THIS COURSE OUTLINE IS INTENDED
AS A GENERAL GUIDE AND IS SUBJECT TO CHANGE.
Dr. Jarrell ECON 607 Office: 319E Forsyth
Managerial Economics
Fall 1999
http://www3.wcu.edu/~jarrell/index.html
1. Objectives: Upon completion of this course you should be
prepared to:
1 Analyze individual, firm, and societal decisions
from an economic framework and apply economic principles in their solution.
2 Design, estimate,
and evaluate a model, then communicate the process, result, and its usefulness
in a technical and nontechnical manner.
3 Analyze situations
where the theory of demand, production, cost, and pricing apply to practical
business situations.
4 Employ a higher level
of analytic and quantitative skills in problem solving and decision making.
2. Background:
In order to make satisfactory progress toward these
objectives, you will use algebra, statistics, and principles of microeconomics.
We will advance beyond most undergraduate introductory courses in all three
areas during this course. If you have not experienced these subjects
recently or if you feel weak in any area, review on your part is necessary
right away.
3. Total Possible Points, 300:
· One
(1) one hour test worth 100 points
·
A series of special assignments (not weighted equally) worth a total of
100 points
·
A mandatory, 100-point, comprehensive final exam
Conditions:
· There
will be no credit for make-ups or late papers
· If
you score higher on the final exam than on your regular test, I will substitute
the final score for the lower score.
· See
General
Rules for all Assignments for guidelines and requirements for materials
presented to me for evaluation.
Generally, I report the final grade that you earn;
however, my impressions of outstanding accomplishments in your work and
your contributions to making the class an interesting and valuable experience
for everyone, not personal pleas, may persuade me to raise a final grade.
On the other hand, a lack of such performance may induce me to lower a
final grade. Absences and lateness may be considered as well. I reserve
the right to make these subjective judgments.
4. Partnerships:
I will form partnerships for you at various times.
Generally, partners will produce a single output and receive identical
scores. However, each partner should be prepared at any time to demonstrate
his/her contribution to the output and a thorough knowledge of all components
of the output and production process. Failure to do so will differentiate
individual scores.
5. Writing Competency:
Any written communication on your part must consist
of a clear expression of ideas. This means the writing must be logically
consistent, unambiguous, grammatically correct, legible, and proofed.
As graduate business students, I expect that you are already competent
communicators in the English language. I encourage you to consider reading
assignments for each other before you give them to me.
6. Class Preparation:
You should prepare for class by reading ahead.
Chapter problems should be worked by the class following the discussion
of the chapter. See Homework
Assignment web page for specifics.
7. Computer:
You will need Excel (or another appropriate statistical
software) as well as E-mail.
You will need your student VAX account information
supplied by the university before our next class. The computer center provides
instructions for getting on and off the VAX. You should practice before
our next class if you are unfamiliar with this process. You can contact
me at Jarrell@wcu.edu. I will post information that will alert and help
you to prepare and progress during the term. You will find these under
Signpost
or News on the Managerial Economics menu page.
You can learn basics of using Excel on your own using
the CBT for Excel in WCU's WIN system. You do not have to be an expert
with E-mail or Excel right away, just bring your questions to class.
8. Text:
Managerial Economics: Economic Tools for Today'sDecision
Makers, by Keat and Young, Prentice-Hall, 2nd edition, 1996.
9. Office Hours: Forsyth 319E Monday: 3:30-5:30
Tuesday & Thursday: 9:00-11:00
I always try to be in my office or nearby at the
above hours (check with the secretary if you don=t find me). I will make
appointments at other times and you are welcome to drop by my office at
other times when I'm in. Always knock when you find my door closed.
(828) 227-3294 email: Jarrell@wcu.edu
10. Final Exam: Comprehensive.
Monday, Dec. 13, 6:00-8:30
11. Special Thursday: Our class will meet
on Thursday, Nov. 4.
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