Managerial Economic Answer

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W. Cris Lewis MANAGERIAL ECONOMICS (Economics 4010) Business 302A T-TH 12:00-1:15 pm (Business 209) clewis@econ.usu.edu (CRN #10732) Office Hours: T-Th 10:00 a.m.–11:30 a.m. and by appointment

Spring 2007

Text: H. Craig Petersen and W. Cris Lewis, Managerial Economics, 4th edition (New York: MacMillan) 1999 (Required) Workbook: H. Craig Petersen and W. Cris Lewis, Managerial Economics: Study Guide w/Software (New York: MacMillan) 1999 (Not required but useful and on reserve in the library). Course Overview: Chapters:

Homework Assignments—Problems:

1—Introduction to Managerial Economics (and Appendix) Chapter 1: 1–4; Appendix: 1–6, 14 2—Basic Training Chapter 2: 1–10; Appendix: 1–7 3—Demand Theory & Analysis (and Appendix) Chapter 3: 1–6, 8, 13, 15, 18 4—Regression Techniques and Demand Estimation Chapter 4: 1, 3, 5, 6, 7, 14, 15 5—Business and Economic Forecasting (skip pp. 165-170) Chapter 5: 2–7 6—Production Theory Chapter 6: 1–4, 6–9, 17, 22 7—Cost Theory Chapter 7: 1–4, 6–8, 21 8—Linear Programming Chapter 8: 1–6, 10, 11, 13, 16 9—Perfect Competition and Monopoly Chapter 9: 1–4, 6-9 10—Monopolistic Competition and Oligopoly (skip pp. 357-58) Chapter 10: 1–3, 5, 6, 12 12—Pricing of Goods and Services Chapter 12: 1–6, 9 14—Risk and Decision-Making Chapter 14: 1, 2, 4, 6, 7, 13, 15, 18 15—Capital Budgeting (pp. 497-516 only) Chapter 15: 1–4, 6–8, 13 NOTE: If a student has a disability that will likely require some accommodation by the instructor, the student must contact the instructor and document the disability through the Disability Resource Center, preferably during the first week of the course. Any requests for special considerations relating to attendance, pedagogy, taking of examinations, etc., must be discussed with and approved by the instructor. In cooperation with the Disability Resource Center, course materials can be provided in alternative formats, large print, audio, diskette, or Braille. TOOLS Software Program and Excel: We will be making use of the TOOLS software package that is available in computer laboratories 113-115 and 118120 in the basement of the business building and is included with the workbook. The program can be copied at no charge in the lab for use on your personal computer. Instructions for downloading the program in the laboratory are included with this syllabus. Instructions for use of the program are included in the software and in the workbook. It also can be downloaded from the Internet (at www.prenhall.com/petersen ). You should familiarize yourself with this program as soon as possible. (See pp. 5-6 of this syllabus for additional information.) We also will use Excel spreadsheets; it is assumed that you are familiar with and able to use this package. Wireless Classroom: All classrooms in the Business Building are now wireless. Students can buy a wireless card for their laptop computer from Computer Solutions. While this is a wonderful asset, there are a few students who play solitaire and browse the Internet during class; I will become very unpleasant if that occurs. On those occasions when we need the Internet, we will use the classroom computer, so leave your laptops at home. Homework, Examinations, and Grading Policy: Points will be assigned for homework assignments, and examinations as follows: Homework: Each homework assignment is worth 3 points. Assignments are due at the beginning of class on the date they are due; late assignments are not accepted. Possible total points = 13 assignments x 3 points = 39. This is equivalent to the points on almost one-half of an examination. Note: There are questions and problems at the end of each chapter in the text. The assignments refer to the problems. You are expected to provide clear, complete, legible solutions to the problems. Do not submit homework papers that simply have the final answers (most of which have already been provided to you). The difference between the solution and the “final answer” is discussed below:...
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