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Other · Richards College of Business · Economics

Managerial Economics
ECON-6450

  • Summer 2021
  • Section E01
  • 3 Credits
  • 06/01/2021 to 07/23/2021
  • Modified 05/31/2021

Description

This course builds skills in microeconomic analysis for managers and provides a conceptual foundation for further functional area studies. Topics include consumer and producer theory, industrial organization, and aspects of game theory and statistical analysis. Prerequisites: ECON 2105 or 2106, ECON 3402

Requisites

Prerequisites:
(ECON 2105 or ECON 2106 ) and ECON 3402
Corequisites:

Contact Information

Instructor: Dr. Adrian Austin

Office Hours

  • by appointment

            Teleconference with Google Meet. Call or email for an appointment.

Meeting Times

100% Online

Materials

Managerial Economics and Business Strategy, 10th edition (with Connect Access)

  • Author: Baye, M
  • Publisher: McGraw-Hill
  • Edition: 10th
  • ISBN: 1266438688

We will use the McGrawHill Connect portal that goes along with this textbook. Connect is embedded in CourseDen. Follow the link “Go to my Connect section” in the McGraw Hill widget on the course homepage.

Outcomes

Upon completion of this course, students will have demonstrated the ability to:

Utilize analytical and problem solving skills from economic theory for managerial decision making. (LG5)

Identify how globalization affects organizations and their environment. (LG3)

Communicate at a professional level. (LG 1)

Note: A complete list of expected learning goals (LG) for the Richards College of Business Master of Business Administration program can be found at: https://www.westga.edu/mba/#tab6a

Evaluation

Criteria

Types of evaluations and related weights
Type Weight Topic Notes
SmartBook Exercises 110 points

SmartBook is an unparalleled, intelligent learning system based on cognitive mapping that diagnoses students' knowledge of a particular subject then creates an individualized learning path geared towards student success in the course. It offers individualized assessment by delivering appropriate learning material in the form of questions at the right time helping students attain mastery of the content. As a student works within the system, SmartBook develops a personal learning path adapted to what the student has learned and retained. SmartBook is also able to recommend additional study resources to help the student master topics.

The SmartBook exercises can be found at the Connect portal. There are 13 exercises (one per Chapter) worth 10 points each. The lowest two scores will be dropped.

Chapter Homework Assignments 220 points

For each chapter there is a homework set. You can do the homework exercise an unlimited number of times. These homework assignments are designed to help you implement the concepts that you have learned.

The Chapter Homework Assignments can be found at the Connect portal. There are 13 exercises (one per Chapter) worth 20 points each. The lowest two scores will be dropped.

Chapter Q&A Discussions 120 points

The chapter Question and Answer discussions are the most important component of the course. This is where most of the interaction between me and you (and the other students) will take place.

These discussions are the place where you can ask questions, answer questions, and engage in discussions about the material. My job is to respond to your queries as well as moderate the discussion and in this way my expertise in this area can be tailor-made to best meet your needs. The more you participate in the discussion forums the more you will get out of this class.

There are 13 Question and Answer Discussions (one for each chapter). They are on CourseDen.

You get 20 points for each Q&A discussion to which you make at least one credit earning post. You can get no more than 20 points for each Q&A discussion and no more than 120 points over the entire semester so you must post to at least 6 different Q&A discussions for full credit. Of course you are free to make as many posts as you would like, but once you have earned the maximum 120 points for Q&A discussions over the semester there are no extra points to be earned. A credit earning post can take one of three forms:

1. Question: A non-trivial question on the material or on a problem that you are having with a particular question. If you are posting a question start a new thread with “Question” as the first word in the title followed by a brief description that identifies the subject of the question. Feel free to post questions on the homework problems. Please don’t quiz your fellow students.

e.g.

Question: Limit Pricing

2. Answer: You get credit if you are the first person to answer someone else’s question correctly or if you make a substantial addition to someone else’s answer. Your answer should contain an explanation. If you are answering someone else’s question please reply to the thread.

3. Comment: You get credit if you can come up with unique practical examples/uses for the material being covered in the Chapter. By unique I mean that it should not be an example that someone else has already posted. If you are posting a comment start a new thread with “Comment” as the first word in the title followed by a brief description that identifies the subject.

e.g.

Comment: Prisoner’s Dilemma

Ask questions early so that you can expect an answer before assignments are due!

Chapter Specific Topic Discussions 120 points

For each chapter there is a specific question that you must answer in the specific topic discussion. Your grade will be determined by the quality of your answer. There are 13 specific topic discussions (one per chapter) worth 15 points each. Your total score in this component will come from your best 8 scores. If you earn 15 points each for 8 of the specific topic discussions you will have earned full credit.

