Course Syllabus: ECO 600 Advanced Managerial Economics Header (Course Information)

COURSE SYLLABUS
ECO 600
ADVANCED MANAGERIAL ECONOMICS
Header (Course Information)

Instructor Walid Akar Teaching English
language
Office hours Upon appointment Prerequisite ECO 500
Email Walid.akar@prof.uls.edu.lb No. of credits 3
Schedule Wednesdays 6:30-9:29 Course type Lecture
Term Spring 2020-2021 Assistant N/A
Department mission
The Faculty of Business Administration and Finance (FBAF) actively thrives to provide excellence in innovative
higher education, without discrimination and based on moral and humanitarian values in harmony with the
various market spaces and dimensions to produce ethical, analytical, communicative, knowledgeable
entrepreneurs to lead our future.
Course description and objectives

This course is concerned with the application of economic principles to key management decisions within
organizations. This course presents advanced microeconomic theory and statistical concepts that will help in
solving problems in the allocation of resources and strategic decisions that are made by managers. Topics include
consumer behavior and rational choice, estimating demand and cost functions, business and economic
forecasting, and market structures including perfect competition, monopoly, oligopoly, and monopolistic
competition as well as capital budgeting and risk.
ECO 600 Page 1 of 5

Course topics & student learning outcomes
Upon completion of the course, students will be able to explain and develop skills in:
 LO1: Explain the role of economic theory in managerial economics

 LO2: Use demand estimation to forecast demand trends and change
 LO3: Apply production theory to manage production
 LO4: Use cost theory to establish short and long run behavior
 LO5: Apply output decisions in perfect competition, monopoly, oligopoly, and monopolistic competition
 LO6: Use pricing strategies to enable organizational coherence
 LO7: Use game theory to decide on strategies
 LO8: Apply linear regression techniques to problems that are of interest to managers of a firm
 LO9: Apply capital budgeting and risk analysis
Teaching methodology
1. Learning to know
Students will be exposed to the role and importance of managerial economics in the modern world.
2. Learning to do
Students will be familiarized with the process of analyzing economic data related to the world of
business.
3. Learning to transform oneself and society

Integrate economic data in real life situations by studying real life implications. Develop the
awareness of critical issues faced by the modern world.
4. Learning to be
The course will help students discover how managerial economics will affect their business decision.
5. Learning to work together

Students will be able to effectively work as a member of a group or team and appropriately respond
to situations by examining the relationship between self, community, and environments, evaluating
potential impacts and consequences of actions, and making ethical choices and contributions based
on that examination and evaluation.
Course material
 Keat, P. G. (2006). Managerial Economics: Economic Tools for Today's Decision Makers, 5/e.
Pearson Education India.
 Websites (use the Companion Website of this book)
Suggested readings
 Students will be assigned refereed journals to read articles from, and make use of online academic
databases such as JSTOR.
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Weekly distribution of course content (over 15 weeks)
Learning
Wee Activities/
Title of Content Objective
k Resources
Code
The economics of a business: the firm & its goals Chapter 3
1-2 LO1/LO2
Demand elasticity: the economic concept, application Chapter 4
3 Demand estimation: regression analysis Chapter 5 LO2
Demand estimation: forecasting techniques
4 Chapter 5 LO2
Test 1
Theory & estimation of production: short-run analysis, long-run
5 production function Chapter 6 LO3
Theory & estimation of production: various forms of production

6 functions, Cobb-Douglas Chapter 6 LO3
Test 2
7 Problem Solving
Theory & estimation of cost: cost in economic analysis, short-run cost
8 Chapter 7 LO4
function
Theory & estimation of cost: long-run cost function, learning curve
9 Chapter 7 LO4
Test 3
Chapter 8
10 Pricing & output decisions: perfect competition LO5
11 Pricing & output decisions: monopoly Chapter 8 LO6
12 Pricing & output decisions: monopolistic competition & oligopoly Chapter 9 LO6
13 Special pricing practices & game theory
Chapters 10, 11 LO7
14 Capital budgeting & risk Chapter 12 LO8/LO9
15 FINAL EXAM
Course expectations & grading
 Quizzes / Case Studies: 60%

