Course Syllabus

GRBA 812 Managerial Economics

Spring A, 2019

Course Description

This is not an economics course for dummies.  It is an economics course for smart people who have little or no background in economics.  It is about the great ideas of economics and their applications to business.  As Charles Wheelan notes, “Economics should not be accessible only to the experts.  The ideas are too important and too interesting.”

Course Objectives

By the end of this course, you will be able to:

  1. demonstrate an understanding of economic theory in the areas of economic problem solving and decision making, consumer demand, demand elasticity, supply and demand decisions, international economics and foreign exchange rates, economic bubbles, complex pricing decisions, strategic game theory and bargaining, decisions under uncertainty, auctions, adverse selection and moral hazard;
  2. demonstrate the ability to apply these economic theories in a practical way to numerous business-oriented situations;
  3. synthesize and apply the course material to your current employment and work-related decisions.
  4. Integrate your human values with your economic values, philosophy and worldview.

Contact Information

Instructor

Professor:                   Dr. Geoffrey Friesen

Office:                         CoB 425N

Telephone:                 472-2334

FAX:                           472-5140

Email address:          gfriesen2@unl.edu

Canvas Information

Canvas is the where course content, grades, and communication will reside for this course.

Textbook & Reading Materials

Required:  Managerial Economics:  A Problem Solving Approach, 2014, 4th Edition, by Froeb et al.

Optional:  Naked Economics: Undressing the Dismal Science, 2010, by C. Wheelan

Video Materials

  • Required:  Professor Friesen's weekly videos related to course content.
  • Optional:  PBS videos on The Commanding Heights:  The Battle for the World Economy

Grading Policies

Late Work Policy

Late assignments will be penalized by 20% per day from the date of the deadline until the date the assignment is turned in. Therefore, work more than 5 days late will not receive any points.

Assignment Weighting

Your final grade will be determined by your performance on six homework assignments and two exams. The breakdown of the course grade is as follows:

  • 25% Midterm Exam
  • 25% Final Exam
  • 20% Weekly Homework Quizzes
  • 10% Tutorials
  • 15% Team Project
  • 5% Peer review of team projects
Class Grading Scale
Grade Range
A+ 100 % to 98.0%
A < 98.0 % to 92.0%
A- < 92.0 % to 90.0%
B+ < 90.0 % to 88.0%
B < 88.0 % to 82.0%
B- < 82.0 % to 80.0%
C+ < 80.0 % to 78.0%
C < 78.0 % to 72.0%
C- < 72.0 % to 70.0%
D+ < 70.0 % to 68.0%
D < 68.0 % to 62.0%
D- < 62.0 % to 58.0%
F < 58.0 % to 0.0%

Expectations and Requirements for Student Professionalism and Respectful Communication

This course will use several methods of communication. Canvas will be used for class discussions and for the submission of assignments.  There will be a weekly class meeting in “real time" conducted using Zoom.  This session will give you an opportunity to ask questions and interact with fellow students. Each session will be recorded in case you are not able to attend a session.

We are all adults, and should all act like it at all times.  It is absolutely OK to disagree with me or with one another, but my expectation is that all conversation and communication in this course be conducted in a respectful, civil and mature manner.  I believe that we can all learn things from one another, no matter how much we may disagree.  I also believe that all humans are created in the image and likeness of God, and have inherent dignity simply because of they are, and while I am not perfect, I will always strive to treat each of you with the dignity that you deserve.  While it is almost a cliche these days, my hope is that our interactions in this course will help each of us get a little closer to being the "best version of ourselves".

Course Outline Details

Week 1
How to think like an economist
Week 2
Benefits, costs and economic decision making
Week 3
Consumer demand and simple pricing strategies
Week 4
Supply and demand:  industries, foreign currencies and financial bubbles
Week 5
More realistic and complex pricing:  price discrimination
Week 6
Game theory and strategic bargaining
Week 7
Dealing with uncertainty and the economics of auctions
Week 8
The problems of adverse selection and moral hazard

 Course and University Policies

Accessibility Support

Students with disabilities are encouraged to contact me (the instructor or teaching assistant) for a confidential discussion of their individual needs for academic accommodation. This includes students with mental health disabilities like depression and anxiety. It is the policy of the University of Nebraska-Lincoln to provide individualized accommodations to students with documented disabilities that may affect their ability to fully participate in course activities or to meet course requirements. To receive accommodation services, students must be registered with the Services for Students with Disabilities (SSD) office, 232 Canfield Administration, 472-3787.

Academic Integrity

Per the UNL Student Code of Conduct: "The maintenance of academic honesty and integrity is a vital concern of the University community. Any student found guilty of academic dishonesty shall be subject to both academic and disciplinary sanctions."

  1. Academic dishonesty includes, but is not limited to, the following: Copying or attempting to copy from an academic test or examination of another student; using or attempting to use unauthorized materials, information, notes, study aids or other devices for an academic test, examination or exercise; engaging or attempting to engage the assistance of another individual in misrepresenting the academic performance of a student; communicating information in an unauthorized manner to another person for an academic test, examination or exercise; plagiarism; tampering with academic records and examinations; falsifying identity; aiding other students in academic dishonesty, and other behaviors in the student judicial code of conduct, Article III section B (stuafs.unl.edu/dos/code)
  2. The penalties for academic dishonesty will be severe, and may range from receiving a failing grade on the test or assignment, failing the course in which academic dishonesty took place, or the possibility of expulsion from the university. Faculty will report all cases of academic dishonesty to the Dean of Students at UNL, who will place a report in the student’s permanent file. A file of academic integrity violations will also be maintained by the College of Business.
  3. If you copy, or substantially copy, work from anyone else on a paper, the work must be put in quotes and the source(s) cited. Otherwise, it is plagiarism. If plagiarism or other forms of academic dishonesty are found on a group work assignment, it is possible that every member of the group will be punished. It is to your advantage to check out anything that does not seem like the work of your group members or colleagues. Written assignments are subject to verification using Turnitin for plagiarism.

Writing Support

The UNL Writing Center can provide you with meaningful support as you write for this class as well as for every course in which you enroll. Trained peer consultants are available to talk with you about all forms of communication, including lab reports, presentations, research papers, cover letters, and application essays. You can visit at any stage of the process, from brainstorming and organizing ideas through polishing a final draft.  The UNL Writing Center is located in 102 Andrews Hall, with evening hours in the Adele Hall Learning Commons and other satellite locations. You can schedule 25- and 50-minute appointments any time by visiting unl.mywconline.com. For more information about the Writing Center, including hours and other locations, please visit unl.edu/writing.

Course Summary:

Date Details Due