Chapter Quizzes 220 points

For each chapter there is a quiz. You have one attempt at the quiz.

Chapter quizzes can be found at the Connect portal. There are 13 quizzes (one per chapter) worth 20 points each. The lowest two scores will be dropped.

Final Exam 460 points

The final exam is worth 460 points and is cumulative. The final exam will consist of 44 multiple choice questions (2% each) and one short essay question (12% of final exam grade).

The multiple choice questions will be similar in style and structure to the quiz questions and covers all sections of the course.

The essay question is a three part question on exchange rates and international trade.

We will use ProctorU for the final exam. Please see UWG's ProctorU page for details. I will post an announcement on CourseDen when ProctorU registration is open for our final.

Breakdown

Graded Exercise

Location

Points

1)      Learn Smart Exercises

  Connect

110 Points

2)      Chapter Homework Assignments

  Connect

220 Points

3)      Participation (Q&A Discussions)

 CourseDen

120 Points

4)      Participation (Specific Topic Discussion)

Course Den

120 Points

5)      Chapter Quizzes

  Connect

220 Points

6)      Final Exam

 Connect

460 Points

Total

 

1250 Points

 

1125-1250 points

90% - 100%

A

1000 - 1124 points

80% - 89.9%

B

875 - 999 points

70% - 79.9%

C

< 875 points

< 70%

F

Assignments

The first assignments are due on June 4th. Assignments are due on Tuesdays, Wednesdays, Fridays and Saturdays. The quizzes and discussions are due on Wednesdays and Saturdays and the SmartBook exercises and homework are due the day before.

 

Please pay attention to all due dates since no late work is accepted.

All assignments are due at 11:59 PM EST!

