of Adult & Professional Studies delivers its curricular
programs in a specifically designed structure deliberately oriented for working,
adult learners. The Moser College is committed to providing a learning
environment which extends beyond the classroom and is designed specifically
to meet the needs of its students and their employers by bringing a quality
educational experience without requiring the student to relocate or travel
extensively beyond their home area. Benedictine University's Moser College of
Adult & Professional Studies is fully accredited by the Higher Learning
Commission of the North Central Association of Colleges and Schools*.
* web path
Benedictine Univ
Academic Programs
Moser College
About Blended Learning
Blended learning is the integration of different learning environments: mainly
the online format with the face-to-face format, but may also include mobile
learning. Blended learning, also referred to as hybrid learning, relies on both
the advantages of digital/technology innovation and the methods of face-toface instruction. At Moser College, we use blended learning by combining
asynchronous online classroom sessions with a face-to-face classroom
environment. We alternate between the online session and the face-to-face
session in 5-week courses, with the A session being face-to-face and the B
session being online.
hallmarks of a Benedictine Education:
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About
Managerial Economics | MBA 611
The Ten Hallmarks of a Benedictine Education
A Benedictine Education
Based on the Rules of Saint Benedict, a Benedictine
Education is based on the Benedictine Wisdom
Tradition that sets as its goals the transformation of the
Human mind AND Heart and has at its foundation “The
Ten Hallmarks of a Benedictine Education”.
The Ten Hallmarks
Each academic year Moser College will be celebrating
two of the Hallmarks. This academic year 2011-2012,
the Hallmarks Stability and Stewardship have been
chosen. The ten hallmarks are:
1. Love of Christ and Neighbor
2. Prayer: a Life marked by liturgy, lection and
Mindfulness
3. Stability: commitment to the daily life of this place,
its heritage and tradition
4. Conversatio: the way of formation and
transformation
5. Obedience: a commitment to listening and
consequent action
6. Discipline: a way toward learning and freedom
7. Humility: knowledge of self in relation to God,
others and creation
8. Stewardship: responsible use of creation, culture
and the arts
9. Hospitality: openness to others
10. Community: call to serve the common good
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Portrait (1926) by Herman Nieg
(1849–1928); Heiligenkreuz Abbey, Austria
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
4
Hallmarks
Managerial Economics | MBA 611
Student Expectations
Expectations of Students
In order to get the maximum use of the time available, it is expected that you
will:
•
Read the material to be covered in the class and complete required
assignments prior to attending the class/session;
•
Arrive/login to class/session prepared to participate actively;
•
Be prepared to actively participate in the collaborative activities of each
class/session; and
•
Always feel free to seek additional help from the instructor when the need
arises.
Attendance Policy
Students may not miss more than 25% of the live classroom sessions. Doing so
will result in an F for the course.
financial aid information
Submission of Work
All assignments are to be submitted into Desire 2 Learn (D2L) unless otherwise noted by instructor.
Assignments must be submitted by due date. Any assigned work submitted late for any unexcused
reason will receive a lowered grade. Please refer to your instructor’s late work policy located in D2L.
In the event that you miss an examination for due cause, arrangements must be made with the
instructor for a make-up examination. Important criteria concerning the submission of work:
•
Make-up examinations may differ from the original class examination.
•
Per University policy, assignments cannot be accepted by an instructor after the last day of the course.
•
Only discussions threads posted by 11:59 pm CST on the due date will count for grading purposes.
information concerning netiquette:
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Expectations
Managerial Economics | MBA 611
About Netiquette
What is Netiquette?
"Netiquette" stands for "Internet Etiquette", and refers to the set of practices which help to make the online
experiences pleasant for all involved. As you might expect, netiquette, like other forms of etiquette, is about
courtesy, manners, codes of behavior, protocols and respect. Netiquette primarily focuses on how we interact with
one another online, by being aware of: our use of language, others’ cultural background, conventional norms, and
other behaviors. Below you will find guidelines concerning the basics of online interaction. If it isn’t something you
would say or do in the face-to-face classroom, it is probably inappropriate in the online class as well.