 Final exam: 40%
No makeup exams will be given. Assignments (including case studies and PowerPoint presentations) that are
not handed in on time will receive a grade of “0.” It is the student’s responsibility to submit the assigned
homework on time.
Students are expected to attend all of the scheduled sessions, and always be on time. Class attendance will be
taken every session. Students who miss classes for valid and non-valid reasons are responsible for the material
they missed.
Assignments & readings

Case studies to be specified by each instructor.
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Key dates
Date Activity
 Week 4  Test 1
 Week 15  Final Exams
Academic information
Academic information
1- Incomplete :« I »
Based on the professor’s recommendation and after the Dean’s approval, an incomplete grade « I » is granted
to students who, due to exceptional reasons, were unable to complete their academic course requirements or
were absent to the Midterm or Final exams.
2- Withdrawal from a course :« W »
When the student feels that his/her grades will lead to the failure of the course, and in order not to affect
his/her GPA, the student can withdraw from the course. The withdrawal date usually falls in the 10th week
after the beginning of the semester. (Check the Academic Calendar)
 Any absence in exams will not lead to a withdrawal from the course.
 Students cannot withdraw from Intensive courses.
 In case of withdrawal, a “w” will be put on the transcript.
 Withdrawn courses have to be paid in full.
3- Administrative Withdrawal : « AW »
Your presence is mandatory in all courses. Any absence, even if justified, has to be made up for; and students
are responsible for all the material that is covered in class during their absence.
Students are allowed to be absent for periods that are equivalent to a maximum of 3 weeks of teaching (9
hours for a 3 credit course). Any student that exceeds these hours of absence will not be allowed to sit for
his/her final exam.
Any student who, for whatever reason, is absent from his/her courses for 3 consecutive weeks will not be
allowed to pursue his/her studies during the current semester. He/she can ask to be readmitted to continue
his/her studies at the Faculty the following semester upon the approval of the Dean.
Grading System
Refer to Rules and Regulations of the University
Grades Without Numerical Values

Grade Meaning
I Incomplete
W Withdrawal
Administrative
AW
Withdrawal
P Passing the Course
R Course to be
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Repeated
IP In Progress
T Transfer
U Auditor
Course passing grade: C (some courses may require a higher passing grade).
Overall program passing GPA (Graduate): 3.0/4
Ethics
Students are expected to conform to Sagesse University regulations about ethical conduct. Plagiarism and
cheating (including copy/paste from the internet) will not be tolerated. Any student who is caught cheating will
receive a grade of “0” on the test or activity. Students are responsible for promoting honesty by opposing
plagiarism and cheating and reporting dishonest work.
There are several forms of inappropriate behavior in the classroom. For instance, a student may not sleep in
class; or have extended private conversations in class; and get up and leave the class without permission from
the professor. Mobile phones and other handheld devices should be turned off during class time and exams.
Turnitin is a search engine that allows professors to detect plagiarism. Therefore, make sure that the material
that you present is your own work and not copied and pasted from other sources. Any plagiarized material will
be sanctioned.
Any student who is in need of special accommodation because of disability reasons must inform the instructor
at the start of the semester in order to mutually develop an accessibility plan.
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COURSE SYLLABUS

ADVANCED MANAGERIAL ECONOMICS

Header (Course Information)

Course description and objectives

ECO 600 Page 1 of 5

 LO1: Explain the role of economic theory in managerial economics

3. Learning to transform oneself and society

5. Learning to work together

ECO 600 Page 2 of 5

Theory & estimation of production: various forms of production

11 Pricing & output decisions: monopoly Chapter 8 LO6

14 Capital budgeting & risk Chapter 12 LO8/LO9

Course expectations & grading

 Quizzes / Case Studies: 60%

Assignments & readings

3- Administrative Withdrawal : « AW »

Grades Without Numerical Values

ECO 600 Page 5 of 5

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