Date

Item

Location

Friday, June 4, 2021

Chapter 1 SmartBook due

Connect

Chapter 1 Homework due

Connect

Saturday, June 5, 2021

Chapter 1 General Discussion Due

CourseDen

Chapter 1 Specific Discussion due

CourseDen

Chapter 1 Quiz due

Connect

Tuesday, June 8, 2021

Chapter 2 SmartBook due

Connect

Chapter 2 Homework due

Connect

Wednesday, June 9, 2021

Chapter 2 General Discussion Due

CourseDen

Chapter 2 Specific Discussion due

CourseDen

Chapter 2 Quiz due

Connect

Friday, June 11, 2021

Chapter 3 SmartBook due

Connect

Chapter 3 Homework due

Connect

Saturday, June 12, 2021

Chapter 3 General Discussion Due

CourseDen

Chapter 3 Specific Discussion due

CourseDen

Chapter 3 Quiz due

Connect

Tuesday, June 15, 2021

Chapter 5 SmartBook due

Connect

Chapter 5 Homework due

Connect

Wednesday, June 16, 2021

Chapter 5 General Discussion Due

CourseDen

Chapter 5 Specific Discussion due

CourseDen

Chapter 5 Quiz due

Connect

Friday, June 18, 2021

Chapter 6 SmartBook due

Connect

Chapter 6 Homework due

Connect

Saturday, June 19, 2021

Chapter 6 General Discussion Due

CourseDen

Chapter 6 Specific Discussion due

CourseDen

Chapter 6 Quiz due

Connect

Tuesday, June 22, 2021

Chapter 7 SmartBook due

Connect

Chapter 7 Homework due

Connect

Wednesday, June 23, 2021

Chapter 7 General Discussion Due

CourseDen

Chapter 7 Specific Discussion due

CourseDen

Chapter 7 Quiz due

Connect

Friday, June 25, 2021

Chapter 8 SmartBook due

Connect

Chapter 8 Homework due

Connect

Saturday, June 26, 2021

Chapter 8 General Discussion Due

CourseDen

Chapter 8 Specific Discussion due

CourseDen

Chapter 8 Quiz due

Connect

Tuesday, June 29, 2021

Chapter 9 SmartBook due

Connect

Chapter 9 Homework due

Connect

Wednesday, June 30, 2021

Chapter 9 General Discussion Due

CourseDen

Chapter 9 Specific Discussion due

CourseDen

Chapter 9 Quiz due

Connect

Friday, July 2, 2021

Chapter 10 SmartBook due

Connect

Chapter 10 Homework due

Connect

Saturday, July 3, 2021

Chapter 10 General Discussion Due

CourseDen

Chapter 10 Specific Discussion due

CourseDen

Chapter 10 Quiz due

Connect

Tuesday, July 6, 2021

Chapter 11 SmartBook due

Connect

Chapter 11 Homework due

Connect

Wednesday, July 7, 2021

Chapter 11 General Discussion Due

CourseDen

Chapter 11 Specific Discussion due

CourseDen

Chapter 11 Quiz due

Connect

Friday, July 9, 2021

Chapter 12 SmartBook due

Connect

Chapter 12 Homework due

CourseDen

Saturday, July 10, 2021

Chapter 12 General Discussion Due

CourseDen

Chapter 12 Specific Discussion due

CourseDen

Chapter 12 Quiz due

Connect

Tuesday, July 13, 2021

Chapter 14 SmartBook due

Connect

Chapter 14 Homework due

CourseDen

Wednesday, July 14, 2021

Chapter 14 General Discussion Due

CourseDen

Chapter 14 Specific Discussion due

CourseDen

Chapter 14 Quiz due

Connect

Friday, July 16, 2021

INTERNATIONAL SmartBook alternative due

CourseDen

INTERNATIONAL Homework due

CourseDen

Saturday, July 17, 2021

INTERNATIONAL General Discussion Due

CourseDen

INTERNATIONAL Specific Discussion due

CourseDen

INTERNATIONAL Quiz due

Connect

Final Exam

Wednesday July 21, 2021 from 6:00PM to 8:00 PM EST

Connect

Schedule

Introduction

Chapter 1

Demand and Supply Analysis

Chapter 2

Quantitative Demand Analysis

Chapter 3

Production

Chapter 5

Firm Theory

Chapter 6

Industry and Market Structure

Chapter 7

Managing in Different Environments I: Perfect Competition; Brand Competition; Monopoly

Chapter 8

Oligopoly Models

Chapter 9

Managing in Different Environments II: Oligopoly

Chapter 10

Pricing with Market Power

Chapter 11

Information

Chapter 12

Government

Chapter 14

Global Economy

 

College/School Policies

Wolf Pact

Having read the Honor Code for the University of West Georgia, I understand and accept my responsibility to uphold the values described therein and to conduct myself in a manner that will reflect the values of UWG and the Richards College of Business so as to respect the rights of all UWG community members. As a UWG student, I will represent myself truthfully and complete all academic assignments honestly and within the parameters set by my instructor.

I understand and accept that if I am found guilty of violations (through processes due me as a UWG student and outlined in the UWG Student Handbook), penalties will be imposed.

I also recognize that my responsibility includes a willingness to confront members of the UWG community if I feel there has been a violation of the Honor Code.  

Ultimately, I will conduct myself in a manner that promotes UWG as the best place to work, learn, and succeed for my generation, and those to come!

About the Richards College of Business

Vision
To become a globally recognized college of business preparing forward-thinking, responsible leaders.

Mission
We are in the business of transforming lives through education, engagement, and experiences.

Strategic Goals and Values

Student Success
Admit quality students and provide them with an education that is rich in experiences and engagement opportunities to prepare them to be effective and ethical professionals.

Academic Success
Recruit, retain and develop faculty and staff by providing sufficient resources to support dynamic and up-to-date bachelor and master-level curricula, to conduct research and other professional activities, and to support engagement with all stakeholders.

Operational Success
Recruit, retain and develop administrative management and staff personnel to manage, develop and support infrastructure and those activities that build internal and external partnerships while working in an ever-changing environment.

Ethical Values
The Richards College of Business community (administrators, faculty, staff, students, and business partners) share a commitment to the principles of honesty and integrity in interactions and undertakings, accountability for personal behavior, and respect for the rights, differences, and dignity of others. In addition, we strive to continuously improve our abilities to recognize unethical behavior and to make ethical and moral decisions.

Institutional Policies

Academic Support

Accessibility Services: Students with a documented disability may work with UWG Accessibility Services to receive essential services specific to their disability. All entitlements to accommodations are based on documentation and USG Board of Regents standards. If a student needs course adaptations or accommodations because of a disability or chronic illness, or if he/she needs to make special arrangements in case the building must be evacuated, the student should notify his/her instructor in writing and provide a copy of his/her Student Accommodations Report (SAR), which is available only from Accessibility Services. Faculty cannot offer accommodations without timely receipt of the SAR; further, no retroactive accommodations will be given. For more information, please contact Accessibility Services.

Center for Academic Success: The Center for Academic Success provides services, programs, and opportunities to help all undergraduate students succeed academically. For more information, contact them: 678-839-6280 or [email protected]

University Writing Center: The University Writing Center assists students with all areas of the writing process. For more information, contact them: 678-839-6513 or [email protected]

Online Courses

UWG takes students’ privacy concerns seriously: technology-enhanced and partially and fully online courses use sites and entities beyond UWG and students have the right to know the privacy policies of these entities. For more information on privacy and accessibility for the most commonly used sites, as well as technology requirements visit the UWG Online site.

