Course

Managerial Economics

Faculty
Commerce & Business Administration
Department
Economics
Course Code
ECON 2350
Credits
3.00
Semester Length
15 Weeks X 4 Hours per Week = 60 Hours
Max Class Size
35
Method(s) Of Instruction
Lecture
Seminar
Typically Offered
To be determined

Overview

Course Description
This course develops and applies economic theory and methods to business and administrative decision-making. Prospective managers will learn a set of operating rules that aid in the efficient utilization of scarce human and capital resources. To that end, optimization techniques are employed to determine appropriate courses of action for decision-makers and case studies are examined to apply economic analyses to practical situations.
Course Content
  1. Introduction to managerial economics
  2. Review of economic optimization using marginal analysis
  3. Demand analysis and estimation
  4. Production theory
  5. Technological change and industrial innovation
  6. Cost analysis and estimation
  7. Competitive markets
  8. Monopoly
  9. Imperfect competition and game theory
  10. Government and business
  11. Managerial economics:  Taking a global view
Learning Activities

Lectures and seminars which will be devoted to discussions of the major issues in monetary economics and the recent developments in the financial markets.

Means of Assessment
Final Examination 30% - 40%
Term Tests 40% - 70%
Assignments  0% - 20%
Participation  0% - 10%
Total         100%

THERE WILL BE A MINIMUM OF THREE (3) EVALUATIONS.

Students may conduct research as part of their coursework in this class. Instructors for the course are responsible for ensuring that student research projects comply with College policies on ethical conduct for research involving humans, which can require obtaining Informed Consent from participants and getting the approval of the Douglas College Research Ethics Board prior to conducting the research.

Learning Outcomes

At the end of the course, the student will be able to:

  1. utilize optimization techniques to determine appropriate courses of action for decision-makers in a managerial setting;
  2. apply demand theory to pricing problems and develop methods of analysis to estimate demand empirically;
  3. examine, within a theoretical and applied context, the process by which the costs of production are determined;
  4. develop a method of analysis which will enable the student to analyze the impact of market structure on the behaviour of firms;
Textbook Materials

Textbooks and Materials to be Purchased by Students

 

Will be chosen by the instructor from one of the following:

 

Hirschey, M. and J.L. Pappas.  Managerial Economics, Latest Ed.  The Dryden Press.

Mansfield, E.  Managerial Economics, Theory, Applications, and Cases, Latest Ed.  W.W. Norton & Company.

Nicholson, W.  Intermediate Microeconomics and its Application, Latest Ed.  The Dryden Press.

Samuelson, W.F. and S.G. Marks.  Managerial Economics, Latest Ed.  The Dryden Press.

Truett, L.J. and D.B. Truett.  Managerial Economics, Latest Ed.  South-Western Publishing Co.

Requisites

Prerequisites

ECON 1150 and ECON 1250 and MATH 1125

Corequisites

No corequisite courses.

Equivalencies

Courses listed here are equivalent to this course and cannot be taken for further credit:

  • No equivalency courses

Course Guidelines

Course Guidelines for previous years are viewable by selecting the version desired. If you took this course and do not see a listing for the starting semester / year of the course, consider the previous version as the applicable version.

(Current)

Course Transfers

These are for current course guidelines only. For a full list of archived courses please see https://www.bctransferguide.ca

Institution Transfer Details for ECON 2350
Acsenda School of Management (ASM) ASM ECON 3XX (3)
Alexander College (ALEX) ALEX ECON 295 (3)
Capilano University (CAPU) CAPU ECON 207 (3)
Coquitlam College (COQU) COQU ECON 250 (3)
Langara College (LANG) LANG ECON 2296 (3)
Simon Fraser University (SFU) SFU BUS 207 (3)
Thompson Rivers University (TRU) TRU ECON 3040 (3)
Trinity Western University (TWU) TWU ECON 2XX (3)
University of British Columbia - Okanagan (UBCO) UBCO ECON_O 204 (3)
University of British Columbia - Vancouver (UBCV) UBCV COMM_V 295 (3)
University of Northern BC (UNBC) UNBC ECON 2XX (3)
University of the Fraser Valley (UFV) UFV ECON 1XX (3)
University of Victoria (UVIC) UVIC ECON 205 (1.5)

Course Offerings

Summer 2024