January 2010

Oklahoma City University Course Name ECON5203 Jonathan Willner

Syllabus
Office: MSB 205G Phone: 208-5133 e-mail: jwillner@okcu.edu Office Hours: MW 9-11, TR 10-11:30, 1-2, stop by, call for an appointment Readings, etc..............................................................................................................................................................1 Course Objectives......................................................................................................................................................1 Grading & Assessment...............................................................................................................................................1 Discussions..............................................................................................................................................................2 Self-Help Quizzes...................................................................................................................................................2 Graded Quizzes.......................................................................................................................................................2 Mid-term and Final Exams.....................................................................................................................................2 Course Grade...........................................................................................................................................................2 Academic Honesty.....................................................................................................................................................3 Disability Concerns....................................................................................................................................................3 Schedule (subject to change at instructor discretion).................................................................................................3

Readings, etc.
Required: Managerial Economics & Business Strategy, 6/e, 2008-- Michael R. Baye, McGraw-Hill, 6th
ed. 2008

Course Objectives
Economic principles are at work at the economy-wide level (macroeconomics); at the inter-firm, intraindustry, and inter-industry levels (microeconomics); and at the intrafirm level (operations research/management science). This course is concerned primarily with the second of the above and, to some extent, with the last. Thus it provides an understanding of the more or less immediate environment of the firm and of some of the intrafirm decision problems and analytical concepts and methods that pertain to these problems. It studies the product markets under competitive and monopoly conditions, analysis of factor productivities, cost, pricing principles and practices, and problems of estimation of demand and cost. These subjects are treated primarily from the standpoint of managers in the private sector rather than that of the public agencies or the society as a whole. Sound decision making in a business context often relies on multi-step reasoning and dealing with quantitative data. This course provides several methods and structures that make it easier, when applied to make such sound decisions. Use of Models, Profits, Net Present Value, Marginal Analysis Demand, Supply, Equilibrium, Comparative Statics Elasticity, Demand and Revenue Probabilty, Regression Analysis and Interpretation Production, Productivity, Measuring Productivity, Cost Measurement Market Structure: perfect competition, monopoly, monopsony, monopolistic competetion Game Theory and Oligopoly

Grading & Assessment

In taking this course on-line you have agreed to all aspects of the OCU Student Handbook. The Handbook is available at: http://www.okcu.edu/Student%20Handbook%209.pdf.

Grades are based on timely delivery of assignments and the quality of those assignments and participation in discussions. You can always work ahead, which I recommend. It's going back in time that doesn't work. So much for the "Back to the Future" films.

Discussions
30 semester points. There will be at least 1 discussion per week. These will deal with applications of economic theory as it manifests itself in the popular press. With rare exception these articles will come for The Economist (http://www.economist.com). The first discussion is concerned with a photo and what we can and can't (?) learn from observation - be careful of how your experience influences first impressions. Each discussion is worth 3 points: 1 point for an initial contribution, 1 point for a response to a classmate's contribution and 1 point for the quality of those contributions. The quality issue is obviously my opinion of whether or not you used your intellect and economic understand to deal with the matter(s) presented. Discussion is closed after mid-night CST or CDT (depending on which Oklahoma is on at the time) Sunday during the week. The first week's discussions will close at midnight at the end of the first week.

Self-Help Quizzes
40 semester points. Each chapter has a multiple-choice quiz available at the textbook's on-line site: http://highered.mcgraw-hill.com/sites/0073375683/student_view0/index.html . You can take the quiz as many times as you'd like and change the answers as you see fit. When you are comfortable with the answers use the process on the site to submit your answers to me via e-mail. Make certain that you fill in all the appropriate boxes correctly. My e-mail address is: jwillner@okcu.edu Fill out your name as Last Name, First Name so that I can identify you properly. Each quiz is worth 5 semester points. Your grade on each quiz should be 5. However, in the event that you send me one with 12/15 correct answers your score will be (12/15)*5 = 4 so your score will be 4, etc. These must be e-mailed to me no later than midnight of the Sunday at the end of each week. Internet access can be unreliable and computers are profoundly stupid. Late work, for whatever reason, will be given a zero. If you are uncertain as to whether an assignment has been received, e-mail me. I'll let you know.

Graded Quizzes
70 semester points. There will be a graded quiz due at the end of each of 7 weeks; Mid-term and final exam weeks there will be no quiz, but there will an exam. Each graded quiz will be worth 10 semester points and will be due by mid-night of the Sunday at the end of each assigned week. You will only have 1 opportunity to take each of these quizzes.

Mid-term and Final Exams

50 +75 = 125 semester points. As with graded quizzes you will have only 1 opportunity to take these exams. The final exam is cumulative.

Course Grade
Your course grade is based on your cumulative total points received. There are 265 points possible in the course. 94% and up A 87-89.9% B+ 77-79.9% C+ 60-69.9% D 90-93.9% A84-86.7% 80-83.9% B B74-76.7% 70-73.9% C Cless than 60% F

Late assignments will be given a score of 0. Exceptions exist only for death of or serious hospitalization
of an immediate relative or you. Under all circumstances evidence of such event is required before any allowance will be considered. You might also find a paper on grandparents interesting. If you think economists are cynical read The Dead Grandmother.

Academic Honesty
Please, see the Student Handbook as regards Academic Honesty. You are expected to understand the contents of the Student Handbook. The Policy reads, in part, If, in the judgment of the faculty member, a student fails to conform to the academic honesty policy the faculty member shall inform, in writing, the students academic dean, the provost/VPAA and the student. (University Studies students are a part of the Petree College of Arts and Sciences). Sanctions for a students breach of the academic honesty policy vary according to the nature and the seriousness of the offense. Sanctions are at the discretion of the faculty member involved within the constraints of the course in which the offense occurred. Sanctions by the faculty member may include but are not limited to, requiring a student to redo a class/laboratory assignment; recording an F (Failure) for a particular test, examination, class/laboratory assignment which involved dishonesty; or recording an F (Failure) for a final course grade. In the unfortunate event that a student violates academic honesty in this course the student will receive a 0 for the assignment, in the first instance, and the above reporting policy will be followed. Any second occurrence will result in the student earning a grade of F for the course. Again the reporting policy will be followed.

Disability Concerns
If you need an accommodation due to a disability under the Americans with Disabilities Act, please contact Student Health and Disability Service Office immediately at 208-5991 or 208-5090. Advance notice is required for many accommodations

Schedule (subject to change at instructor discretion)

See the on-line schedule.