[MANAGERIAL ECONOMICS ONLINE]
[EC.6000 ]
[***SUMMER, 2004***]
Instructor:
Professor Michael Tansey
Classroom:
C 003
Meeting Time: M,F 8-10:15 a.m..
Office:
CONWAY 313
Office hours: MF 10:15-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 (choose EC
6000Docs
This syllabus and chapters readings will be available on our course Website of
EC6000Docs. 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:
Instead of using a textbook, we have the opportunity in an election year to use a book
which presents descriptions of dialogs about economics with the President of the United
States and Allan Greenspan of the Federal Reserve Board. The material of the book
below will provide insights into the economic theory and applications learned in this
course.
Suskind, Ron. The Price of Loyalty. New York: Simon & Schuster 2004
The readings will be posted on the website for "Economics 6000Docs" 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)
A subscription to the Wall Street Journal is also part of the course. The WSJ provides
digitized copies of its articles which you can get through your e-mail 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.
ASSIGNMENTS: There are 13 classes (and 7 assignments) to the course which are
taken in order since they build cumulatively upon each other. Each assignment 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
"MBD04LastnameASSN0a". Where "Name" should be replaced with your
name. Where "0a " should be replaced with the number of the assignment
that is being turned in.
Please also name the files you send as "MBD04LastnameASSN0a"
If you resubmit an assignment then label it as
"MBD04LastnameASSN0aresubmit#" 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 on the first worksheet. Place your last name in
cell B1. Place your first name in cell C1. Without that placement some
assignments cannot be completed.
Topical Outline
DATE SUBJECT (application) M&MReading PrinciplesStudies
Text
Assign
-ment
Due
June 14Macro Data (Excel & 1,
1
1-3
Country
WorkData Preparation)
17
Review Comparisons
Sheet #1
18
Fiscal Policy and Forecasting
18-19 Systems
#1
21
T-accounts, Banking System, 2,
Simulations
WorkFed.. Macro models
PPt 2
Fed Policy Model Sheet #2
25
Macro models
3,
Forecasting
#2, #2a
PPt 3
MODEL
class pracSUMMARIES
tice
28
International Finance
18
20-21 Global Bsns Plans WorkSheet #3
July 2 July 2: Arrange with your
Team
5(holiday)
team to do assignment
Meetings in
#3: no lectures on
Place of class
July 2 or July 5
Time on Jl 2
July 9 Demand (& Regression).4,5,6 Vertical
Marketing,
#3 DUE
markets
Demand
(Bring
Demand,
Data).
RegresWorksion
Sheet #4
12
Production
7
7
Production
#4 DUE
PPT 7
Engineering
workStudies
sheet #5
16
Cost
8,9 8
Cost
#5 DUE
PPT 8
Effectiveness
19
Horizontal Relationship 11-14 10
Production
WorkPPT 10
Studies again
Sheet #6
23
Vertical Relationship
14
12
Capital
#6 DUE,
PPT 12
Budgeting
Vertical
Template
26
Pricing
13
Industry,
WorkCost Benefit
Sheet #7
Studies
30
AAFP -No Class
Aug 2 Global Issues.
Review 20-21 Global Bsns. Plans#7 DUE
18
6
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 principles text refers to Bradley R. Schiller. The MicroEconomy Today,
9th edition New York: McGraw Hill 2003 AND study guide
GRADING OF ASSIGNMENTS:
 If you get your EXCEL assignment done by 10:30 a.m. on the Monday or Friday
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 on the EXCEL portion even with
mistakes. These assignments will be generally graded and available for the
following lecture.
 If you get your EXCEL assignment in before the next class you have a very good
chance of getting an "80%" or better grade on the EXCEL portion, but the
standard is higher and the graded assignment may only be available up to two
weeks after it is turned in. Since the answers to the EXCEL assignment will
normally be given the following week, they cannot be turned after 8:00 a.m. of
the day they are due.
 The Media and Non-EXCEL portions of the assignments can be turned in anytime
by e-mail over the week after which the assignment has been made, but no later
than 8:00 a.m. on the date the assignment is due.
 If you receive a grade below 80% on the total assignment for a given section, you
will have to take the final exam and your grade on the final exam will substitute
for the assignment. However, if, by the time of the final, there are three
assignments graded below 80% then it will not be possible to receive an “A” for
the course, even if the final exam or assignment grades average higher than 80%.
If there are four assignments graded at less than 80%, then the grade will be a “C”
or less,.
 The grade for the course will be a simple average of your assignment grades.
The cumulative 21/4-hour final exam will be given on Friday, Aug. 6, at 8:00 a.m.. Those
not taking the final exam (i.e. who have received 80% or better on all 7 assignments and
who have turned in the final assignment), need not attend on the August 6th final exam.
Each Assignment consists of some combination of the following components
covered in the readings posted on the website for "Economics 6000Docs"
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 in EXCEL 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 ****8:00 a.m. on morning of due date *** 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.
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.
Attendance:
Attendance is of great importance. Students who are absent more than one time, will
have their final course grade reduced by at least one full letter. The only exceptions are
made for University-sanctioned events, where I get an email from the sponsor.
Professionalism of Assignments: As most of us are preparing for a career in business
or other professional environment, assignments should be submitted as you would
submit them to a business. All assignments should reflect an air of professionalism that
will be required in your career. Assignments will be lowered by at least one letter grade
if not up to those standards.
Academic Honesty Policy: Students are expected to observe the University's policy on
academic honesty in all aspects of this course. Plagiarism (incorporating excerpts of
published works into documents or presentations without proper attribution of original
authors) and cheating (e.g., reliance upon unauthorized resources including, but not
limited to, professors, professionals and published materials and other students) are
serious breaches of ethics and professionalism in both academic and professional settings,
and as such have serious consequences. Page 236 of the 2002-2003 Rockhurst University
Catalog provides explicit examples of academic dishonesty. Pages 236-237 outline
procedures, penalties and due process accorded students involved in a form of academic
dishonesty.