| Fin 30210 Managerial Economics Syllabus -- Fall - 2009 Instructor: Professor Barry Keating Office: 226 COBA Classroom: L003 Mendoza College of Business Time: 3:00 - 4:15 pm |
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| Fin 30210 Managerial Economics Syllabus -- Fall - 2009 Instructor: Professor Barry Keating Office: 226 COBA Classroom: L003 Mendoza College of Business Time: 3:00 - 4:15 pm |
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Managerial Economics, ISBN: 978-0-393-92496-1, Allen, Doherty, Weigelt, and Mansfield 6th Edition (W.W. Norton) -- Required
Please purchase the textbooks early so that you have access to the text starting on the first day of class. The textbooks are available in the Notre Dame Bookstore.
A calculator can be a valuable resource in this course. You are allowed to use any type of calculator on the exams (including programmable calculators).
A laptop with wireless (i.e., WiFi) capability for use in class will be useful for the economic experiments.
Courses in managerial economics typically have the reputation of being among the most challenging in any curriculum. The reputation is well deserved -- that should be admitted at the outset. But, despite the analytical rigor which characterizes the course, managerial economics is the heart of economics and the key to its application in the world of business.
Economics in general, and this course in particular, are designed to explain the nature of the real world; the intent here is to integrate theory and application. Theory is only justified by its power of application in this course. This course will make use of economic experiments conducted in class.
We will confine our inquiry in this course to six major topic areas:
Regular attendance is essential to the successful completion of this course. Attendance will regularly be taken and you are responsible for material covered in class whether or not you have attended class. Unsatisfactory attendance may result in a failing grade.
Because economic experiments are used in class, class attendance becomes critical; it will be impossible for the instructor to reproduce the learning experience for students who have missed the in class experiments.
A course grade will be assigned on the basis of individual student performance on two examinations, and a final examination.
- First Exam 25%
- Second Exam 25%
- Final Exam 50%
On the attached "Assignment Sheet" you will find a class-by-class list of topics to be individually covered and your reading assignment. Reading assignments in the textbook are to be completed before the class day under which they are listed in the assignment sheet.
Completing textbook problems is excellent preparation for each exam. No problems will be handed in but students are provided with interactive spreadsheets demonstrating many concepts.
You will note as you examine the "Assignment Sheet" that class sessions will not cover every textbook chapter; material in those chapters not specifically listed in this syllabus will not be included in the examinations.
No problems from the "Problems" section at the end of each textbook chapter will be handed in for grading . However, the problems are useful preparation for the examinations. Interactive spreadsheets are provided; you may find these useful in mastering the material and preparing for exams.
We will use economic experiments in this course. These experiments will utilize you wireless enabled (i.e., WiFi) laptops. Each experiment will model a particular aspect of economic reality. You will play a defined role in each of the experiments. You should pay particular attention to the debriefing session following each experiment.
Excel spreadsheets demonstrating many of the economic principles covered in class are available on the publisher's web page. These are interactive spreadsheets which will allow you to practice some techniques and "learn by doing." Some of these spreadsheets will be explained in classroom presentations.
These examinations will be full-period examinations of essentially a problem solving nature; problems will be similar to those in the textbook. Because of the technical nature of these examinations, students are allowed to use calculators. These examinations, however, are to be completed without reference to the textbook, class notes or any other materials. The Notre Dame Honor Code is in effect for these examinations.
This is also an examination administered during "final exam week" on the date and at the time prescribed by the Registrar . The same procedures which apply to the midterm examination also apply to this examination. Missing Examinations:
Students who miss examinations, with a valid University approved excuse, will take a makeup examination on a study day between the end of classes and the beginning of final examinations.
The Notre Dame Academic Code of Honor is observed in this class. Violation of the Honor Code consists of misrepresenting, in any way, anyone else’s work as your own, any verbal or written misrepresentations to the instructor, any use of unauthorized external materials during quizzes and/or tests, or any collaborative effort on independent assignments. All members of the class have an equal and shared responsibility to enforce the code of ethics among their peers.
Class#, Date, Topic, Assignment
1 8/26 (Wednesday) Introduction to Managerial Economics -- Chapter 1
2 8/31 (Monday) Optimization Techniques-- Chapter 2
3 9/2 (Wednesday) Demand Theory -- Chapter 3
4 9/7 (Monday) Demand Analysis -- Chapter 3 (continued)
5 9/9 (Wednesday) Consumer Behavior and Rational Choice -- Chapter 4
6 9/14 (Monday) Consumer Behavior and Rational Choice -- Chapter 4 (continued)
7 9/16 (Wednesday) Estimating Demand Functions -- Chapter 5
8 9/21 (Monday) Estimating Demand Functions -- Chapter 5 (continued)
9 9/23 (Wednesday) Business and Economic Forecasting -- Chapter 6
10 9/28 (Monday) Business and Economic Forecasting -- Chapter 6 (continued)
11 9/30 (Wednesday) - First Exam -- In Class
12 10/5 (Monday) Production Theory -- Chapter 7
13 10/7 (Wednesday) Production Theory -- Chapter 7 (continued)
14 10/12 (Monday) Technological Change and Industrial Innovation -- Chapter 8
15 10/14 (Wednesday) The Analysis of Costs -- Chapter 9
Fall Break -- October 17 - 25
16 10/26 (Monday) Perfect Competition -- Chapter 10
17 10/28 (Wednesday) Perfect Competition -- Chapter 10 (continued)
18 11/2 (Monday) Sophisticated Monopoly Pricing -- Chapter 12
19 11/4 (Wednesday) - Second Exam -- In Class
21 11/11 (Wednesday) Game Theory -- Chapter 14 (continued)
22 11/16 (Monday) Risk Analysis-- Chapter 15
23 11/18 (Wednesday) Auctions -- Chapter 16
24 11/23 (Monday) Moral Hazard and Principal Agent Problems-- Chapter 17
Thanksgiving Break November 25- 29
25 11/30 (Monday) Government and Business -- Chapter 19
26 12/2 (Wednesday) Government and Business -- Chapter 19 (continued)
27 12/7 (Monday) Government and Business -- Chapter 19 (continued)
28 12/9 (Wednesday) Wrap up/Catchup