MBA 6053, Economics for Managers

Course Syllabus

Course Description
This course is an application of economic theory to managerial decision making. Topics include demand analysis and
estimation, analysis of cost and production, profit maximization under different market structures, optimal pricing,
application of game theory to oligopoly market, and decision making under uncertainty.

Course Textbook
Keat, P., Young, P., & Erfle, S. (2014). Managerial economics: Economic tools for todays decision makers. (7th ed.).
Upper Saddle River, NJ: Prentice Hall.

Course Learning Outcomes

Upon completion of this course, students should be able to:
1.
2.
3.
4.
5.
6.
7.
8.

Apply supply and demand models to determine market equilibrium.

Compare the different types of elasticity concepts to scenarios.
Interpret results using demand functions and regression models.
Determine profit maximizing price and output.
Evaluate pricing practices in imperfect competition.
Evaluate investment decisions to maximize value.
Discuss the implications of uncertainty on management decision making.
Apply game theory in pricing, output, and decisions in oligopoly market and calculate optimal output of multi-plant
firms.

Credits
Upon completion of this course, the students will earn three (3) hours of college credit.

Course Structure
1. Study Guide: Each unit contains a Study Guide that provides students with the learning outcomes, unit lesson,
required reading assignments, and supplemental resources.
2. Learning Outcomes: Each unit contains Learning Outcomes that specify the measurable skills and knowledge
students should gain upon completion of the unit.
3. Unit Lesson: Each unit contains a Unit Lesson, which discusses lesson material.
4. Reading Assignments: Each unit contains Reading Assignments from one or more chapters from the textbook.
5. Learning Activities (Non-Graded): These non-graded Learning Activities are provided to aid students in their
course of study. Chapter presentations are provided in each unit study guide as Suggested Reading to aid
students in their course of study.
6. Discussion Boards: Discussion Boards are part of all CSU term courses. More information and specifications
can be found in the Student Resources link listed in the Course Menu bar.
7. Unit Assessments: This course contains four Unit Assessments, one to be completed at the end of Units II, IV,
VI, and VIII. Assessments are composed of written-response questions.
8. Unit Assignments: Students are required to submit for grading Unit Assignments in Unit IV. Specific information
and instructions regarding these assignments are provided below. Grading rubrics are included with the
assignment. Specific information about accessing these rubrics is provided below.
9. Participation-Discussion Assignment: Those students who will be attending the classes taught by Vietnamese
professors are not required to answer the discussion board questions. Instead they will discuss the questions
MBA 6053, Economics for Managers

listed in the discussion board with their professors and peers during class participation sessions. Those students
who will not be attending the classes are required to e-mail the responses to the discussion board questions to
their CSU professor.
10. Final Exam: Final Exams will be administered by the CSU professors while in Vietnam.

CSU Online Library

There is a virtual library with resources, including both journals and ebooks, to support your program and your course at
Columbia Southern University. eResources are accessible 24 hours a day/7 days a week from the CSU Online Library
gateway page. To access the library, log into myCSU, and then click on CSU Online Library. Resources are organized in
the library by title, but if you click on Research Guides, you will find eResources arranged by subject.
The Library Reference service is available 7 days a week; you can reach CSUs virtual librarians by emailing
thevirtuallibrarian@columbiasouthern.edu. These professional librarians will be glad to help you develop your research
plan or to assist you in any way in finding relevant, appropriate, and timely information.
Librarian responses may occur within minutes or hours, but it will never take more than 24 hours for a librarian to send a
response to the email address you have provided. Replies to reference requests may include customized keyword search
strategies, links to videos, research guides, screen captures, attachments, a phone call, live screen sharing, and meeting
room appointments, as well as other forms of instruction.

Unit Assignments
Unit IV Assignment
Read the Demand Estimation for Mrs. Smyths Pies. Use the regression results provided and the data to complete A, B,
C, and D in the document. Save your work in the data Excel document and submit in Blackboard.
Click here to access the Demand Estimation for Mrs. Smyths Pies.
Click here to access the data tables.
Information about accessing the grading rubric for this assignment is provided below.

APA Guidelines
CSU requires that students use APA style for papers and projects. Therefore, the APA rules for formatting, quoting,
paraphrasing, citing, and listing of sources are to be followed. Students can find CSUs Citation Guide in the myCSU
Student Portal by clicking on the Citation Resources link in the Learning Resources area of the myCSU Student
Portal. This document includes examples and sample papers and provides information on how to contact the CSU
Success Center.

Grading Rubrics
This course utilizes analytic grading rubrics as tools for your professor in assigning grades for all learning activities. Each
rubric serves as a guide that communicates the expectations of the learning activity and describes the criteria for each
level of achievement. In addition, a rubric is a reference tool that lists evaluation criteria and can help you organize your
efforts to meet the requirements of that learning activity. It is imperative for you to familiarize yourself with these rubrics
because these are the primary tools your professor uses for assessing learning activities.
Rubric categories include: (1) Assessment (Written Response) and (2) Assignment. However, it is possible that not all of
the listed rubric types will be used in a single course (e.g., some courses may not have Assessments).
The Assessment (Written Response) rubric can be found embedded in a link within the directions for each Unit
Assessment. However, these rubrics will only be used when written-response questions appear within the Assessment.
Each Assignment type (e.g., article critique, case study, research paper) will have its own rubric. The Assignment rubrics
are built into Blackboard, allowing students to review them prior to beginning the Assignment and again once the
MBA 6053, Economics for Managers

Assignment has been scored. This rubric can be accessed via the Assignment link located within the unit where it is to be
submitted. Students may also access the rubric through the course menu by selecting Tools and then My Grades.
Again, it is vitally important for you to become familiar with these rubrics because their application to your
Assessments and Assignments is the method by which your instructor assigns all grades.

