ECON 815 Economic Analysis for Business Spring 2022
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ECON 815
Economic Analysis for Business
Spring 2022
Class Attendance
We will hold classes in person at the designated times and class attendance is expected. I will live stream the class on Zoom to accommodate students that are unable to attend on a particular day. I plan to record each lecture and post recordings on Canvas.
Communication
All communication for this class will be done through K-State Online. You are expected to check your K-State Online messages to receive any communication associated with this class. I will generally respond to your questions through K-State Online messaging within 24 hours (usually much less) except on weekends.
Questions During Course
For any questions you have during the course, you are always welcome to talk with me before/after class or during office hours. You also have the option of asking the question on the discussion board for the class. This should be done in place of simply emailing me.
The way you should ask questions on the discussion board in this course is to:
1. Post the question on the discussion board.
2. If you have a question about a problem on a graded exercise, post the answers you have tried and how you got those answers. I do not know how to help if you do not post this information. Do not post things such as “I don’t understand #12, please help.”
3. If you do not get an answer to your question, POST IT AGAIN.
4. If you have not received a satisfactory answer after posting the question twice, then email me. You should receive a response within 24 hours.
I use this system for answering questions for a number of reasons. First, questions on the discussion board offers me insight into how the class is doing and what is giving students trouble. Second, it helps you all learn by answering others’ questions. Finally, by putting a question on the discussion board, the answer to it is there for all to see. If someone else has
the same question, they will be able to see the answer immediately on the discussion board rather than having to wait for me to answer it.
Course Description
Microeconomic and macroeconomic theory with selected business applications. Theory of consumer and producer behavior and price determination in individual markets. Theory of aggregate economic behavior and the effects of fiscal and monetary policies.
Course Objective
To acquire the ability to understand and discuss decision-making by businesses from an economic viewpoint.
Text
Managerial Economics: A Problem Solving Approach, 5th edition by Luke Froeb, Brian McCann, Mikhael Shor and Michael Ward
Grading
Grades will be assigned according to the below cutoffs. There is a chance that the course may be curved. If there is a curve, it will only help you. For example, if you earn a cumulative percentage of 90.0%, you will receive an “A” and there is no chance you will be curved down to a “B”.
Cutoffs
A – 90%
B – 80%
C – 70%
D – 60%
F – Below 60%
Components of Grade
Participation – 200 points
Graded Exercises – 200 points
Responses – 320 points
Quiz 1 – 70 points
Quiz 2 – 70 points
Quiz 3 – 70 points
Quiz 4 – 70 points
Total – 1000 points
THERE WILL BE NO OPPORTUNITIES FOR EXTRA CREDIT IN THIS CLASS. You will receive the grade you earn. If you are not performing at a level that is consistent with your desired grade, my suggestion would be to spend more time studying and be in frequent contact with your classmates on the discussion board and with me to discuss any material with which you are having trouble.
Participation
You are expected to participate in the class. Your Participation score will be based on your individual participation on the discussion board. The discussion threads that are graded each have points associated with them and will have a due date.
Graded Exercises
The graded exercises will consist of one graded exercise before each exam. Once a graded exercise is posted, you will have at least one week to complete it. There is also a Syllabus Review that will be a part of your Graded Exercises component.
The are NO extensions or makeups for graded exercises for ANY reason. This means ANY reason. You may submit the graded exercises as many times as you like.
Responses
I will give you prompts or questions for you to give a response. Most of these will be discussion threads where I will have you answer a question and then participate in the discussion surrounding that question.
Quizzes
Each quiz will be composed of multiple choice, math and/or essay response questions.
Quiz Dates
Quiz 1 – February 10
Quiz 2 – March 10
Quiz 3 – April 7
Quiz 4 – May 12
Quiz 1
Chapter 1 – Introduction: What This Book Is About
Chapter 2 – The One Lesson of Business
Chapter 3 – Benefits, Costs and Decisions
Chapter 4 – Extent (How Much) Decisions
Chapter 5 – Investment Decisions: Look Ahead and Reason Back
Quiz 2
Chapter 6 – Simple Pricing
Chapter 7 – Economies of Scale and Scope
Chapter 8 – Understanding Markets and Industry Changes
Chapter 9 – Market Structure and Long–Run Equilibrium
Chapter 10 – Strategy: The Quest to Keep Profit from Eroding
Chapter 11 – Foreign Exchange, Trade and Bubbles
Chapter 12 – More Realistic and Complex Pricing
Chapter 13 – Direct Price Discrimination
Chapter 14 – Indirect Price Discrimination
Chapter 15 – Strategic Games
Chapter 16 – Bargaining
Quiz 4
Chapter 17 – Making Decisions with Uncertainty
Chapter 18 – Auctions
Chapter 19 – The Problem of Adverse Selection
Chapter 20 – The Problem of Moral Hazard
Chapter 21 – Getting Employees to Work in the Firm’s Best Interests
Chapter 22 – Getting Divisions to Work in the Firm’s Best Interests
Chapter 23 – Managing Vertical Relationships
Quiz Policies
All quizzes will be taken online through Canvas. The quizzes will be open note and you are able to use any of the class resources. These resources include the textbook, notes, any class resources available through Canvas and the answer keys for the end of chapter questions. You may not use the internet except to access the resources above and you may not receive assistance from another person. If I believe you have had assistance from another person on the exam, had another person take the quiz for you, gotten a copy of the quiz before you take it or used the internet except as allowed, we will handle the situation according to the Academic Honesty statement below in the syllabus.
