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Regent's College

Managerial Economics

BUSN6120  

CodeBUSN6120
SchoolWGS
DescriptionThe 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.
Module Level5
Module CodeBUSN6120
Webster CodeBUSN 6120
ClassEL|
AvailabilityDE|SA|
Available SummerN
Credits3
Contact Hours34
Course Length (wks)8
Learning Outcomes
Upon successful completion of this course, the student will be able to:
 
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.
Pre-RequisitesBUSN 5620 and BUSN 5760.
Course Conduct
Academic Honesty
The university is committed to high standards of academic honesty. Students will be held responsible for violations of these standards.
Attendance
Students are expected to attend ALL class sessions of EVERY course. In the case of unavoidable absence, the student must contact the instructor. The student is subject to appropriate academic penalty for incomplete or unacceptable makeup work, or for excessive or unexcused absences. Generally, a student who misses more than one four-hour course period (per course) without a documented excuse (such as illness) and advanced permission from the instructor should withdraw from the class.
This means:
You may not miss the first 2 weeks of any class and expect to continue in that class. If you have begun a class, and subsequently have 2 absences, we will call you in and you may be asked to withdraw. Your student visa status may be affected.
Weekly ScheduleFull syllabus provided during the first lecture.