Chang School of Continuing Education.
CGMS 402: Introduction to Managerial Economics.
Winter 2025, Section: 3J0.
Virtual Classes on ZOOM every Wednesday 6:30 pm.
Instructor Information
•
•
•
•
Instructor Name: Usman Malik.
Office Hours: Not Applicable
Course Website: my.torontomu.ca
Email Address: umalik@torontomu.ca
Email Policy:
Students must use the e-mail address listed above to communicate with the instructor. E-mails sent
Monday to Friday will be answered within 24 hours. Students are required to activate and maintain
a Ryerson Matrix e-mail account. This shall be the official means by which you will receive
university communications. Faculty will not respond to student enquiries from any other e-mail
address. See Pol# 157 found at www.ryerson.ca/senate/policies for further information on this
issue.
Course Description:
A primary emphasis of managerial economics is the application of economic theory and
methodology to the practice of business management and decision making. Students will learn
how economic tools can be applied to achieve business goals and to address managerial
challenges. Topics include: optimization, risk analysis, demand/supply theory and estimation,
production and cost theory, market structure and pricing practices, and the economics of
information.
Course Details:
Teaching Methods:
The course combines notes and discussions on key concepts, research, current practice, and
historical perspectives with use of text readings. Learning is accomplished by linking course
concepts to text and drawing from real world situations in an interactive manner between the
instructor and the class and between fellow classmates. Some of the assigned chapter problems
will be taken up in class discussions. Doing the assigned problems sets each week is important
for the learning objectives to be accomplished.
1
Chang School of Continuing Education.
Course Materials
TEXTBOOK:
Michael Baye & Jeff Prince, Managerial Economics and Business Strategy, 10th Edition,
McGraw-Hill, 2021. ISBN 978 1 266 07101 0. Price, Print version $70 .00, eBook $62.33
(McGraw Hill price.)
The course material will be supplemented with other readings from articles and journals.
Course Learning Outcomes:
Upon completion of the course, students will be able to:
• Understand the basics of demand, supply, costing and price, consumer behaviour and apply these
concepts to the business world
• Understand market structure and varying forms of competition and the regulation of competition
in industries
• Understand uncertainty, risk and competitive moves in real world situations.
Academic Integrity and Plagiarism:
Toronto Metropolitan University’s Policy 60 (now called the Academic Integrity policy) applies
to all students at the University. The policy and its procedures are triggered in the event that the
there is a suspicion that a student has engaged in a form of academic misconduct.
Forms of academic misconduct include plagiarism, cheating, supplying false information to the
University, and other acts. The most common form of academic misconduct is plagiarism.
Plagiarism is a serious academic offence and penalties can be severe. In any academic exercise,
plagiarism occurs when one offers as one’s own work the words, data, ideas, arguments,
calculations, designs or productions of another without appropriate attribution or when one allows
one’s work to be copied.
All academic work must be submitted using the citation style approved by the instructor. Students
may refer to TMU’s Library’s list of Citations and Style Guides for more information.
It is assumed that all examinations and work submitted for evaluation and course credit will
be the product of individual effort, except in the case of group projects arranged for and
approved by the course instructor. Submitting the same work to more than one course,
without instructor approval, is also considered a form of plagiarism.
2
Chang School of Continuing Education.
Students are advised that suspicions of academic misconduct may be referred to the Academic
Integrity Office (AIO). Students who are found to have committed academic misconduct will have
a Disciplinary Notation (DN) placed on their academic record (not on their transcript) and will be
assigned one or more of the following penalties:
• A grade reduction for the work, include a grade of zero for the work.
• A grade reduction in the course greater than a zero on the work. (Note that this penalty can only
be applied to course components worth 10% or less, that any additional penalty cannot exceed
10% of the final course grade, and that information explaining that such a penalty will be assigned
must be included on the course outline.)
• An F in the course
• More serious penalties up to and including expulsion from the University
For more detailed information on these issues, please refer to the full online text for the Academic
Integrity policy and to the Academic Integrity website.
Topics and Course Schedule:
3
Modules.
Weeks.
TOPICS
READINGS
Module 1
..January
15.
. Module 2
January 22.
Module 3.
.January 29.
Module 4.
.February 5.
Module 5.
February
12.
Reading
week.
Module 6.
February
26.
Module 7.
.March 5..
Module 8.
March 12..
Module 9.
March 19. .
Week 1.
Introduction to Managerial
Economics.
Reading: Chapter 1.
Week 2
Applied Econometrics
Reading: Chapter 1.
Week 3.
Demand and Supply.
Reading: Chapter 2.
Week 4
Price and Income elasticity.
Reading: Chapter 3:
Week 5
Production Costs.
Reading: Chapter 5.
February 15 to February 21.
:
Week 6
Mid-term test
Chapters 1 to 5.
Week 7
Competition Vs. Monopoly
Reading: Chapter 8.
Week 8
Oligopoly
Reading: Chapter 9
Week 9
Game Theory.
Reading: Chapter 10.
Chang School of Continuing Education.
Module 10.
. March 26.
Module 11.
April 2.
Module 12.
April 9..
Final
Exam.
April 16.
