ARCC Submission
Department of Political Science, Philosophy and Economics
Prepared by N. Brown for the January 24th, 2013 ARCC Meeting
MOTION #1:
That ARCC recommend to the Arts & Science Executive the addition of ECON 3056 Economic
and Managerial Decision Making (described in pages 2-7) to the course offerings in Economics.
MOTION #2:
That ARCC recommend to the Arts & Science Executive the following changes to the Major in
Economics (as described on page 8)
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Course Addition ECON 3056: Economic and Management Decision Making
A) General Rationale:
The School of Business has submitted a parallel request to add ADMN 3056 Economic and
Management Decision Making to their course offerings and list of required core subjects. This
course will amalgamate ADMN 2167 Business Decision Making and ECON 2106 Managerial
Economics into one, three-credit course. The new course will combine the content from ADMN
2167 and ECON 2106 that is viewed as critical for the general business student and will aim to
address business students’ need to develop critical thinking and analysis skills using quantitative
and qualitative assessments. The course will combine theoretical discussions and case study
methodology. There is an agreement between the Department of Political Science, Philosophy
and Economics and the School of Business to cross-code this course as well as share in the
responsibility of administering this course. Please see the attached letter from the Director of the
School of Business.
B) Descriptive Data
Course code:
Course title:
Short title:
(maximum 29
characters)
If this course
belongs to a major
that has course
groupings, please
indicate which
group the course
belongs with:
Course
Prerequisites:
Course Corequisites:
Antirequisite:
Total Hours:
ECON 3056
Economic and Management Decision Making
Management Decision Making
Bachelor of Arts Major Economics
Bachelor of Arts Minor Economics
Bachelor of Business Administration
ACCT 1107, ECON 1006 and ECON 1127
None
ECON 2106, ADMN 2167, ADMN 3056
36/0/0
(Lecture / Lab / Seminar)
Breakdown of
Hours
Three hours of lecture per week
(e.g. Two hours of lecture and
one hour of laboratory work per
2
week for one term.)
Course Credits:
Course Description:
(as it will appear in
the academic
calendar)
Program
Implications:
Cross-listing or
cross-coding
3 credits
This course examines the central decisions faced by managers and
focuses on the financial and economic analysis required to guide those
decision using qualitative and quantitative assessment techniques.
Topics include evaluation of market competition, demand analysis and
optimal pricing strategies, input procurement and inventory
management, compensation systems, internal and external incentives
faced by managers, short-term versus long-term decision-making,
sustainability, game theory, uncertainty and risk analysis, and
forecasting. This course includes the use of case studies.
This course will be added to the list of courses Economics Majors or
Minors may take towards the completion of their programs.
This course is cross-coded with ADMN 3056 Economic and Business
Decision Making course of the School of Business. Please see the
attached letter from the Director of the School of Business.
(please indicate if this
course is approved for
either cross-listing or
cross-coding, and to
which discipline)
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C) Comparative Data
University
Brock
Equivalent
Course(s) and
Titles
Non-Equivalent but 50% or more overlap
Business Case Analysis and Action
Business case analysis in major functional
areas of business, with recommended
implementable and defensible strategies:
rebuttal of strategies proposed by others;
debates concerned with a number of
business-related topics.
ECON 2P23 Managerial Economics
Application of microeconomic concepts to
business decision making. Topics include sales
taxes and subsidies, consumer theory,
production theory and various market structures
such as discriminating monopoly, oligopoly and
dominant firms.
Lectures, tutorial, 4 hours per week.
Carleton
Guelph
Lakehead
Laurentian
ECON 2310 Intermediate Microeconomics
This course is an analysis of the behaviour of
households and firms under alternative
assumptions and market conditions.
Business 2017 Managerial Economics
Intermediate microeconomic theory with special
emphasis on managerial applications. Topics
include: demand theory and measurement,
production and cost theory and measurement,
market structure and pricing behaviour, pricing
practices, regulation and antitrust law.
COMM-3001EL - Business Basics for
Professionals
Designed for non-Commerce students. Deals with
basic business principles and management
practices. Topics such as vision, business plan,
financial reports, market research and competitive
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Ryerson
Toronto
advantage, choice of location, financing,
networking, human resources management and
communications are treated ...
