course syllabus
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m o d e l
instructor version
evening classes
Managerial Economics
MBA 611
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Cover
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course
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learning
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Benedictine Hallmarks 2011-2012
STABILITY  STEWARDSHIP
IDEA
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course syllabus
Addresses the educational
needs of adult students by
developing and providing
engaging, relevant and
accelerated programs.
blended model
MBA 611
Enhances scholarship,
leadership skills, social
responsibility, and promotes
life-long learning.
Provides high-quality, easily
accessible educational
opportunities for adult
learners.
Enables adults to earn
specific undergraduate and
graduate degrees while
maintaining their personal and
professional commitments.
Managerial Economics
instructor version
Develops new degree and
non-degree programs that
address the expressed needs of
the professional community.
content links index
about this document
about Moser College
about blended learning
hallmarks of a Benedictine education
student expectations
attendance policy
financial aid
submission of work
library resources
services for students with disabilities
Academic Honesty Policy
APA formatting and style
netiquette
course overview
required textbooks
grading scale
IDEA objectives
IDEA description
learning outcomes
course schedule
Moser College Mission
Statement: Moser College
embodies the values of respect,
excellence, collaboration, and
professionalism. We are
committed to delivering
innovative and dynamic
programs designed for adult
students who are dedicated to
enhancing their professional,
local, and global communities.
Moser College Vision
Statement: To be one of the
premier university colleges in
the nation.
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience
Discipline  Humility  Stewardship  Hospitality  Community
Benedictine
University
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about
expectations
Margaret and Harold Moser Center
1832 Centre Point Circle
Naperville, IL 60563
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course
overview
learning
outcomes
Phone: (630)schedule
829-6289&
IDEA
sessions
Fax: (630) 829-1375
moser college mission and vision
2
Content Links
Managerial Economics | MBA 611
About Your Program at Benedictine University – Moser College
About This Document
This is a hypermedia document – it has been built to mimic navigation on the
web. This document can also be viewed as a presentation or it can be printed
like a traditional document. We use this sort of document because it allows for
navigation links (hyperlinks) to text, graphics, audio/video, and the web. This
type of document also allows you to navigate in a nontraditional, nonlinear way
– by following the page links you are not bound to read or flip through the
document in any sort of order. This is yet another example of Moser College’s
commitment to advancements in technology and blended learning.
About Moser College
The Moser College of Adult & Professional Studies delivers its curricular
programs in a specifically designed structure deliberately oriented for working,
adult learners. The Moser College is committed to providing a learning
environment which extends beyond the classroom and is designed specifically
to meet the needs of its students and their employers by bringing a quality
educational experience without requiring the student to relocate or travel
extensively beyond their home area. Benedictine University's Moser College of
Adult & Professional Studies is fully accredited by the Higher Learning
Commission of the North Central Association of Colleges and Schools*.
* web path
Benedictine Univ
Academic Programs
Moser College
About Blended Learning
Blended learning is the integration of different learning environments: mainly the
online format with the face-to-face format, but may also include mobile learning.
Blended learning, also referred to as hybrid learning, relies on both the advantages
of digital/technology innovation and the methods of face-to-face instruction. At
Moser College, we use blended learning by combining asynchronous online
classroom sessions with a face-to-face classroom environment. We alternate
between the online session and the face-to-face session in 5-week courses, with
the A session being face-to-face and the B session being online.
hallmarks of a Benedictine Education:
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3
About
Managerial Economics | MBA 611
The Ten Hallmarks of a Benedictine Education
A Benedictine Education
Based on the Rules of Saint Benedict, a Benedictine
Education is based on the Benedictine Wisdom
Tradition that sets as its goals the transformation of the
Human mind AND Heart and has at its foundation “The
Ten Hallmarks of a Benedictine Education”.
The Ten Hallmarks
Each academic year Moser College will be celebrating
two of the Hallmarks. This academic year 2011-2012,
the Hallmarks Stability and Stewardship have been
chosen. The ten hallmarks are:
1. Love of Christ and Neighbor
2. Prayer: a Life marked by liturgy, lection and
Mindfulness
3. Stability: commitment to the daily life of this place,
its heritage and tradition
4. Conversatio: the way of formation and
transformation
5. Obedience: a commitment to listening and
consequent action
6. Discipline: a way toward learning and freedom
7. Humility: knowledge of self in relation to God,
others and creation
8. Stewardship: responsible use of creation, culture
and the arts
9. Hospitality: openness to others
10. Community: call to serve the common good
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Portrait (1926) by Herman Nieg
(1849–1928); Heiligenkreuz Abbey, Austria
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
4
Hallmarks
Managerial Economics | MBA 611
Student Expectations
Expectations of Students
In order to get the maximum use of the time available, it is expected that you
will:
•
Read the material to be covered in the class and complete required
assignments prior to attending the class/session;
•
Arrive/login to class/session prepared to participate actively;
•
Be prepared to actively participate in the collaborative activities of each
class/session; and
•
Always feel free to seek additional help from the instructor when the need
arises.
Attendance Policy
Students may not miss more than 25% of the live classroom sessions. Doing so
will result in an F for the course.
financial aid information
Submission of Work
All assignments are to be submitted into Desire 2 Learn (D2L) unless otherwise noted by instructor.
Assignments must be submitted by due date. Any assigned work submitted late for any unexcused
reason will receive a lowered grade. Please refer to your instructor’s late work policy located in D2L.
In the event that you miss an examination for due cause, arrangements must be made with the
instructor for a make-up examination. Important criteria concerning the submission of work:
•
Make-up examinations may differ from the original class examination.
