|Course Number||ECON 6351 - 18510|
|Course Title||Economics for Managers|
|Instructor||Dr. Yong U, Glasure|
|Office Hours||Wed,11am-1pm (in UW 239 for f2f classes); Wed, 2:00PM-3:00PM (virtual office hour for online class)|
Prerequisites for a course exist because the School of Business Administration faculty have determined that the knowledge, skills, and/or exposure students receive through the prerequisites is critical to their success in the course and their ability to contribute to their fellow students' learning experience. In addition, taking your core courses and concentration or elective courses in a prescribed sequence prepares you to integrate the knowledge and skills you are acquiring properly. Students bear the responsibility for verifying that they have the appropriate prerequisites for their courses. Students who enroll in a course without completing the prerequisites risk being dropped from the class at any time during the semester should their lack of prerequisites come to light. In addition, students who enroll without the prerequisites and as a result find themselves at a disadvantage in meeting course objectives will have no redress with the instructor.
A study of the domestic and global economic environment of organizations.
Schiller, Bradley R., Study Guide to accompany Essentials of Economics, 9th Edition, 2014 ed., McGraw-Hill, ISBN 0077650158(Recommended)The Study Guide helps students develop quantitative skills and the use of economic terminology and enhances critical thinking capabilities. Each chapter includes the following features: Quick Review, Learning Objectives, Using Key terms, True/False Practice Questions, Multiple Choice Practice Questions, Problems and Applications, Common Errors. At the end of each chapter, answers are provided to all problems, exercises, and questions.
Schiller, Bradley R., Essentials of Economics, 9th (2014) ed., McGraw-Hill, ISBN 0078021731(Required)
The Victoria College Bookstore carries textbooks for all UHV SBA courses.
Students may use the publishing information posted above to order their textbooks from their favorite book vendor. However, before doing so you should find out what your vendor's anticipated shipping time is, and what their return policy is. Also, you should not write in or remove shrinkwrap from any textbook or materials you purchase from any vendor until the first class day in the event that:
In addition, be aware that, on occasion, certain outside vendors may substitute an international version of a textbook for the version you have requested without notice. International versions of textbooks may be quite different from the editions we require.
The mission of the UHV MBA program is to provide individuals with the knowledge and skills needed to successfully manage organizations in a dynamic environment by offering an integrated curriculum that blends theoretical concepts with practical applications. Specifically, the MBA program seeks to develop in each graduate the capacity to:
To be a successful manager, you must understand the strategic management process. Strategic management consists of the strategic analysis, strategy formulation/decisions, and strategic execution/implementation/actions an organization undertakes in order to sustain competitive advantages.
The modern manager operates in a complex and competitive environment. It is essential that MBA students develop an understanding of economics and its relevance to managerial decision-making. Many issues for managers must be addressed using economic principles and analysis. This course is designed to provide business students with a sound appreciation of modern economics and its application to management and business strategy process. Corporate/business strategy is concerned with understanding the fundamental determinants of business performance; and this course will emphasize the underlying economic foundations of business performance. Here we will establish the basic economic principles that underlie decisions made by businesses.
The course focuses on the fundamental economic theories most useful for the management of the firm. The principles from both microeconomics and macroeconomics will be covered. Applications drawn from current economic events (term project) are utilized to better understand the internal and external environments of the firm and to help managers formulate effective business strategies and policies. Although no prior knowledge of economics is required, this is more than just a survey or principles course. Important economic tools of analysis are introduced to provide managers with the skills necessary to apply economics in a meaningful way to enhance business decision-making.
The School of Business Administration is accredited by AACSB International, the hallmark of excellence in management education. AACSB International accreditation represents the highest standard of achievement for business schools worldwide. Institutions that earn accreditation confirm their commitment to quality and continuous improvement through a rigorous and comprehensive peer review. AACSB International accreditation is the hallmark of excellence in management education. AACSB International accreditation adds value to your degree. The AACSB International accreditation standards require you to:
As a result of this course, students will:
Your letter grade is determined using the grade distribution that follows. You can calculate your percentage grade at any time in the semester by dividing the points you have accrued by the total points available up to that point. This percentage is then matched to a letter grade.
