syllabus

Oklahoma City University
SYLLABUS
Managerial Economics
Economics 5203
December 9 - 20, Vancouver
Mostafa Moini, Ph.D. 521-5357;
mmoini@okcu.edu
http://ocu-stars.okcu.edu/mmoini/

TEXT AND READING MATERIALS
Text and Study Guide:
1. Mark Hirshey. Managerial Economics. (The latest edition available. 11tth edition is about to be out).
2. Study Guide for Managerial Economics is not required.

What you find under Course Materials on my website shall serve that purpose. Supplementary Reading:
1. Mostafa Moini. Value, Markets, and the Entrpreneur
2. Mostafa Moini. Value, Margin, and the Economy
To be downloaded from: http://ocu-stars.okcu.edu/mmoini/

COURSE DESCRIPTION
Economic principles are at work (1) within the very long period, evolutionary context; (2) at the economy-wide level (macroeconomics); (3) at the inter-firm, intra-industry, and inter-industry levels (microeconomics); and (4) at the intra-firm level (Operations Research -- Management Science). This course is concerned primarily with the third of the above, and to some extent with the last. Thus it provides an understanding of the more or less immediate environment of the firm and of some of the intra-firm decision problems and analytical concepts and methods which pertain to these problems. This course is concerned with the partial-equilibrium analysis of the product markets under competitive and monopoly conditions, analysis of factor productivities, cost, pricing principles and practices, and problems of estimation of demand and cost. These subjects are treated primarily from the standpoint of managers in the private sector, rather than that of the public agencies or the society as a whole.

PREC-COURSE ASSIGNMENTS
Text Chapters 1 and 3: Problems 1 - 5, Chapter 3
Use the spreadsheet methods you learn from the materials posted on my websites to do the above problems. Along with the above, students should review the following concepts as background materials for the course, using their undergraduate Principles of Economics texts (Microeconomics):
o The concept and the Law of Demand
o The concept and the Law of Supply
o Equilibrium Price and Quantity
o Changes in Equilibrium Price and Quantity due to changes in Demand, Supply, or both
o Price Elasticities of Demand and Supply Students who do not own such texts from their undergraduate courses may access any text used in the area universities for teaching Principles of Economics (Micro).
Here at OCU we use Colander's text. But it can be any other text as well. It does not matter if the text is a few years old. Perhaps different students can check out different editions of such texts by various authors from the area libraries. The materials in all of them are quite similar.

Read the two articles " Mostafa Moini. Value, Markets, and the Entrpreneur " Mostafa Moini. Value, Margin, and the Economy

PRE-COURSE EVALUATION
There will be an examination covering the materials under "Pre-Course Assignments".
See below: QIZES, EXAMINATIONS, AND OTHER PERFORMANCE

EVALUATION COURSE OBJECTIVE
In this course the student will learn about:
1. Scope and Method of Managerial Economics
2. Market Analysis and Market Structure
3. Revenue Analysis
4. Production, Cost and Profit
5. Pricing, Costing and Economic Data Utilization

TEXT CHAPTERS AND OTHER ASSIGNMENT
The course lectures focus primarily on the following chapters in the sequence indicated:
" Chapter 1
" Chapter 2
" Chapter 3
" Chapter 4 Excluding "Consumer Choice" and "Optimal Consumption" (pp. 99-109) (Alternative approach will be discussed in the class) "
Chapter 7 Excluding pp. 241-246, pp. 251-256. "
Chapter 8 Excluding pp. 298-302. "
Chapter 10. Excluding pp. 395-396 "
Chapter 12 Excluding pp.491-505. Exclude the Appendixes that appear at the end of some of the chapters.

POST-COURSE ASSIGNMENTS
The problems listed below are to be worked on jointly by the students in each study group (as described below) on best effort basis. Several of them will be discussed in the class. The results should be compiled as a Group Report to be turned in at the time of the final examination as part of the course requirements. A single report for presenting the work of all the participants in a group is sufficient. Answers to selected problems are provided at the end of the book. Students should demonstrate the process of obtaining these answers. " Only Excel (spreadsheet) should be used for answering the assigned problems, even if the answers are essentially text, involving little or no computations. No other file type will be accepted. Submission of the Group Report should be sent to me as electronic file attached to email sent by the group coordinator.
Chapter 2: Problems 2.1 - 2.7, 2.9, 2.10 (Ignore calculus symbols. Use spreadsheets)
Chapter 3: Problems 3.6 - 3.10
Chapter 4: Problems 4.1 - 4.9 Chapter 7: Problems 7.1 - 7.4, 7.6 - 7.9 (Excluding part A of 7.1 and E of 7.4)
Chapter 8: Problems 8.1 , 8.3-8.6, 8.9, 8.10.
Chapter 10: Problems 10.1- 10.9
Chapter 12: Problems 12.1-12.8

GROUPS " Groups in this course will be the same as those designated by Profesor Shafa in his course.

GROUPS PRESENTATIONS
Two presentations are to be prepared, one for each of the two Moini articles under Supplementary Readings.
The the two presentation files should be named as follows:
" Value, Margin, and the Ecoomy: File name: *******Margin
" Value, Market, and the Entrepreneur File name: *******Market
For ******* substitute the last name of the group coordinator.

Title Page Format: The title page must contain the following information: (sample will be posted on my website) " The names of group members should appear in alphabetical order of last names: Last name, first name. The coordinator's name should be underlined. " Course name, number and section " Semester. For example: Spring 2005, Oklahoma City University " Professor's name The time allowed for a presentation is 9 to 12 minutes (not including any discussion that may follow). All members of a group should participate in the presentation. Each person must demonstrate adequate knowledge of the materials in any of the asigments as well as the mechanics of Powerpoint. The part of the presenatation done by a group member will be determined by the professor at the time of presentation. It should not be predetermined by the group. A group member does not know beforehand which part she/hewill present. Special Note: The numerical example related to Crawling Average in"Value, Margin, and the Economy" should be presented as a formula-based, embedded spreadsheet.
Evaluation Criteria ( applies to Presentations and Discussions):
1. Completeness of coverage of the assigned topic and organization
2. Conceptual grasp and effectiveness in communicating what you know
3. Use of Key terms (which appear in bold letters in the text)
4. Grasp and communication of grahical and numerical materials
5. Use of Excel as a modeling tool and use of "Microsoft Draw" for effective graphs.
6. Use of Microsoft Draw" techniques within Excel for graphic display of the relations under discussion.

QIZES, EXAMINATIONS, AND OTHER PERFORMANCE EVALUATION
Pre-Course Assignments: 30 points
Presentation 20 points
Mid-Term 100 points
Final Examination 100 points
Class Discussion and Participation 20 points
Post-Course Assignments 30 points
Total 300 points