Week 10.
Game Theory.
Reading: Chapter 10.
Week 11
Economics of Information.
Readings: Chapter 12
Week 12.
General Revision.
Week 13.
Final Exam (Comprehensive exam covers the entire course.)
.
NOTE: Additional readings (posted to blackboard) will be provided and additional
problems may be suggested for practice by the course instructor.
The grade for this course is composed of the mark received for each of the following
components:
Evaluation:
Type of Assessment
Percent/Weight
Dates.
Mid-Term Exam test
35.
February 26, 2025. Time
6:30 pm to 8:15 pm. In
class exam.
Assignment
25.
Due date is April 2, 2025.
At 11:59 pm.
Final Examination
40.
TOTAL
100%
Wednesday April 16,
2025. .Time is 6:30 pm to
8:15 pm. In Class Exam.
.
The Mid -term exam and the Final exam contain multiple choice and short answer questions..
Your Mid-term results will be available before Friday March 28, 2025.
Late submission of the Assignment is not permitted. If an Assignment is submitted late, a penalty
of 20% per day will be applied.
4
Chang School of Continuing Education.
Course Management:
Every effort will be made to manage the course as stated. However, adjustments may be necessary
during the term at the discretion of the instructor. If so, students will be advised, and alterations
will be discussed prior to implementation through Blackboard announcements.
University Policies:
Students must be reminded that they are required to adhere to all relevant university policies
found in their online course shell in D2L and/or on the Senate website.
Important Resources Available at Toronto Metropolitan University
•
The University Libraries provide research workshops and individual consultation
appointments. There is a drop-in Research Help desk on the second floor of the library,
and students can use the Library's virtual research help service to speak with a librarian,
or book an appointment to meet in person or online.
•
Student Life and Learning Support offers group-based and individual help with writing,
math, study skills, and transition support, as well as resources and checklists to support
students as online learners.
•
You can submit an Academic Consideration Request when an extenuating circumstance
has occurred that has significantly impacted your ability to fulfill an academic
requirement. You may always visit the Senate website and select the blue radio button on
the top right hand side entitled: Academic Consideration Request (ACR) to submit this
request.
For Extenuating Circumstances, Policy 167: Academic Consideration allows for a once
per semester ACR request without supporting documentation if the absence is less than 3
days in duration and is not for a final exam/final assessment. Absences more than 3 days
in duration and those that involve a final exam/final assessment, always require
documentation. Students must notify their instructor once a request for academic
consideration is submitted. See Senate Policy 167: Academic Consideration.
5
•
If taking a remote course, familiarize yourself with the tools you will need to use for
remote learning. The Remote Learning Guide for students includes guides to completing
quizzes or exams in D2L Brightspace, with or without Respondus LockDown Browser
and Monitor, using D2L Brightspace, joining online meetings or lectures, and
collaborating with the Google Suite.
•
Information on Copyright for Faculty and students.
•
Information on Academic Integrity for Faculty and students.
Chang School of Continuing Education.
Accessibility:
•
Every effort has been made to ensure that the course material is available to the students
who have difficulty in Accessing the slides.
•
If a student has a difficulty in getting access to the material posted on the course website,
they should get in touch with the Instructor through TMU email account.
Academic Accommodation Support:
Academic Accommodation Support (AAS) is the university's disability services office. AAS
works directly with incoming and returning students looking for help with their academic
accommodations. AAS works with any student who requires academic accommodation
regardless of program or course load.
•
Learn more about Academic Accommodation Support.
•
Learn how to register with AAS.
•
Learn about Policy 159: Academic Accommodation of Students with Disabilities
Academic Accommodations (for students with disabilities) and Academic Consideration (for
students faced with extenuating circumstances that can include short-term health issues) are
governed by two different university policies. Learn more about Academic Accommodations
versus Academic Consideration and how to access each.
Wellbeing Support:
At Toronto Metropolitan University, we recognize that things can come up throughout the term
that may interfere with a student’s ability to succeed in their coursework. These circumstances
are outside of one’s control and can have a serious impact on physical and mental well-being.
Seeking help can be a challenge, especially in those times of crisis.
If you are experiencing a mental health crisis, please call 911 and go to the nearest hospital
emergency room. You can also access these outside resources at anytime:
•
Distress Line: 24/7 line for if you are in crisis, feeling suicidal or in need of emotional
support (phone: 416–408–4357)
•
Good2Talk: 24/7-hour line for postsecondary students (phone: 1-866-925-5454)
•
Keep.meSAFE: 24/7 access to confidential support through counsellors via My SSP app
or 1-844-451-9700
If non-crisis support is needed, you can access these campus resources:
•
6
Centre for Student Development and Counselling: 416-979-5195 or email
csdc@torontomu.ca
Chang School of Continuing Education.
•
Consent Comes First – Office of Sexual Violence Support and Education: 416-9195000 ext 3596 or email osvse@torontomu.ca
•
Medical Centre: call (416) 979-5070 to book an appointment
We encourage all Toronto Metropolitan University community members to access available
resources to ensure support is reachable. You can find more resources available through the
Toronto Metropolitan University Mental Health and Wellbeing website.
7