SV351, Managerial Economics
EMGT531, Economics for Technical Managers
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Rose-Hulman
Institute of Technology / Department of Humanities & Social Sciences /
K. Christ SV351, Managerial Economics EMGT531, Economics for Technical Managers |
SV351, Managerial economics is chiefly concerned with the application of economic tools of analysis to business management. SV351 is a self and society elective, and is a requirement for the Management Studies Certificate. SV151, Principles of Economics (or its equivalent) is a prerequisite. The course also assumes a basic understanding of fundamental statistical concepts, as well as some familiarity with business and financial terminology. Click here for the Fall 2011 syllabus.
EMGT531, Economics for Technical Managers is the graduate version of the course. Click here for the Fall 2011 syllabus.
Schedule for Fall 2011
| Date | Lecture | TTopics | Readings |
| R, 9/1 | 1.1 | Economic, normal and "abnormal" profits | Hirschey, chapters 1 (3 - 5, 9 - 13, 16 - end) and 2 |
| F, 9/2 | 1.2 | Value maximization | Hirschey, chapter 2, including appendices |
| M, 9/5 | 1.3 | Analysis of market situations | |
| T, 9/6 | 1.4 | Interpretation of accounting information | Hirschey, chapter 11 (432 - 434) |
| R, 9/8 | IN-CLASS LAB 1: Rates of Return | ||
| F, 9/9 | 1.5 | Production theory | Hirschey, chapter 7 |
| M, 9/12 | 1.6 | Production topics and cost theory | Hirschey, chapter 8 |
| T, 9/13 | PROBLEM SET 1 | ||
| R, 9/15 | EXAM 1 | ||
| F, 9/16 | 2.1 | Demand and supply review | Hirschey, chapter 3 |
| M, 9/19 | 2.2 | Elasticity | Hirschey, chapter 4 (134 - end). and 11 (413 - 417) |
| T, 9/20 | 2.3 | Demand estimation | Hirschey, chapter 5 |
| R, 9/22 | 2.4 | Interpretation of OLS results | Hirschey, chapter 5 A helpful page for using MS Excel "Linest" function to do OLS Regression. |
| F, 9/23 | 2.5 | Review of Exam 1 concepts (CONVO) | Hirschey, chapter 6 (199 -
202, 210 - 216, 225 -
end) How to Estimate Price Elasticity of Demand for Gasoline - EViews Output and Link |
| M, 9/26 | 2.6 | Business Forecasting / Time series econometrics | Hireschey, chapter 6 (203 - 209, 217 - 225) |
| T, 9/27 | IN-CLASS LAB 2: Forecasting | ||
| R, 9/29 | PROBLEM SET 2 | ||
| F, 9/30 | EXAM 2 | ||
| M, 10/3 | 3.1 | Market structure | Hirschey, chapters 10, 11, and 13 (525 - 535) |
| T, 10/4 | 3.2 | Imperfectly competitive markets | Hirschey, chapters 12 (457 - 479) and 13 (501 - 524) |
| R, 10/6 | 3.3 | Market structure and public policy | Hirschey, chapter 12 (479 - 485) |
| F, 10/7 | 3.4 | Introduction to game theory | Hirschey, chapter 14 (549 - 561) |
| M, 10/10 | 3.5 (No notes) | Game theory applications and strategy | Hirschey, chapter 14 (563 - end) |
| T, 10/11 | PROBLEM SET 3 | ||
| M, 10/17 | 3.6 | Pricing with market power | Hirschey, chapter 15 |
| T, 10/18 | IN-CLASS LAB 3: | "Bringing Discipline to Pricing" | |
| R, 10/20 | EXAM 3 | ||
| F, 10/21 | 4.1 | Risk | Hirschey, chapter 16 (631 -
644) "Running With Risk" |
| M, 10/24 | 4.2 | Dealing with risk | Hirschey, chapter 16 (644 - end) |
| T, 10/25 | 4.3 | Capital budgeting | Hirschey, chapter 17 (671 - 687, 693 - end) |
| R, 10/27 | 4.4 | Cost of capital | Hirschey, chapters 16 (644 - 650) and 17 (687 - 693) |
| F, 10/28 | IN-CLASS LAB 4: Capital Budgeting | Capital Budgeting Spreadsheet Template | |
| M, 10/31 | 4.5 | Corporate governance | Hirschey, chapter 18 |
| T, 11/1 | 4.6 | The regulatory environment | Hirschey, chapter 19 |
| R, 11/3 | PROBLEM SET 4 | ||
| F, 11/4 | EXAM 4 | ||
| M, 11/7 | PEER REVIEW OF TEAM PAPERS | ||
| T, 11/8 | TEAM PRESENTATIONS | ||
| R, 11/10 | TEAM PRESENTATIONS | ||
| F, 11/11 | TEAM PRESENTATIONS |
| Data Sets (Fall 2009): | Smyth Pies | Baseball | New Cars | EDP | Lab2 Fcst1 | RHIT Pizza | Gasoline | Export |
| Additional Resources: | Buehler and Pritsch, "Running With Risk", The McKinsey Quarterly, 2003 Number 4, 40 - 49. | |
| Ronald Coase, "The Nature of the Firm", Economica 4 (1937), 386 - 405 (JSTOR). | ||
| Jonathon Day, "The New Economics of Organization", The McKinsey Quarterly, 1998 Number 1, 4 - 18. | ||
| Milton Friedman, "The Social Responsibility of Business is to Increase its Profits", New York Times Magazing, September 13, 1970. | ||
| Eugster, et al, "Bringing Discipline to Pricing", The McKinsey Quarterly, 2000 Number 1, 133 - 139. | ||
| Information on Porter's "Five Forces" framework. | ||
| Phil Rosenzweig, "The Halo Effect, and other Mangerial Delusions", The McKinsey Quarterly, 2007 Number 1, 77 - 85. | ||
| Oliver Hart, "Corporate Governance: Some Theory and Implications", The Economic Journal, Vol. 105, No. 430 (May 1995), pp. 678-689 (JSTOR). |