•
Per University policy, assignments cannot be accepted by an instructor after the last day of the course.
•
Only discussions threads posted by 11:59 pm CST on the due date will count for grading purposes.
information concerning netiquette:
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IDEA
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
5
Expectations
Managerial Economics | MBA 611
Financial Aid Information
Applying for Financial Aid
A college education is one of the largest financial investments a family will make. We believe that an education
from Benedictine University will provide valuable returns throughout a student's lifetime. The Office of Financial
Aid is dedicated to helping students and their families make a Benedictine University education affordable. We
view the process of financing an education as a partnership. Although the student and his/her family have primary
responsibility for meeting college costs, Benedictine University, as well as the federal and state governments have
a variety of financial aid programs available to students who need financial assistance.
Types of Financial Aid
Benedictine University's Office of Financial Aid administers a variety of federal, state
and institutional programs of student financial assistance. All financial aid recipients
must maintain satisfactory academic progress in accordance with the published,
"Satisfactory Academic Progress Policy for Financial Aid Recipients.“
•
After completing the financial aid application process, the student will receive a
financial aid award notification letter. The award letter will include the
program(s) that the student is eligible to receive and the award amount(s).
•
Grants/Scholarships - Grants and scholarships are considered to be gift
assistance. This means the awards do not have to be repaid.
•
Loans - Loans are considered to be a form of self-help assistance. Loan programs
provide funds for educational purposes and are paid back with interest.
•
Employment - Part-time jobs on campus are available to students through the
University and Federal Work-Study program. Students working on campus
receive a bi-weekly paycheck.
•
Applying for Financial Aid – All students applying for financial aid are asked to
complete the Free Application for Federal Student Aid (FAFSA).
FAFSA – Free Application for Federal Student Aid
The FAFSA is required for all federal, state (Illinois residents) and Benedictine University need-based assistance.
It should be completed as soon as possible after January 1st. Applying online with FAFSA on the Web at
www.fafsa.gov is faster and easier than using a paper FAFSA. Have your completed U.S. Federal Income Tax
returns readily available when completing the FAFSA. Include Benedictine University's school code:
001767 so the results of your FAFSA application will automatically be sent to our financial aid office. Sign you
FAFSA with a Federal Student Aid PIN. Apply for a PIN at www.pin.ed.gov. If you are providing parent
information, one parent must also sign you FAFSA.
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course
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learning
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IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
6
Financial Aid
Managerial Economics | MBA 611
About Netiquette
What is Netiquette?
"Netiquette" stands for "Internet Etiquette", and refers to the set of practices which help to make the online
experiences pleasant for all involved. As you might expect, netiquette, like other forms of etiquette, is about
courtesy, manners, codes of behavior, protocols and respect. Netiquette primarily focuses on how we interact with
one another online, by being aware of: our use of language, others’ cultural background, conventional norms, and
other behaviors. Below you will find guidelines concerning the basics of online interaction. If it isn’t something you
would say or do in the face-to-face classroom, it is probably inappropriate in the online class as well.
Netiquette Basics
1. Follow the Golden Rule (“One should treat others as one would like others to treat oneself”)
2. Be ethical, fair, tolerant and mindful of others – avoid stereotyping, judgment and prejudice
3. Know the boundaries of particular cyberspaces – what is acceptable in a text or chatroom with friends may
not be appropriate in a classroom or in an online conversation with an instructor
4. Respect the time of others by: 1) using descriptive subject lines, 2) resizing images for the web, 3) providing
links instead of copying and pasting content, 5) using white space by inserting blank lines between paragraphs
and headers and 6) limiting your use of attachments
5. Copy the minimum number of people – it is tempting to send “email” or “message blasts” because it is easier
for the poster, but it is not easier for the reader
Inappropriate Online Usage
1. Avoid “flaming” – flaming is sending offensive, insulting or criticizing messages. This happens more often
online then in face-to-face interaction, because there is an illusion of anonymity.
2. Flaming is neither productive nor appropriate for the learning environment
3. Always avoid flaming when it comes to content and opinions, but also avoid it when it comes to grammar,
punctuation and spelling corrections
4. Avoid using CAPS if possible and never type messages in ALL CAPS – this is considered yelling and is often
seen as a form of aggression
5. Use emoticons ( :) , :( , :-) ) sparingly and avoid the use of JK, BRB, LOL and other text language
Confidentiality and Privacy
1.
2.
3.
4.
Email, messaging and posting are forms of written record and are just as permanent as a letter or document
Do not publicize your own or others’ personal information (such as email, phone numbers, last names etc.)
Respect copyright and cite any and all sources
Do not expect that your communications are private, instead assume all communications are public
For more information please review Netiquette by Virginia Shea
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
7
Netiquette
Managerial Economics | MBA 611
Resources for Success
Benedictine’s Library Resources
Benedictine University Libraries strive to provide the resources for all of your academic and research
needs. Providing access to over 120 databases, 200,000 books and eBooks, and helpful librarians 7
days a week, we are here to assist you in person and online.
