Central Methodist University – Fayette (Columbia Campus)

Managerial Economics

EC 314 Section AC

Fall 2016

8/22/16 – 12/16/16

Thursdays 4:00 – 6:45 p.m.

Instructor:  Jumoke Sanusi, Ph.D.

Contact Information:  JSanusi@centralmethodist.edu

                                      Cell Phone (573) 823-6040

                                        CMU Administration (573) 447-3311

Class Text: McKenzie, R.B., & Lee, D.R. (2010). Microeconomics for MBAs (2^nd ed.). New York: Cambridge University Press.

Catalog Course Description: Managerial Economics. 3 hours. Intermediate microeconomics with a focus on applications of Economics to decisions made by managers of a firm, including the concepts of demand analysis and forecasting, production and cost analysis, and pricing and output decisions. Prerequisite: EC 202; or instructor’s permission.

Course Objectives: The goal of this course is to develop students’ critical thinking skills in the areas of managerial decision making. These skills will be demonstrated in students’ understanding of economic theory and its application to various business settings, and in students’ ability to analyze case studies in individual and group settings.

Measurable Learning Outcomes: Upon completion of this course, students should be able to demonstrate understanding of the following

• The modern theory of market forces including the roles of incentives and profit
• Quantitative analysis of demand
• Economic tools such as cost-benefit analysis, and Internal Rate of Return calculations
• Why principal-agent problems arise in organizations
• Pricing and cost strategies for different market structures
• How constraints impact business decisions
• The role of government in the marketplace
• Integration of economic concepts including demand, cost, pricing and output strategies and effects of global competitive forces in analyses of current business events

Course Policies:

Attendance – Students are expected to be in class, and on time, every class meeting. Students are responsible for all material presented in class – regardless of whether they attended that class session.

Information Retrieval - Students are also responsible for any information the university or the instructor has sent to their email addresses. Please check your university email regularly.

Class Assignments – Homework assignments are due at the beginning of class. No make-up exams or make-up homework assignments are given; however, the lowest scores on these assignments are dropped.

Academic Honesty – Students are expected to complete their assignments honestly. Violations of academic integrity include cheating, unauthorized collaboration, and plagiarism. These violations will result in a zero score for the activity and possible referral to the Academic Dean.

Classroom Courtesy -  Teaching methods in this course will include discussions. Comments by class members are encouraged, and students are expected to be courteous in their treatment of comments by class members.

Cell Phone and Other Class Distractions – In order not to distract class activities, please turn off your cell phone or select a silent mode for your ringer during class activities. During class sessions, please use laptops or tablets only for class-related activities.

Evaluation:

Homework Assignments (lowest score is dropped) 100 points

Three exams (best two grades counted)                  200 points

Presentation                                                               100 points

Final Examination                                                    200 points  

TOTAL                                                                     600 points

Grading Scale

90 – 100%   =  A

80 – 89%     =  B

70 – 79%   =   C

60 – 69%   =  D

Below 60% =  F   

Course Schedule