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:
21 hours
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.
(Aug. 30 – Sept. 7, 2010)
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
Professor Dr. Ingo Böbel
PMBA 604: Introduction to Economic Analysis, August/September 2010
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
This syllabus is subject to change.
IUM Graduate Programs: Course Syllabus
Professor Dr. Ingo Böbel
PMBA 604: Introduction to Economic Analysis, August/September 2010
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
This syllabus is subject to change.
IUM Graduate Programs: Course Syllabus
Professor Dr. Ingo Böbel
PMBA 604: Introduction to Economic Analysis, August/September 2010
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.
This syllabus is subject to change.
IUM Graduate Programs: Course Syllabus
Professor Dr. Ingo Böbel
PMBA 604: Introduction to Economic Analysis, August/September 2010
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. The assessment
will be made according to the following “star based” evaluation scheme:
1 star
2 stars
3 stars
4 stars
Work that barely meets modest expectations for the class
Fairly good work showing understanding of several important concepts.
Good work showing understanding and mastery of most concepts.
Outstanding performance, works shows superior command of the subject.
The assessment takes into account the student’s general conduct (punctuality, attendance), class participation (added value), and preparedness (reading assignments, homework).
If requested, a Certificate of Completion will be awarded to
students who successfully complete the Pre-MBA Session.
Course Material
I recommend to buy the textbook by M. Parkin, Economics,
9th. ed., Addison Wesley, N.Y., 2010.
In addition, consult the following material as it will be helpful for a better understanding of the course content:
1. HARVARD BUSINESS SCHOOL NOTE: “Economics:
An Introduction and Vocabulary”, 9-383-079
2. HARVARD BUSINESS SCHOOL-Background Note: “A
Note on Microeconomics for Strategists”, 9-799-128
3. HARVARD BUSISNESS SCHOOL: “The Economic
Gains from Trade: Comparative Advantage”, 9-796-183
4. T. Harford, The Undercover Economist, Oxford University Press, 2006 (available at the library) [the book “brings
the power of economics to life” (S. D. Levitt)]
5. Robert L. Heilbroner, The Worldly Philosophers, NY: Simon & Schuster 1998 (I recommend to buy this book)
6. “Slackers or pace-setters?” The Economist, May 20th,
2004
Economics focus Slackers or pace-setters Economist_com.htm
7.
Recommendation: Subscribe to The Economist
www.economist.com (by far the best weekly economics
publication on the market!)
This syllabus is subject to change.
IUM Graduate Programs: Course Syllabus
Professor Dr. Ingo Böbel
PMBA 604: Introduction to Economic Analysis, August/September 2010
Class Schedule: PMBA 604: Introduction to Economic Analysis
Aug./Sept. 2010
Session, Date and Time
Session 1
Aug. 30
9.00 – 12.00
Session 2
Aug. 31
9.00 – 12.00
Session 3
Sept. 1
14.00-17.00
Topic
Get organized/Some useful hints
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?
Recommended
Readings
Heilbroner book
HARVARD
BUSINESS
SCHOOL
NOTE:
“Economics: An Introduction and Vocabulary”;
Harford-book
Foundations of Macroeconomics HARVARD
(Theory of Comparative Ad- BUSINESS
vantage as an example)
SCHOOL “The Economic Gains from
Trade”;
Ch. 1 and 2 in Parkin;
Foundations of Microeconomic HARVARD
Analysis: The Fundamentals of BUSINESS
SCHOOL
NOTE:
Demand and Supply
“Economics: An Introduction and Vocabulary”,
9-383079;
HBS: “A Note on
Microeconomics for
Strategists”
ch. 4 in Parkin; Harford book
Session 4
Sept. 2
14.00-17.00
HARVARD
Competitive Markets
How do firms compete in com- BUSINESS
SCHOOL: “A Note
petitive markets?
on Microeconomics
for Strategists”;
relevant ch. in Parkin
(check Index);
Harford book
This syllabus is subject to change.
IUM Graduate Programs: Course Syllabus
Professor Dr. Ingo Böbel
PMBA 604: Introduction to Economic Analysis, August/September 2010
Session 5
Sept. 3
14.00-17.00
The Problem of Market Power
HARVARD
BUSINESS
SCHOOL: “A Note
on Microeconomics
for Strategists”
“Slackers or pacesetters?”, The Economist, May 20th,
2004;
relevant ch. in Parkin
(check Index)
Session 6
Sept. 6
14.00-17.00
Macroeconomic
Foundations: Read: ch. 20 in ParOrigins and Issues of Macroeco- kin;
nomics
Harford book
Session 7
Sept. 7
14.00-17.00
Macroeconomics in Historical
Perspective
The nature of economic growth
through time; Economic Growth
in a long-term contextWhy is it that modern Western
people are incomparably richer
than his/her ancestors 1000 years
ago? Why have economic advances been so slow over such a
long time? The break-down of
the "iron law" of history. What
had happened? Why did it happen at that particular time and
place? The “critical mass” theory
to explain the take-off process.
Examples of technological advancements.
Read: relevant ch. in
Parkin (check Index);
Note: The instructor reserves the right to modify this outline and class schedule.
Revision date: 07/2010
This syllabus is subject to change.