Bellevue University

MGTC 480

Managerial Economics

 

 

Prerequisites:  Acceptance in the Management accelerated degree program.

 

Credit:  3 Credit Hours

 

Catalog Description:  Develops an understanding of the fundamental principles of economics and how they influence the science of management.  Students review industry as an economic entity.  The course examines how markets, organizations, ownership, structure, and control in business influence the global economy.

 

Mission: The mission of the accelerated major in Management is to provide the CPS student with relevant, contemporary management theory in a practical, real-world framework.  In this way, students can apply what they learn in their regular workday activities.  Most of our students are content experts in their chosen business function.  However, because their academic preparation has been interrupted by personal and/or career commitments, they have seldom been exposed to the fundamentals of management.  Although many are promoted into managerial positions, (or aspire to be), they are often left with only in-house or external seminars as the basis for learning management science.  The student in the accelerated Management major develops relevant, applicable skills within a solid theoretical framework of Management Science.

 

Purpose: The course will cover how markets, organizations, ownership, structure and control in business influences the global economy.

 

Objectives:  Students who successfully complete this course will be able to:

1.                   Describe U.S. capitalism and how it has contributed to the structure and operation of today's businesses.

2.                   Identify the methods used in economics to draw conclusions about business operations.

3.                   Define and describe an organizations' structure, production, competition, and pricing challenges.

4.                   Recognize the issues of ownership and decision-making as economic outcomes.

5.                   Explain how the employment relationship impacts the economy and to understand how pay and productivity issues influence the marketplace.

6.                   Define the differences in global and international economics compared to U.S. models.

 

Course Outline:

Week 1:

1.       The Efficiency of Markets

2.       Definition of a firm in a capitalist economy

3.       Brief history of U.S. capitalism

4.       The science of economics

5.       Competition in markets

6.       Pricing & organization

7.       Firm ownership

 

Week 2:

1.       The Economics of Organization

2.       Organizational tools

3.       Contracts

4.       Distribution, rents & efficiency

 

Week 3:

1.       Organization, Ownership & Managing Human Resources

2.       Modern financial theory

3.       Corporate control & economic efficiency

4.       The employment relationship & experience

 

Week 4:

1.       Organizational Structure

2.       The modern firm

3.       Core competencies, organization & strategy

4.       Strategic alliances

5.       International organization styles

 

General Assignments and Evaluation of Student Work:  Students will participate in discussion, prepare reports to share with classmates, complete group assignments and do research on topics of their choice.

 

There are no tests in the course, however grades will be determined by completion of assignments in terms of their quality, thorough coverage of the topics, and timeliness.  Due dates are assigned for each class activity.

 

Course/Program Assessment:  Grading is based on the quality, thoroughness and timeliness of all assignments, along with class attendance, class participation, group projects and class activities. 

 

 

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Resources

 

 

Required Texts and/or Materials:

Miller, Robert L. & North, Douglas C., (2002), The Economics of Public Issues (13^th Edition), Addison-Wesley.

 

Slavin, Stephen; (1999), Economics- A Self Teaching Guide  (2^nd Edition), John Wiley & Son.