PRE-MBA COURSE SYLLABUS
Course Number:
PMBA 604
Course Title:
Introduction to Economic Analysis
Instructor:
Professor Ingo BÖBEL, Dr. Dr. habil.
Contact Information:
Personal website: http://ibobel.pbwiki.com
Telephone: +37797986986
Email: ibobel@monaco.edu
Credits:
Non-Credit Course; Graded Pass/Fail
Course Length and Dates: 18 hours (September 2-9, 2008)
Location:
MBA 2 Classroom, IUM Campus
Course Description:
This course introduces students to the basics of macro- and
microeconomics (the study of the effects on the national
economy of the choices that individuals, businesses, and
governments make; and the workings of markets and industries, in particular the way firms compete with each other).
The course sheds light on what is happening around the
world and how this affects business decisions.
Students will learn ways of analyzing the impact that the
macroeconomic environment and microeconomic factors
such as the process of market interaction have on the operations and decisions of a company they choose to examine.
This will underpin a great deal of the subject matter they will
later encounter in MBA coursework.
Pre-MBA Session Objectives
The Pre-MBA Session is designed to ensure potential students are academically prepared for the demanding nature of MBA coursework.
It seeks to provide a basic understanding of business principles and the skills necessary
for their efficient application, as well as a survey of and introduction to the types of
subject matter – and their particular challenges – students may encounter. As well, it
provides grounding in communication and presentation skills in the cross-cultural context.
All Pre-MBA courses seek to achieve the objectives on the next page.
IUM Graduate Programs: Course Syllabus
PMBA 604: Introduction to Economic Analysis, September 2008
The Pre-MBA Session objectives are to:
Objectives
Assessment
% of
Grade
1. Prepare students to understand the
vital role cultural factors play in Case studies, lecture, reading.
modern business.
N/A
2. Provide students with a basic,
general grounding in critical manLectures, reading, and discussion.
agement theory and practice, and
business functions.
N/A
3. Emphasize the importance of an
ethical approach to business and a Lectures, class participation, teamrespect for differences of all work, case studies.
kinds.
N/A
4. Diminish students’ apprehension Case studies explained by the instrucat encountering new and challeng- tor, exercises completed under time
ing subject matter.
constraints, and guided exegesis.
N/A
5. Familiarize students with the IUM
instructional philosophy and style
of balancing theory and applicaGuided exercises, lectures, focused
tion: a blend of lectures, case
reading, supervised real-world prostudies, practical research, techjects, and Internet exercises.
nology use, and implementation
of advanced methods of management analysis and practice.
N/A
Dr. Ingo Böbel; Last Revised: 2/9/2016
This syllabus is subject to change.
IUM Graduate Programs: Course Syllabus
PMBA 604: Introduction to Economic Analysis, September 2008
Course Learning Outcomes
On successful completion of this course, students will be able to:
Outcomes
Assessment Events
% of
Grade
1. Better understand the world in
Exercises, reading, and discussion.
which they live
N/A
2. Be a more astute participant in the
economy through gaining insights
Exercises, reading, and discussion.
and new perspectives on how to
make economic decisions
N/A
3. Better understand the potential
Exercises, reading, and discussion.
and the limits of economic policy
N/A
4. Better apply the fundamental
principles of (micro- and macro-)
Exercises, reading, and discussion.
economics in many of life’s situations
N/A
5. Better understand the way how
Exercises, reading, and discussion.
economists think
N/A
6. Relate economic concepts to an
environment that will be familiar
Exercises, reading, and discussion.
and interesting to an international
student.
N/A
Dr. Ingo Böbel; Last Revised: 2/9/2016
This syllabus is subject to change.
IUM Graduate Programs: Course Syllabus
PMBA 604: Introduction to Economic Analysis, September 2008
Teaching Philosophy
and Methodology
All IUM graduate courses focus on the multicultural perspectives
inherent in the University’s mission. This means that course
topics will highlight the national and cultural differences students bring to class as well as the borderless nature of modern business.
IUM graduate students will be expected to display satisfactory analytical and problem-solving skills, and to present subject matter in novel ways depending on the application of
these skills.
This course is taught through a combination of readings, lectures, case studies, discussions, and individual and team exercises. The teaching methodology emphasizes a practical
approach and real-world applications, as well as a focus on
best business and industry practices.
Sufficient time will be devoted to a frank and open exchange
of views between students, and with the instructor. Student
participation in class discussions is encouraged through an
interactive teaching style, and the instructor will endeavor to
provide personalized attention – especially when students encounter problems.
Attendance
Attendance is compulsory and will be taken at each class.
Absences based on religious beliefs may be accepted and in
such cases students will have the opportunity to make up the
work missed through such an absence. The Program Director’s prior written approval is required for such absences.
All requests for absences based on religious beliefs will be
treated on a case-by-case basis.
Academic Honesty
One of IUM’s primary goals is to foster the highest standards
of academic integrity; faculty, administrators, and students
share responsibility for achieving this goal.