Netiquette Basics
1. Follow the Golden Rule (“One should treat others as one would like others to treat oneself”)
2. Be ethical, fair, tolerant and mindful of others – avoid stereotyping, judgment and prejudice
3. Know the boundaries of particular cyberspaces – what is acceptable in a text or chatroom with friends may
not be appropriate in a classroom or in an online conversation with an instructor
4. Respect the time of others by: 1) using descriptive subject lines, 2) resizing images for the web, 3) providing
links instead of copying and pasting content, 5) using white space by inserting blank lines between paragraphs
and headers and 6) limiting your use of attachments
5. Copy the minimum number of people – it is tempting to send “email” or “message blasts” because it is easier
for the poster, but it is not easier for the reader
Inappropriate Online Usage
1. Avoid “flaming” – flaming is sending offensive, insulting or criticizing messages. This happens more often
online then in face-to-face interaction, because there is an illusion of anonymity.
2. Flaming is neither productive nor appropriate for the learning environment
3. Always avoid flaming when it comes to content and opinions, but also avoid it when it comes to grammar,
punctuation and spelling corrections
4. Avoid using CAPS if possible and never type messages in ALL CAPS – this is considered yelling and is often
seen as a form of aggression
5. Use emoticons ( :) , :( , :-) ) sparingly and avoid the use of JK, BRB, LOL and other text language
Confidentiality and Privacy
1.
2.
3.
4.
Email, messaging and posting are forms of written record and are just as permanent as a letter or document
Do not publicize your own or others’ personal information (such as email, phone numbers, last names etc.)
Respect copyright and cite any and all sources
Do not expect that your communications are private, instead assume all communications are public
For more information please review Netiquette by Virginia Shea
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course
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learning
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IDEA
schedule &
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
6
Netiquette
Managerial Economics | MBA 611
Individual Development and Educational Assessment
IDEA Objectives
•
Acquiring skills in working with others as a member of a team.
•
Developing creative capacities (writing, inventing, designing,
performing in art, music, drama, etc.)
•
Gaining a broader understanding and appreciation of intellectual/
cultural activity (music, science, literature, etc.)
•
Developing skill in expressing oneself orally or in writing.
•
Learning how to find and use resources for answering questions or
solving problems.
•
Developing a clearer understanding of, and commitment to, personal
values.
•
Learning to analyze and critically evaluate ideas, arguments, and
points of view.
•
Acquiring an interest in learning more by asking questions and
seeking answers.
IDEA Description
The IDEA student survey focuses on the instructor’s learning objectives for the course and on the
progress each student made toward achieving those objectives. By answering thoughtfully and
honestly, your ratings and comments will be much more helpful – to the instructor, the department
chair, and the dean of the college. As students, you should also know that student ratings and
comments have been used to help evaluate courses and to improve the educational experience at
Benedictine University. The appropriate standard of conduct with respect to student surveys is
thoughtful comments and constructive criticism – respectfully communicated.
A Focus on Learning
“The IDEA Student Ratings system looks at instruction in terms of its endgame. Rather than
emphasizing teaching style or personality, the IDEA system focuses on student learning and the
methods used to facilitate it.” – from the IDEA website: www.theideacenter.org/node/5
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7
IDEA
Managerial Economics | MBA 611
Student Evening Course Overview
Course Description
Applies microeconomic tools to business decision making. Topics include optimization, consumer
behavior, elasticity of demand, the use of regression analysis to estimate demand (revenues) and
costs, marginal analysis and market structure.
Course Materials
Required Textbook and Materials
Thomas, Christopher R. & Maurice, S. Charles (2013).
Managerial Economics – Foundations of Business Analysis and Strategy (11th ed.). New York, NY:
McGraw-Hill/Irwin. ISBN 9780078021718
Suggested Course Materials
Wall Street Journal, cnbc.com, marketwatch.com
Technological Computer Requirements
Students in the Blended program will need: High-speed Internet access; a sound card and speakers;
Windows XP (minimum)/Windows 7 (recommended) or Mac OS X 10.5 or higher; and Firefox 3.6 or
higher. It is also highly recommended that students have access to a microphone or webcam for
optional audio/videoconferencing.
