SOUTHEASTERN OKLAHOMA STATE UNIVERSITY
JOHN MASSEY SCHOOL OF BUSINESS
Via THE SOCIAL SCIENCES DEPARTMENT
SYLLABUS, FALL, 2014
Economics 5133(W1) MANAGERIAL ECONOMICS (8 week format)
FACULTY LISTING: Dr. George Collier, Office Russell 209
Telephone 580.745.2734;
Email:
Office Hours: MW 11:00AM – 1:00PM, F 11:00 – 11:30*
TT 10:45AM – 1:00PM; Tu 3:00PM – 5:00PM
Also on line during above; Or by Appointment.
* longer on appointment-free Fridays
COURSE DESCRIPTION: An application of microeconomic principles to business decision-making. Economic theory and quantitative methods are applied to managerial decisions about pricing, production, profit maximization and government restraints.
Prerequisites: Graduate standing to include required mathematics, Microeconomic Principles and Macroeconomic Principles (at SE Econ 2113 and Econ 2213).
RESOURCES: Required text: Managerial Economics: Analysis, Problems, Cases, 8th edition (revised, 2006), by Truett and Truett published by John Wiley & Sons. ISBN 13 is #9780470009932. The ISBN 10 is #0470009934. This is the paperback edition. It is both revised (relative to the original hard cover 2004 edition) and is much cheaper than the original hard cover edition. Try searching for it at www.bn.com, www.amazon.com, www.textbookx.com, www.chegg.com or at the Southeastern book store. Be careful to get the revised 2006 paperback.
You will also need reliable access to Southeastern’s Blackboard™ Learning Management system (LMS). Homework assignments and the exam will be served from this. All audio-enhanced Power Points will also be available through this system. A student account and password will be assigned by Southeastern upon completion of enrollment in the course. Specific technical requirements for Blackboard™ may be found on the Southeastern Online Learning website or Technical Requirements
ATTENDANCE: The Registrar’s office defines attendance in online classes as:
Stopped Attending = Students who were participating online but have stopped submitting any assignments, etc. without contacting/making arrangements with you
Never Attended = Students who never accessed Backboard to view the course or never completed any assignments that were due for the course
Excessive Absences = Students who have submitted some work but are infrequent in their participation or late on assignments—leading to a failing grade
I will try to check the Blackboard™ site and my email daily. This course is entirely on-line. As graduate students, you are expected to be highly motivated. Although attendance is not being strictly counted as part of the grade, performance is. I will use the Registrar’s definitions above for their reports, as required.
ETHICS: Academic integrity is a paramount concern to Southeastern Oklahoma State University, to the John Massey School of Business and to this instructor.
All students are expected to comply with the John Massey School of Business Policy on Academic Honesty. This policy statement covers cheating, plagiarism, unauthorized possession or disposition of academic material, as well as sanctions and procedures. This code may be found in this site under the COURSE INFORMATION button.
University Privacy Policy: Available in the SE Student Handbook.
Internet Etiquette (Netiquette): Available through the Southeastern Online Learning website or Netiquette
COURSE POLICIES:
1. Assignments: All twelve assignments and the exam are required. Additionally, you can receive up to 13 extra bonus points for correctly answering all questions on the Activity 1 introductory quiz; by completing Activity 2 the information request; by correctly doing the Graphing Bonus (part of Assignment 6) and by correctly completing the Bonus Cost Puzzle (related to Assignment 10). Bonus points thus received will be used as needed to bring your total points nearer to 100. There is no exemption from the exam. The Course Schedule (attached to this syllabus and thus a part of it) contains details and assignment due dates.
2. Late Assignments: There are twelve assignment worth 5 points each. A due date is set for each in the Weekly Schedule. Overdue assignments will incur a penalty of up to one point per 24 hour period late. An assignment will be posted in Blackboard’s™ “ASSIGNMENTS” as its corresponding Power Point(s) is/are made available in Blackboard’s™ “COURSE DOCUMENTS”. The same criteria applies to Bonus Activities. My goal is to return your graded assignment within a week after you submit it.
