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UB MGE 302 - Syllabus_MGE302_Fall 2019

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UNIVERSITY AT BUFFALO SCHOOL OF MANAGEMENT MGE 302 – Applied Economics Section A & F1E - LEC Fall 2019 Instructor: Dr. Nicole L. Hunter Office: Jacobs 247 Office Hours: MW 9:30-10:30am & By Appointment Email: [email protected] Lectures: MW: 8:00 – 9:20am in Jacobs 106 TA: Scott Laing Office: Jacobs 253 Office Hours: MWF 1:00-2:00pm Email: [email protected] TA: Kyle Moody Office: Jacobs 365 Office Hours: TR 1:00-2:30pm Email: [email protected] Course Description: Applied economics takes the fundamental principles of microeconomics and considers them more in depth, with an added emphasis on the firm’s perspective in economic situations. In addition to market and demand analysis, we will cover more advanced topics such as profit maximization in different market structures, pricing models and price discrimination, game theory and decision making. As much as possible, throughout the course we will consider real world examples and applications of the material covered. Student Learning Outcomes: By the end of this course, students should be able to: • Use economic theory to describe and analyze demand, supply and market equilibrium as well as calculate and apply elasticities to describe market and consumer behavior. • Compute the relevant costs of any decision and use cost-benefit analysis to identify optimal outcomes. • Identify and analyze the profit-maximizing price and volume decisions for firms in all market structures. • Use game theory to describe and predict how the actions of managers in oligopoly markets influence and are influenced by the actions of their competitors and others in the marketplace. • Explain why uniform pricing does not generate the maximum profit and describe pricing models and strategies that can generate more revenue. • Examine the nature of market failures and discuss some of the more important and effective ways government can attempt to make markets generate social surplus. e-book: Managerial Economics and Organizational Architecture, by Brickley et. al., 6th ed. The access code for the book (and online homework system Connect) can be purchased through the bookstore or from the McGraw Hill website. A separate sheet with registration instructions are posted on Blackboard and will be reviewed the first day of class.Homework: Homework will be assigned for each chapter online through the Connect homework system. Connect is a course requirement. Each assignment will have a submission deadline. Failure to complete the assignment by the deadline will result in a grade of zero for that assignment. There will be no extensions granted except for documented and serious circumstances. 50% of the student’s grade will come from these homework assignments. Exams: There will be 3 exams given throughout the course. The first two exams are unit exams and noncumulative. Of the first 2 exams, the lowest score will be dropped. The exam which is not dropped will count for 20% of the student’s grade. The third exam will be cumulative with emphasis placed on material from the last 1/3 of the course material. The final exam will count for 30% of the student’s grade. If you fail to appear for an exam for any reason, that missed exam will count as your “dropped” exam grade. The final exam cannot be dropped and is mandatory. Exam dates are scheduled for: Exam 1 Friday, September 27th, 8-10pm Exam 2 Friday, November 1st, 8-10pm Final Exam Wednesday, December 11th, 7:15-10:15pm *Exam rooms will be announced on Blackboard at least one week prior to the exam date Communication: Blackboard: Be sure to check Blackboard announcements regularly. Any information I need to communicate regarding the class or lecture will be posted on Blackboard along with supplemental readings. Email: If you have a personal matter you would like to discuss email me at [email protected] If you have any other queries or questions pertaining to the course which is not personal in nature send your email to [email protected] Grading: The following are the weights given to assignments, quizzes and exams: Homework 50% Unit Exam 20% Final Exam 30% The range for grading is as follows: A A- B+ B B- C+ C C- D F 93+ 90-92 87-89 83-86 80-82 77-79 73-76 70-72 65-56 55 or belowTentative Course Outline (subject to change) Chapter 2: Economists’ View of Behavior Chapter 3: Exchange and Markets Chapter 4: Demand Chapter 5: Production and Cost Exam 1 Chapter 6: Market Structure Chapter 7: Pricing with Market Power Chapter 8: Economics of Strategy: Creating and Capturing Value Chapter 9: Economics of Strategy: Game Theory Exam 2 Chapter 10: Incentive Conflicts and Contracts Chapter 11: Organizational Architecture Chapter 19: Vertical Integration and Outsourcing Chapter 21: The Economics of Regulation Final Exam Time permitting Chapter 22: Ethics and Organizational Architecture will be covered. Incomplete Policy: Academic Integrity Policy: Accessibility Resources: If you have a disability and/or may require some type of instructional and/or examination accommodation, please inform me early in the semester so that we can coordinate the accommodations you may need. If you have not already done so, please contact the Accessibility Resources office. The office is located at 60 Capen Hall and the telephone number is (716) 645-2608. More information can also be found at

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