Faculty of Business Administration and Economics Summer 2018

Department of Economics

Course Code: ECN 333

Course Title: MANAGERIAL ECONOMICS
Number of NDU Credits: 3 credits
Pre-Requisite(s): ECN 211 and STA 206
Room Number:

Faculty member responsible for the course:

Dr. Mohamed Hamadeh, Professor - Economics
Office hours: M-F 7:30-8:00 and 11:00-11:30
Class time: M-F 9:30-11:00 Section: A
Email: mhamade@ndu.edu.lb

Course Description and Intended Learning Outcomes

This course provides students of business, economics, management and

marketing with systematic analytical tools to managerial economics. The
course is an integration of economic theory and methodology with the
analytical tools for application to decision-making about the allocation of
scarce resources in public and private institutions. Topics covered include:
risk analysis, theory of consumer choice, analysis of demand, production and
cost functions, forms of competition, pricing techniques, profits, game theory.

After the course, students should be able to:

Program goals (BBA) Course intended learning

outcomes
G1.2; G2.3 1- Employ optimization techniques and reasoning
for decision making at the microeconomic level
G1.2; G2.3 2- Use graphical, mathematical and numerical
techniques to calculate or explain economic
relations and individual's behavior
G1.2; G2.2; G2.3 3- Recommend objectively decisions under
concepts of risk and uncertainty
G1.2; G2.1; G2.3 4- Analyze the four basic market structures

Required Textbook

M. Baye; J. Prince, Managerial economics and business strategy, 8th edition,

McGraw-Hill (e-book access codes to be purchased from the bookstore).

Recommended books

1. D. Salvatore, MANAGERIAL ECONOMICS IN A GLOBAL ECONOMY: principles

and worldwide applications, 7TH edition.

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2. R. Brooker, STUDY GUIDE TO ACCOMPANY SALVATORE MANAGERIAL

ECONOMICS IN A GLOBAL ECONOMY, 6th edition, Oxford University Press

Learning strategies and contents of the course

Learning includes teaching-lectures and problem solving sessions.

Lectures are used to introduce the key concepts and theories, whereas
problem solving sessions are primarily activity based and provide an
opportunity to clarify and reinforce students’ understanding of the subject
and give them more practice in solving Managerial Economics problems.
The course consists of several topics given over 45 hours of face-to-face
lectures/problem solving.
Duration: one semester.

Chapter TOPICS
Appendix 2 of Differential calculus and optimization
01
chapter 2* techniques
1 Fundamentals of managerial economics 02
3 Quantitative demand analysis 03
13* Risk analysis 04
4 The theory of individual behaviour 05
5 The production process and costs 06
Managing in competitive, monopolistic, and
8 07
monopolistically competitive markets
Note: chapters followed by an asterisk are from the recommended book (Salvatore).

Assessment criteria and grading scheme

The assessment will call upon students to demonstrate:

 Thorough understanding of the acquired knowledge.

 Critical thinking and complex problem solving ability.

Assessments include:

 Two tests: 50% (the lowest grade accounts for 20% of the course
grade, the highest for 30%)
 Final Exam (comprehensive exam): 30%
 Attendance: 5%
 Participation/Attitude in class: 5%
 Homework: 10% (from the required e-book)

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Department of Economics

Quality Point
Grade Description Percentage Equivalent
Value
A+ Outstanding 4.0 97-100
A Excellent 4.0 93 - 96
A- Very Good 3.7 89 - 92
B+ Good 3.3 85 - 88
B Good 3.0 80 - 84
B- Good 2.7 77 - 79
C+ Satisfactory 2.3 73 - 76
C Satisfactory 2.0 70 - 72
C- Passing 1.7 66 - 69
D+ Passing 1.3 63 - 65
Lowest
D 1.0 60 - 62
Passing
F Failure 0.0 0 - 59
0.0
The grade “UW” is assigned by the
instructor when a registered student has
never attended a class or has ceased
Unofficial
UW attending and has not submitted an
Withdrawal
official course withdrawal request to the
Office of the Registrar. This grade is
computed as an F grade in the grade-
point average.

There are no make-ups for missed tests, Quizzes or for the final
examination. Failure to sit for a scheduled test and/or final exam will result
in an F on the test/exam.

A student may be excused in exceptional cases and upon the discretion of

the Accounting, Finance and Economics Department, and only if the student
presents a valid documented excuse (from the SAO in case of illness) to the
chairperson of the department within 72 hours of the scheduled exam date.

PS. The instructor reserves the right to change the frequency and dates of
any tests subject to adequate notice period.

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Department of Economics

Course learning materials

Recommended readings
P. Keat and P. Young, Managerial Economics: Economic Tools for Today’s
Decision Makers, 6th edition, Pearson Hall

K. K. Seo, Managerial Economics: Text, Problems and Short Cases, Irwin

James R. MgGuigan and R. Charles Moyer, Managerial Economics, 10th edition

Michel R. Baye, managerial Economics and Business Strategy, 4th edition

Supplementary readings
Hamadeh, M. and Khoueiri, R. (2010) Demand Elasticities for Higher
Education in the United States. International Journal of Business and
Economics Perspectives, Vol. 5 (2) p. 60.

Hamadeh, M. and Khoueiry, R.( 2012) Estimating the Demand for Tourism in
Lebanon. International Journal of Business and Economics Perspectives, 7(1),
pp. 117–126.

Hamadeh, M. and Khoueiry, R. (2012). Local Public Services and Residential

Real Estate Markets. International Journal of Business and Public
Administration, 9(1), pp. 149 – 157.

Lectures slides

Power point slides of the textbook are available on Blackboard/Connect

platform

Corporate connections
The course draws on corporate issues and addresses skills and techniques
required to be a successful decision maker

International dimensions
The course explores the effects of globalization on demand, competition and
pricing decisions

Social aspects
Ethical behaviour is emphasized in class and during tests throughout the
course

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Contribution of research
Readings will connect students to research related to different areas of
material covered in class.

Important class rules and academic misconduct

Notre Dame University – Louaize is committed to a policy of honesty in all its

operations, especially those pertaining to academic matters. Academic and/or
disciplinary penalties for misconduct in academic affairs are implemented
according to the policies and guidelines of NDU. It is the student's obligation
to be aware of his/her responsibilities. The following are extracts of NDU’s
policies regarding academic integrity:

Students are expected and encouraged to be honest and to maintain the

highest standards of academic integrity in their academic work and
assignments at the University. They shall refrain from any academic
dishonesty or misconduct including but not limited to:

 Plagiarism; that is, the presentation of someone else‘s ideas, words or

artistic, scientific, or technical work as one‘s own creation. Also,
paraphrasing, summarizing, as well as well as direct quotations are
considered as plagiarism, if the original source is not properly cited.
 Cheating.
 Assisting in cheating.
 Substituting a student in the taking of an examination.
 Substituting examination booklets.
 Submitting the same work for more than one course and the like.
 Submitting papers written by others.
 Receiving or providing unauthorized help or assistance in any academic
work or assignment.
 Intentional violation of program and degree requirements and regulation as
established by the University.
 Dishonest reporting of computational, statistical, experimental, research,
results, or the like.

Mobile phones should be turned off in class and in exams. Smart

phones cannot be used in lieu of a calculator.

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