Students enrolled in online courses can find answers to many of their questions in the Online/Off-Campus Student Guide.

If a student is experiencing distress and needs help, please see the resources available at the UWG Cares site. Online counseling is also available for online students.

Honor Code

At the University of West Georgia, we believe that academic and personal integrity are based upon honesty, trust, fairness, respect, and responsibility. Students at West Georgia assume responsibility for upholding the honor code. West Georgia students pledge to refrain from engaging in acts that do not maintain academic and personal integrity. These include, but are not limited to, plagiarism, cheating, fabrication, aid of academic dishonesty, lying, bribery or threats, and stealing. 

The University of West Georgia maintains and monitors a confidential Academic Dishonesty Tracking System. This database collects and reports patterns of repeated student violations across all the Colleges, the Ingram Library, and the School of Nursing. Each incidence of academic dishonesty is subject to review and consideration by the instructor, and is subject to a range of academic penalties including, but not limited to, failing the assignment and/or failing the course. Student conduct sanctions range from verbal warning to suspension or expulsion depending on the magnitude of the offense and/or number of offenses. The incident becomes part of the student’s conduct record at UWG.

Additionally, the student is responsible for safeguarding his/her computer account. The student’s account and network connection are for his/her individual use. A computer account is to be used only by the person to whom it has been issued. The student is responsible for all actions originating through his/her account or network connection. Students must not impersonate others or misrepresent or conceal their identities in electronic messages and actions. For more information on the University of West Georgia Honor Code, please see the Student Handbook.

UWG Email Policy

University of West Georgia students are provided a MyUWG e-mail account. The University considers this account to be an official means of communication between the University and the student. The purpose of the official use of the student e-mail account is to provide an effective means of communicating important university related information to UWG students in a timely manner. It is the student’s responsibility to check his or her email.

Credit Hour Policy

The University of West Georgia grants one semester hour of credit for work equivalent to a minimum of one hour (50 minutes) of in-class or other direct faculty instruction AND two hours of student work outside of class per week for approximately fifteen weeks. For each course, the course syllabus will document the amount of in-class (or other direct faculty instruction) and out-of-class work required to earn the credit hour(s) assigned to the course. Out-of-class work will include all forms of credit-bearing activity, including but not limited to assignments, readings, observations, and musical practice. Where available, the university grants academic credit for students who verify via competency-based testing, that they have accomplished the learning outcomes associated with a course that would normally meet the requirements outlined above (e.g. AP credit, CLEP, and departmental exams).

HB 280 (Campus Carry)

UWG follows University System of Georgia (USG) guidance: http://www.usg.edu/hb280/additional_information#

You may also visit our website for help with USG Guidance: https://www.westga.edu/police/campus-carry.php

Mental Health Support

If you or another student find that you are experiencing a mental health issue, free confidential services are available on campus in the Counseling Center. Students who have experienced sexual or domestic violence may receive confidential medical and advocacy services with the Patient Advocates in Health Services. To report a concern anonymously, please go to UWGcares.

ELL Resources

If you are a student having difficulty with English language skills, and / or U.S. culture is not your home culture, specialized resources are available to help you succeed. Please visit the E.L.L. resource page for more information.

COVID-19

Proctored Exams/Online Instruction: Students should be aware and plan ahead for the possibility of having to complete all courses and/or exams online or in a proctored environment. This means talking with your instructors about what minimum technical requirements (software and hardware) will be required should your class move online or a student's personal needs dictate. This also includes making plans for internet access at whatever location participation may occur.

Virtual or in-person proctored exams, if your instructor should require them, may result in an additional cost to the student. Please discuss these details with your instructor or see the information provided here.

Face Coverings: Effective July 15, 2020, University System of Georgia institutions, including the University of West Georgia, will require all faculty, staff, students, and visitors to wear an appropriate face covering while inside campus facilities/buildings where six feet social distancing may not always be possible. Face covering use will be in addition to and is not a substitute for social distancing.

Face coverings are not required in campus outdoor settings where social distancing requirements are met. Anyone not using a face covering when required will be asked to wear one or must leave the area.

Reasonable accommodations may be made for those who are unable to wear a face covering for documented health reasons.

Student FAQs: For more information about UWG COVID-19 guidance for students visit the Student FAQ webpage

 

Additional Items

THIS SYLLABUS IS SUBJECT TO CHANGE. ALL CHANGES WILL BE ANNOUNCED ON COURSEDEN.