GMS 402 Introduction to Managerial
Economics
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 theory and estimation,
production and cost theory, market structure and
pricing practices.
RSM455H1 Pricing
Approaches pricing decision as an intersection of
economics and psychology. Using product
categories as diverse as financial services,
healthcare, industrial products and consumer
packaged goods, students study dynamic pricing,
value pricing, price customization, price bundling
and multi-part tariffs, menu costs and price
stickiness, sales promotions, and pricing in twosided markets.
RSM465H1 Managing People Through
Incentives
This course is designed to introduce you to the
fundamental principles of incentives and
motivation, which are essential tools for
managers. The course takes an interdisciplinary
approach and you will be exposed to theories on
these topics from a variety of different disciplines
– behavioral decision-making, economics,
organizational behavior, and psychology.
Enrolment is restricted to 3rd and 4th year
Rotman Commerce students.
ECO380H1 Managerial Economics I:
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Trent
Waterloo
Western
Competitive Strategy
This course in applied microeconomics is
concerned with the functioning of markets and the
behaviour of firms within these markets. The
focus is on strategic relationships between
organizations, including competitive relationships
among firms in the same market and cooperative
relationships between a firm and its suppliers and
distributors.
ECON 2000H Intermediate Microeconomic
Theory
An examination of problems of demand and
supply, market equilibrium and market structure.
A comprehensive treatment of the theoretical
techniques used to deal with problems of resource
allocation and applications of those techniques.
Develops skills necessary for advanced work in
economics.
ECON 201 Microeconomic Theory 1
Theory of consumer choice; the economics of
production; price and output under perfect and
imperfect competition.
Business Administration 3316K - Decision
Making with Analytics
Managerial decision makers must cope with
complexity and/or uncertainty. This course
presents a systematic approach to structuring and
analyzing decision problems including the use of
statistical tools and spreadsheet programs. To
stress the generality of this approach, problems
from all functional areas and various industries
are discussed. The course also examines a number
of innovative management tools that are changing
the practice of management.
D) Statement of Need
This course will add a much needed upper-year course to Economics offerings. As Economics
hopes to expand its offerings to include a Honours Major and an Honours Major with
Specialization, additional upper-year courses are needed.
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E) Statement of Resources
This course is being cross-coded with the School of Business course ADMN 3056 and the
responsibility of resourcing this course will be shared with the School of Business. Please see the
letter from the Director of the School of Business with regards to the administration of the
course. Existing faculty members in the two departments will develop and deliver this course for
online and on-campus delivery. Additional resources are not required.
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Change to Major in Economics
Motion #2.1:
That ECON 2006 Intermediate Microeconomics be added to the list of required courses for the
completion of the Major in Economics.
Motion #2.2:
That ECON 2106 Managerial Economics be removed from the list of required courses for the
completion of the Major in Economics.
Rationale:
The existing course ECON 2006 Intermediate Microeconomics is more appropriate for Arts and
Science students doing a Major in Economics than ECON 2106 Managerial Economics or
ECON 3056 Economic and Management Decision Making which are geared towards business
students. In addition, with ECON 2106 being replaced in the BBA core, there will be a
diminished demand for this course. This change would allow for a better use of existing
resources in the Department of Political Science, Philosophy and Economics.
Program Requirements

Students must complete ECON 1006 and ECON 1007 with a minimum grade of 60% in
each.
Students must complete 36 credits in the Major as follows:
Course code and Title
Credit Amount
ECON 1006 Introduction to Microeconomics
3 cr.
ECON 1007 Introduction to Macroeconomics
3 cr.
ECON 1127 Introduction to Mathematics for Economists
3 cr.
ECON 2006 Intermediate Microeconomic Theory
3 cr.
ECON 2016 Intermediate Macroeconomic Theory
3 cr.
ECON 2126 Elementary Statistical Methods for Economists
3 cr.
ECON Upper level
18 cr.
Humanities
Science
6 cr.
6 cr.
** Please note that all Major subjects that offer 4000 level courses will have the following
note included in the academic calendar:
NOTE: Students may complete an Honours BA/BSc double major if they obtain an overall
average of 70% in each Major, and complete an additional three credits (minimum) at the 4000
level in each Major. Please refer to Academic Calendar for the complete degree requirements for
an Honours double major.
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