|A||90% or higher|
|B||80 to 89%|
|C||70 to 79%|
|D||60 to 69%|
|F||Less than 60%|
|Professor reserves right to modify syllabus and course schedule and other info|
|Mandatory group term paper and participation||70 points|
|Discussion Board Participation||30 points|
|Homework from each chapter||40 points|
|Exam 1||100 points|
|Exam 2||100 points|
|Exam 3||100 points|
|Optional Cumulative Final||200 points|
First, the professor reserves the right to modify the syllabus and the course schedule when needed. The professor will notify the students in the event that there will be a change to the syllabus and the course schedule.Second, keep in mind that there is no make-up exam in this course. Concerning Exam 1 and Exam 2, if you missed Exam 1 or Exam 2, you take the optional cumulative final. However, if you missed both Exams, you should consider dropping the course. Third, your course grade is determined by the total points earned from the various components designated in the course. Some of your former colleagues who finally realized that they cannot pass the course with a grade of C before the last exam because of both missing weekly discussions and workshops, and homework, asked for extra credit works. Note that I do not give any extra credit work to anyone. Fourth, pay a special attention to this information: If you do not participate in the group assignment(s), the professor can lower the course grade by a whole letter grade plus losing all points for the group project(s). (For example, if your final course grade is an A, you will receive a B.) Think twice before you decide to not participate in the group assignment(s). You can construe this as a penalty for putting your group through an unpleasant working environment, possibly lowering the grade of the project, and so on. Lastly, I do not subscribe to the above percentage grading system in determining the course grade. The percentage grading system is a generic statement used by the business school. Note that I use the point system as indicated in (3). Your course grade is based upon the total points you have earned over the various components indicated in the course. For example, if you have earned a total score of 396 and over out of 440 possible points, the final course grade is an A. However, if the total score is 395 points, your course grade is a B. I do not curve the final course grade. It is up to you what course grade you want to receive in this course.
Keep in mind that to receive a good course grade, you must complete the group term paper. See the group case study below. Also note that putting a non-contributing member on the group term paper, IF CAUGHT, WILL RECEIVE 0 POINT.This course involves the study of both the macro- and microeconomic concepts as well as different tools of economic analysis. The purpose of the group term project is to provide each student with the opportunity to apply economic analysis to a real world business or economic issue. This assignment is designed to make students search in current newspapers, periodicals, on-line, in order to find data and articles that illustrate the specific issues. More information will be furnished before completing the microeconomics portion of the course. Pay a special attention to this: If one does not participate in the group term project, the professor will lower the course grade by a whole letter grade besides losing all points for the group projects. (i.e., if your final course grade is a B, you will receive a C.) Think twice before you decide not to participate in the group project. Group term paper/case study assessing course learning objectives 1-7.
The type of a discussion question I ask requires lots of thinking, but it is related to the chapter you are responsible for that particular week. Sometimes, the discussion question can be very controversial.Questions for discussion will be posted on the Discussion Board (DB) each week. Weekly Discussion Boards will be locked on a due date. Late answers will not be accepted. (DB questions assessing course learning objectives 1-7.)
Taking an online course requires self-discipline and a programmed approach to each chapter. In the past, I posted self-enrichment study guides from each chapter without giving credit.After carefully monitoring studying behaviors of your former colleagues over the years, I have adopted a new approach in trying to engage you in the course. You will do a self-enrichment homework assignment for each chapter in the form of true/false and/or multiple choice questions. You must score 70% or higher on that particular homework to receive some credit for your effort. See the break-down below. The breakdown of the credit for a particular homework assignment is as follows: if you score 70-79%, you receive 60% credit on that particular homework; 80-89%, 80% credit; and 90-100%, 100% credit. You can repeat a particular homework 3 times to improve your score. In the event that you forget to do a particular homework assignment on time, your score is 0. Do not ask me for an extension. You can find homework on Assessments, the same place where you find regular exams. (Objectives 1-6 are assessed)
Exam 1 covers chapters 1, and 3-5, and my lecture notes. My lecture notes expands certain topics that are covered in each chapter. (Objectives 1-4 are assessed). Major topics covered are: (1) supply and demand analysis at the micro-level; (2)consumer behavior; (3) supply decisions. The exam is composed of multiple choices, essays and problem-solving
Exam 2 covers chapters 6-7, 2, and 10-11 and my lecture notes. (Objectives 4-6 are assessed). Major topics covered are: (1) the four basic market structures, which give arise to basic foundations in business strategy; (2) topics related to the US economy and the business cycle; (3) aggregate demand and supply analysis. The exam is composed of multiple choices, essays and problem-solving
Exam 3 covers chapters 12-14, 17 and my lecture notes. (Objectives 5-6 are assessed). Major topics covered are: (1) the fiscal tools and policy; (2) the US banking system and the monetary tools and policy; (3) international trade. The exam is composed of multiple choices, essays and problem-solving.