The primary mission of the Benedictine University Library is to provide library resources and services
that support the Benedictine University community and meet its academic and research needs. To
support our mission, the Library has made provisions for all students to gain access to important
academic resources through the Benedictine Library Website. As you begin your academic journey
please take note of these key concepts that will affect that access:
•
Entry into academic databases and most Library resources must be made through the Benedictine
Library Website at www.ben.edu/library
•
Within one week of your official enrollment your patron information will be automatically entered
into the library system, where once entered, you will be able to check out books and access
databases
•
When off-campus you will be prompted by authentication software (a proxy server) to provide
your Library ID number and last name to access article databases and request books. This software
proxy server confirms that you are a current Benedictine University student and thus allowed
access
•
Your Library ID number is a combination of the Benedictine Library prefix 2281100 and your
seven-digit student ID number (also called your “b” number). Thus 2281100XXXXXXX is
the Library ID number with X’s being the seven digit student number. This number is prominently
located just below the barcode on your Benedictine ID card
•
For further information on any aspect of Library resources and access please call or write the
Benedictine Library Reference Desk at 630-829-6057 or libref@ben.edu. Please take note of
Library hours and staff directory located on the Library Website under About the Library and feel
free to contact us about any concern or need you might have
additional resources for student success:
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
8
Library
Managerial Economics | MBA 611
Resources for Success
University Academic Honesty Policy
The search for truth and the dissemination of knowledge are the central missions of a university.
Benedictine University pursues these missions in an environment guided by our Roman Catholic
tradition and our Benedictine Heritage. Integrity and honesty are therefore expected of all University
students. Actions such as cheating, plagiarism, collusion, fabrication, forgery, falsification,
destruction, multiple submission, solicitation, and misrepresentation are violations of these
expectations and constitute unacceptable behavior in the University community.
To access the complete Academic Honesty Policy, which includes student responsibility, responsibility
and authority of faculty, violations, reporting and communicating, responsibilities of the provost,
appeals, composition of the academic appeals board, procedures of the academic appeals board, and
records, please select the following link: www.ben.edu/ahp
APA Formatting and Style
All course assignments must use APA citation and formatting. This is a
mandatory requirement for all assignments, including discussions, if a
publication or other work is being referenced. For more information on
APA, please see the APA Style section at the website of the American
Psychological Association, linked here: www.apa.org/
APA resources for students: www.apa.org/about/students.aspx
Services for Students with Disabilities
Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act (ADA) of 1990
prohibit discrimination against individuals with disabilities by standing provision of reasonable
accommodations to make programs and activities accessible to qualified individuals with disabilities.
If you have a documented learning, psychological, or physical disability, you may be eligible for
reasonable academic accommodations or services. To request accommodations or services, please
contact the Student Success Center, Krasa Center - 012A, 630-829-6340. All students are expected to
fulfill essential course requirements. The University will not waive any essential skill or requirement
of a course or degree program.
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9
Other Resources
Managerial Economics | MBA 611
Individual Development and Educational Assessment
IDEA Objectives
•
Acquiring skills in working with others as a member of a team.
•
Developing creative capacities (writing, inventing, designing,
performing in art, music, drama, etc.)
•
Gaining a broader understanding and appreciation of intellectual/
cultural activity (music, science, literature, etc.)
•
Developing skill in expressing oneself orally or in writing.
•
Learning how to find and use resources for answering questions or
solving problems.
•
Developing a clearer understanding of, and commitment to, personal
values.
•
Learning to analyze and critically evaluate ideas, arguments, and
points of view.
•
Acquiring an interest in learning more by asking questions and
seeking answers.
IDEA Description
The IDEA student survey focuses on the instructor’s learning objectives for the course and on the
progress each student made toward achieving those objectives. By answering thoughtfully and
honestly, your ratings and comments will be much more helpful – to the instructor, the department
chair, and the dean of the college. As students, you should also know that student ratings and
comments have been used to help evaluate courses and to improve the educational experience at
Benedictine University. The appropriate standard of conduct with respect to student surveys is
thoughtful comments and constructive criticism – respectfully communicated.
A Focus on Learning
“The IDEA Student Ratings system looks at instruction in terms of its endgame. Rather than
emphasizing teaching style or personality, the IDEA system focuses on student learning and the
methods used to facilitate it.” – from the IDEA website: www.theideacenter.org/node/5
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
10
IDEA
Managerial Economics | MBA 611
Faculty Evening Course Overview
Course Description
Applies microeconomic tools to business decision making. Topics include optimization, consumer
behavior, elasticity of demand, the use of regression analysis to estimate demand (revenues) and
costs, marginal analysis and market structure.
Course Materials
Required Textbook and Materials
Thomas, Christopher R. & Maurice, S. Charles (2013).
Managerial Economics – Foundations of Business Analysis and Strategy (11th ed.). New York, NY:
McGraw-Hill/Irwin. ISBN 9780078021718
Suggested Course Materials
Wall Street Journal, cnbc.com, marketwatch.com
Technological Computer Requirements
Students in the Blended program will need: High-speed Internet access; a sound card and speakers;
Windows XP (minimum)/Windows 7 (recommended) or Mac OS X 10.5 or higher; and Firefox 3.6 or
higher. It is also highly recommended that students have access to a microphone or webcam for
optional audio/videoconferencing.
Discussion Forum Guidelines
The Course Grading Scale
A
=
4.00
90 - 100%
EXCELLENT
B
=
3.00
80 – 89%
GOOD
C
=
2.00
70 – 79%
SATISFACTORY
D
=
1.00
60 – 69%
PASS
F
=
0.00
BELOW 60%
FAIL
I
=
INC
INCOMPLETE
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To receive a minimum passing grade, students must
make a post to each discussion question for that
week by day 4 of each week and respond to at least
two other postings by the end of the week. Individual
Posts are worth up to 5 points and the total
Response Posts are worth up to 5 points total. Each
discussion will total up to 10 points.
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
11
Course Overview
Managerial Economics | MBA 611
Faculty Evening Course Outcomes Based in Bloom’s Taxonomy
Wk
Bloom’s
Level
Learning Objective
Benedictine Hallmark
and/or IDEA Objective
Assignment
1A
4 – Analyzing
Distinguish between
economic profit and
accounting profit.
