ࡱ> TVS w!bjbj BGxxK^ ^ 1118iTD1P('''''''$$*,H'"' (@"@"@"j8'@"'@"@"$#%5z1F$' (0P($,-H-#%-#%LM6@",-''(!P(-^ g: Department of Economic 91Ƶ Fall 2012 Shah Dabirian, Ph.D. Managerial Economics (Econ 329) Managerial Economics This course covers basic economic tools and techniques underlying effective decision making and planning. This course will focus on a solid understanding of the application of economic analysis tools to solve problems you will encounter as a manager in your professional life. Being able to conduct the necessary calculations to support business decisions is a highly noted administrative skill. This course will help you to acquire that skill. Student Learning Objectives: Understand and apply basic tools in business decision making Identify business objectives; profit maximization and cost minimization Apply sensitivity analyses in business decisions by using concept of elasticity Identify positive and normative methods of analysis. Derive and interpret the optimality conditions for the constrained optimization problems faced by consumers and producers. Identify the key factors affecting demand and supply Incorporate risk considerations as part of business optimal decision-making. Determine the efficiency implications of various forms of market structure. Project the economic consequences of business decisions or policy changes from the short run to the long run. Identify circumstances where markets may fail and forecast likely outcomes of such failures. Analyze government solutions to market failures. Prerequisites: Economics 110 and 111 and Mathematics 140 (or 150). Required Text: Managerial Economics by Samuelson, William F. and Mark, Stephen G. 2010 (6th Edition), Published by John Willey & Sons, Inc.: New York. Optional Text: Study Guide to Managerial Economics by Samuelson, William F. and Mark, Stephen G. 2010 (6th Edition). Office: Sage Hall # 2042 Ext. #8599 Email: shah.dabirian@csuci.edu Office hours: Mondays 4 to 6 P.M.--And by Appointment Homework Homework problems will be assigned regularly. The homework assignments count as 20 percent of the final class grade. Each assigned problem set will be worth 4 points and will be counted toward your final grade. These assignments are due in class on the day indicated. Late assignments would only receive 2 points (out of 4 points). Examinations There will be two mid-term exams given on Monday October 8 and November 19. The final exam will be given at the scheduled time (December 10). Mid-term and final exams contain multiple choice and problems. Equations required to do the problems are provided on the test or on the blackboard. Your grade will be based on your average score. Grading Semesters Grade Determination Grading Scale 50% Two mid-term exams 90 to 100% A 30% Final Exam 80 to 89% B 20% Homework 70 to 79% C 60 to 69% D 59% or Less F Incompletes and Late Withdrawal Incomplete grades will only be awarded under extraordinary circumstances. Not doing well in the course