If you missed Exam 1 or Exam 2, you take the optional cumulative final. Note that Exam 3 and the optional cumulative final are mutually exclusive. In other words, the cumulative final contains all the questions that are on Exam 3 plus questions coming from the Exam 1 and Exam 2 materials including an additional essay question. The optional final has two essay questions, one from Exam 3 and one from the prior exam materials.If the student wishes to replace one of the lowest scores on the first two-exam score, he/she can request for the cumulative final examination. Keep in mind that if you made 80 on Exam 1 and you took the cumulative final and made 70. That means your exam 1 score becomes 70 and exam 3 score, 70. Because of the negative consequence, be careful in requesting for the cumulative final. You may do worse. (Objectives 1-6 are assessed)
Your capacity to contribute to class discussions is directly related to your commitment to completing all reading assignments by the dates listed on the course schedule. Class participation grades will reflect both the quantity and the quality of your participation.
Make-up exams will only be given at the discretion of the instructor. Students are strongly cautioned to notify the instructor immediately if legitimate and insurmountable obstacles prevent them from participating in a scheduled exam session.
The due dates for all assignments will be strictly followed. Late assignments may or may not be accepted at the instructor’s discretion; should the instructor accept a late assignment, he or she may reduce the grade of the assignment the equivalent of one (1) letter grade for each day the assignment is late.
According to the UHV Student Handbook, students are expected to be diligent in their studies and regular in class attendance. A student whose absences are determined by the instructor to be excessive shall be dropped prior to the last day to drop a course or withdraw from UHV with a grade of W or F. For students enrolled in online courses, "absence" connotes a failure to engage in class participation activities on a weekly basis. If an unforeseen crisis (including family emergencies, professional obligations, and technical difficulties) prevents you from fulfilling your course obligations, you are responsible for alerting your instructor to the reason for and anticipate duration of your absence.
Teaching and learning is a partnership between faculty and students. I will fulfill my partnership obligations by serving as advisor, consultant, mentor and purveyor of general comments and clarifications of difficult or confusing concepts. To this end, I will respond to questions within 72 hours. You will fulfill your partnership obligations by being a fully participative, responsive, helping, and working team member of the class. You should check your UHV email frequently and respond to faculty in a timely fashion. Good business and professional etiquette is expected. No derogatory comments should be made. You may certainly disagree with others in class discussions, and you may state your disagreement (if you choose to); however, please do so in a polite manner.
Homework, take-home exams, case assignments and bulletin board participation all play an important role in your education in this course. They are an essential part of the learning process in that they require the synthesis and extension of concepts. They also help both the student and the instructor to evaluate one’s progress in mastering the material. Past experience indicates that generally the course material cannot be adequately mastered without active involvement on your part.
Discussion of homework assignments with others who are also struggling with them can be highly beneficial and is encouraged. Most real-life problems are solved through team efforts, and it is important to learn how to solve problems cooperatively. The interaction with others working on the same problem often reveals different approaches to common difficulties.
Each student is responsible for maintaining high standards of academic honesty and ethical behavior. In order that each student understands what is (or is not) acceptable behavior, the following guidelines are offered.
UHV’s Student Handbook contains a detailed description of the university’s Academic Honesty Policy. In addition, tutors at the Academic Center (see section below) are available to assist you in providing proper citations for your source materials.
The University of Houston System complies with Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, pertaining to the provision of reasonable academic adjustments/auxiliary aids for students with a disability. In accordance with Section 504 and ADA guidelines, each University within the System strives to provide reasonable academic adjustments/auxiliary aids to students who request and require them. If you believe that you have a disability requiring academic adjustments/auxiliary aids, please contact your University’s student disability services center. University of Houston–Victoria, Office of Disability Services, Cheryl Worley, 3007 N. Ben Wilson St., Suite 132-B University West, Victoria, TX 77901. Office phone – 361-570-4287; E-mail email@example.com; Website - www.uhv.edu/DisabilityServices
Per Texas state law, students will be excused from attending class and other required activities, including examinations, for the observance of a religious holy day, including travel for that purpose. A student whose absence is excused on these grounds will be allowed to take an examination or complete an assignment within one (1) week of the excused absence.
Students who feel they are the victims of sexual harassment may contact the Associate Vice President for Student Affairs at 361-570-4290 and/or the Director of Human Resources/Affirmative Action at 361-570-4800.
Students who have non-academic grievances or complaints may contact Student Services at 361-485-4409.
The Student Success Center offers writing assistance to all UHV students in the form of paper reviews by peer tutors. Tutors will aid students in looking more critically at their own writing to examine issues such as organization, structure, and development of ideas. To submit a document for online tutoring, or to schedule an appointment for face-to-face tutoring, please visit the Student Success Center online http://uhv.mywconline.com/. For more information about the Student Success Center and its library of online resources, visit the Center's Web site at http://www.uhv.edu/ac or stop by Suite 129 (University West in Victoria).