ࡱ>  @ (bjbjPP +:: BBBBtxB"jhDDDD EEEEiiiiiii$kRm~i3IEE3I3IiD EiKKK3I:D EiK3IiKKQ\|]DTD ؔ*BmI"\ud,i0"j\ZnIxZn$]]Zn]EF|KGdsGEEEii$ %DK %Managerial Economics, Spring 2010 Economics 329 Lecturer: Dr. Niklas Hunter Office: Sage Hall 2123 E-mail: niklas.hunter@csuci.edu Office hours: T 3:00-4:00pm, R 3:00 4:00pm Class time: Class location: T/R 4:30 5:45pm Bell Tower 2424 In-class exam 1: Thursday, 18 February (in class) In-class exam 2: Thursday, 18 March (in class) Final exam: Tuesday, 11 May, 4:00 6:00 pm Course website:  HYPERLINK "http://blackboard.csuci.edu" http://blackboard.csuci.edu Required text: Managerial Economics and Business Strategy by Michael R. Baye (7th edition, McGraw Hill, 2009) Grading system Your grade for the course is based on homework and exams in the following way: TaskPercent of gradeHomework assignments 15Exam 1 20Exam 2 20Final exam 45 Grades for total points from the homework and exams will be assigned according to the following distribution: 90%-100%: A+, A, A- 80%-89%: B+, B, B- 70%-79%: C+, C, C- 60%-69%: D+, D, D- 0%-59%: F I may also adjust the scores to account for the difficulty of the exams. For example, if few people get a final score above 90% because of difficult exams, then I will give out more As to account for difficultly of the exams. In this case, I typically assign a median (midpoint) grade of a B-/C+. Exams There will be no make-up exams, so if you can not attend class on the day of the in-class exams or you can not attend the final exam, please do not enroll in this course for a grade. You are welcome to take the course for a pass-fail grade. Exams will include multiple choice and short-answer questions focused on the lecture notes, textbook and homework. The final exam questions will be concentrated heavily on material covered after the second in-class exam, but will also include some earlier material. Homework assignments There are six homework assignments each equally weighted. Homework assignments will vary between i)multiple choice, ii) quantitative/short answer and iii)essay questions. These are designed to keep you from falling behind, and prepare you for the exams (as opposed to being busy work). Late homework will not be accepted. Some of the homework assignments will be turned in electronically via blackboard. However, several homework assignments must be handed in during the beginning of class on the date it is due. You may submit a homework assignment early, but never late. I will drop your lowest HW score. In other words, I will only count your best five homework scores. Class participation Regular class participation can help your grade if you are on the borderline between two grades. For example, if you are at the cutoff between a B+/A-, regular class participation would boost your grade to an A-. Course overview Managerial Economics is a blend of intermediate microeconomics, game theory, and industrial organization. This course builds on your introductory courses to further develop your economic intuition and apply more advanced tools of economics to increasingly complex situations. In particular, the course focuses on the application of economic rationale to a broad array of managerial situations. Ideally, you will leave this course understanding how and why economics is important, useful and relevant to everyday decisions in a wide variety of situations. Please note that we make extensive use of algebra and limited use of calculus (partial derivatives). If you are rusty in your math, now is the time to catch up. Learning objectives: At the end of this course, good students will be able 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, and conduct comparative static analyses of changes in demand and supply conditions. Incorporate risk considerations as part of optimal decision-making. Apply fundamental economic reasoning to real-world situations, and generate logically consistent arguments regarding economic efficiency. Distinguish and determine the efficiency implications of various forms of market structure. Identify circumstances where markets may fail and forecast likely outcomes of such failures. Analyze government solutions to market failures. Course Prerequisites: ECON 