does not constitute an extraordinary circumstance. To avoid being assigned failing grades, students who decide not to complete the class must withdraw themselves from the class in accordance with the procedures described in the University catalog. Drop Policy According to University policy, non-attendance does not constitute withdrawal; to withdraw from this class you must file a drop form with the University. If you fail to attend this class, and you do not formally drop the class, a "WU" (unauthorized withdrawal), the equivalent of a failing grade, will be recorded. Academic Dishonesty University rules prohibit cheating, fabrication, facilitating the academic dishonesty of another student, and plagiarism. In accordance with the CSU Channel Islands policy on academic dishonesty, students in this course who submit the work of others as their own (plagiarize), cheat on tests and examinations, help other students cheat or plagiarize, or commit other acts of academic dishonesty will receive appropriate academic penalties, up to and including failing the course. Course Outline and Chapter Assignments I. Introduction: Economic Decision Making Chp. 1, Aug. 27 The Theory of the Firm and Profits September 3. Labor Day Holiday II. Review of Optimization Techniques Chp. 2, Sep. 10 Calculus of Optimization; (Average-Marginal/Incremental Appendix . Concepts in Decision Making, Incremental Analysis in Economics) III. Demand Analysis and Optimal Pricing Chp. 3, Sep. 17 (Demand and Supply Functions; Firm vs. Industry Demand and Supply, Market Equilibrium, Comparative Static) Consumer surplus Elasticity Concepts Price Elasticity and Optimal Pricing Policy Chp. 3, Sep. 24 Consumer Preferences and Demand IV. Demand Estimation and Forecasting Chp. 4 & 5, Oct. 1 The Identification Problem; Market experiment; Regression Analysis Consumer Survey) (Time series, Extrapolations, Econometric Models, and Market Survey) First Mid-Term Exam (Chp 1-4) October 8 V. Production Analysis Chp. 5, Oct. 15 (Production Functions, Law of Diminishing Returns, Optimal Input Combinations, Stages of Production, Efficiency, Return to Scale, Productivity Measurements) VI. Cost Analysis Chp. 6, Oct. 15 (Various Cost Concepts, Short-Run and Long-Run Costs, Cost Functions; Economies of Scale/Scope; Breakeven Analysis, Empirical Cost Estimation Techniques) VII. Competing within Markets Chp. 7-8, Oct.22 Perfect Competition, Monopoly, Monopolistic Competition Price/Output Decisions Performance and Strategy in Competitive Markets VIII. Oligopoly Chp. 9, Oct.29 (Price/Output Decisions and Competition) Concentrations and Prices Game Theory and Competitive Strategy Chp. 10, Nov. 5 (Price/Output Decisions under Oligopoly, Game Theory) Analyzing Payoff Tables October 12. Veterans Day Holiday Second Mid-Term Exam (Chp. 5-10) November 19 IX. Regulation, Public Goods, and Benefit and Cost Analysis Chp. 11, Nov.19 (Market Failure Due to Externalities and Monopolies) The Basics of Benefit and