YOUNGSTOWN STATE UNIVERSITY

WILLIAMSON COLLEGE OF BUSINESS ADMINISTRATION

ECON 6921: ANALYZING THE ECONOMICS OF MARKET STRATEGY CRN 27319

Instructor:Albert (A.J.) Sumell

Office:314 DeBartolo

Phone:(330) 941-1678

e-mail:

website: http://ajsumell.people.ysu.edu/

Office Hours: 1:30 - 3:30 p.m. Mondays; 2:30 - 3:00 p.m. and 5:20 – 5:50 pm Tuesdays; 1:30 – 3:30 pm Thursdays; or anytime by appointment.

TEXT: Industrial Organization: Theory and Practice, 4/E Don E. Waldman and Elizabeth J. Jensen, Pearson Higher Ed, ISBN-10: 0132770989

Introduction

The objective of this course is to investigate theoretical models of markets and firm behavior. Topics covered in this course include: market structure, pricing strategies, game theory, product differentiation, advertising and signaling.

Content Knowledge

*Demonstrate knowledge and understanding of microeconomic principles and concepts relevant to business decision making.

*Students will understand how economic forces and market conditions affect business organizations.

*Students will understand how firms’ pricing and production strategies can be used to help meet their objectives.

*Students will apply knowledge to potential situations firms may encounter.

Foundation Skills

*Students will demonstrate critical thinking skills through application of tools to analyze and propose specific recommendations within the context of the market environment.

*Students will be able to present concepts and views clearly, professionally, and persuasively through effective oral communication within the context of class discussion.

*Students will be able to present concepts and views clearly, professionally, and persuasively through effective written communication both in assigned projects and course exams.

*Students will be able to locate, critically evaluate, appropriately document and apply information from external sources.

Personal Qualities

*Students shall be made aware of the positive personal qualities and social skills that are essential to a successful business career, including: responsibility, creativity, adaptability, self-management and integrity.

Workplace Competencies

*Demonstrate the ability to think critically about economic analysis and how it integrates within the overall organization.

*Have information technology and knowledge management skills (use database tools, spreadsheet tools, presentation graphics, and online research queries for business decision making and problem solving).

Grading

Grades will be based on student performance in the following areas:

2 assignments – 40% total (20% each)

6 quizzes – 30% total

Final exam – 30%

There will be six quizzes which will be given once per week starting in the second week. The quizzes will be given at the start of class and last 15-20 minutes. They will be both multiple and short answer based. Your lowest quiz grade will be dropped at the end of semester, such that missing one quiz will not directly impact your grade. There will be two assignments, each which will be posted on the class website at least 5 days before it is due.

Grades will be assigned as follows:

100% - 90%: A

89% - 80%: B

79% - 70%: C

69% - 60%: D

Below 60%: F

Please be advised that the following WILL adversely affect your grade:

1. Poor Attendance: Attendance is the responsibility of the individual student.

2. Plagiarism and Cheating: There is NO excuse for plagiarism (taking someone else's ideas and passing them off as your own) or cheating. Such behavior will result in failure of the course.

3. Personal Commitment: This course will demand a great deal of focus and hard work on the part of each student in a very compressed period of time. Be prepared to commit yourself at the highest level.

Policy on Academic Integrity/Honesty:

Academic honesty is essential to the educational process and serves to protect the integrity of the University. This course applies a “zero-tolerance” philosophy with respect to issues in this class related to academic dishonesty, plagiarism, cheating, and other violations of the educational process as spelled out in The Code of Student Rights, Responsibilities, and Conduct (http://www.ysu.edu/thecode.pdf) and Preventing and Responding to Academic Dishonesty: a Faculty Guide (http://cc.ysu.edu/student-life/Judicial-Affairs/links/faculty%20and%20dishonesty.pdf). As a condition of taking this course you agree that you are aware of your rights and of your responsibilities in this course as a responsible member of the YSU academic community. In this class any violations of the academic integrity policy will result in a failure grade for the course. For further information see the WCBA CODE OF CONDUCT.

University Statement on Disabilities

In accordance with University procedures, if you have a documented disability and require accommodations to obtain equal access in this course please contact your instructor to discuss your specific needs. You must be registered with the CSP/Disability Services, located on Fifth Avenue, and provide a letter of accommodation to verify your eligibility. You can reach the CSP/Disability Services at 330-941-1372.

Preliminary Schedule (Subject to Changes):

WEEK 1: 1/13Review of Basic Microeconomic Principles

WEEK 2: 1/20Firm Costsand Profit Maximization (Chapter 2)

WEEK 3: 1/27Market Structure (Chapters 3 and 4)

WEEK4: 2/03Assignment 1Due Game Theory and Prisoner’s Dilemma (Chapters 7 and 9)

WEEK 5: 2/10Oligopoly Behavior and Business Strategies (Chapter 11)

WEEK 6: 2/17Pricing Strategies and Price Discrimination (Chapter 16)

WEEK 7: 2/24Assignment 2DueProduct Differentiation and Advertising (Chapters 13 and 14)

WEEK 8: 3/03Comprehensive Final Exam

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