1
BUEC 503 X50:
Economic Foundations Winter 2020
Time and Location: X50: M 6:30-9:30, BUS 4 13 Instructor: Jevan Cherniwchan
Office: 3-21E Business Building
Phone: 780-492-2944
Email: [email protected] (please include “BUEC 503 – Section X50” at the start of the subject line)
Office Hours: By appointment.
Course Overview:
This course provides the foundations needed to develop profitable business strategies using economic reasoning. Course topics include supply and demand, market structure, strategic interaction, uncertainty and asymmetric information, and government intervention.
Course Materials:
The textbook for this course is Managerial Economics and Strategy (2nd ed) by Jeffrey M. Perloff and James A. Brander (Pearson, 2007). Copies of this book are available in the bookstore.
Any additional materials will be posted on the course website or distributed in class.
Course Website:
This course will make use of eClass (https://eclass.srv.ualberta.ca/portal/). All registered students should have access to the course page. Class announcements and materials will be posted on eClass.
Grading:
Grades will be determined as follows:
Midterm Exam: 50% (March 2, 2020, in class)
Final Exam: 50% (Date to be determined)
Exams:
There will be one midterm exam and a final exam. The midterm exam is tentatively scheduled to be in class during regular class time on March 2, 2020. The final exam is not comprehensive and will be scheduled by the registrar. If the midterm exam is missed for a valid reason, the midterm weight will automatically be added to the final exam. If a student requests that a part of an exam be re-graded, I reserve the right to re-grade the entire exam. All such requests must be submitted within one week of the exam being returned.
2 Final Grade:
Your final percentage grade is calculated as a weighted average of the individual components.
Letter grades are assigned following the recommendations of the University Calendar. From Section 23.4 (4) of the University Calendar, “Grades reflect judgements of student achievement made by instructors. These judgements are based on a combination of absolute achievement and relative performance in a class.” Final letter grades will be assigned using the above statement as a guide.
Audio and Video Recordings:
Audio or video recording, digital or otherwise, of lectures, labs, seminars or any other teaching environment by students is allowed only with the prior written consent of the instructor or as a part of an approved accommodation plan. Student or instructor content, digital or otherwise, created and/or used within the context of the course is to be used solely for personal study, and is not to be used or distributed for any other purpose without prior written consent from the content author(s).
Academic Integrity:
The University of Alberta is committed to the highest standards of academic integrity and honesty. Students are expected to be familiar with these standards and to uphold the policies of the University in this respect. Students are urged to familiarize themselves with the provisions of the Code of Student Behaviour, available through the University’s Governance website (http://www.governance.ualberta.ca/), and avoid any behaviour which could potentially result in suspicions of cheating, plagiarism, misrepresentations of facts and/or participation in an offence.
All factual information taken from other sources such as books, journal articles, websites, etc., must be referenced in any submitted work. Academic dishonesty is a serious offence and can result in suspension or expulsion from the University.
3 Course Outline:
This outline is tentative; dates may change as the semester progresses. The corresponding textbook chapter is listed beside each topic. Additional readings and other materials may be distributed in class or posted on eClass.
Class Date Topic Readings
1 Jan. 6 Course Overview
Supply and Demand: The Basics Ch. 2 Jan. 13 No Class
2 Jan. 20 Consumer Behavior Ch. 4
3 Jan. 27 Producer Behavior Ch. 5-7 4 Feb. 3 Producer Behavior (Continued)
5 Feb. 10 Market Structure Ch. 8-11
Feb. 17 No Class – Reading Week 6 Feb. 24 Market Structure (Continued) 7 Mar. 2 Midterm Exam
8 Mar. 9 Market Structure (Continued)
9 Mar. 16 Strategic Interaction Ch. 12-13 10 Mar. 23 Strategic Interaction (Continued)
11 Mar. 30 Uncertainty Ch. 14
12 Apr. 6 Asymmetric Information Ch. 15
Government Intervention Ch. 16