3. Exam: One exam; Exam 1, worth 40 points, will be posted after 8:00am Sept 15, and is due Sept 22 at 8:00am.
4. Exam Details: The exam will be posted in Blackboard’s™ “ASSIGNMENTS”. Some questions are multiple choice. Distracters may include errors commonly made on such a question. Some questions require short written answers. Those requiring a written mathematical answer are considered “short answer”. There is no excuse for missing or not turning the exam in on time. An overdue exam will incur a penalty of up to 5 points per 24 hour period late. Arrange for alternative computer access in case of an equipment malfunction. Handle personal problems pertaining to the exam before the exam, not after it.
5. Turning in work: Assignments will be made available via the Blackboard™ ASSIGNMENT option in the course site’s Blackboard™ menu. These may be repeatedly downloaded and then printed as needed. Many will prefer to prepare their submissions using dark leaded pencil or black pen. Scanned handwritten, legible submissions work well. All assignments must be submitted via their Blackboard™ assignment link on the page from which they were downloaded. I cannot get your work archived properly unless your submission is via the assignment link on the page from which the assignment was downloaded. Do not wait until the last minute to download an assignment or take an exam. Technical problems are not an excuse for missing a due date. ALWAYS keep yourself a backup copy of your completed homework or exam. I will not count it late if I receive a partial submission and the missing or illegible part is caused by an obvious technical problem. I will simply ask you to send me another copy (which must be done within three days of the date the bad copy was received). I have no choice but to turn in the final grade based on the work received. October 10th is the end of the eight week course period.
6. Instructor Expectations of Students: All students are expected to produce their own work. However, homework assignments may be worked cooperatively. Efforts will be made to use many unique versions. On all assignments and the exam, show your work in detail. Be sure you understand each assignment because these are an excellent review for the exam. If you have difficulties, send a short but complete e-mail to . Work ahead so you can send your questions and receive a reply well before the assignment’s due date.
7. Other Course Policies:
a. This syllabus is subject to revision as needed. A syllabus with a later revision date supersedes one with an earlier date. The revision date is at the bottom of the COURSE SCHEDULE page.
b. A withdrawal will be permitted any time so permitted by the University.
c. An “I” is strongly discouraged. It will be awarded upon advance request only under unusual circumstances. The request requires completion in advance of prescribed University documentation. The student must not be failing and must have substantially completed the course at the time it is awarded.
d. Preclude bad grades. Officially drop this course if you need to before the Last Day to Drop a Class (see the ACADEMIC CALENDAR, below).
e. E-mails: You are required to REGULARLY check your official SOSU student email account. I tend to first reply to the message received regardless of its URL. If this does not elicit a response (if required) from you, I will then reply to the preferred e-mail address you indicated in the information sheet you were required to return to me. Finally, if the above two do not work, I will reply to the official SOSU student email account. Refer to the Blackboard™ login page for details about your SOSU student email address. Be sure to include your name in the body of every email you send to me, and the assignment you are referencing. Telephone communication does not work well for questions because visual response is needed due to the algebra involved. Please use e-mail and not the telephone. I try to respond within 48 hours of receipt. If no response is received, send the message again (and state “Second submission” thereon).
OBJECTIVES: By the end of this course, students should:
1. Demonstrate an understanding of market operation and the use of comparative static analysis JMSB Learning Goal 2: Problem Solving; JMSB Learning Goal 3: Participate as a Member of a Team.
2. Algebraically derive total and marginal revenue functions and plot them graphically JMSB Learning Goal 2: Problem Solving.
3. Demonstrate the ability to find and apply the first derivative of a univariate function, expressing the results in algebraic notation if need be JMSB Learning Goal 2: Problem Solving.
3a. Demonstrate the ability to use the first and second derivative tests to find maximum, minimum and inflection points for a polynomial function JMSB Learning Goal 2: Problem Solving.
4. Explain in writing the effect on demand of a change in a variable in a multivariate linear demand function JMSB Learning Goal 2: Problem Solving.