Cost Analysis X. Decision Making Under Uncertainty Chp. 12, Nov.26 Economic Risk and Uncertainty, Probability Concept, Expected Value and Decision Trees Utility Theory and Risk Analysis, Adjusting the Valuation Decision Making Applications Chp. 13, Dec. 3 Asymmetric Information Organizational Design Final Exam (Chp. 11-13) Dec. 10    page \* arabic1 %)*,-./Ccefh~ < = > ? n_QF9h7 h7 OJQJaJhfIhVWCJaJhfI@CJOJQJaJhfIhVWCJOJQJaJ hfIhfI@CJOJQJaJ hfIhVW@CJOJQJaJhCJOJQJh@CJOJQJhGOx5@CJOJQJh5CJOJQJhp5@CJOJQJhn5@CJOJQJhrc5@CJOJQJhb5@CJOJQJh5@CJOJQJ/gh}~> ? ^ _ 7 l * w ; & F1$gdgZ & F1$gdFD & F1$gd gdFD$p*$^p`a$gd7 $a$gdVW$*$a$? P Q Z ^ _ 7 k l U ^   paTHh@CJOJQJh5@CJOJQJh5>*@CJOJQJhFD5>*@CJOJQJhdVOJQJaJhgZhgZOJQJaJhgZOJQJaJhdVhgZOJQJaJhFDOJQJaJh OJQJaJhdVhFDOJQJaJhfIhFD5OJQJaJ"hfIhgZ5>*CJOJQJaJ"hfIhFD5>*CJOJQJaJ ()Alnprsu()*13<ܴܨܨܴ܌ܴ܌phohX@OJQJaJhc]N@CJH*OJQJhc]N5>*@CJOJQJh@CJH*OJQJhr0@CJOJQJhc]N@CJOJQJh5>*@CJOJQJh5@CJOJQJh@CJOJQJhGOx@CJOJQJhs@CJOJQJ) )*Oopklm!gdH;$p*$^p`a$$*$a$ p*$^p`p*$^p`gdX$p*$^p`a$$*$a$<=?NOUWX\ejkn}+ŵxi]Q]ixF;hH;hH;CJaJhH;hCJaJh'Xe@OJQJaJh%q|@OJQJaJh<2wha@OJQJaJh5@CJOJQJh5>*CϴXϴϴ<2whXOJQJaJhXhX5@CJOJQJhX5>*@CJOJQJh (@OJQJaJhohX@OJQJaJhohX5@OJQJaJ+?FMNOPT_örbRB5h7&Z5@CJOJQJh h5@CJOJQJh7&Zh5@CJOJQJh7&Zh@5@CJOJQJh7&Zha5@CJOJQJh7&Zh7&Z5@CJOJQJh&Bd@CJOJQJh@CJOJQJh~@CJOJQJh5@CJOJQJhH;hH;5CJaJhH;CJOJQJaJhH;hH;CJOJQJaJhH;hH;CJaJhH;hCJaJkmntu   !+-789Z[ƺƫƀƀtƀttƀtƀleZh?oh)OJQJ h?oh)h)CJaJhe?@CJOJQJh5@CJOJQJh5>*Cϴz<5>*@CJOJQJhGOx5>*@CJOJQJhH;@CJOJQJh@CJOJQJh7&Z5@CJOJQJh h 5@CJOJQJh h5@CJOJQJ#"9:Z[ "[$\$gd)"$[$\$a$gd) $*$a$gd)$a$gd)$a$gd)gd)gd) $*$`a$$*$a$)*gop=>m{Ĺzqjq[Qhjh7&Z5CJhJh7&Z@CJOJQJ h0.h7&Zh2h7&ZCJ h7&Zh7&Z h7&ZCJh7&Z5@CJOJQJh7&ZCJOJQJh7&Z@CJOJQJh<2wh)@OJQJaJh+h)OJQJ h<2wh)h<2wh)5h@$h)5CJaJh)h)@CJOJQJh)CJOJQJ hBh))*g+`opq*>}*$gd7&Z *$`gd7&Z $*$`a$gd7&Zgd7&Zgd7&Z$a$gd7&Zgd7&Z $*$a$gd7&Zgd7&Z $*$a$gd7&Z{|wxq:o!MQk #$(DEF& ߞߞߏ}n}hi;5@CJOJQJaJhi;@CJOJQJ hi;CJhDfdh7&Z@CJOJQJhZh7&Z5@CJOJQJ#hy)$h7&Z5@CJOJQJaJh7&Z5@CJOJQJaJh@D&h7&Z5@CJOJQJh7&Z5@CJOJQJh7&Z@CJOJQJ h7&Z5CJ*}0vx8pq9:n $*$`a$gd7&Z *$`gd7&Z*$gd7&Z $*$`a$gd7&Z!PkFGH- b  *$]^ `gd7&Z *$]gd7&Z $*$`a$gd7&Z$a$gdi; *$`gd7&Z*$gd7&Z& ) * , . a c e !!)!+!1!5!I!J!K!L!N!O!Y!Z![!\!^!_!a!b!٬yufuu\jh@UjhUhmHnHuh hCJ h.p!jh.p!Uhi;5@CJOJQJaJ#hy)$h7&Z5@CJOJQJaJh7&Z5@CJOJQJaJhDfdh7&Z@CJOJQJhX`h7&Z@CJOJQJh7&Z@CJOJQJh7&Z5@CJOJQJhi;5@CJOJQJ$ !)!*!+!K!M!N!P!Q!R!S!U!V!X!Y!Z![!]!^!_!`!$*$a$dd $*$`a$gd7&Z n*$]ngd7&Z *$]^ `gd7&Zb!p!q!r!s!u!v!w!h7&Z5@CJOJQJhh'Xe@mHnHujh@U h@`!t!u!v!w! $*$`a$gd7&Z H$@....()()))()()00P8$:pz<BP/ =!"#$% Dp^$ 666666666vvvvvvvvv66666686666666666666666666666666666666666666666666666666hH666666666666666666666666666666666666666666666666666666666666666662 0@P`p2( 0@P`p 0@P`p 0@P`p 0@P`p 0@P`p 0@P`p8XV~_HmH nH sH tH L`L Normal1$CJOJQJ_HhmH sH tH F@F  Heading 1$$*$@&a$5@N@N  Heading 2$$*$@&a$5@OJQJH@H  Heading 3 $*$@&5@OJQJP@P #) Heading 6 <@&5CJOJQJ\aJDA`D Default Paragraph FontViV  Table Normal :V 44 la (k (No List 4+@4  Endnote Text>*> Endnote ReferenceH*66  Footnote Text@&!