MBA 504 – Managerial Economics Course Guide

Fall 2006

 

Karl W. Einolf, Ph.D.

301-447-5396 x4068

einolf@msmary.edu

http://faculty.msmary.edu/einolf

 

 

Course Overview

 

This course presents micro and macro economic analysis as tools to support decision making.  Firms operate within the macro and micro economies, and economic environments influence decisions and their outcomes. Text and case study applications are used, and students examine current economic and financial data.

 

Click here to see the MBA Learning Objectives

 

Click here to view a spreadsheet that indicates how the assignments in this course meet the MBA Learning Objectives

 

 

Course Materials

Wall Street Journal  (You must have access to a subscription to the Wall Street Journal during the course.  You may call the WSJ at 1-800-JOURNAL to set up a student subscription.  The latest rate is $19.95 for 15 weeks.  This includes access to wsj.com which could be helpful during the course.)

 

Specific articles in the WSJ may be searched for using the Mount’s library web page – use the following link and select “ProQuest databases”.

http://web2.msmary.edu/studentsandstaff/library/catalog_links.htm

 

Text:

William G. Forgang and Karl W. Einolf, Management Economics, 2007.  M.E. Sharpe: Armonk, New York.  ISBN: 0-7656-1779-X (paperback) 0-7656-1778-1 (hardcover). 

  

Please complete the following before

the first class on October 30, 2006

 

Read Chapter 1 and the Chapter 1 Appendix.

 

Be prepared to discuss Case Study 1.1 on page 43 (Mountain Builders).  You should read the case and think about how to answer the case study questions.  A written analysis is not due until the second class session.

 

Read the Wall Street Journal from October 23-28.  Be prepared to give an economic briefing on the current state of the economy (orally).

 

Answer the questions about the WSJ article described in this link.  This will be handed in on October 30th.

 

  

 

 
 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Evaluation

 

Assignment

Due Date

% Weight

Mountain Builders

Nov. 6

10%

Economic Scorecard

Nov. 13

10%

Homes at Barry’s Woods Case Study

Nov. 20

10%

Longaberger Baskets Case Study

Nov. 27

10%

Charles Betz Case Study

Dec. 4

10%

Permalens Case Study

Dec. 11

10%

World Savings Bank Case Study

Dec. 18

10%

Wall Street Journal Essays

All Semester

15%

Participation in Class Discussions

All Semester

15%

 

Course Policies and Procedures 

  • Cases are completed individually. Consultation between students is permitted, but each completes their own writing and analysis!  Be very careful when consulting with other students.  If your work (sentence structure, charts, tables, etc.) looks similar to the work of another student – even if your intent was not to copy – I will fail both of you for the assignment.
  • Student obligations extend beyond the text book. Other sources will be needed based upon skills and background of the student.
  • All submitted materials must use appropriate software. No handwritten reports will be accepted.
  • Papers / exams are due as scheduled! Late assignments will receive a significant grade reduction.  Students who do not submit all assignments by December 18th will receive a grade of (I).  If all assignments are not submitted by January 18th, the (I) will become an (F).
  • Perfect attendance and enthusiastic participation are expected.

 

 

Weekly Schedule:

 

 

Class # / Date

Topic

Assignments/Readings

(to be completed by 6pm on class date)  

1. October 30

 

Weekly Economics Briefing

Introduction to Economics

Forces of Competition

Regression Analysis

Mountain Builders Case Discussion

 

 

 Read Chapter 1,

the Chapter 1 Appendix,

and the Mountain Builders Case

 

Due: WSJ Essay #1

2. November 6

 

Weekly Economics Briefing

Introduction to Macro Economics

Circular Flow / Income Determination

Business Cycle Indicators

The Multiplier

Inflation and Unemployment

Fiscal Policy / Monetary Policy

 

 

 

Read Chapters 2 and 3

 

Due: Mountain Builders Case and WSJ Essay #2 

3. November 13

 

Weekly Economics Briefing

Supply / Demand Analysis

Economic Theory of the Firm

Profit Maximization

Optimal Pricing

Barry’s Woods Case Discussion

 

Read Chapter 4

and the

Homes at Barry’s Woods Case

 

Due: Economic Scorecard Case and WSJ Essay #3 

4. November 20

 

Weekly Economics Briefing

Demand Estimation

Longaberger Basket Case Discussion

The Costs of Production

Charles Betz Case Discussion

 

 

Read Chapter 5,

the Charles Betz Case,

and the

Longaberger Baskets Case

 

Due: Barry’s Woods Case

and WSJ Essay #4 

 

5. November 27

 

Weekly Economics Briefing

Market Structures and Pricing

Forecasting

Permalens Case Discussion

 

 

 

Read Chapter 6

and the Permalens Case

 

Due: Longaberger Basket Case

and WSJ Essay #5

 

6. December 4

 

Weekly Economics Briefing

Strategy – Game Theory

Permalens Case Discussion

 

 

 

Read Chapter 6

and the Permalens Case

 

Due: Charles Betz Case

and WSJ Essay #5

 

7. December 11

 

Weekly Economics Briefing

The Economics of Efficiency

Linear Programming

Data Envelopment Analysis

World Savings Case Discussion

 

Read: World Savings Case

Due: Permalens Case

 

8. December 18

No class

Due: World Savings Bank Case