COURSE BAPA 550 (816): Foundations of Managerial Economics
Course Outline
COURSE GOALS
To develop students the economic foundations of managerial decision making.
To introduce students to issues that have a profound impact on the success of organizations producing goods or
delivering services.
To develop students’ applicable skills of managerial decision making that enables an organization to achieve a
competitive advantage vis-à-vis its regional/global competitors.
LEARNING OBJECTIVES
Students will be able to:
•
Understand how the price of a product or service is determined.
•
Master the demand-supply model.
•
Understand 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.
•
Be able to make decisions under uncertainty
•
Understand government policy toward business (including issues related to externality and
asymmetric information).
ASSESSMENT SUMMARY
Assignments
30%
Exam
50%
Participation
20%
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COURSE BAPA 550 (816): Foundations of Managerial Economics
Course Outline
COURSE INFORMATION
Division: Operation and Logistics
Term/period: Summer 2016
Instructor: Prof. Anming Zhang
Teaching Assistant:
Email: [email protected]
Email:
Phone: (604) 822-8420
Phone:
Office hours:
Office hours:
Section number:
Class meeting times:
Course duration: July 15-17, 2016
Classroom location:
Pre-requisites:
Tutorials / labs:
Course website:
BRIEF COURSE DESCRIPTION
This course will develop the economic foundations of managerial decision making. It deals with
issues that have a profound impact on the success of organizations producing goods or delivering
services. Students will learn about, among others, how the price of a product or service is
determined, the demand-supply model, concepts and models related to market structure,
product/service pricing with market power, strategic thinking and business strategy, incentives
and organization design, decision making under uncertainty, government policy towards business
(including issues related to externality and asymmetric information). Due to the broad nature of
the subject, we will focus on the application of concepts and models to managerial decision
making that enables an organization to achieve a competitive advantage vis-à-vis its
regional/global competitors.
COURSE MATERIALS & REQUIREMENTS
Required Textbook: Managerial Economics and Strategy (First Edition, 2014) by Jeffrey M. Perloff and James A.
Brander.
Class notes: I will distribute class notes prior to our meeting.
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COURSE BAPA 550 (816): Foundations of Managerial Economics
Course Outline
SCHEDULE
Class#
Class 1
July 15
Class 2
July 16
Morning
Class 3
July 16
CLASS TOPICS
Lecture 1: Introduction to Managerial
Economics;
Demand-Supply Analysis;
Productions and Cost Analysis;
Competitive Market and Economic Efficiency
Lecture 2: Firm Organization and Market
Structure;
Pricing with Market Power
Lecture 3: Game Theory;
Business Strategy
July 17
Morning
Class 5
July 17
Afternoon
Required: Chapters 1 and 2
Partially required: Chapters 5 and 6
Recommended: Chapters 3 and 8
Required: Chapter 10
Recommended: Chapters 7, 9, and 11
Required: Chapters 12 and 13
Afternoon
Class 4
ACTIVITIES / READINGS
Lecture 4: Managerial Decision Making
Under Uncertainty;
Asymmetric Information;
Incentives and Organization
Lecture 5: Government and Business;
Global Business;
Course Review
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Required: Chapters 14 and 15
Required: Chapter 16
Recommended: Chapter 17
COURSE BAPA 550 (816): Foundations of Managerial Economics
Course Outline
TEACHING & LEARNING ACTIVITIES
Class meetings will consist of a combination of lectures, in-class discussions, in-class exercises,
and other activities. Case studies will be conducted, and the applications and examples related to
China will be discussed. I will also leave an assignment (a set of problems) for you to complete
after the module ends. This assignment will help you prepare for the exam.
COURSE AND INSTITUTIONAL POLICIES
Attendance: As per RHL policy on Professionalism, Attendance and Behaviour, students are expected to attend
100% of their scheduled classes. Students missing more than 20% of scheduled classes for reasons other than
illness will be withdrawn from the course. Withdrawals, depending on timing, could result in a “W” or an “F”
standing on a student’s transcript. Students must notify their instructors at the earliest opportunity if they are
expected to miss a class due to illness. A medical note from a licensed, local doctor is required if more than 20%
of scheduled classes for a course are missed due to illness. Students are required to notify the Student
Experience Manager if they are absent from two or more classes due to illness.
Tardiness: As per RHL policy on Professionalism, Attendance and Behaviour, students are expected to arrive for
classes and activities on time and fully prepared. Late arrivals may be refused entry at the discretion of the
instructor or activity lead. Students arriving halfway through a scheduled class, or later, will be treated as absent
for that class.
Electronic Devices: As per RHL policy on Professionalism, Attendance and Behaviour, laptops and other
electronic devices (cellphones, tablets, personal technology, etc.) are not permitted in class unless required by
the instructor for specific in-class activities or exercises. Cellphones and other personal electronic devices must
be turned off during class and placed away from the desktop. Students who fail to abide by the RHL “lids down”
policy will be asked to leave the room for the remainder of the class. Research has shown that multi-tasking on
laptops in class has negative implications for the learning environment, including reducing student academic
performance and the performance of those sitting around them.
ACADEMIC INTEGRITY
All UBC students are expected to behave as honest and responsible members of an academic community.
Failure to follow appropriate policies, principles, rules and guidelines with respect to academic honesty at UBC
may result in disciplinary action.
It is the student’s responsibility to review and uphold applicable standards of academic honesty. Instances of
academic misconduct, such as cheating, plagiarism, resubmitting the same assignment, impersonating a
candidate, or falsifying documents, will be strongly dealt with according to UBC’s procedures for Academic
Misconduct. In addition to UBC’s Academic Misconduct procedures, students are responsible for reviewing and
abiding by RHL’s policy on Academic Integrity.
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COURSE BAPA 550 (816): Foundations of Managerial Economics
Course Outline
LATE ASSIGNMENTS
Late submissions will not be accepted and will receive a zero.
OTHER INFORMATION
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