IDEA #2 Objective: Analyze.
In class activity
4 - Analyzing
Explain & Illustrate PBL
IDEA Objective: Analyze
PBL Step 1
3- Applying
Elaborate on the concept of
present value and explain its
affects.
IDEA #3 Objective: Cognitive.
Individual chapter problems. Due
in Dropbox before class 2A.
10
5 - Evaluating
Design supply, demand and
market equilibrium curves
IDEA #11 Objective: Cognitive.
Team chapter problems. Due in
Dropbox before class 2A
10
4 - Analyzing
Construct price floor and
price ceiling examples.
IDEA Objective: Cognitive.
Hallmark #2. Prayer: Living a life
marked by liturgy and mindfulness.
Discussion post and two response
posts on D2L.
10
4 – Analyzing
Build linear regression
models.
IDEA #2 Objective: Analyze.
In class activity
4 - Analyzing
Explain & Illustrate PBL
IDEA Objective: Analyze
PBL Step 2
2Understanding
Discuss, evaluate and
summarize consumer
behavior.
IDEA #3 Objective: Cognitive.
Individual chapter problems. Due
in Dropbox before class 3A.
10
5 – Evaluating
Compile and predict results
of the substitution and
income effects.
IDEA #11 Objective: Cognitive.
Team chapter problems. Due in
Dropbox before class 3A
10
3 - Applying
Develop and interpret
elasticity.
IDEA #3 Objective: Cognitive.
Discussion post and two response
posts on D2L.
10
4 – Analyzing
Build demand estimation
and forecasting.
IDEA #2 Objective: Analyze.
In class activity
4 - Analyzing
Explain & Illustrate PBL
IDEA Objective: Analyze
PBL Step 3
2Understanding
Assess your knowledge.
IDEA #2 Objective: Cognitive.
In class quiz
25
5 - Evaluating
Predict the outcomes of
price setting.
IDEA #11. Objective: Cognitive.
Individual chapter problems. Due
in Dropbox before class 4A.
10
5 - Evaluating
Predict the outcomes of
price setting.
IDEA #11 Objective: Cognitive.
Team chapter problems. Due in
Dropbox before class 4A
10
4 - Analyzing
Construct production costs n
the short-run and long-run.
IDEA #3 Objective: Cognitive.
Discussion post and two response
posts on D2L.
10
1B
2A
2B
3A
3B
3B
Pts
about Bloom’s Taxonomy
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
12
Learning Outcomes
Managerial Economics | MBA 611
Faculty Evening Course Outcomes Based in Bloom’s Taxonomy
Wk
Bloom’s
Level
Learning Objective
Benedictine Hallmark
and/or IDEA Objective
Assignment
Pts
4A
3 – Applying
Develop production and cost
estimations
IDEA #2 Objective: Analyze.
In class activity.
Explain & Illustrate PBL
IDEA Objective: Analyze
PBL Steps 4 & 5
4 - Analyzing
Create managerial decisions
in a competitive market.
IDEA #3 Objective: Cognitive.
Individual chapter problems. Due
in Dropbox before class 5A.
10
2Understanding
Discuss price making and
price taking firms.
IDEA #2 Objective: Cognitive..
Team chapter problems. Due in
Dropbox before class 5A
10
4 - Analyzing
Choose managerial decisions
for firms with market
power.
IDEA #11 Objective: Cognitive..
Discussion post and two response
posts on D2L.
10
5 – Evaluating
Design strategic decisions in
oligopolistic markets.
IDEA #2 Objective: Analyze.
In class activity
4 - Analyzing
Explain & Illustrate PBL
IDEA Objective: Analyze
PBL Step 6
2–
Understanding
Assess your knowledge
IDEA #2 Objective: Cognitive.
In class quiz
25
5 - Evaluating
Design strategic decisions in
oligopolistic markets.
IDEA #11 Objective: Analyze..
Individual chapter problems. Due
in Dropbox before class 6A.
10
5 - Evaluating
Adapt and elaborate to risk
and uncertainty.
IDEA #11 Objective: Analyze..
Team chapter problems. Due in
Dropbox before class 6A
10
4 - Analyzing
Build advanced pricing
techniques.
IDEA #3 Objective: Cognitive..
Discussion post and two response
posts on D2L.
10
2Understanding
Discuss government
regulation and its affect on
business.
IDEA #2 Objective: Analyze.
In class activity.
5 - Evaluating
Integrate economic concepts
into a real life business
problem.
IDEA #11 Objective: Analyze.
Final group project.
70
2Understanding
Discuss government
regulation and its affect on
business.
IDEA #2 Objective: Cognitive.
Individual chapter problems. Due
in Dropbox by end of course
10
5 - Evaluating
Compile the affects of
market regulation on firms
and consumers.
IDEA #11 Objective: Cognitive.
Team chapter problems. Due in
Dropbox by end of course
10
3 - Applying
Choose when government
should intervene in the
market.
IDEA #3 Objective: Cognitive.
Discussion post and two response
posts on D2L.
10
4 - Analyzing
4B
5A
5B
6A
6B
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
13
Learning Outcomes
Managerial Economics | MBA 611
Faculty Evening Course Outcomes Based in Bloom’s Taxonomy
Total Points for the Course
Discussion Questions
10 points each x 6
= 60 points
20% of the total points
Individual Written Assignments
10 points each x 6
= 60 points
20% of the total points
Team Written Assignments
10 points each x 6
= 60 points
20% of the total points
Quizzes
25 points each x 2
= 50 points
17% of the total points
70 points x 1
= 70 points
23% of the total points
Team Project and Presentation
Total Points for the Course
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resources
course
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= 300 points
learning
outcomes
IDEA
schedule &
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
14
Learning Outcomes
Managerial Economics | MBA 611
Faculty Evening Course Schedule
Session
Loc.