5. Compute various types of elasticity using the mid-point and/or point elasticity formulas, and write an interpretation of the results JMSB Learning Goal 2: Problem Solving.
6. Demonstrate an understanding of cost concepts JMSB Learning Goal 2: Problem Solving.
7. Use the first derivative test to find the output level maximizing a firm’s operating objective, and find the price of its product when operating at this optimum objective. JMSB Learning Goal 2: Problem Solving.
8. Compare profit maximization and break-even analysis from an economic viewpoint and solve break-even problems JMSB Learning Goal 2: Problem Solving.
Alignment of Objectives with Local, State, and/or National Standards:
John Massey School of Business (JMSOB) Masters of Business Administration (MBA) Goals. This course is required as a part of the American Association of Colleges and Schools of Business (AACSB) MBA requirements. More specifically, it addresses the following JMSOB MBA Goals:
#2: To use appropriate analyses to screen and analyze data to improve the operation of an organization.
#3: To effectively participate as a member of a team.
EVALUATION and MINIMUM STANDARDS:
Objectives (above) are evaluated with written assignments (see course schedule below). Each assignment is scored with a scoring rubric (these may be seen in the COURSE INFORMATION menu item). Each assignment is worth 5 points. Since a B level of performance requires 80% of the points, B level performance on each assignment should be considered as no less than four (4) points. Assignments map to Objectives as follows:
Assignment / Title / ObjectiveOne / Demand or Supply Shifts / One
Two / Demand and Supply Shifts (utilizes discussion board) / One
Three / Function Fandango / Two
Four / Demand, TR, MR Plots / Two
Five / Derivative Exercise / Three
Six / Using Derivative Signals / Three
Seven / Interpreting Multivariate Demand / Four
Eight / Elasticity Exercise / Five
Nine / Opportunity Cost / Six
Ten / Short-run Costs / Six
Eleven / Profit Analysis / Seven
Twelve / Breakeven Analysis / Eight
GRADING: Percentage points totaling 100 can be earned by:
Exam I 40
Exercises 60
Bonus points earned as needed __
TOTAL 100 percentage points
A= accumulate at least 90 of 100 points
B= accumulate at least 80 of 100 points
C= accumulate at least 70 of 100 points
D= accumulate at least 60 of 100 points
F< 60 accumulated points
COMPLIANCE STATEMENTS
Special Accommodations: Any student needing special accommodations due to a disability should contact the Coordinator of Student Disability Services, GDJ Student Union, Room 328 or call (580) 745-2392 (TDD#745-2704). It is the responsibility of each student to make an official request for accommodations to the Coordinator. For additional information, see the Americans with Disability Act on the Southeastern Online Learning website or ADA Compliance.
Counseling Services: Any student experiencing mental or emotional issues who desires free, confidential, clinical counseling is encouraged to contact the SE Counseling Center at (580) 745-2988 to schedule an appointment during normal working hours Monday – Friday, 8:00 am to 5:00 pm. For after -hours mental health emergencies, please call SE Campus Police at (580) 745-2911 or the Mental Health Crisis Hotline at 1-(800) 522-1090 .
ACADEMIC CALENDAR: Important dates for the 8 week class block are listed here.
2014 Date / EventAug. 4 / Syllabus available on Blackboard
Aug. 18 / Classes Begin
Aug. 20 / Last day to enroll in or add a class (8 week class)
Aug. 22 / Last day to drop a class with no grade record (8 week class)
Last day to drop a class with a refund/no charges (8 week class)
Sept. 1 / Labor Day Holiday
Sept. 19 / Last day to drop a class with an automatic “W”(8 week class)
Sept. 26 / Final day to Drop/Withdraw (8 week class)
Oct. 10 / Last day of class (8 week class)
Oct. 13 / Final Grades due (8 week class)
COURSE SCHEDULE:
The following is the course schedule for the semester. If this schedule requires revisions, a new schedule will be posted here on BlackboardÔ with a new date. Key to abbreviations used: T is assigned text reading; BCD is Blackboard™ Course Documents; BAS is Blackboard™ Assignments. Lesson numbers 12, 14, 17, 19, 21, 25 are reserved for future use. Week ends at 8:00am on date indicated in leftmost column. Assignments are due at 8:00am on date indicated in rightmost column.
