TROY UNIVERSITY
MASTER SYLLABUS
SORRELL COLLEGE OF BUSINESS
EMBA 6651
Managerial Economics
Prerequisites
EMBA 5501.
Description
A study of the decision-making process of business firms in the resource allocation process. Both
the functioning of markets and the decisions of firms in a variety of market structures are
considered. Various theories of the firm are used to study the optimal decision-making rules for
business firms under conditions of uncertainty.
Objectives
On completion of the course, the student should be able to:
1. Apply mathematical formulations of microeconomic models to real-world managerial
problems, using basic calculus techniques, linear programming, and function maximization,
minimization, and optimization to determine optimal price and production levels for a firm.
2. Synthesize price theory, optimizing techniques, and elasticity concepts within the four
market structures to solve real-world managerial problems.
3. Apply demand theory, demand estimation, cost theory, and cost estimation to managerial
decision-making in product pricing and production levels.
4. Demonstrate familiarity with the literature on microeconomics.
5. Explain the concept, applications, and implications of competitive advantage, including the
importance of aligning core products with core competencies and core values.
Purpose
To provide strong familiarity with the theories and quantitative techniques of managerial
economics, i.e., applied microeconomic analysis. In particular, these theories and techniques will
be used to show how optimal economic solutions are reached by managers who operate firms in
various market environments. The aspects of economics which are relevant to the managerial
decision-making processes are stressed. The basic techniques of calculus will be applied when
solving various problems. EMBA core requirement (non-Accounting).
Master Syllabi are developed by the senior faculty in each business discipline. This Master Syllabus must be used as the basis for developing the
instructor syllabus for this course, which must also comply with the content specifications outlined in the Troy University Faculty Handbook.
The objectives included on this Master Syllabus must be included among the objectives on the instructor’s syllabus, which may expand upon the
same as the instructor sees fit. The statement of purpose seeks to position the course properly within the curriculum and should be consulted by
faculty as a source of advisement guidance. Specific choice of text and other details are further subject to Program Coordinator guidance.
1 August 2005
Master Syllabus: EMBA 6651
2
Approved Texts
Hirschey, M. (2006 or current). Managerial economics (11th ed.). Mason, OH: Thomson/SouthWestern.
Png, I. (2001 or current). Managerial economics (2nd ed.). Malden, MA: Blackwell.
Supplements
Coase, R. H. (1988). The firm, the market, and the law. Chicago, IL: University of Chicago
Press.
Oster, S. M. (1999 or current). Modern competitive analysis (3rd ed.). New York, NY: Oxford
University Press.
Troy State University Faculty Handbook (2001): Section 3.8.2.8 [extract]—22 essential elements of the syllabus (somewhat modified for space):
a.
b.
c.
d.
e.
f.
g.
Course title
Course number
Term
Instructor
Prerequisites
Office hours
Class days, times
h.
i.
j.
k.
Classroom location n. Grading methods,
Office location
criterion weights,
Office telephone
make-up policy,
Course description,
mid-term grade
objectives
reports
l. Text(s)
o. Procedure, course
m. Other materials
requirements
p. General supports
r. Additional services u. Cheating policy
(computer works,
(Americans with
v. Specialization
writing center)
Disabilities Act,
requirements
q. Daily assignments,
other statements)
(certification,
holidays, add/drop s. Absence policy
licensure, teacher
& open dates, dead t. Incomplete-work
competencies)
day, final exam
policy