Discussion Forum Guidelines
The Course Grading Scale
A
=
4.00
90 - 100%
EXCELLENT
B
=
3.00
80 – 89%
GOOD
C
=
2.00
70 – 79%
SATISFACTORY
D
=
1.00
60 – 69%
PASS
F
=
0.00
BELOW 60%
FAIL
I
=
INC
INCOMPLETE
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To receive a minimum passing grade, students must
make a post to each discussion question for that
week by day 4 of each week and respond to at least
two other postings by the end of the week. Individual
Posts are worth up to 5 points and the total
Response Posts are worth up to 5 points total. Each
discussion will total up to 10 points.
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
8
Course Overview
Managerial Economics | MBA 611
Student Evening Course Outcomes
Wk
1A
Learning Objective
Assignment
Distinguish between economic profit and
accounting profit.
In class activity
Pts
Explain & Illustrate PBL
PBL Step 1
1B
2A
Elaborate on the concept of present value and
explain its affects.
Individual chapter problems. Due in Dropbox before class
2A.
10
Design supply, demand and market equilibrium
curves
Team chapter problems. Due in Dropbox before class 2A
10
Construct price floor and price ceiling examples.
Discussion post and two response posts on D2L.
10
Build linear regression models.
In class activity
Explain & Illustrate PBL
PBL Step 2
2B
3A
Discuss, evaluate and summarize consumer
behavior.
Individual chapter problems. Due in Dropbox before class
3A.
10
Compile and predict results of the substitution
and income effects.
Team chapter problems. Due in Dropbox before class 3A
10
Develop and interpret elasticity.
Discussion post and two response posts on D2L.
10
Build demand estimation and forecasting.
In class activity
Explain & Illustrate PBL
PBL Step 3
3B
3B
Assess your knowledge.
In class quiz
25
Predict the outcomes of price setting.
Individual chapter problems. Due in Dropbox before class
4A.
10
Predict the outcomes of price setting.
Team chapter problems. Due in Dropbox before class 4A
10
Construct production costs n the short-run and
long-run.
Discussion post and two response posts on D2L.
10
about Bloom’s Taxonomy
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Learning Outcomes
Managerial Economics | MBA 611
Student Evening Course Outcomes
Wk
4A
Learning Objective
Assignment
Develop production and cost estimations
In class activity.
Pts
Explain & Illustrate PBL
PBL Steps 4 & 5
4B
5A
5B
6A
6B
home
Create managerial decisions in a competitive
market.
Individual chapter problems. Due in Dropbox before class
5A.
10
Discuss price making and price taking firms.
Team chapter problems. Due in Dropbox before class 5A
10
Choose managerial decisions for firms with
market power.
Discussion post and two response posts on D2L.
10
Design strategic decisions in oligopolistic
markets.
In class activity
Explain & Illustrate PBL
PBL Step 6
Assess your knowledge
In class quiz
25
Design strategic decisions in oligopolistic
markets.
Individual chapter problems. Due in Dropbox before class
6A.
10
Adapt and elaborate to risk and uncertainty.
Team chapter problems. Due in Dropbox before class 6A
10
Build advanced pricing techniques.
Discussion post and two response posts on D2L.
10
Discuss government regulation and its affect on
business.
In class activity.
Integrate economic concepts into a real life
business problem.
Final group project.
70
Discuss government regulation and its affect on
business.
Individual chapter problems. Due in Dropbox by end of
course
10
Compile the affects of market regulation on firms
and consumers.
Team chapter problems. Due in Dropbox by end of
course
10
Choose when government should intervene in the
market.
Discussion post and two response posts on D2L.
10
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Learning Outcomes
Managerial Economics | MBA 611
Student Evening Course Outcomes
Total Points for the Course
Discussion Questions
10 points each x 6
= 60 points
20% of the total points
Individual Written Assignments
10 points each x 6
= 60 points
20% of the total points
Team Written Assignments
10 points each x 6
= 60 points
20% of the total points
Quizzes
25 points each x 2
= 50 points
17% of the total points
70 points x 1
= 70 points
23% of the total points
Team Project and Presentation
Total Points for the Course
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= 300 points
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11
Learning Outcomes
Managerial Economics | MBA 611
Student Evening Course Schedule
Session
Loc.