Date Week Ends
/Topic Agenda
/Assignments & Their Due Date
Week 1: 8/22 / Introductory Video, BCDLessons 1-4, BCD
Lesson 5: D/S Shift Examples, BCD
T: Ch2 (pp. 55-57 D/S Determinants) / Activity 1: 15 min Introductory Quiz; BAS, 8/26
Activity 2: Information Request; BAS, 8/26
Assignment 1: Demand or Supply Shifts; BAS, 8/26
Assignment 2: Demand and Supply Case with
Discussion Board Participation ; BAS, 8/29
Week 2: 8/29 / Lesson 6: Multivariate Fundamentals, BCD
Lesson 7: Multivariate Linear and Other
Useful Functions, BCD
Lesson 8: Revenue & Terminology, BCD
Lesson 9: Arc Marginals, BCD
Lesson 10: True Marginals, BCD
T: Ch2 (pp. 40-45; footnotes 19,21, p. 50) / Assignment 3: Function Fandango; BAS, 9/1
Assignment 4: Demand, TR, MR Plots; BAS, 9/5
Week 3: 9/5 / Lesson 11: Finding Derivatives, BCD
T: Appendix A(pp. 689-693, as helpful)
Lesson 13: Derivative Signals, BCD
T: Appendix A(pp. 694-698, as helpful) / Assignment 5: Derivative Exercise; BAS, 9/8(BCD optional video: Product Rule Differentiation)
Assignment 6: Using Derivative Signals and
Graphing Bonus optional offer; BAS, 9/10
Week 4: 9/12 /
Lesson 15: Multivariate Demand, BCD
Lesson 16: Elasticity 101, BCDT: Ch2 (pp. 58-75; footnotes 23,24) / Assignment 7: Interp. Multivariate Demand; BAS,9/15
(BCD optional video: Rawbucks Demand )
Assignment 8: Elasticity Exercise; BAS, 9/17
(BCD optional video: Elasticity)
Week 5:9/19 / Lesson 18: Elasticity 202, BCD
T: Ch 3 (footnote 16)
EXAM 1 (covers T: Ch 1,2; Lessons 2 – 18;
Assignments 1-8), BAS / No new assignment; Assignment 8 due 9/17
EXAM 1: posted BAS after 8:00 am 9/15;
Due in BAS 8:00am 9/22
Week 6:9/26 / Lesson 20: Intro to Costs of Production, BCD
T: Ch 6 (pp. 220-225)
Lesson 22: Short-run Cost Functions, BCD
Lesson 23: Seven Short-run Cost Concepts;
Short-run cost examples, BCDT: Ch 6 (bottom p. 232 to p. 236; footnote 16) / Assignment 9: Opportunity Costs; BAS, 9/29
Assignment 10: Short-run Costs; BAS, 10/1
Cost Puzzle bonus offer based on short-run cost concepts; BAS, 10/1
Week 7:10/3 / Lesson 24: Revenue Maximization, Profit Max. and other objectives, BCD
T: Ch 7 (pp. 279-290; footnotes 8 to 10)
Lesson 26: Breakeven Analysis 101, BCD / Assignment 11: Profit Analysis; BAS, 10/6
Week 8:10/10 / Lesson 27: Breakeven Examples, BCD
T: Ch 6 (p.236, fig. 6-6), Ch 7 (pp. 293-296) / Assignment 12: Breakeven Analysis; BAS, 10/8
Week : extra / Lesson 28: Constrained Maximization, BCD
T: Appendix to Ch 5 (pp. 217-219) / LaGrangian Multipliers: Lesson for your information ; no written assignment
HLCsyllabus.managerial2014_OL.doc June 29, 2014