110, ECON 111 and MATH 140 (or 150). Economics is a social science. However, we use many quantitative methods in order to understand the choices people make. For ECON 329, a previous course in multivariate calculus is crucial. Understanding derivatives as rates of change in the physical sense, and as slopes in the graphical sense, is necessary in order to use many of the economic tools we develop. Although you do not need to review the most advanced chapters of your previous calculus textbook (i.e. integrals, differential equations, etc), at the very minimum, you must be able to understand and manipulate mathematical functions and take derivatives of functions. Specifically, you must be able to take the partial derivative of a bivariate function. I will spend part of the first lecture to help you review some of the more common functions and formulas we use throughout the course. Cheating Don't cheat. If I catch you looking at someone else's exam or at notes during an exam, you will receive an F for the exam. Any case of cheating will be referred to Judicial Affairs. Working with fellow students on homework assignments, however, is not cheating and is encouraged. Disability Accommodations Cal State Channel Islands is committed to equal educational opportunities for qualified students with disabilities in compliance with Section 504 of the Federal Rehabilitation Act of 1973 and the Americans with Disabilities Act (ADA) of 1990. The mission of Disability Accommodation Services is to assist students with disabilities to realize their academic and personal potential. Students with physical, learning, or other disabilities are encouraged to contact the Disability Accommodation Services office at (805) 437-8510 for personal assistance and accommodations. Mandatory Furloughs. The California State University system requires that nine days this semester be scheduled as mandatory furlough days (non-teaching). Given my selections, only one furlough day will interfere with our class meeting. I have designated Tuesday March 30th as a furlough day; consequently there will be no class meeting on Tuesday March 30th. However, my other eight furlough selection days will not interfere with any of our class meetings. DateLecture topicTextbook readingHW Due 19 Jan.Introduction, Calculus 21 Jan.The Fundamentals of Managerial EconomicsChapter 1 26 Jan. Market Forces: Demand and SupplyChapter 2 28 Jan.Market Forces: Demand and SupplyChapter 22 Feb.The Production Process and CostsChapter 5HW14 Feb.The Production Process and CostsChapter 5 9 Feb.The Production Process and CostsChapter 511 Feb.The Production Process and CostsChapter 5HW216 Feb.Review Session 18 Feb.Exam 1: Chapters 1,2,523 Feb.Competitive, Monopolistic, and Monopolistically Competitive MarketsChapter 825 Feb.Competitive, Monopolistic, and Monopolistically Competitive MarketsChapter 82 Mar.Competitive, Monopolistic, and Monopolistically Competitive MarketsChapter 8HW34 Mar.The Nature of IndustryChapter 79 Mar.Basic Oligopoly ModelsChapter 911 Mar.Basic Oligopoly ModelsChapter 9HW416 Mar.Review Session18 Mar.Exam 2: Chapters 7,8,91 Apr. Game Theory: Inside OligopolyChapter 106 Apr.Game Theory: Inside Oligopoly Chapter 108 Apr.Game Theory: Inside OligopolyChapter 1013 Apr.Pricing Strategies for Firms with Market PowerChapter 11HW515 Apr.Pricing Strategies for Firms with Market PowerChapter 1120 Apr.Pricing Strategies for Firms with Market PowerChapter 1122 Apr.Government in the Market PlaceChapter 1427 Apr.Government in the Market PlaceChapter 1429 Apr.Government in the Market PlaceChapter 14HW64 MayAntitrust PolicyPowerpoints Only6 MayReview Session11 MayFinal Exam 4:00-6:00pmThis schedule is subject to change at any time during the semester. !",/08;?LMNXafgpr~vk\M>Mh:phnBCJaJmHsHh:ph\>CJaJmHsHh:ph$CJaJmHsHhYh\>CJaJh{2CJaJh!y1CJaJh-Edh\>CJaJhzhGTCJaJmH sH hzhzCJaJmH sH hzh-EdCJaJmH sH hzh*xCJaJmH sH h-smCJaJhCcCJaJhSeCJaJhhACJaJh-Edh-EdCJaJh3CJaJ"0MNg- \ p7$]^p`gdp7$]^p`gdnBgd8\gd`gdhAgdkgd:p gdgdGTgd-Edgd6( ŽŽŭwod\hXd CJaJh8xhTCJaJh-smCJaJhk_CJaJh ahwCJaJh+CJaJh ahCcCJaJh`CJaJhdCJaJh-EdCJaJhCJaJhx\CJaJh-Edh-EdCJaJhXbCJaJhhACJaJh CJaJhpCJaJh CJaJh\>CJaJ#   ! 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