Class Title
Assignments
01 A
F2F
Preliminary
Economics
•
•
•
•
No pre-assignment for session 1A
Discussion of Chapters 1-3.
Introduction to Problem Based Learning (PBL) assignment.
Team Activity: PBL Step 1 – Explore the issues.
01 B
online
Preliminary
Economics
•
•
Reading Assignment: Chapters 1-3.
Written Assignment – Individual: Chapter 1, page 36, Mathematical
Exercises 1-3.
Written Assignment – Team: Chapter 2, page 83, Applied Problems 110.
Discussion Topic: Coffee.
•
•
02 A
F2F
Demand Analysis
•
•
•
02 B
online
Demand Analysis
•
•
•
•
Review homework questions.
Review Chapters 4-6.
Team Activity: PBL Step 2 – List “What do we know”.
Reading Assignment: Chapters 4-6.
Written Assignment – Individual:
o Chapter 4, page 149, Technical Problems 1-5.
o Chapter 6, page 232, Applied Problems 1-2.
Written Assignment – Team:
o Chapter 4, page 153, Applied Problems 1-3.
o Chapter 5, page 187, Technical Problems 1-5.
o Chapter 6, page 232, Applied Problems 1-3.
Discussion Topic: Free market, insurers and government.
03 A
F2F
Production and
Cost Analysis
•
•
•
•
Review homework questions.
Review Chapters 7-9.
Quiz 1, covering Chapters 1-6.
Team Activity: PBL Step 3 – Develop and write out the problem
statement.
03 B
online
Production and
Cost Analysis
•
•
Reading Assignment: Chapters 7-9.
Written Assignment – Individual: Chapter 7, page 268, Technical
Problems 1-3.
Written Assignment – Team:
o Chapter 7, page 271, Applied Problems 1-2.
o Chapter 8, page 309, Applied Problems 1-3.
o Chapter 9, page 354, Technical Problems 1-2
Discussion Topic: Mergers and acquisitions.
•
•
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12
Course Schedule
Managerial Economics | MBA 611
Student Evening Course Schedule
Session
Loc.
Class Title
Assignments
04 A
F2F
Profit Maximization
•
•
•
Review Quiz 1 and homework questions.
Review Chapters 10-12.
Team Activity:
o PBL Step 4 – List possible solutions.
o PBL Step 5 – List actions to be taken with a timeline.
04 B
online
Profit Maximization
•
•
•
Reading Assignment: Chapters 10-12.
Written Assignment – Individual: Chapter 10, page 382, Applied
Problems 1.
Written Assignment – Team:
o Chapter 11, page 441, Applied Problems 1-3.
o Chapter 12, page 501, Applied Problems 1-5.
Discussion Topic: Pricing behavior.
•
05 A
F2F
Advanced Topics in
Managerial Economics
•
•
•
•
Review homework questions.
Review Chapters 13-15.
Quiz 2, covering Chapters 7-12.
Team Activity: PBL Step 6 – What do we need to know.
05 B
online
Advanced Topics in
Managerial Economics
•
•
•
Reading Assignment: Chapters 13-15.
Written Assignment – Individual: Chapter 13, page 561, Technical
Problems 1-2.
Written Assignment – Team:
o Chapter 13, page 565, Applied Problems 1-5.
o Chapter 14, page 616, Technical Problems 1-2.
Discussion Topic: Risk.
•
06 A
F2F
Government Regulation
and Business
•
•
•
Review Quiz 2 and homework questions.
Review Chapter 16.
Team Activity: PBL Step 7 – Present and defend conclusions.
06 B
online
Government Regulation
and Business
•
•
Reading Assignment: Chapter 16.
Written Assignment – Individual: Chapter 16, page 694, Technical
Problems 1.
Written Assignment – Team: Chapter 16, page 700, Applied
Problems 1.
Discussion Topic: Government intervention.
Team Activity: PBL Step 8 – Debrief your performance.
•
•
•
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13
Course Schedule