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Viewing: MBA 505 : Essential Economics for Managers

Last approved: Thu, 14 Apr 2016 08:22:01 GMT

Last edit: Wed, 23 Mar 2016 16:34:01 GMT

Catalog Pages referencing this course
Change Type
MBA (Business Administration)
505
024178
Dual-Level Course
No
Cross-listed Course
No
Essential Economics for Managers
Essential Econ Manag
Poole College of Management
Business Management (20BUS)
Term Offering
Fall, Spring and Summer
Offered Every Year
Fall 2016
Previously taught as Special Topics?
No
 
Course Delivery
Face-to-Face (On Campus)
Distance Education (DELTA)
Online (Internet)
Remote Location/Site Based
MBA classroom facility in RTP: 1 Park Drive, Suite 130, Durham, NC 27709
Grading Method
Graded/Audit
2
10
Contact Hours
(Per Week)
Component TypeContact Hours
Lecture3.0
Course Attribute(s)


If your course includes any of the following competencies, check all that apply.
University Competencies

Course Is Repeatable for Credit
No
 
 
Stephen Margolis
Professor of Economics
Full

Open when course_delivery = campus OR course_delivery = blended OR course_delivery = flip
Enrollment ComponentPer SemesterPer SectionMultiple Sections?Comments
Lecture8040YesN/A
Open when course_delivery = distance OR course_delivery = online OR course_delivery = remote
Delivery FormatPer SemesterPer SectionMultiple Sections?Comments
LEC8040YesN/A

Is the course required or an elective for a Curriculum?
Yes
SIS Program CodeProgram TitleRequired or Elective?
52.0201Master of Business AdministrationRequired
Survey of economic concepts applied to management decisions. Competition. Market power. The firm, production, and cost. Pricing practices. Output. Market success. Market failure. Restricted to MBA students.

The course is being changed from three to two credit hours as a part of a curriculum change for the MBA program.  The number of required credit hours is being reduced from 24 to 19, which will give students the opportunity to pursue advanced topics in more depth while still making sure that they have a solid command of the core concepts of management.  The following topics are being deleted from the three hour version of MBA 505: aggregate output, monetary economics, exchange rates.  


No

Is this a GEP Course?
GEP Categories

Humanities Open when gep_category = HUM
Each course in the Humanities category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

 
 

 
 

Mathematical Sciences Open when gep_category = MATH
Each course in the Mathematial Sciences category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

Natural Sciences Open when gep_category = NATSCI
Each course in the Natural Sciences category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

Social Sciences Open when gep_category = SOCSCI
Each course in the Social Sciences category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

 
 

 
 

Interdisciplinary Perspectives Open when gep_category = INTERDISC
Each course in the Interdisciplinary Perspectives category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Visual & Performing Arts Open when gep_category = VPA
Each course in the Visual and Performing Arts category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

 
 

 
 

Health and Exercise Studies Open when gep_category = HES
Each course in the Health and Exercise Studies category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

 
&
 

 
 

 
 

 
 

Global Knowledge Open when gep_category = GLOBAL
Each course in the Global Knowledge category of the General Education Program will provide instruction and guidance that help students to achieve objective #1 plus at least one of objectives 2, 3, and 4:
 
 

 
 

 
Please complete at least 1 of the following student objectives.
 

 
 

 
 

 
 

 
 

 
 

US Diversity Open when gep_category = USDIV
Each course in the US Diversity category of the General Education Program will provide instruction and guidance that help students to achieve at least 2 of the following objectives:
Please complete at least 2 of the following student objectives.
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Requisites and Scheduling
 
a. If seats are restricted, describe the restrictions being applied.
 

 
b. Is this restriction listed in the course catalog description for the course?
 

 
List all course pre-requisites, co-requisites, and restrictive statements (ex: Jr standing; Chemistry majors only). If none, state none.
 

 
List any discipline specific background or skills that a student is expected to have prior to taking this course. If none, state none. (ex: ability to analyze historical text; prepare a lesson plan)
 

Additional Information
Complete the following 3 questions or attach a syllabus that includes this information. If a 400-level or dual level course, a syllabus is required.
 
Title and author of any required text or publications.
 

 
Major topics to be covered and required readings including laboratory and studio topics.
 

 
List any required field trips, out of class activities, and/or guest speakers.
 

No new resources will be required as a result of the changes to the course.

MBA 505 provides students with analytical tools needed to understand economic forces so that they may make informed business decisions.  Many of these concepts are used in MBA courses in finance, marketing, operations, and strategy.  


Student Learning Outcomes


  1. Recognize and evaluate the economic forces that shape the external environment of firms and organizations.




  2. Apply micro economic analysis to day-to-day business decisions such as production and pricing.




  3. Conduct an economic analysis to make decisions in products, pricing, output.




  4. Cogently explain varying perspectives of the role of business in society  




  5. Sharpen the quantitative skills needed for business analysis.



  6. Critique public policies aimed at regulating business decisions, such as antitrust laws or pollution regulation.


Evaluation MethodWeighting/Points for EachDetails
Midterm30Individual
Final Exam35Individual
Written Assignment10Group
Participation10Individual
Project15Group
TopicTime Devoted to Each TopicActivity
Supply and demand, elasticity1 weekSee syllabus
Applications of supply and demand: tariffs and quotas, taxes, price controls1 weekSee syllabus
Productivity, incentives, and cost2 weeksSee syllabus
Perfect competition2 weeksSee syllabus
Monopoly and antitrust2 weeksSee syllabus
Pricing1 weekSee syllabus
Exams1 weekSee syllabus
mlnosbis 3/8/2016: Course revision. Fully approved by PCOM and MBA faculty (see recently approved MBA curriculum revision). No consultation required.

ghodge 3/21/2016 Ready for ABGS review.

ABGS Reviewer Comments:
-No suggestions.
Key: 6067