@ Footnote ReferenceH*NN TOC 1) $ 0*$]^`0JJ TOC 2% $ 0*$]^`0JJ TOC 3% $ p0*$]^p`0JJ TOC 4% $ @ 0*$]^@ `0JJ TOC 5% $ 0*$]^`0BB TOC 6 $0*$^`0:: TOC 70*$^`0BB TOC 8 $0*$^`0BB TOC 9 $ 0*$^`0N N Index 1% $ `*$]^``N N Index 2% $ 0*$]^`0>.>  TOA Heading *$ $*"* Caption:/: _Equation Caption<B@< Body Text !$*$a$@^^@"^ ~ Normal (Web)"dd1$[$\$B*OJQJaJhphF1F )Heading 6 Char5CJ\aJhPK![Content_Types].xmlj0Eжr(΢Iw},-j4 wP-t#bΙ{UTU^hd}㨫)*1P' ^W0)T9<l#$yi};~@(Hu* Dנz/0ǰ $ X3aZ,D0j~3߶b~i>3\`?/[G\!-Rk.sԻ..a濭?PK!֧6 _rels/.relsj0 }Q%v/C/}(h"O = C?hv=Ʌ%[xp{۵_Pѣ<1H0ORBdJE4b$q_6LR7`0̞O,En7Lib/SeеPK!kytheme/theme/themeManager.xml M @}w7c(EbˮCAǠҟ7՛K Y, e.|,H,lxɴIsQ}#Ր ֵ+!,^$j=GW)E+& 8PK!Ptheme/theme/theme1.xmlYOo6w toc'vuر-MniP@I}úama[إ4:lЯGRX^6؊>$ !)O^rC$y@/yH*񄴽)޵߻UDb`}"qۋJחX^)I`nEp)liV[]1M<OP6r=zgbIguSebORD۫qu gZo~ٺlAplxpT0+[}`jzAV2Fi@qv֬5\|ʜ̭NleXdsjcs7f W+Ն7`g ȘJj|h(KD- dXiJ؇(x$( :;˹! I_TS 1?E??ZBΪmU/?~xY'y5g&΋/ɋ>GMGeD3Vq%'#q$8K)fw9:ĵ x}rxwr:\TZaG*y8IjbRc|XŻǿI u3KGnD1NIBs RuK>V.EL+M2#'fi ~V vl{u8zH *:(W☕ ~JTe\O*tHGHY}KNP*ݾ˦TѼ9/#A7qZ$*c?qUnwN%Oi4 =3ڗP 1Pm \\9Mؓ2aD];Yt\[x]}Wr|]g- eW )6-rCSj id DЇAΜIqbJ#x꺃 6k#ASh&ʌt(Q%p%m&]caSl=X\P1Mh9MVdDAaVB[݈fJíP|8 քAV^f Hn- "d>znNJ ة>b&2vKyϼD:,AGm\nziÙ.uχYC6OMf3or$5NHT[XF64T,ќM0E)`#5XY`פ;%1U٥m;R>QD DcpU'&LE/pm%]8firS4d 7y\`JnίI R3U~7+׸#m qBiDi*L69mY&iHE=(K&N!V.KeLDĕ{D vEꦚdeNƟe(MN9ߜR6&3(a/DUz<{ˊYȳV)9Z[4^n5!J?Q3eBoCM m<.vpIYfZY_p[=al-Y}Nc͙ŋ4vfavl'SA8|*u{-ߟ0%M07%<ҍPK! ѐ'theme/theme/_rels/themeManager.xml.relsM 0wooӺ&݈Э5 6?$Q ,.aic21h:qm@RN;d`o7gK(M&$R(.1r'JЊT8V"AȻHu}|$b{P8g/]QAsم(#L[PK-![Content_Types].xmlPK-!֧6 +_rels/.relsPK-!kytheme/theme/themeManager.xmlPK-!Ptheme/theme/theme1.xmlPK-! ѐ' theme/theme/_rels/themeManager.xml.relsPK] wwwF ? <+{& b!w!! } `!w! "!@  @ (    6?3"? 0(  B S  ?0*sgd%gdt%gd%gdt%gd4%/qx<tx?*urn:schemas-microsoft-com:office:smarttags stockticker>*urn:schemas-microsoft-com:office:smarttags PersonName9*urn:schemas-microsoft-com:office:smarttagsplace9*urn:schemas-microsoft-com:office:smarttagsState 0IKMNPQRSUVXY^_`xp *acKMNPQRSUVXY^_`x3333%)<=_7((U^ww?NF M N O T _ JKKMNNQRSTUVWXY^_`asx%)<=_7((U^ww?NF M N O T _ JKMNNQRSUVXY^_xTq ah8^8`OJQJo(hHh^`OJQJ^Jo(hHoh ^ `OJQJo(hHh ^ `OJQJo(hHhx^x`OJQJ^Jo(hHohH^H`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hHTq          Xq9 SB nh  iVWya` @N]b2k$-/! 7 .p!Sp!"#?$#$y)$=$@D&f' (+?-0.7.i1H6"75 7:7:C;H;i;z<>e? @(ALGfIa5JNc]NOQ?HQ1R[SHSXT6W7&Z7[5.\'^:^P`-brc&BdDfdRe'XegVh`mKo;nwGOxzx%q|27}U}~+~t~gL,CP_E@ftV)+Js& Y\ Fa=::,b; |FX*dVX!Xq&. %$|MrgZsr0eX`:mAJvpJ]YUbICWxbb@2j)| FDngv/8mZ@(KM@w@UnknownG*Ax Times New Roman5Symbol3. *Cx Arial_ TmsRmn 12ptTimes New Roman?= *Cx Courier New;WingdingsA BCambria Math")fg@rGǚ - -!)P2d??3q)PHX?6W2!xxMTSue_LieuDanai Oh+'0p   , 8 DPX`hMT Sue_Lieu Normal.dotmDanai6Microsoft Office Word@@:#@$DT@5z՜.+,0 hp  AQMD- ? MT Title  !"#%&'()*+-./0123456789:;<=>?@ABDEFGHIJLMNOPQRURoot Entry F)5zWData $1Table,-WordDocumentBGSummaryInformation(CDocumentSummaryInformation8KCompObjy  F'Microsoft Office Word 97-2003 Document MSWordDocWord.Document.89q