[MANAGERIAL ECONOMICS ONLINE]
[EC.6000 ]
[***SUMMER, 2004***]
Instructor:
Professor Michael Tansey
Classroom:
C 205
Meeting Time: Wednesday 5:45-9:45 p.m.
Office:
CONWAY 313
Office hours: MF 10:45-noon. W. Noon to 1:00 p.m. and by appointment
Telephone:
(Cell phone at 913-485-7550)
E-mail:
michael.tansey@rockhurst.edu
Course Website: http://cte.rockhurst.edu/tanseym
This syllabus and chapters readings will be available on our course Website. Please send
all communications to my e-mail address (keep it below 1 megabyte please!!!). Please
allow a week for your finished assignments to be graded and for the new exercises to be
available to you at the website.
Since an important goal of this course is to achieve paperless communication, you will
need to have access to an e-mail address (please send it to me as soon as possible to my
e-mail address) and will need to send your assignments in Microsoft Word (2000),
Microsoft Power Point, and/or Microsoft Excel.. If you are used to using other programs
and are willing to provide a copy of those programs for me to use (legally!), I am willing
to try to become conversant with them (in other words, negotiate!).
Textbooks: None. The readings will be posted on the website for "Economics 6000" at
the above course website. While the course indicates the important subject matter to
learn, it is suggested that you find and consult managerial economics textbooks and any
other economics books that may be helpful on specific subjects. Particularly good
because it works problems out in detail is:
James McGuigan and R. Charles Moyer. Managerial Economics West Publishing Co.
7th ed. West Publishing Co., New York, 1996 (or later editions)
It is also assumed that you have access to a textbook in the Principles of Economics
(preferably the textbook used in your undergraduate economics course) to consult with
the basic theories and principles of economics. This course applies those theories and
presumes you already have exposure to them.
A subscription to the Wall Street Journal or New York Times is required. These two
publications provide digitized copies of their articles which you can get through your email by using the subscription number that is given to you on the label of the newspaper
you receive. That capability will be useful for the assignments, since all assignments
must be sent to the above e-mail address in digitized form. We will also use them because
the quality of their business reporting is more reliable than the internet materials for the
purposes of the course.
Course Description: This course presents managerial decision making applications from
the point of view of a firm (microeconomics). The position of the firm within the micro
and political economic world is considered with an emphasis on applying demand theory,
the theory of the firm, competitive analysis, forecasting, and law & economics.
Learning Objectives: After completing this course the student should be able to:
1) Apply supply and demand theory to forecasting and business studies.
2) Understand how to find and use basic data available from the bureau of labor
statistics, department of census, and other government agencies.
3) Apply forecasting and basic statistics (principally regression analysis) to managerial
economic problem solving.
4) Use EXCEL to analyze data. It is presumed you have had experience with EXCEL.
If not, tell the instructor of the course to set up sessions through which you can learn to
use EXCEL by the second week of the course.
5) Discuss and explicate basic issues concerning government intervention, emerging
global technologies, and ethics in the context of managing in different cultures.
6) Apply and explicate managerial economic theory to industry cases, media articles, and
other sources of information.
7) Perfect skills in writing and using Marketing Studies, Cost Effectiveness Studies,
Production Studies, Financial Statement, Capital Budgeting Studies, Cost Benefit
Studies, Industry Studies, Business Plans or other type of studies.
8) Develop the capability for studying and turning in assignments PAPERLESSLY.
9) Acquire the habit of reading quality media often and critically.
Course Requirements: The work done for this class must be done by the student
alone, except when teams are explicitly assigned to perform a task together. Generally,
each student will have a different set of homework problems to perform. If you need
help, consult directly with the teacher or use a Principles textbook with which you are
familiar.
ASSIGNMENTS: There are seven sections (and assignments) to the course which are
taken in order since they build cumulatively upon each other. Each section must be
passed with an 80% score or better on the assignments you receive each week. The
assignments can be turned in (sent to my e-mail address) anytime during the week.
 Please title the e-mail with your included assignment as
"MBG04SNameASSN0_". Where "Name" should be replaced with your name.
Where "0_ " should be replaced with the number of the assignment that is being
turned in.
 Please also name the files you send as "MBG04SNameASSN0_"
 If you resubmit an assignment then label it as
"MBG04SNameASSN0_resubmit#" where # indicates the number of
resubmissions.
 Place your class number (see syllabus) at the top left of all assignments
followed by your full name. On Excel spreadsheets make sure your class
number is placed in A1. Without that placement some assignments cannot
be completed.
GRADING OF ASSIGNMENTS:
 If you get your assignments done by 10:00 p.m. on the Wednesday night that it is
first assigned and you send it to my e-mail address, you have a very good chance
of getting a "90%" or better grade even with mistakes. These assignments will be
graded and available for the following lecture.
 If you get your assignment in before the next class you have a very good chance
of getting an "80%" or better grade, but the standard is higher and the graded
assignment will only be available two weeks after it is turned in.
 If you receive a grade below 80% on the assignment for a given section, you will
have to take the final exam and your grade on the final exam will substitute for
the section. However, if, by the time of the final, there are three sections graded
below 80% then it will not be possible to receive an “A” for the course, regardless
of the final exam grade. If there are four assignments graded at less than 80%,
then the grade will be a “C” or less, regardless of the final exam grade.
 Allow one week for my response to each assignment you turn in.
 The grade for the course will be a simple average of your seven assignment
grades.
Topical Outline
DATE SUBJECT (application) M&M Reading Studies
AssignmentWorksheet
June 2 *Government Intervention, 1,
2,17 and Cost#00
*Studies.
pp.49-53, inflation Benefit
(Excel &
17
adjustment
Data Preparation)
PPt:2, 17
9
Regression & Demand.
4,5,6
4, 5
Statistical, #1
#01,
PPt :4, 5 Marketing,
instructXL 4
Demand
tions
16
Production
7
7,
Production #2 Bring #02,
PPt: 7
Engineering Data to instructStudies
class
tions
23
Cost
8,9
8
Cost
#3
#04
PPt: 8
Effectiveness
30
Team meetings to cover
Team
assignment #4: no lecture
Meetings
during
class time.
July 7 Horizontal Relationship 11-14
10
Business
#5
#5
PPt:10
Plans
Additional
Help
14
Vertical Relationship
14
12, 13
Capital
#6
#6
Vertical template for
PPt:12, 13 Budgeting
Example
assignment
21
Pricing
Industry
#7
#7
Studies
28
Final Exam
*M&M, readings, assignments, and worksheets are shown on the dates they are first
assigned. On those dates the topics are introduced and covered in class. The
readings should be completed by the following lecture and assignments and
worksheets will be made on the basis of the readings for that lecture. Assignments
and worksheets can be turned in no later than the beginning of class the following
week.
When numbers appear in blue on the website you can click them to obtain copies.
The cumulative 4-hour final exam will be given on Wed. evening, Aug. 4, at 5:45 p.m.
Those not taking the final exam and who have turned in the final assignment, need not
attend on the evening of Aug. 4th.
Each Assignment consists of the following components covered in the readings posted on
the website for "Economics 6000"
1)
A media article which you will analyze and that will serve as an example of the
kind of article that you will find from the media.
2)
A recent media article (not more than 3 months old) that you will find on your
own from the media.
3)
A data retrieval exercise where you will find some data and then will apply
statistical techniques to solve a managerial economic problem.
4)
Analysis of a media article that describes a situation that might be analyzed with a
given type of study.
5)
Questions to check on your grasp of the reading.
Policies
GRADES. Grades
are awarded as follows based on the grades from completing all 6
sections:

