Econ+140+course+syllabus+winter+2012 - UNIVERSITY OF...

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UNIVERSITY OF CALIFORNIA – IRVINE DEPARTMENT OF ECONOMICS SYLLABUS ECON 140 MANAGERIAL ECONOMICS Term: Winter 2012 Instructor: A. Sohrabian, Ph.D. Office: SSPB 3297 Phone: (909) 869-3795 Email: [email protected] TABLE OF CONTENTS Course Description Course Objectives Prerequisites Required Materials Expectations Evaluations Course Policies Study Strategies Course Outline and Assigned Readings Homework Assignments Instructor Profile 1
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: Businesses face important decisions every day and it is the job of managers at all levels to choose among the options available to further the goals of the organization. Managerial economics is a collection of concepts and methods that help managers make these decisions. These methods are not foolproof. Success sometimes depend upon luck, but thinking like an economist will often allow you to take full advantage of lucky opportunities that arise and allow you to minimize the impact of bad luck. Creative ideas are also a key to success; they are necessary but not sufficient. Again thinking like an economist will allow you to capitalize on creativity. What are some of these decisions that so importantly affect firms? Should we enter a new line of work or introduce a new product or service? Should we vertically integrate upstream or downstream? Should we diversity? How should we price our products? Can we charge different pries to different customers? Why? How? How do we address regulatory constraints? Should we take them as given or be proactive? If so, how? All these decisions affect the profitability of the firm and hence its ability to grow and survive. Course Objectives : A. To solidify your previous knowledge of tools of microeconomic analysis and to learn new analytical tools. B. To learn how the tools of microeconomics, including game theory and industrial organization theory, can be used to make better managerial decisions, particularly those involving the allocation of resources within firms. C. To give you some experience in making managerial decisions in simplified managerial scenarios, and, where possible, to extend that experience to real-world cases. D. To learn what kinds of information and techniques can help in making more effective managerial decisions. E. To learn the limits of microeconomic analysis, and, where possible, know what other tools are required for managerial decision-making. Prerequisite : ECON 100A or H100A, or 105A and 100B, or H100B, or 105B Required Material : Managerial Economics and Business Strategy, by Baye, Michael R., Seventh Edition, McGraw Hill, 2010. Lecture Notes and homework solutions (available at EEE). 2
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This note was uploaded on 02/10/2012 for the course ECONOMICS 140 taught by Professor Unknown during the Winter '11 term at UC Irvine.

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Econ+140+course+syllabus+winter+2012 - UNIVERSITY OF...

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