Grading
Unit IV Assignment
Unit Assessments (4 @ 14%)
Participation/Discussion
Final Exam
Total

= 15%
= 56%
= 14%
= 15%
= 100%

Course Schedule/Checklist (PLEASE PRINT)

The following pages contain a printable Course Schedule to assist you through this course. By following this schedule,
you will be assured that you will complete the course within the time allotted.

MBA 6053, Economics for Managers

MBA 6053, Economics for Managers

Course Schedule

By following this schedule, you will be assured that you will complete the course within the time allotted. Please keep this
schedule for reference as you progress through your course.
WEEK 1: 05/02/2016 05/08/2016
Read Professor's Profile - Email your professor and introduce yourself. Read over Course Syllabus.
WEEK 2: 05/09/2016 05/15/2016
Complete Unit I and Unit II and Submit Unit II Assessment.
Unit I

Managerial Economics and Goals of a Firm

Review:

Read:
Submit:

Unit Study Guide

Chapter 1: Introduction
Chapter 2: The Firm and Its Goals
Suggested Reading: See Study Guide
None

Notes/Goals:

Unit II
Review:
Read:
Submit:

Supply and Demand and Demand Elasticity

Unit Study Guide
Learning Activities (Non-Graded): See Study Guide
Chapter 3: Supply and Demand
Chapter 4: Demand Elasticity
Suggested Reading: See Study Guide
Assessment

Notes/Goals:

MBA 6053, Economics for Managers

MBA 6053, Economics for Managers

Course Schedule

WEEK 3: 05/16/2016 05/22/2016

Independent Studies
WEEK 4: 05/23/2016 05/29/2016
Complete Unit III and Unit IV and Submit Unit IV Assessment and Unit IV Assignment.
Unit III

Demand Estimation and Forecasting

Review:

Read:
Submit:
Notes/Goals:

Unit IV
Review:
Read:
Submit:

Unit Study Guide

Chapter 5: Demand Estimation and Forecasting
Suggested Reading: See Study Guide
None

Production and Cost

Unit Study Guide
Learning Activities (Non-Graded): See Study Guide
Chapter 6: The Theory and Estimation of Production
Chapter 7: The Theory and Estimation of Cost
Suggested Reading: See Study Guide
Assessment
Assignment

Notes/Goals:

MBA 6053, Economics for Managers

MBA 6053, Economics for Managers

Course Schedule

WEEK 5: 05/30/2016 06/05/2016

Independent Studies
WEEK 6: 06/06/2016 06/12/2016
Break Week - Use this week to complete any remaining assignments. Review Units I - VIII to prepare for Final Exam.
WEEK 7: 06/13/2016 06/19/2016
Complete Unit V and Unit VI and Submit Unit VI Assessment.
Unit V
Review:
Read:
Submit:
Notes/Goals:

Perfect Competition and Monopoly

Unit Study Guide
Learning Activities (Non-Graded): See Study Guide
Chapter 8: Pricing and Output Decisions: Perfect Competition and Monopoly
Suggested Reading: See Study Guide
None

Unit VI

Pricing and Output Decisions in Monopolistic Competition and Oligopoly

Review:

Read:
Submit:
Notes/Goals:

Unit Study Guide

Chapter 9: Pricing and Output Decisions: Monopolistic Competition and Oligopoly
Suggested Reading: See Study Guide
Assessment

MBA 6053, Economics for Managers

MBA 6053, Economics for Managers

Course Schedule

WEEK 8: 06/20/2016 06/26/2016

Independent Studies
WEEK 9: 06/27/2016 07/03/2016
Complete Unit VII and Unit VIII and Submit Unit VIII Assessment.
Unit VII

Special Pricing and Game Theory

Review:

Read:
Submit:
Notes/Goals:

Unit Study Guide

Chapter 10: Special Pricing Practices
Chapter 11: Game Theory and Asymmetric Information
Suggested Reading: See Study Guide
None

Unit VIII

Capital Budgeting and Risk

Review:

Read:
Submit:

Unit Study Guide

Chapter 12: Capital Budgeting and Risk
Suggested Reading: See Study Guide
Assessment

Notes/Goals:

MBA 6053, Economics for Managers

MBA 6053, Economics for Managers

Course Schedule

WEEK 10: 07/04/2016 07/10/2016

Independent Studies
WEEK 11: 07/11/2016 07/17/2016
Final Exam and Participation/Discussion.
Final Exam and Participation
Review:
Submit:

All Unit Study Guides and Assessments to prepare for Final Exam
Final Exam
Participation/Discussion

Notes/Goals:

WEEK 12: 07/18/2016 07/24/2016

Final Exam and Participation/Discussion.
Final Exam and Participation
Review:
Submit:

All Unit Study Guides and Assessments to prepare for Final Exam
Final Exam
Participation/Discussion

Notes/Goals:

MBA 6053, Economics for Managers