EarlN.PhillipsSchool of Business

High PointUniversity

Course Syllabus

MANAGERIAL ECONOMICS

ECO 309

CATALOG DESCRIPTION:

A study of the practical use of economics in management forecasting and decision-making. Demand, supply and cost theories are examined from a business viewpoint.

PREREQUISITES: ECO 207 and ECO 208. Also, STS 220 is recommended.

TEXT:Managerial Economics,9th ed.,by Thomas and Maurice (McGraw-Hill, 2008).

COURSE OBJECTIVES AND SCOPE:

This course focuses upon a variety of economic tools and theories useful for business decision-making. The student will learn to apply these tools to various realistic business problems.

Topics include the following items:

(a) Theory of the firm.

(b) Optimization theory and techniques.

(c) Demand theory. Demand estimation and forecasting.

(d) Production theory and production function estimation.

(e) Cost theory and estimation.

(f) Market structures.

(g) Government regulation of economic activity.

(h) Risk analysis.

(i) Other topics as time permits.

HONOR CODE:

The High Point University Honor Code expects all students to act in a manner so as not to infringe upon the rights and responsibilities of others. It is crucial to the development of a college student that one have the right to learn and prosper in a society free from fraudulence and dishonesty. It is the responsibility of each student to help maintain such a society.

The High Point University Honor Code affirms that:

  • Every student is honor bound to refrain from conduct which is unbecoming of a High PointUniversity student and which brings discredit to the student and/or to the University.
  • Every student is honor bound to refrain from cheating.
  • Every student is honor bound to refrain from collusion.
  • Every student is honor bound to refrain from plagiarism.
  • Every student is honor bound to confront a violation of the University Honor Code.
  • Every student is encouraged to report a violation of the University Honor Code.

EARLN.PHILLIPSSCHOOL OF BUSINESS

HIGHPOINTUNIVERSITY

COURSE SYLLABUS

MANAGERIAL ECONOMICS: ECO 309-01

Semester:Spring Semester 2009

Credits:Three Semester Hours

Time: MWF12:00-12:50pm

Location: PHILLIPS 222

Professor: Jerry Fox, Ph.D.

Office:PHILLIPS 209

Office Hours:MTWThF 1-2pm

Phone:841-4559 (office), 841-4521(BusinessSchool)

Email:

COURSE AGENDA: Course material consists of five subjects.

I.Introductory Concepts, chapters 1-4

Business Objectives, Profitability

Present Value Analysis

Supply & Demand / Equilibrium

Marginal Analysis

Optimization Analysis

II.Demand Analysis, chapters 5-7

Consumer Behavior, Demand Curve

Demand Elasticities

Regression Analysis, Times Series Analysis

III.Supply Analysis, chapters 8-10

Production Function

Cost Analysis—short run and long run

Cost Estimation

Linear Programming

IV.Market Structures, chapters 11-13

Perfect Competition, Imperfect Competition

Game Theory, Government Intervention

V.Other Topics, chapters 14-16

Pricing Techniques

Risk Analysis

Government Regulation

TEACHING METHODS:

Teaching methods consist of lectures, discussions, readings, homework assignments, short analytical papers, group work, computer lab work, class experiments, analytical problems and exams.

ATTENDANCE POLICY:

Three unexcused absences result in an involuntary withdrawal.

GRADING POLICY:

Course grades are based on homework assignments, two midterms, a comprehensive final exam, class participation and individual effort. Exams consist of essay questions and analytical problems. The final exam consists of 50 percent new material and 50 percent review material from previous tests.

The course grade is determined according to the following criteria:

RequirementsPercentage of Course GradeExam Dates

1. Two midterms 60% (30% for each test)Feb 16; Mar 30

2. Comprehensive final 30% Tues, May 5, 1:30PM

3. Homework, 10%

Class Participation,

Individual Effort

Total: 100%