MEDITERRANEAN SCHOOL OF BUSINESS COURSE: ECO 511 BUSINESS ECONOMICS 1 11/15/18 SOUTH MEDITERRANEAN UNIVERSITY PROFESSOR: Alec Hansen, Ph.D. DATE: October 2018
Session 1 Agenda - Review course syllabus & evaluation criteria - Intro to Group project - Short overview of enterprise strategy - Short overview of economic clusters - Review reading assignments & homework 2
COURSE EVALUATION Assessment Method % of final grade Dates Class Participation 10% Quizzes & Homework 15% Midterm 15% October 19 Case Study 25% October 25 Final Exam 35% October 29 Total 100% 3
MBM Program PROGRAM LEARNING OUTCOMES (PLO) Demonstrate understanding of managerial concepts and tools in a local and global business environment. Communicate business ideas effectively, coherently, and persuasively. Think and act in an ethical and socially responsible way. Demonstrate an understanding of teamwork, leadership, and cultural diversity. Adapt and innovate to solve business problems. Develop an entrepreneurial spirit. PROGRAM SKILLS DEVELOPMENT (PSD) The Undergraduate Program in Management trains students to acquire to following skills: Knowledge Acquisition skills Communication skills Creativity and innovation skills Problem Solving and critical thinking Analytical skills Leadership and teamwork skills Social and cultural awareness 4
ECO 501 Business Economics COURSE LEARNING OUTCOMES (CLO) • Identify the elements of economic way of thinking and apply economic concepts to created exercises with known solutions; • Creatively apply analytical techniques to real-world, open-ended questions and predict managerial decisions; • Recognize different types of market structures and develop analytical skills to make optimal pricing decisions and formulate pricing strategies; • Use competitive analysis and describe strategic positioning; • Evaluate the condition of the macro and international economy as it relates to business decisions; and • Compare monetary policy and fiscal policy and explain their effects on the economy. 5
Course Texts Microeconomics Besanko, Dranove, Shanley, and Schaefer. ‘Economics of Strategy’, Wiley, 6th edition. ISBN: 978-1118273630 (EoS) Van Zandt, Timothy. ‘Firms, Prices and Markets’, 2012 (electronic) Macroeconomics Krugman, Wells, Goody. ‘Essentials of Economics’, Worth Publishers, 3rd edition, 2013. ISBN: 978-1429278508 CFA Students C. D. Piros & J. E. Pinto. ‘Economics for Investment Decision Makers: Micro, Macro, and International Economics’, Wiley 2013. ISBN: 978-1-118-10536-8 6
Topics & Grading for ECO 511 Static and Dynamic Competition Optimal Pricing Enterprise Strategy Regional Competitiveness (Clusters) Economic Growth Business Cycle Monetary & Fiscal Policy Qualitative Quantitative
El Paso Austin Marin Los Angeles Seattle Louisiana Nebraska Kansas Indiana Florida New York Arizona Pennsylvania Silicon Valley Monterey Iowa Oregon Oakland U.S. Economic Strategy Experience 8 Alaska
Cairns Morocco Alaska Slovenia Singapore Bangalore Germany Campeche South Africa Pakistan Russia Panama El Salvador Brazil Argentina Georgia Denmark Jordan Iceland Hong Kong Ottawa Turkey Honduras Malaysia
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