Download Mid Term Examination

MAGISTER PROGRAM IN MANAGEMENT
UNIVERSITY OF JAMBI GRADUATE PROGRAM
Course Syllabus
MSM 623, Managerial Economics
Lecturer
: Prof. Dr. Haryadi/ Dr. Junaidi
Credits
:3
Semester
: Even
Reading Text :
Baye, Michael R. (2013). Managerial Economics and Business Strategy. 8 th edition. Indiana
University – Bloomington.
Course Description
The objective of the course is to familiarize the student with Managerial economic methodology,
economic way of thinking and the essentials of economic phenomena. This course focuses on the
study of the choices that individuals and businesses make, how these choices interact in the markets
and the influence of government. Also how apply managerial economics in action.
Course Objectives
Participants will be expected to:
1. Know and be able to apply the methods and techniques for optimal decision making.
2. Know and be able to analyze the impact of microeconomic and macroeconomic variables
against the company’s activities.
3. Implement the concept and were be able to take business decisions under conditions of
uncertainty and risk in the future.
Course Approach
The course will involve lectures and discussion, plus exercises to gain practical experience with
the concepts and tools.
Learning Products
1. Required readings and class discussion
2. Weekly assignments
3. Case Study
4. Final Project
Evaluation Criteria
Classroom instruction will involve interactive lectures, individual and group participation in
problem-solving exercises and discussion of readings. The assignments (including the problem,
retirement plan, and final project) will account for 25% of the grade; attendance 10% and class
participation 10%, Mid Terms Exam 25% and Final Exam 30%.
Grading Policy:
The Adaptive Blended Learning course grades have following components:
1. In-class Participation
2. Online Adaptive Learning
3. Assignments
a. Concept related questions
b. Discussion board participation
The breakdown of the grades is given in the table below:
Grading Scheme:
10% - Attandance
10% - In Class Participation & Discussion
25% - Assignments
25% - Mid Term Exam
30% - Final Exam
COURSE OUTLINE
Week Number
Course Outline
1
Introduction: Terms- concepts
2
Definition of Microeconomics Versus Macroeconomics Managerial economics The Questions Economic addresses.
Factors of production – self interest and social interest-pricing
systems
3
Demand and supply
Demand definition – The law of Demand – Demand curve and
Demand schedule – A Change in quantity demanded versus
change in demand
4
Supply :
Supply definition _ the law of supply _ A change in quantity supplied
versus change in Supply
5
Demand estimation and forecasting
Market Equilibrium : Price as a regulator – Price Adjustments –
Predicting changes in price and quantity
6
Demand Elasticity
Price elasticity of demand
Calculating price elasticity of demand.
Inelastic and elastic demand.
7
Total revenue and elasticity
The factors that influence the elasticity of demand
8
Mid Term Examination
9
Theory of production
10
The firm Behavior:
Production:
11
12
13
14
15
16
Production function
Decision time frames – short run technology constraint – product
schedule and product curves. Law of diminishing returns
Cost: Marginal, Total , Average Cost
Theory of cost
Perfect competition
What is perfect competition: How perfect competition arises -Price
takers _ Economic profit and revenues – the firm decisions
Monopoly
The firm output decision: total revenue, total cost, and economic
profit –Marginal analysis and the supply decision- Temporary
shutdown decision- The firm supply curve.
The Role of government and opportunity for today managers.
Group Assignment Presentation
Final Examination