Department of Economics Economics 552.01,L, D, E: MANAGERIAL ECONOMICS AND BUSINESS STRATEGY Winter Quarter, ---------Instructor Information Dr. Koushik Ghosh Office: Shaw-Smyser 427; E-MAIL: email@example.com Phone: 963-1914 Office Hours: Pending discussion in class. Course Description: This course covers the application of microeconomic theory and statistical methods, to managerial decision-making and business strategy. Statement of Purpose: This course fulfills one of the requirements for the Masters in Professional Accountancy Program. This course broadens the course content in the MPA program beyond the accounting discipline. It provides MPA students with skills and knowledge in managerial economics and business strategy that will help fulfill the program's objective of contributing to students' success in their careers and on the CPA exam. Course Outcomes: 1. Critical Thinking-the student will be able to use marginal analysis to critically analyze problems; and demonstrate the efficiency of this analytical tool by building scenarios in which this method of analysis can be used to develop optimum managerial decisions. 2. Quantitative Reasoning-the student will be required to demonstrate an understanding of probability theory. The student must be able to analyze statistical data, and interpret regression results. 3. Use of Mathematical Reasoning in Economics-the student must demonstrate an ability to use intuitive calculus to interpret economic models and equations, and hence analyze complex empirical equations. 4. Effective Writing-the student will be required to explain and interpret using economic theories, economic scenarios, which generate alternative solutions. They will be asked to compare and contrast the different equilibrium solutions and critically assess alternate viewpoints and methodologies. Text and Readings: (ADDITIONAL CLASS ANNOUNCEMENTS ABOUT BB POSTS) Michael R Baye. Managerial Economics and Business Statregy, 7th ed., McGraw Hill, 2011. In addition to other reading assignments it is recommended that students attempt to keep abreast of current events by reading a major daily newspaper, e.g. The Washington Post, The New York Times or the Financial Times. Course Requirements: 1. Additional readings and assignments may be announced in class. The effect of such assignments on your grade will be detailed in class, if and when they are announced. NO SPECIAL REQUESTS FOR INDIVIDUAL ASSIGNEMENTS TO IMPROVE THE GRADE WILL BE ENTERTAINED. 2. Students will receive an “F” if caught cheating. 3. University policies on withdrawals will be strictly adhered to. 4. Students are required to take all three exams and three quizzes. Grades will be computed using the scores of the three exams. The average quiz score may be used to substitute for one of the first two exams. No makeup quizzes or tests will be given. If for some valid reason a student cannot take the test/quiz when scheduled, the instructor must be notified before the test /quiz is given. In case the student is unable to take an exam at the scheduled time due to a valid reason the student will be allowed to use the quiz average to substitute for ONE EXAM that is not taken. 10 PERCENT OF THE QUIZ AVERAGE WILL BE ADDED TO THE SCORE OF YOUR FINAL EXAM. 5. Study questions and guides will be announced in class, and needs to be followed CAREFULLY to maximize chances of success in the course. Final Exam: The comprehensive final, WHICH IS MANDATORY, will be administered on WEDNESDAY of finals week, during the regular class time. Tentative dates for exams and quizzes: Quizzes and exams will be administered approximately every 3 and a half weeks. This APPROXIMATE schedule will be firmed as course progresses-WATCH FOR BB ANNOUNCEMENTS, CHECK CWU E-MAIL AND FOLLOW INTRUCTIONS IN CLASS. Approximate Grade Scale: (MINOR ADJSUTMENTS MAY BE MADE) A 92% B+ 86% B- 80 C 72% D+ 64% D- 56% A- 89% B 82% C+ 76% C- 68% D 60% PLEASE FOLLOW INSTRUCTIONS IN CLASS FOR ANY CHANGES TO THE ABOVE INFORMATION. Course Outline: (WATCH FOR ADDITIONAL CLASS ANNOUNCEMENTS ABOUT BB POSTS and SELECTIONS FROM THE FOLLOWING CHAPTERS) Topics Chapter 1 The Fundamentals of Managerial Economics Chapter 2 Market Forces: Demand and Supply Chapter 3 Quantitative Demand Analysis Chapter 4 The Theory of Consumer Behavior Chapter 5 The Theory of Production and Cost Chapter 6 The Organization of the Firm Chapter 7 The Nature of Industry Chapter 8 Managing Competitive, Monopolistic, and Monopolistically Competitive Markets Chapters 9 Basic Oligopoly Models Chapter 10 Game Theory: Inside Oligopoly Chapter 11 Pricing Strategies for Firms with Market Power Chapter 12 The Economics of Information Chapter 13 Chapter 14 Advanced Topics in Business Strategy Government and Markets College of Business Honor Code: As College of Business students we pledge to uphold these standards of professionalism and conduct ourselves in accordance with them. We will not lie, cheat, or steal, and will not tolerate those who do. Our behavior defines who we are and what we will become. Disability Support Services: Student with disabilities who wish to set up academic adjustments in this class should give me a copy of the “Confirmation of Eligibility for Academic Adjustments” from the DSS Office as soon as possible so we can discuss how the approved adjustments will be implemented in this class. Students without this form should contact Disability Support Services Office, Bouillon 205 or firstname.lastname@example.org or 963-2171.