File Uploading
As a part of this class, you may need to be able to scan and upload files of your work. An example of this would be a question that asks you to draw a graph. You will need to draw the graph on unlined paper, then scan it, save it as a PDF file and then upload it to the question. There are two ways to “scan” the picture. One is to scan it with a scanner. That should be pretty self-explanatory. The other option is to take a picture of it (with a phone or digital camera). You can then upload the photo to your computer or you can email the picture to yourself and then download the photo. The photo should be in a JPEG format at this point. You can then open a new Microsoft Word document, insert the picture into the document and then save it as a PDF file, and then upload that file.
Academic Honesty
Kansas State University has an Honor System based on personal integrity, which is presumed to be sufficient assurance that, in academic matters, one's work is performed honestly and without unauthorized assistance. Undergraduate and graduate students, by registration, acknowledge the jurisdiction of the Honor System. The policies and procedures of the Honor System apply to all full and part-time students enrolled in undergraduate and graduate courses on-campus, off-campus, and via distance learning. The honor system website can be reached via the following URL: www.k-state.edu/honor. A component vital
to the Honor System is the inclusion of the Honor Pledge which applies to all assignments, examinations, or other course work undertaken by students. The Honor Pledge is implied, whether or not it is stated: "On my honor, as a student, I have neither given nor received unauthorized aid on this academic work." A grade of XF can result from a breach of academic honesty. The F indicates failure in the course; the X indicates the reason is an Honor Pledge violation.
Students With Disabilities
Students with disabilities who need classroom accommodations, access to technology, or information about emergency building/campus evacuation processes should contact the Student Access Center and/or their instructor. Services are available to students with a wide range of disabilities including, but not limited to, physical disabilities, medical conditions, learning disabilities, attention deficit disorder, depression, and anxiety. If you are a student enrolled in campus/online courses through the Manhattan or Olathe campuses, contact the Student Access Center at [email protected], 785-532-6441; for K-State Polytechnic
campus, contact Julie Rowe, Diversity, Inclusion and Access Coordinator, at [email protected] or call 785-826-2971.
Statement on Mutual Respect and Inclusion in K-State Teaching and Learning Spaces
At K-State, faculty and staff are committed to creating and maintaining an inclusive and supportive learning environment for students from diverse backgrounds and perspectives. K- State courses, labs, and other virtual and physical learning spaces promote equitable opportunity to learn, participate, contribute, and succeed, regardless of age, race, color, ethnicity, nationality, genetic information, ancestry, disability, socioeconomic status, military or veteran status, immigration status, Indigenous identity, gender identity, gender expression, sexuality, religion, culture, as well as other social identities.
Faculty and staff are committed to promoting equity and believe the success of an inclusive learning environment relies on the participation, support, and understanding of all students. Students are encouraged to share their views and lived experiences as they relate to the course or their course experience, while recognizing they are doing so in a learning environment in which all are expected to engage with respect to honor the rights, safety, and dignity of others in keeping with the K-State Principles of Community https://www.k- state.edu/about/values/community/.
If you feel uncomfortable because of comments or behavior encountered in this class, you may bring it to the attention of your instructor, advisors, and/or mentors. If you have questions about how to proceed with a confidential process to resolve concerns, please contact the Student Ombudsperson Office. Violations of the student code of conduct can be reported here https://www.k-state.edu/sga/judicial/student-code-of-conduct.html. If you
experience bias or discrimination, it can be reported here https://www.k-
state.edu/report/discrimination/.
All student activities in the University, including this course, are governed by the Student Judicial Conduct Code as outlined in the Student Governing Association By Laws, Article V, Section 3, number 2. Students who engage in behavior that disrupts the learning environment may be asked to leave the class.
Wearing of Face Coverings
All students are expected to comply with K-State’s face mask policy. As of August 2, 2021, everyone must wear face masks over their mouths and noses in all indoor spaces on university property, including while attending in-person classes. This policy is subject to change at the university’s discretion. For additional information and the latest on K-State’s face covering policy, see https://www.k-state.edu/covid-19/guidance/health/face- covering.html.
Links
K-State Media Development Center
Copyright Information For Students
Undergraduate Students’ Research Support
Global Campus Student Services
K-State Library Resources and Services
Career and Employment Services
Intellectual Property
Copyright 2022 (Kyle Ross) as to this syllabus and all lectures. During this course students are prohibited from selling notes to or being paid for taking notes by any person or commercial firm without the express written permission of the instructor teaching this course. All materials for this course are the intellectual property of the instructor of this course and may not be reproduced or distributed without the express written permission of the instructor teaching this course. In addition, students in this class are not authorized to provide class notes or other class-related materials to any other person or entity, other than sharing them directly with another student taking the class for purposes of studying, without
prior written permission from the professor teaching this course.
Any and all portions of this syllabus are subject to change.
2022-01-27