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     Welcome to BA 445 Managerial Economics Fall 2014






Managerial economics blends intermediate microeconomics, game theory, and industrial organization to help managers make profitable strategic decisions.  Microeconomics helps when strategies do not interact among firms and customers and workers.  Game theory and industrial organization help when strategies do interact, either among firms or between a firm and its customers or workers, so participants respond to what others do, or to what each thinks the others might do.




Contact Information





CCB 340: Monday and Thursday, 12-1:30 and 2-3:30.  (You may attend either section but must take exams in your enrolled section.)






CCB 351: Monday 10:20 – 11:50, Wed. 2:50-3:50, Thursday 10:20 – 11:50, and by appointment.  (Starting the first week of class, and ending the last week of class.)












Homework Grader


Most of your homework assignments will be graded by a student grader, who has the job because they mastered the course in a previous semester.  You should print out and hand in your homework assignments on the due date, but if you are unable to hand in a print out, Email your homework directly to the homework grader.






This course requires you to be fully admitted as a major within the business division.  That includes successful completion of the following courses:

· BA 210. Introduction to Microeconomics.

· BA 216. Statistical Analysis for Business. 

· MATH 140.  Calculus for Business and Economics.

· MATH 141.  Probability and Linear Algebra.

· BA 212.  Computer Science for Business.

Tip: Your mastery of BA 445 depends on your mastery of those prerequisite courses, so review as needed.




Overview and Pepperdine’s Mission


Although textbook applications of managerial economics minimize cost as a step to maximize profit (revenue minus cost), we develop other applications of minimizing cost to help non-profit businesses (like charities) make the most of their resources.   Making charities more effective is one service included in Pepperdine’s mission to “strengthen lives for purpose, service, and leadership”.




Tips for Better Learning and Grades


· Take advantage of my expertise in microeconomics and game theory by asking questions beyond those covered in the class PowerPoint presentations.

· Work through the PowerPoint presentations (and the textbook if you choose to buy one), rather than just read them like a novel. That means making outlines, defining key terms and formulas in words that you will remember, working through the questions, and completing the homework assignments.

· Attend all class meetings on time, and bring your laptop, and a calculator.

· See me during my office hours if you need help, or before or after class.

· Email the homework grader directly and resubmit homework if you think there was a grading error.




Grade Expectations


Study Guide


The course is 3 credit hours, meaning a student with typical quantitative ability and background should expect to spend 3 hours every week studying outside of class to earn a C; 6 hours to earn a B; and 9 hours to earn an A.  Follow the study guide to direct your study hours.




If you are not achieving expected results, ...


See me if you are not earning the appropriate grade given your study hours. 

Hint:  Cramming 9 hours before an exam may produce worse results than studying 3 hours in each of the 3 weeks before the exam.  Cramming may make you familiar with problems, but you are likely to forget some important details in your answers.




Course Contract


This course help managers make decisions even when their customers and employees may be tempted to do wrong.  I follow the most of the faculty in the business division and administer this course recognizing that students may be tempted.  Specifically, you may only take the course if you agree to the following:

· I agree to abide by the ethical standards of Seaver College.

· I agree that while taking an exam, I will have on my possession only pens or pencils and a simple non-graphing, non-programmable, non-text calculator.  I will place any other possessions (including phones, computers, or papers) in the designated corner of the room.

· I agree that if I possess any prohibited item (including phones, computers, or papers) during an exam (even if I don’t use them but keep them in my pocket), then I earn a zero on this exam and will be reported to the Academic Integrity Committee for further action.




Expected Conduct


This course should help you find work.  To practice being a good worker, treat me as your boss and conduct yourself as follows:

· Read this course syllabus to learn essential information, including my office hours, exam dates, and homework due dates.  (Do not ask in class about this information.)

· Follow the study guide to direct your study hours.  (Do not ask me what’s on the test to try to direct your study hours.)

· Do not schedule a vacation or outside employment to conflict with an exam.

· Arrive a few minutes early to each exam, and bring pens or pencils and a simple non-graphing, non-programmable, non-text calculator.  (Do not show up late or ask to borrow a pencil or a calculator.)

· Do not ask to be excused from an exam except for one of the reasons listed in the assessment section.  (Feeling bad is only an excuse if you have a signed doctor’s note saying that you are unable to attend the exam.)