Class Title
Assignments
01 A
F2F
Preliminary
Economics
•
•
•
•
No pre-assignment for session 1A
Discussion of Chapters 1-3.
Introduction to Problem Based Learning (PBL) assignment.
Team Activity: PBL Step 1 – Explore the issues.
01 B
online
Preliminary
Economics
•
•
Reading Assignment: Chapters 1-3.
Written Assignment – Individual: Chapter 1, page 36,
Mathematical Exercises 1-3.
Written Assignment – Team: Chapter 2, page 83, Applied Problems
1-10.
Discussion Topic: Coffee.
•
•
02 A
F2F
Demand Analysis
• Review homework questions.
• Review Chapters 4-6.
• Team Activity: PBL Step 2 – List “What do we know”.
02 B
online
Demand Analysis
•
•
•
•
Reading Assignment: Chapters 4-6.
Written Assignment – Individual:
o Chapter 4, page 149, Technical Problems 1-5.
o Chapter 6, page 232, Applied Problems 1-2.
Written Assignment – Team:
o Chapter 4, page 153, Applied Problems 1-3.
o Chapter 5, page 187, Technical Problems 1-5.
o Chapter 6, page 232, Applied Problems 1-3.
Discussion Topic: Free market, insurers and government.
03 A
F2F
Production and
Cost Analysis
•
•
•
•
Review homework questions.
Review Chapters 7-9.
Quiz 1, covering Chapters 1-6.
Team Activity: PBL Step 3 – Develop and write out the problem
statement.
03 B
online
Production and
Cost Analysis
•
•
Reading Assignment: Chapters 7-9.
Written Assignment – Individual: Chapter 7, page 268, Technical
Problems 1-3.
Written Assignment – Team:
o Chapter 7, page 271, Applied Problems 1-2.
o Chapter 8, page 309, Applied Problems 1-3.
o Chapter 9, page 354, Technical Problems 1-2
Discussion Topic: Mergers and acquisitions.
•
•
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15
Course Schedule
Managerial Economics | MBA 611
Faculty Evening Course Schedule
Session
Loc.
Class Title
Assignments
04 A
F2F
Profit Maximization
•
•
•
Review Quiz 1 and homework questions.
Review Chapters 10-12.
Team Activity:
o PBL Step 4 – List possible solutions.
o PBL Step 5 – List actions to be taken with a timeline.
04 B
online
Profit Maximization
•
•
•
Reading Assignment: Chapters 10-12.
Written Assignment – Individual: Chapter 10, page 382,
Applied Problems 1.
Written Assignment – Team:
o Chapter 11, page 441, Applied Problems 1-3.
o Chapter 12, page 501, Applied Problems 1-5.
Discussion Topic: Pricing behavior.
•
05 A
F2F
Advanced Topics in
Managerial Economics
•
•
•
•
Review homework questions.
Review Chapters 13-15.
Quiz 2, covering Chapters 7-12.
Team Activity: PBL Step 6 – What do we need to know.
05 B
online
Advanced Topics in
Managerial Economics
•
•
•
Reading Assignment: Chapters 13-15.
Written Assignment – Individual: Chapter 13, page 561,
Technical Problems 1-2.
Written Assignment – Team:
o Chapter 13, page 565, Applied Problems 1-5.
o Chapter 14, page 616, Technical Problems 1-2.
Discussion Topic: Risk.
•
06 A
F2F
Government Regulation
and Business
•
•
•
Review Quiz 2 and homework questions.
Review Chapter 16.
Team Activity: PBL Step 7 – Present and defend conclusions.
06 B
online
Government Regulation
and Business
•
•
Reading Assignment: Chapter 16.
Written Assignment – Individual: Chapter 16, page 694,
Technical Problems 1.
Written Assignment – Team: Chapter 16, page 700, Applied
Problems 1.
Discussion Topic: Government intervention.
Team Activity: PBL Step 8 – Debrief your performance.
•
•
•
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16
Course Schedule
Managerial Economics | MBA 611
Faculty Evening Session 1A
Learning Objectives
By the end of the week the learner should be able to:
1. Compare explicit costs and implicit costs.
2. Classify economic profit and accounting profit.
3. Differentiate market structures.
4. Distinguish between the general demand and supply function.
5. Identify market equilibrium.
6. Illustrate price ceilings and price floors.
7. Summarize sunk costs, fixed costs and average costs.
8. Contrast marginal benefit and marginal cost.
9. Utilize constrained maximization.
Activities, Assignments and Assessments
INDIVIDUAL ACTIVITIES
GROUP ACTIVITIES
Multimedia
Team Assignment
Illustrate where students can access current
economic stories that relate to weekly material
covered in class. Wsj.com ,(Wall Street journal),
Investors.com (Investors Business Daily),
cnbc.com, forbes.com
In Class Activity
• Encourage students and review course expectations.
• Facilitate an in-class discussion of concepts from Chapters
1-3:
– Managers, profits and markets.
– Demand, supply and market equilibrium.
– Marginal analysis for optimal decisions.
