BA-321 Managerial Economics

Course title: BA 321 Managerial Economics

Campus: National

Initiator: Jean-Pierre Lukusa

Date Initiated: June 1 2021

Course description:
This course applies economic principles and concepts used to help managers make rational business decisions. Topics include economic theory for business management, supply and demand analysis, production and cost analysis, and profit maximization in the different market structures. The student will have a final presentation based on managerial economic tools.

Hours per Week

No. of Weeks

Total Hours

Semester Credits

Lecture

3

x

16

x

48

=

3

Laboratory

x

x

=

Workshop

x

x

=

Total Semester Credits

3

[ ]

1. Effective oral communication: capacity to deliver prepared, purposeful presentations designed to increase knowledge, to foster understanding, or to promote change in the listeners’ attitudes, values, beliefs, or behaviors.

[ ]

2. Effective written communication: development and expression of ideas in writing through work in many genres and styles, utilizing different writing technologies, and mixing texts, data, and images through iterative experiences across the curriculum.

[x]

3. Critical thinking: a habit of mind characterized by the comprehensive exploration of issues, ideas, artifacts, and events before accepting or formulating an opinion or conclusion.

[x]

4. Problem solving: capacity to design, evaluate, and implement a strategy to answer an open-ended question or achieve a desired goal.

[ ]

5. Intercultural knowledge and competence: a set of cognitive, affective, and behavioral skills and characteristics that support effective and appropriate interaction in a variety of cultural contexts.

[ ]

6. Information literacy: the ability to know when there is a need for information, to be able to identify, locate, evaluate, and effectively and responsibly use and share that information for the problem at hand.

[ ]

7. Foundations and skills for life-long learning : purposeful learning activity, undertaken on an ongoing basis with the aim of improving knowledge, skills, and competence.

[X]

8. Quantitative Reasoning: ability to reason and solve quantitative problems from a wide array of authentic contexts and everyday life situations; comprehends and can create sophisticated arguments supported by quantitative evidence and can clearly communicate those arguments in a variety of formats.

CSLO (General) 1: Apply the concepts of demand and supply to a range of economic managerial problems.

Student Learning Outcome (specific)

ISLO

PSLO

Assessment Strategies

1.1 Calculate the demand and supply equation.

3, 4, 8

2

The student will calculate the demand and supply equations. The calculations will be rated with a rubric.

1.2. Solve for the equilibrium price for a market.

3, 4, 8

2

The student will be asked to solve for the market price given demand and supply schedule. The computations will be rated with a rubric.

1.3 Show the changes in prices caused by the shifting of demand and supply.

3, 4, 8

2

The student will use a graph to show the change in price caused by the shifting of demand and supply. The graph will be graded with a rubric.

CSLO (General) 2: Apply concepts of elasticity, marginal revenue and costs in managerial decision-making.

Student Learning Outcomes (specific)

ISLO

PSLO

Assessment Strategies

2.1 Compute the price, cross price and income elasticity of demand and supply.

3, 4, 8

2

The student will be asked to compute for price, cross price and income elasticity of demand and supply. The computations will be rated with a rubric.

2.2 Use the determinants of elasticity to show its effects on income.

3, 4, 8

2

The student will be asked to show using a graph the change in income caused by the determinants of elasticity. The graph will be rated with a rubric.

2.3 Solve for the cost functions, revenue functions, and break-even points.

3, 4, 8

2

The student will compute cost functions, revenue functions, and break-even point. The computations will be rated with a rubric.

2.4 Use the profit maximizing rule to make production and pricing decisions.

3*, 4, 8

2

The student will be asked to make decisions on production and pricing while using the profit maximizing rule. The project will be rated with a rubric.

CSLO (General) 3: Evaluate how market structure affects firms' pricing behavior and economic efficiency.

Student Learning Outcomes (specific)

ISLO

PSLO

Assessment Strategies

3.1 Compare the four basic market structures.

3, 4, 8

2

The student will write short answers to the four basic market structures. The short answers will be rated with a rubric.

3.2 Assess how fixed-costs and variable costs affect the decision making of managers for different market structures.

3, 4, 8

2

The student will be asked to Assess how fixed-costs and variable costs affect the decision making of managers for different market structures. The project will be rated using a rubric.

3.3 Choose the price-output decisions based on the different market structures and periods.

3, 4, 8

2

The student will write short answers to questions on price-output decisions based on the different market structures and periods. The short answers will be rated with a rubric.

BA 321 Managerial Economics