if all assignments are completed with 80% or above (or the final exam substitutes
for two uncompleted sections) then the average of the grades across the sections
will be "A" if the average is above 90%+, and "B" if the average is 80%-89.9%,
"+" and "-" are used for borderline cases. The numerical limits may be eased
downward but will not be adjusted upward.

if more than two sections are not completed with 80% passing grades and the final
exam substitutes for the untaken sections then the average of the grades across the
sections will be "B" if the average is above 90%+, and "C" if the average is 80%89.9%, "+" and "-" are used for borderline cases. These numerical limits may be
eased downward but will not be adjusted upward.
 If, by the time of the final, there are three sections graded below 80% then it will
not be possible to receive an “A” for the course, regardless of the final exam
grade. If there are four assignments graded at less than 80%, then the grade will
be a “C” or less, regardless of the final exam grade.
 ON-Time Assignments. DUE BY ****10:00 p.m. Wed. evening (latest by 5:45 p.m. the
following Wed.) *** NO EXCEPTIONS because answer to the previous week assignment
are provided in the following lecture.


Individual Effort. All assignments (except assignment 4) and final exams must be done as an
individual effort.
Disabilities. If you have a disability that might affect your work( in or out of class), it is your
responsibility to contact Mike Anderson, director, access office, 109 Massman, 501-4856.
This office works with students and faculty in planning necessary accommodations.