BUSN 6120: Managerial Economics

Course Description

The student examines the application of microeconomic theory as applied to the managers' responsibilities within the organization. This course should emphasize the quantitative and qualitative application of economic principles to business analysis.

Prerequisites

BUSN 5620 and BUSN 5760

Course Level Learning Outcomes

Outcome	Expectation
1. Students understand how market forces affect price and quantity.	Students can utilize basic supply and demand analysis (graphical and quantitative) to predict the likely impact of events on the price and quantity sold of any product.
2. Students understand elasticity and its relationship to pricing and revenue.	Students can both calculate elasticity and estimate elasticity empirically. Given the result the student can correct predict the effect of a given change in price on revenue.
3. Students can utilize statistical analysis to assess product demand conditions	Students can take provided data and correctly estimate a demand function, determine the statistical significance, calculate the product elasticities (price, cross, and income) and infer the implications of that information to market demand conditions. Students can also learn how to measure risk and uncertainty, and then incorporate these measures into their business decision making.
4. Students can utilize industry analysis to assess market position	Students can identify which of the four primary market structures most appropriately correlates to an industry. The student can draw inferences regarding firm behavior and performance. Students can identify the Oligopolistic model that best describes the behavior of an Oligopolistic industry. Students can use basic game theoretic analysis to describe the behavior of firms in an Oligopolistic industry. Students can also utilize Michael Porter’s Five-forces model to assess market potential and gain draw inference regarding firm behavior and potential performance.

Course Materials

Please go to MBS Direct to find the appropriate textbooks for this course.

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Course Activities

The course will be concluded entirely online. Students are expected to participate in all course activities as assigned by the instructor. Course activities may include discussions, weekly assignments, quizes, case studies, and learner assessments. However, individual instructors may incorporate other activities into the course materials.

Grading

The GRADUATE catalog provides these guidelines adn grading options:

A/A–	Superior graduate work
B+/B/B–	Satisfactory graduate work
C	Work that is barely adequate as graduate-level performance
CR	Work that is performed as satisfactory graduate work (B– or better). A grade of “CR” is reserved for courses designated by a department, involving internships, a thesis, practicums, or specified courses.
NC	Unsatisfactory graduate work *(School of Education only)*
F*	Work that is unsatisfactory *The School of Education (MAT, MA and EdS) does not utilize the “F” Grade.
I	Incomplete work
ZF	An incomplete which was not completed within one year of the end of the course. ZF is treated the same as an F or NC for all cases involving GPA, academic warning, probation, and dismissal.
IP	In progress
W	Withdrawn from the course

A student in the School of Education may choose to receive Credit/No Credit, rather than a letter grade, by completing a grade choice form by the second week of classes. Education students must complete 33 credit hours with a B average or the equivalent.

Grades are available on the Internet to all students at the end of each scheduled term. (A hard copy is available upon request and may be requested online via the Academic Services Channel within Connections.)

Policy Statements

University policies are provided in the current course catalog and course schedules. They are also available on the university website. This class is governed by the university’s published policies. The following policies are of particular interest:

Academic Honesty

The university is committed to high standards of academic honesty. Students will be held responsible for violations of these standards. Please refer to the university’s academic honesty policies for a definition of academic dishonesty and potential disciplinary actions associated with it.

Drops and Withdrawals

Please be aware that, should you choose to drop or withdraw from this course, the date on which you notify the university of your decision will determine the amount of tuition refund you receive. Please refer to the university policies on drops and withdrawals (published elsewhere) to find out what the deadlines are for dropping a course with a full refund and for withdrawing from a course with a partial refund.

Special Services

If you have registered as a student with a documented disability at the Academic Resource Center (ARC) and are entitled to classroom or testing accommodations, please verify with your instructor at the beginning of the class that the instructor has received your accommodations letter from the ARC. If you have a disability and need academic accommodations but have not been documented with the ARC, please contact Barbara Stewart at (314)-968-7495 or stewart@webster.edu . Contacting the ARC to complete ADA documentation is the only way to ensure you may receive reasonable accommodations.

Disturbances

Since every student is entitled to full participation in class without interruption, disruption of class by inconsiderate behavior is not acceptable. Students are expected to treat the instructor and other students with dignity and respect, especially in cases where a diversity of opinion arises. Students who engage in disruptive behavior are subject to disciplinary action, including removal from the course.

Student Assignments Retained

From time to time, student assignments or projects will be retained by The Department for the purpose of academic assessment. In every case, should the assignment or project be shared outside the academic Department, the student's name and all identifying information about that student will be redacted from the assignment or project.

Contact Hours for this Course

It is essential that all classes meet for the full instructional time as scheduled. A class cannot be shortened in length. If a class session is cancelled for any reason, it must be rescheduled.

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