Students should organize their teams and begin discussion of the
Problem Based Learning assignment, “Pricing Game: Sony
PlayStation and Microsoft Xbox”. This case provides the necessary
price and quantity information to develop a pricing strategy. The
setting is the video game industry in 2009. The case begins with a
brief history of competition in the industry, highlighting entry lured by
the attraction of profits in a growing
industry, as well as exit due to failed technological innovations. The
case then focuses on price competition
and sets up an actual pricing decision made by Sony and Microsoft
as they approached the 2009 holiday season. The full case study is
available on D2L.
The instructor should describe the seven steps of Problem Based
Learning so that students understand the required output of each
step. Have them use the following steps to help their thought
process. This methodology will help bring consistency to their
decision making process.
1. Define the problem (must be well defined)
2. Brainstorm for possible solutions
3. Decide on the best solution
4 .Implement the selected solution
5. Observe to ensure your solution and implementation corrected
the problem. If not, go back to step 1 and start again.
In Class 1A, the students should complete Step 1: Define the
Problem.
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Session 1A
Managerial Economics | MBA 611
Faculty Evening Session 1B
Learning Objectives
By the end of the week the learner should be able to:
1. Participate in the weekly discussion questions and subsequent forum threads to enhance the learning experience.
2. Complete the group activity assignment.
3. Analyze economics and how it applies to your current employment position.
4. Apply the material in Chapters 1-3 to assist in the discussion with your current group.
5. Actively engage your fellow students by sharing your existing knowledge of economics and how you believe the interaction
can benefit every one involved.
Activities, Assignments and Assessments
INDIVIDUAL ACTIVITIES
DELIVERABLES
Discussion Question
Coffee is a commodity that is grown, processes and
shipped all over the world. Analyze the market for coffee
and address the following:
1. What are the determinants of demand for coffee?
2. What economic events or changes will “shift” demand
and supply curves, and separately “move” demand or
supply along their respective curves.
3. What will be the resulting effect on equilibrium price?
4. Can you explain any of the historical coffee price
fluctuations?
Assignments must be submitted to the Dropbox in
D2L before the start of Class 2A
Written Assignment
•
Chapter 1, page 36, Mathematical Exercises 1-3.
Team Written Assignment
•
Chapter 2, page 83, Applied Problems 1-10.
The initial post must be made mid week, and the response
posts must be made prior to the start of Class 2A.
Reading Assignment
Chapters 1-3 were covered in class 1A. Students should
review these chapters before attempting the homework
assignments.
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18
Session 1B
Managerial Economics | MBA 611
Faculty Evening Session 2A
Learning Objectives
By the end of the week the learner should be able to:
1. Construct a hypothetical regression model.
2. Experiment with statistical significance.
3. Model regression equations.
4. Evaluate multiple regression models.
5. Discuss the basic assumptions of consumer theory.
6. Summarize the marginal rate of substitution.
7. Differentiate between individual and market demand curves.
8. Translate and demonstrate the substitution and income effect.
9. Interpret the price elasticity of demand.
10. Outline the factors that affect price elasticity of demand.
11. Identify other demand elasticities.
Activities, Assignments and Assessments
INDIVIDUAL ACTIVITIES
GROUP ACTIVITIES
In Class Activity
Team Assignment or Activity
• Facilitate a review of individual and team assignments from
Chapters 1-3.
• Facilitate a conversation regarding the previous week’s
discussion question on coffee to further the students
understanding of the week’s material.
• Lead a discussion of concepts from Chapters 4-6:
– Basic estimation techniques.
– Theory of consumer behavior.
– Elasticity and demand.
Teams should work on PBL Step 2 and develop a list of what
they know about the problem.
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Instructor should develop activities that help students share
what they know; structure this using charts, graphs, graphic
organizers etc.
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IDEA
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
19
Session 1A
Managerial Economics | MBA 611
Faculty Evening Session 2B
Learning Objectives
By the end of the week the learner should be able to:
1. Participate in the weekly discussion question and subsequent forum threads to enhance the learning experience.
2. Complete the group activity assignment.
3. Experiment with regression analysis and how this basic estimation technique can help summarize and organize data.
4. Apply the material in Chapters 4-6 to assist in the discussion with your current group.
5. Actively engage your fellow students by sharing your existing knowledge of economics and how you believe the interaction
can benefit everyone involved.
Activities, Assignments and Assessments
INDIVIDUAL ACTIVITIES
DELIVERABLES
Discussion Question
Assignments must be submitted to the Dropbox in
D2L before the start of Class 3A.
As more potentially life-saving, but expensive drugs come to
market, patients and insurance companies have difficult
decisions to make. While in theory people would pay anything
to save their own life or that of a family member, the efficacy
of some of these drugs is uncertain and some are not
curative. For example, Genentech's drug Avastin is not
marketed as a life-saving drug, but as a life-extending drug
and is estimated to cost as much as $100,000 per year.
Research Avastin on the web, and address the following:
1) Who (free market, insurers, Government, drug companies)
should determine how demand is met? Use economic theory
to support your claim.
2) Do you believe that the government has an obligation to
set guidelines for who receive these drugs? If so, what should
those guidelines be?
3) Should the insurance industry be obligated to pay for
Avastin treatments and if so, how does this impact other
policy-holders? Why or why not?
Written Assignment
•
•
Chapter 4, page 149, Technical Problems 1-5.
Chapter 6, page 232, Applied Problems 1-2.
Team Written Assignment
•
•
•
Chapter 4, page 153, Applied Problems 1-3.
Chapter 5, page 187, Technical Problems 1-5.
Chapter 6, page 232, Applied Problems 1-3.
The initial post must be made mid week, and the response
posts must be made prior to the start of Class 3A.
Reading Assignment
Chapters 4-6 were discussed in class 2A. Students should
review these chapters before attempting the homework
assignments.
