ECO 6969 – Managerial Economics
Master Syllabus
Instructor:
Credits:
Class Meeting Days:
Class Meeting Times:
Required Text:
Additional Text and Materials:
Dorothea LaFleur, Ph.D., CPA ([email protected])
3 (three)
To Be Determined
To Be Determined
Managerial Economics, 4th Edition
Author: Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
ISBN-13: 978-1305259331 ISBN-10: 1305259335
Publisher: Cengage Learning
No additional text or materials are required for this course. The required
text listed above is comprehensive and will provide students with the
necessary benchmarks to successfully complete this course.
Course Description:
Managerial Economics is the application of economic theory and methodology to managerial decision making
problems within various organizational settings such as a firm or a government department. The emphasis in
this course will be on demand analysis and estimation, production and cost analysis under different market
conditions, forecasting and decision making under uncertainty. Students taking this course are expected to have
had some exposure to economics and be comfortable with basic algebra. Some knowledge of calculus would
also be helpful although not necessary.
Course Goals:
The goal of this course is to provide students with a basic understanding of the economic theory and analytical
tools that can be used in decision making problems. Students who successfully complete the course will have a
good understanding of economic concepts and tools that have direct managerial applications. The course will
sharpen their analytical skills through integrating their knowledge of the economic theory with decision making
techniques. Students will learn to use economic models to isolate the relevant elements of a managerial
problem, identify their relationships, and formulate them into a managerial model to which decision making
tools can be applied. Among the topics covered in the course are: price determination in alternative market
structures, demand theory, production and cost functions, and decision making under uncertainty. In addition,
the course will provide a basic introduction to econometric analysis and its role in managerial decision making.
Mode of Instruction:
Instruction will include assigned readings, oral and written assignments, explanatory lectures, individual and
group presentations and discussion. Audio-visual equipment will be used when appropriate and evaluation will
include exercises and exams.
Learning Outcomes:
Upon successful completion of this course, students will be able to:
 Describe how the price of a product or service is determined;
 Master the demand-supply model;
Learning Outcomes Continued:
 Discuss the concepts and models related to market structure;
 Analyze product/service pricing with market power;
 Learn the strategic thinking and business strategy, incentives and organization design;
 Make decisions under uncertainty;
 Understand government policy toward business (including issues related to externality and asymmetry.
Teaching and Learning Philosophy:
As an institution, our goal at Cherub College is to create a learning environment that is fun, safe, entertaining,
and fair. We believe that students should have the opportunity to find the best of themselves in our courses. The
role of our instructors is to facilitate student learning and to challenge and encourage students to go beyond their
comfort level to do their best. Through assigned readings and other research as well as through class discussions
we will learn from each other as we explore the role of the counselor in developing a personal style for building
and then separating from helping relationships.
Course Policies:
1.) Registration: Only students who are officially enrolled in this course may attend. If you are not
officially enrolled and wish to add the class, please contact the Academic Advisor’s office.
2.) Attendance: Attendance will be taken at every class meeting. Absences due to prior work
commitments must be discussed with the instructor no later than one week before the relevant class
period(s). Written documentation is required for absences due to illness, deaths in family, etc.…
Your regular attendance is necessary as examinations and tests may not only cover material from the
textbook, but also material that may have only been covered at lectures. Additionally, participation
points will be awarded during the semester. Participation points will be earned through your
involvement in class activities. Please note that if you should miss class, it is your responsibility to
obtain missed materials from a classmate or by emailing the instructor. Tardiness is not appropriate
and will not be tolerated. Ensure that you allow yourself enough time to be in class before it begins.
Additionally, leaving class early is strongly discouraged.
3.) Examinations and Tests: These will be discussed at the beginning of the course. Students are
expected to take the exams and tests on the dates assigned. Make-up examinations will not be
permitted without proper documentation. Make-up examinations will not be allowed for any type of
unexcused absences, including missing class to study for a test, not being ready to take an exam or
having to work at an outside job. You will receive a failing grade for any missed exam unless proper
documentation is produced or you have been cleared prior by the instructor of Academic Advisors
Office.
4.) Final Grades: Students must complete all exams, papers, and test requirements to receive a final
grade. You are reminded of the College’s grading system as outlined below:
A
90-100
B
80-89
C
70-79
D
60-69
F
59 and Below
5.) Academic Honesty: Please do your own work! Using another person’s work as your own or using
information or ideas without proper citations is PLAGIARISM, a very serious academic fault, and it
can lead to your failing the entire course and being expelled from the college. All assignments
require references to any text material used. Plagiarism checker “turnitin” will be used.
Course Content:
 Introduction to Managerial Economics
 Demand, Supply and Market Equilibrium
 Measuring the Value of Market Exchange
 Marginal Analysis for Optimal Decisions
 Estimation Techniques
 Repression Analysis: Demand Estimation
 Elasticity Demand
 Demand Estimation and Forecasting
 Production and Cost
 Market Structure
 Managerial Decisions in Competitive Markets
 Advanced Pricing Techniques
 Regulating the Market Economy
 Project Decision
Evaluation and Assessment:
This course will be assessed through the process of Examinations, Assignments and Case Studies.
Assignments
Case Studies
Examinations
Analysis
20%
30%
30%
20%
Final Grades:
Students must complete all exams, papers and tests requirements to receive a final grade. You are reminded of
the College’s grading system as outlined below:
A
B
C
D
F
90 - 100
80 - 89
70 - 79
60 - 69
59 –and below