In this context, IUM views any form of academic dishonesty
as unacceptable and subject to disciplinary action.
The IUM administration is responsible for establishing procedures to support and enforce the University’s academic
standards; students are responsible for maintaining standards
of academic performance and classroom behavior.
The University considers any violation of these standards as
a serious matter, and those students who are unwilling or unable to adhere to them will not be permitted to remain at
IUM.
Dr. Ingo Böbel; Last Revised: 2/9/2016
This syllabus is subject to change.
IUM Graduate Programs: Course Syllabus
PMBA 604: Introduction to Economic Analysis, September 2008
Grades and Grading
All Pre-MBA Session courses are graded “PASS/FAIL.”
Students will not be permitted to enroll in the IUM graduate
degree to which they have applied unless they satisfactorily
complete the Pre-MBA Session.
Satisfactory completion in this context means a grade of
“PASS” in all Pre-MBA Session courses.
If requested, a Certificate of Completion will be awarded to
students who successfully complete the Pre-MBA Session.
Course Material
There are no required course materials or textbooks for
Pre-MBA Session courses.
The following material may be helpful for a better understanding
of
the
course
content:
1. HARVARD BUSINESS SCHOOL NOTE: “Economics: An Introduction and Vocabulary”, 9-383-079
2. Selected chapters from the book by A. Kling, “Learning Economics” (to order the book go to:
http://www.amazon.com/exec/obidos/tg/detail//1413460267/qid=1098202653/sr=1-2/ref=sr_1_2/1036803908-8903815?v=glance&s=books )
3. The textbook by: M. Parkin, Economics, 8th. ed., Addison Wesley, N.Y., 2008 (copies are available at the library, first floor)
4. A book that “brings the power of economics to life”
(S. D. Levitt) is: T. Harford, The Undercover Economist,
Oxford University Press, 2006
5. Read (subscribe to) The Economist (by far the best
weekly economics publication on the market!)
Dr. Ingo Böbel; Last Revised: 2/9/2016
This syllabus is subject to change.
IUM Graduate Programs: Course Syllabus
PMBA 604: Introduction to Economic Analysis, September 2008
Class Schedule: PMBA 604: Introduction to Economic Analysis
Summer 2006
Session, Date and Time,
Location
Topic
Recommended
Readings
Session 1
Sept. 2
9.00 – 12.30
Get organized
A brief “History of Economic
Thought” (Classical Economics;
the Marginal Revolution; Traditional Economics; Neoclassical
Economics)
Introduction to the economists’
view of the world (preview of
some of the big ideas that recur
throughout economics);
Micro- vs. Macroeconomics;
What is distinctive about how
economists confront a question?
What does it mean to think like
an economist?
Session 2
Sept. 3
9.00 – 12.30
Foundations of Macroeconomics HARVARD
(Theory of Comparative Ad- BUSINESS
vantage as an example)
SCHOOL
NOTE:
“Economics: An Introduction and Vocabulary”,
9-383079; Ch. 1 and 2 in
Parkin;
Tyler Cowen, “No
Need to Apologize
for
International
Trade”,
NYTimes
June 9, 2008, p. 14
Foundations of Microeconomic HARVARD
Analysis: The Fundamentals of BUSINESS
SCHOOL
NOTE:
Demand and Supply
“Economics: An Introduction and Vocabulary”,
9-383079; ch. 4 in Parkin;
Harford book
Session 3
Sept. 4
9.00-12.30
Dr. Ingo Böbel; Last Revised: 2/9/2016
This syllabus is subject to change.
Read the following
chapters in A. Kling,
Learning Economics
Introduction;
What’s
Different
About Economics?;
Sweetwater vs. Saltwater
IUM Graduate Programs: Course Syllabus
PMBA 604: Introduction to Economic Analysis, September 2008
Session 4
Sept. 5
9.00-12.30
HARVARD
Competitive Markets
How do firms compete in com- BUSINESS
SCHOOL
NOTE:
petitive markets?
“Economics: An Introduction and Vocabulary”,
9-383079; the relevant ch.
in Parkin (check Index); Harford book
Session 5
Sept. 8
9.00-12.30
The Problem of Market Power
HARVARD
BUSINESS
SCHOOL
NOTE:
“Economics: An Introduction and Vocabulary”,
9-383079; “Slackers or
pace-setters?”, The
Economist, May 20th,
2004; relevant ch. in
Parkin (check Index)
Session 6
Sept. 9
9.00-12.30
Competition in a globalised
world
Discussion of microeconomic
foundations of global competitiveness – Professor Michael
Porter’s ideas on the competitiveness of nations, regions, and
firms
Read: Harford book;
B. Snowdon and G.
Stonehouse, Competitiveness in a Globalised World, Journal
of
International
Business
Studies
(2006) 37, 163-175
Note: The instructor reserves the right to modify this outline and class schedule.
June 28, 2008
Dr. Ingo Böbel; Last Revised: 2/9/2016
This syllabus is subject to change.