2175434-Combined

2175434-Combined - RUTGERS UNIVERSITY Managerial Economic...

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1 RUTGERS UNIVERSITY Managerial Economic Analysis 22:223:581:61 Livingston – Beck 251 Professor Sharon Gifford Office hours: Tue. 5:30 – 6:30 Voice: 973-353-1646 (Newark) Levin 217c or by appointment E-mail: [email protected] Course Description: This course is designed to give you a working knowledge of the basic principles of microeconomic theory, with an emphasis on the applications of economics to management decision making. No prior economic training is assumed. Those with recent undergraduate degrees in economics are strongly encouraged to consider substituting an economics elective for this course. Course Materials: Textbook: Managerial Economics and Business Strategy, Fifth Edition, by Michael R. Baye (ISBN 0-07-298389-2), Irwin. The text and Study Guide may be available at the New Jersey and Rutgers Bookstore. However, I strongly recommend that you try to obtain the textbook and Study Guide online before class starts. The bookstores often run out if the book in the first week. Class Notes: Blackboard https://blackboard.newark.rutgers.edu/ . You will need your Rutgers NetID to logon. If you want to have your email forwarded from your Rutgers address, go to http://business.rutgers.edu/students/return.htm . If Blackboard is not accessible go to http://andromeda.rutgers.edu/~sgifford/manecon/. The Powerpoint slides are in the directory "slides". All other material for your class is in the directory "Night class". Prerequisite Topics Calculus: differentiation of linear and power functions, graphing a function, maximizing an objective function. Statistics: regression analysis, t-statistics, R 2 . Course Requirements Your grade for the course will be based on two 1-hour in-class exams (20% each), two projects (15% each) and a final exam (20%). The final 10% is based on class participation. Participation credit is earned by being active in class (asking questions, answering questions, telling good jokes, etc.) You can also get participation credit by being active in the Discussion Board on Bb. The projects will be done in groups of up to 4 students. The first project is based on question 10 in chapter 3 of the textbook. Each group will use a different data set, available on the disk that accompanies the text, to run a regression and answer the questions in the text. Each group will hand in one report. The second project will be an industry analysis based on the industry of your choice. Each group will hand in one report.
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2 Outline See Calendar on Bb for dates Week 1 Managerial Economics and Market Forces Ch. 1 and 2 Week 2 Demand Ch. 3 Week 3 Individual Behavior Ch. 4 Week 4 Production and Costs Ch. 5 Week 5 1 hour exam. Chapters 1-5 Organization of the Firm (project 1 due) Ch. 6 Week 6 Nature of Industry Ch. 7 Week 7 Managing Markets Ch. 8 Week 8 Rivalry Ch. 9 Week 9 1 hour exam. Chapters 6-9 Game Theory Ch. 10 Week 10 Pricing Strategy Ch. 11 Week 11 Economics of Information Ch. 12 Week 12 Government in the Marketplace (project 2 due) Ch. 14 Week 13 Review Final Exam Chapters 10, 11, 12 and 14 To prepare for class and the exams, read the assigned chapter(s) before class. Download and
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