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20
Session 1B
Managerial Economics | MBA 611
Faculty Evening Session 3A
Learning Objectives
By the end of the week the learner should be able to:
1. Assess direct methods of demand estimation.
2. Summarize the empirical demand function.
3. Build and estimate demand for price setting firms.
4. Explain seasonal/cyclical variation.
5. Compare costs in the short-run.
6. Interpret costs in the long-run.
7. Illustrate isocost curves.
8. Outline forces that affect long-run costs.
9. Differentiate short-run and long-run costs and planning and restructuring that happens.
Activities, Assignments and Assessments
INDIVIDUAL ACTIVITIES
GROUP ACTIVITIES
In Class Activity
Team Assignment
•
Teams should work on PBL Step 3 and develop and write out
the problem statement.
Review individual and team homework/questions from
Chapters 4-6, basic estimation and demand analysis.
• Facilitate a conversation regarding the previous week’s
discussion question on free markets, insurers and
government, to further the students understanding of the
week’s material.
• Facilitate an in-class discussion reviewing concepts from
Chapters 7-9:
– Demand estimation and forecasting
– Production and cost in the short run.
– Production and cost in the long run.
Instructor should develop activities that help students
formulate problem statements that are specific , written and
accurate.
In Class Assessment
Quiz 1, covering Chapters 1-6.
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Session 1A
Managerial Economics | MBA 611
Faculty Evening Session 3B
Learning Objectives
By the end of the week the learner should be able to:
1. Participate in the weekly discussion question and subsequent forum threads to enhance the learning experience.
2. Complete the group activity assignment.
3. Illustrate the major differences between short-run and long-run costs and how firms utilize these differences to their
advantage.
4. Apply the material in Chapters 7-9 to assist in the discussion with your current group.
5. Actively engage your fellow students by sharing your existing knowledge of statistics and how you believe the interaction
can benefit everyone involved.
Activities, Assignments and Assessments
INDIVIDUAL ACTIVITIES
DELIVERABLES
Discussion Question
Assignments must be submitted to the Dropbox in
D2L before the start of Class 4A.
Corporations are constantly trying to maximize their profits by
increasing or decreasing the size of their operations. They do
this via mergers or acquisitions (M&A's), and/or spinoffs,
downsizing and outsourcing.
Research a corporate merger (within the last ten years publicly traded/public stock holders). Address the following:
1) Compare the profitability of the firms (including stocks
prices) before and after the merger.
2) What were the anticipated sources of the improved
profitability?
3) Were they realized? Why or why not?
Written Assignment
•
Chapter 7, page 268, Technical Problems 1-3.
Team Written Assignment
•
•
•
Chapter 7, page 271, Applied Problems 1-2.
Chapter 8, page 309, Applied Problems 1-3.
Chapter 9, page 354, Technical Problems 1-2.
The initial post must be made mid week, and the response
posts must be made prior to the start of Class 4A.
Reading Assignment
Chapters 7-9 were discussed in class 3A. Students should
review these chapters before attempting the homework
assignments.
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22
Session 1B
Managerial Economics | MBA 611
Faculty Evening Session 4A
Learning Objectives
By the end of the week the learner should be able to:
1. Evaluate the challenges with short-run estimating.
2. Identify the characteristics of perfect competition.
3. Model profit maximization in the short-run.
4. Construct a profit maximization model in the long-run.
5. Develop and implement a profit-maximizing output decision.
6. Elaborate on the general rules for implementation.
7. Identify barriers to entry.
8. Apply output and pricing decisions under monopolies.
9. Analyze profit-maximization under perfect competition.
Activities, Assignments and Assessments
INDIVIDUAL ACTIVITIES
GROUP ACTIVITIES
In Class Activity
Team Assignment
•
•
Teams should work on PBL Step 4 and list possible solutions
and then PBL Step 5, list actions to be taken with a timeline.
Review Quiz 1.
Facilitate a review of individual and team
homework/questions from Chapters 7-9. Ensure all
questions are answered before moving to the next topic.
• Facilitate a conversation regarding the previous week’s
discussion question on mergers and acquisitions to further
the students understanding of the week’s material.
• Lead a discussion on concepts from Chapters 10-12:
–Production and cost estimation.
–Managerial decisions in competitive markets.
–Managerial decisions for firms with market power.
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Instructor should develop activities that help students
brainstorm and list possible solutions and hypotheses. And
create action plans and strategies to implement their
solutions.
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
23
Session 1A
Managerial Economics | MBA 611
Faculty Evening Session 4B
Learning Objectives
By the end of the week the learner should be able to:
1. Participate in the weekly discussion question and subsequent forum threads to enhance the learning experience.
2. Complete the group activity assignment.
3. Graphically demonstrate how managers make decisions for maximizing profit in the short-run and the long-run .
4. Apply the material in Chapters 10-12 to assist in the discussion with your current group.
5. Actively engage your fellow students by sharing your existing knowledge of statistics and how you believe the interaction
can benefit everyone involved.
Activities, Assignments and Assessments
INDIVIDUAL ACTIVITIES
DELIVERABLES
Discussion Question
Assignments must be submitted to the Dropbox in
D2L before the start of Class 4A.
Research the tiered pricing behavior of pharmaceutical and
airline firms and address the following:
Give examples of how each industry practices price
discrimination.
1) What are the short and long term strategic reasons these
industries employ tiered pricing?
2) What impact does price discrimination have on the
profitability of these industries?
3) Specifically, explain and give an example the airline
industry "yield management" systems.
Written Assignment
•
Chapter 10, page 382, Applied Problems 1.
