ASIA PACIFIC COLLEGE
School of Accountancy and Business
Graduate Program
Master in Management
with specialization in Business Analytics
COURSE SYLLABUS
Code
Mmmecon
Title
Managerial Economics
Credit Units
3.0
Description
Managerial Economics is that part of economic theory which focuses on business enterprises and
inquires into the factors contributing to the diversity of organizational structures and to the
relationships of firms with labor, capital, and product markets. This course is concerned with
economic issues and problems related to business organization, management, and strategy such
as the explanation of why firms emerge and exist, why they expand, the role of entrepreneurs and
entrepreneurship, the significance of organizational structure, and the relationship of firms with
the employees, the providers of capital, the customers, the government, and the industry.
Objective
At the end of the course, the student must have recognized the application of economic concepts
and economic analysis to the problems of formulating rational managerial decision by utilizing
business economics and microeconomic analysis to decision methods of businesses or other
management units. In bridging economic theory and economics in practice, it draws heavily from
quantitative techniques such as regression analysis, correlation, and sometimes, calculus. If there
is a unifying theme that runs through most of managerial economics, it is the attempt to optimize
business decisions given the firm's objectives and given constraints imposed by scarcity through
the use of operations research, mathematical programming, game theory for strategic
decisions, and other computational methods.
Page 1 of 4
OUTLINE
Session
1
Chapter (Topic/s)
PART I: INTRODUCTION.
1. Ten Principles of Economics.
Activities/Assignments
Problem 1-6 Social Security
2. Thinking Like an Economist.
3. Interdependence and the Gains from Trade.
PART II: HOW MARKETS WORK.
4. The Market Forces of Supply and Demand.
Problem 2-2 Guns and Butter
Problem 3-6 Baseballia
Problem 4-13 Basketball
Tickets
4
5. Elasticity and Its Application.
6. Supply, Demand, and Government Policies.
5
PART III: MARKETS AND WELFARE.
7. Consumers, Producers, and the Efficiency of
Markets.
Problem 5-2 New York to
Boston
Problem 6-3 Frisbees
Problem 7-12 Health
Insurance
6
8. Applications: The Costs of Taxation.
9. Application: International Trade.
7
PART IV: THE ECONOMICS OF THE PUBLIC
SECTOR.
10. Externalities.
11. Public Goods and Common Resources.
12. The Design of the Tax System.
PART V: FIRM BEHAVIOR AND THE
ORGANIZATION OF INDUSTRY.
13. The Costs of Production.
2
3
8
9
Problem 8-10 Smalltown
Hotel
Problem 9-11 Kawmin
Problem 10-7 Zlurp
Problem 11-8 Wiknam
Problem 12-10 Income Tax
Problem 13-12 Jane’s Juice
Bar
10
14. Firms in Competitive Markets.
15. Monopoly.
Problem 14-11 Ectenia
Problem 15-5 Ectenia
11
16. Monopolistic Competition.
17. Oligopoly.
PART VI: THE ECONOMICS OF THE LABOR
MARKET.
18. The Markets for the Factors of Production.
Problem 16-8 N Firms
Problem 17-10 Little Kona
Problem 18-6 Ectenia
13
19. Earnings and Discrimination.
20. Income Inequality and Poverty.
14
PART VII: TOPICS FOR FURTHER STUDY.
21. The Theory of Consumer Choice.
22. Frontiers in Microeconomics.
Problem 19-7 Allan
Greenspan
Problem 20-7 Medicaid
Problem 21-8 Cup O’ Soup
Problem 22-10 DVD
12
Page 2 of 4
REFERENCES
Title
Principles of Economics, 6th Edition
Author/s
N. Gregory Mankiw
Managerial Economics, 7/E
Paul Keat,
Philip K Young,
Steve Erfle
Jeffrey M. Perloff,
James A. Brander
Sytse Douma,
Hein Schreuder
Robert Pindyck
Daniel Rubinfeld
Managerial Economics and Strategy
Economic Approaches to Organisations, 5/E
Microeconomics, 8/E
Year
Cengage
Learning
2012
Prentice Hall
2014
Prentice Hall
2014
Prentice Hall
2013
Prentice Hall
2013
INSTRUCTIONAL TOOLS
System
Microsoft
Excel
Edu2.0
Function
Data Analysis ToolPak for complex
statistical or engineering analyses
Free cloud-hosted LMS+ with
nothing to download or install
Cengage
Learning
Companion Website
URL
http://office.microsoft.com/en-us/excelhelp/about-statistical-analysis-tools.aspx
http://apc.edu20.org/
Registration code for students:
apcstudent
http://www.cengage.com/students/
ASSESSMENT
Factor
Case Analyses
 Accuracy of solutions
Exercises and Exams
 Group or Individual Activities
Project Presentation
 Delivery and teamwork
Recitation and Participation
 Discussion and attendance
Total
Weight
40%
30%
10%
20%
100%
Page 3 of 4
GRADING SYSTEM
Grade Point
4.0
3.5
3.0
2.5
2.0
1.5
1.0
R
0.0
Description
Excellent
Superior
Very Good
Good
Satisfactory
Fair
Pass
Repeat
Fail
Letter Rating
A
B+
B
BC+
C
D
F
Page 4 of 4
Percentage Grade
97-100
93-96
89-92
85-88
80-84
75-79
70-74
<70