University of Southern California – Marshall School of Business
BUAD 200: Economic Foundations for Business, Fall 2011
Instructor
Dr. Bemis
E-mail: abarquez@usc.edu
Office Hours: Wednesdays and Thursdays 12:30 pm – 1:30 pm; or by appointment.
Description
The course objective is to develop the conceptual framework and core analytical tools
used in Microeconomics. It embeds these tools in a uniquely diverse collection of
examples and applications to illuminate the power and versatility of the economic way of
thinking. Students will be exposed to economic financial information used in making
effective business decisions. The goal is to help acquire the necessary fundamentals, the
skills of reasoning, and familiarity with key issues to allow students to continue learning
about the economic issues in the future.
Course Materials
Required: Hubbard and O'Brien Microeconomics 3rd Edition
ISBN 13 9780136021971 PEARSON
The ISBN for the Loose Leaf is- ISBN-13: 9780132705998
Required: Hewlett Packard 12C calculator with financial calculations.
No graphic calculators allowed.
Registration
If you are currently registered for the class, you must be present at one of the first two class
meetings to keep that registration. If you are absent from both, you will be dropped from the
class. If you are not registered for the class and wish to be, you should add your name to the signup sheet during both of the first two class sessions.
The success of this course is dependent on adequate preparation for classes by the
students and instructor. The most effective and efficient use of classroom time aims at
reinforcing or clarifying what YOU tried to learn on an individual (or group) basis prior
to coming to class.
You are responsible on exams for all material covered in the lectures. There is
significant lecture material not in the book and significant book material not in the
lectures, but the exams come from the lectures.
This is a course that requires your daily hands-on participation. You are required to
attend all class meetings, read the assigned materials, contribute to class discussions by
asking questions or presenting possible solutions to the questions of others, and to
complete the assigned problems.
Students bring experience, observation, reflection to the course. This class will
encourage students to think about the relationships between practice and theory, and to
find ways to draw from and build for their future endeavors. At the same time, this
course encourages participants to deepen their knowledge and understanding of
literatures and theoretical perspectives relevant to the study of Economics. Successful
students develop a sense of their goals and are motivated by questions to which they seek
answers through their study, professional practice, interactions with peers and faculty,
and on –going habits of inquiry.
Course Activities/Organization
Active participation is essential to successful completion of the course. The
preparation for such participation and the quality of participation each week will
constitute a major portion of the final grade assessment for each class member.
Course content will focus primarily on contemporary issues representing a broad
spectrum of areas in Economics. However, some allowance may be made for
accommodating additional issues raised during the course of the semester by current
events and the unique background of the class member interests.
Grading Basis
Your grade is made up of the following categories:
Homework Assignments and Group Case Studies, 5%
1. Homework Assignments: Students will receive approximately 8 assignments
over the course of the semester, each due before class starts on Thursdays.
2. Group Case Study: Students should work in groups of three to four. Each group will
be required to work on two cases and turn in an analysis on each.
3. Class Participation, 10%. Class Participation is a measure of a student’s positive or
negative impact on the class. An example of a positive contribution is asking questions in
lecture. An example of a negative contribution is being disruptive in lecture, especially
during exams.
4. Midterm Exams, 45%. There will be two midterm exams during the semester.
5. Final Exam, 40%.
Grading Criteria:
Grading Criteria:
Class Participation/Attendance
Midterm Exams
Homework & Case Studies
Final Exam
Total
10%
45%
5%
40%
100%
Homework
The homework grade will be assessed over approximately 8 assignments, each due on
Thursdays in class before class starts. Assignments will be given a grade of “check” or
“no credit”. A “check” will be assigned if homework is reasonably complete and correct,
while “no credit” will be assigned otherwise.
Homework assignments are to be completed in neat handwriting. There will be no typed
answers and no faxes accepted without permission before the due date.
Late homework will receive no credit.
Working in groups is encouraged, but each group member must turn in his or her own
separate write-up.
Homework will not be returned. Please keep a copy the homework assignment before
turning it in. Homework assignments are kept in storage.
Exams
All exams are closed book. You must take your exams in the lecture section to which
you are registered. Students must provide their own pencils.
You are required to be present for midterm exams and for the final exam during exam
week.
Sunglasses, hats, and other headgear are prohibited during exams except for verifiable
medical or religious reasons.
There are no make-up exams.
Availability: I care about each of my students and will make myself available as
needed to ensure student understanding of the course materials. You may also email me
24 hours a day. I will be happy to meet with you during office hours or after class, by
appointment.
Class Rules: Conducting yourself in a professional manner is essential to being
successful in any environment. This classroom is a safe platform to practice behaving in
a professional manner.
Professional decorum is based on respect for your colleagues and peers. Professional
decorum demands that your behavior show respect for the value of their time and yours,
respect for their time and yours, respect for their expertise, and respect for earned
positions.
Respect: Active participation in class requires a safe and trusting environment. It is
important for us to respect the views and comments made by others, even if we disagree
with such comments. I encourage critical discussion, yet it must be respectful, polite and
professional.
Academic Dishonesty
The use of unauthorized material and communicating with fellow students during an exam are
unacceptable. Examples of academic dishonesty include copying off another student, allowing
someone else to copy one’s own work, and refusing to stop when exam time is called. The
minimum penalty for academic dishonesty is to fail the class. The maximum penalty is expulsion
from the university.
Blackboard
The primary means for communication for BUAD 200 will be the Blackboard System
(http://blackboard.usc.edu). Grades will be distributed through this system. You are responsible
for registering your email address with Blackboard so that you can receive course material.
Disabilities
Any student requesting academic accommodations based on a disability is required to register
with Disability Service and Program (DSP) each semester. Please ensure that a letter of
verification is delivered to me as early in the semester as possible. Advance notice is very
important.
Course Outline and Readings
Class
1
Topic
8/25 Economics: Foundations and Models
Comparative Advantage
2
3
4
9/1 The Interaction of Demand and Supply
9/8
Chapters
1
2
3
Economic Efficiency
4
Externalities, Environmental Policy, and Public Goods
5
Elasticity
6
9/15 Firms, the Stock Market, and Corporate Governance
Gains from International Trade
7
8
Review
5
6
9/22
Midterm I
9/29 Behavioral Economics
9
7
10/6 Technology, Production and Costs
10
8
10/13 Firms in Perfectly Competitive Markets
11
9
10/20 Monopolistic Competition
12
REVIEW
10
10/27 Midterm II
11
11/3 Oligopoly: Firms in Less Competitive Markets
13
12
11/10 Monopoly
14
13
11/17 Pricing Strategy
15
14
11/24 Thanksgiving Holiday
15
12/1 Markets for Factors of Production
Review
12/8 FINAL EXAMINATION 2:00pm – 4:00 pm
16