Team Written Assignment
•
•
Chapter 11, page 441, Applied Problems 1-3.
Chapter 12, page 501, Applied Problems 1-5.
The initial post must be made mid week, and the response
posts must be made prior to the start of Class 5A.
Reading Assignment
Chapters 10-12 were discussed in Class 4A. Students should
review these chapters before attempting the homework
assignments.
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resources
course
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IDEA
schedule &
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
24
Session 1B
Managerial Economics | MBA 611
Faculty Evening Session 5A
Learning Objectives
By the end of the week the learner should be able to:
1. Summarize Nash Equilibrium.
2. Compare and differentiate between simultaneous, sequential and strategic decisions.
3. Summarize you decision and demonstrate how you arrived at your conclusion.
4. Identify and detail price discrimination.
5. Demonstrate pricing practices for multiproduct firms.
6. Define cost-plus pricing.
7. Contrast risk and uncertainty.
8. Measure risk and probability.
9. Outline decision making involving risk.
Activities, Assignments and Assessments
INDIVIDUAL ACTIVITIES
GROUP ACTIVITIES
In Class Activity
Team Assignment
•
Teams should work on PBL Step 6, determine what they need
to know.
Facilitate a review of individual and team
homework/questions from Chapters 10-12 . Ensure all
questions are answered before moving to the next topic.
• Facilitate a conversation regarding the previous week’s
discussion question on pricing behavior to further the
students understanding of the week’s material.
• Lead a discussion on concepts from Chapters 13-15,:
– Strategic decision making in oligopoly markets.
– Advanced pricing techniques.
– Decisions under risk and uncertainty.
Instructor should develop activities that help students
develop a written proposal supported by research and
data.
In Class Assessment
Quiz 2, covering Chapters 7-12.
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Session 1A
Managerial Economics | MBA 611
Faculty Evening Session 5B
Learning Objectives
By the end of the week the learner should be able to:
1. Participate in the weekly discussion question and subsequent forum threads to enhance the learning experience.
2. Complete the group activity assignment.
3. Illustrate how decisions are made in different market conditions that involve risk and probability.
4. Apply the material in Chapters 13-15 to assist in the discussion with your current group.
5. Actively engage your fellow students by sharing your existing knowledge of statistics and how you believe the interaction
can benefit everyone involved.
Activities, Assignments and Assessments
INDIVIDUAL ACTIVITIES
DELIVERABLES
Discussion Question
Assignments must be submitted to the Dropbox in
D2L before the start of Class 6A.
America is known for its consummate "risk-takers". Research
the concept of "calculated risk" and address the following:
1) Describe an example of risk calculation found on the web.
2) What risk calculation technique is illustrated by your
example?
3) Would you have employed a different risk assessment
technique than used in your example, and why?
The initial post must be made mid week, and the response
posts must be made prior to the start of Class 6A.
Written Assignment
•
Chapter 13, page 561, Technical Problems 1-2.
Team Written Assignment
•
•
Chapter 13, page 565, Applied Problems 1-5.
Chapter 14, page 616, Technical Problems 1-2.
Reading Assignment
Concepts from Chapters 13-15 were covered in Class 5A.
Students should review these chapters before attempting the
homework assignment.
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expectations
resources
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
26
Session 1B
Managerial Economics | MBA 611
Faculty Evening Session 6A
Learning Objectives
By the end of the week the learner should be able to:
1. Identify markets competition and market failures.
2. Examine market failures and make a case for government intervention.
3. Compare market power and public policy.
4. Analyze government antitrust policy’s.
5. List problems related to negative externalities.
6. Illustrate public goods.
Activities, Assignments and Assessments
INDIVIDUAL ACTIVITIES
GROUP ACTIVITIES
In Class Activity
Team Assignment
•
•
Teams should work on PBL Step 7 – present and defend
conclusions.
Review Quiz 2.
Facilitate a review of individual and team
homework/questions from chapter 16-15. Ensure all
questions are answered before moving to the next topic.
• Facilitate a conversation regarding the previous week’s
discussion question on risk to further the students
understanding of the week’s material.
• Lead a discussion on concepts from Chapter 16
– Market competition and social economic efficiency.
– Market failure and the case for government intervention.
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Instructor should develop activities that help students
present their findings and review the success of their
action plans.
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
27
Session 1A
Managerial Economics | MBA 611
Faculty Evening Session 6B
Learning Objectives
By the end of the week the learner should be able to:
1. Participate in the weekly discussion question and subsequent forum threads to enhance the learning experience.
2. Complete the group activity assignment.
3. Explain government regulation and where and when it should be used in the marketplace.
4. Apply the material in Chapter 16 to assist in the discussion with your current group.
5. Actively engage your fellow students by sharing your existing knowledge of statistics and how you believe the interaction
can benefit everyone involved.
Activities, Assignments and Assessments
INDIVIDUAL ACTIVITIES
DELIVERABLES
Discussion Question
Assignments must be submitted to the Dropbox in
D2L before the end of the course.
Government intervention and regulation has increased over
the past several years. Based upon this address the following
questions.
Written Assignment
•
1) Describe how growth has been affected with antitrust
policies.
2) When is an appropriate time for government to step in? Or
should it step in?
Chapter 16, page 694, Technical Problems 1.
Team Written Assignment
•
•
Chapter 16, page 700, Applied Problems 1.
PBL Step 8 – debrief your performance.
The initial post must be made mid week, and the response
posts must be made by the end of the course.
Reading Assignment
Concepts from Chapter 16 were discussed in Class 5A.
Students should review this chapter before attempting the
homework assignment.
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course
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schedule &
sessions
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28
Session 1B