Course:FRE295
| Small Business Management in Agri-Food Industries | |
|---|---|
 | |
| FRE/COMM 295 | |
| Section: | 103 |
| Instructor: | Dr. James Vercammen |
| Email: | james.vercammen@sauder.ubc.ca |
| Office: | Henry Angus 268 |
| Office Hours: | M 10:30-11:30; W 11:45-12:45 |
| Class Schedule: | MW 1:00-2:30 |
| Classroom: | Henry Angus 491 |
| Important Course Pages | |
| Syllabus | |
| Lecture Notes | |
| Assignments | |
| Course Discussion | |
Course Description
Managerial Economics covers the economic foundations of managerial decision–making.
Topics include supply and demand, empirical methods, organization and objectives of the firm, competition and monopoly, pricing with market power, oligopoly, game theory, uncertainty and information, the agency problem, behavioral economics, and market failure.
Learning Objectives
By the end of the course, students should be able to apply economic models and economic analysis to a wide range of business problems, including pricing decisions and competitive strategy decisions. In carrying out economic analysis, students should be comfortable using diagrams, a variety of mathematical techniques, and spreadsheets.
Assessment
| Assignment 1 | 5% |
| Assignment 2 | 5% |
| Midterm Exam | 35% |
| Class Participation (including clicker questions) | 10% |
| Final Exam | 45% |
Academic Integrity and Plagiarism
All UBC students are expected to behave as honest and responsible members of an academic community. See http://www.calendar.ubc.ca/vancouver/index.cfm?tree=3,54,111,959
Required Textbook
Managerial Economics and Strategy, 2nd edition by Jeffrey Perloff and James Brander. This textbook is available in the UBC bookstore or can be obtained at lower
cost as an e-book from the bookstore or on-line. Used copies of the 1st edition are also acceptable. Used copies of earlier (custom paperback) editions are not recommended. Access to the helpful online resource MyEconLab comes with new copies, but is not required. Access to MyEconLab by itself is sold at http://catalogue.pearsoned.ca/educator/product/Managerial-Economics-and-Strategy-Plus-MyEconLab-with-Pearson-eText-Access-Card-Package/9780134472553.page.
Technology Requirements
All students must have an iClicker and should have a laptop computer. All students must be able to access the Connect website for the course.
Course Schedule
| Class | Day | Reading | Topic | Comment |
|---|---|---|---|---|
| 1 | Wed | 1,2.1-2.4, 3.1 | Introduction, Supply and Demand, Elasticity | |
| 2 | Mon | 5.1, 6.1, 6.2 | Production and Cost | |
| 3 | Wed | 3.2 | Estimation I | |
| 4 | Mon | 3.3, 3.4 | Estimation II | |
| 5 | Wed | 7.1-7.4 | Organization and objectives of the firm | Assign 1 |
| 6 | Mon | 8.1-8.4 | Competition, Consumer Surplus | |
| 7 | Wed | 8.4, 9.1-9.4 | The Invisible Hand, Monopoly | |
| 8 | Mon | 10.1-10.4 | Pricing: Price Discrimination | |
| 9 | Wed | 10.5, 10.6 | Pricing: Two-Part Pricing, Bundling | Assign 1 due |
| Mon | Thanksgiving (no class) | |||
| 10 | Wed | 10.6, 10.7 | Pricing: Mixed Bundling, Peak-Load Pricing | |
| 11 | Mon | 11.1, 11.2 | Cartels, Cournot Oligopoly | |
| 12 | Wed | 11.3, 11.4, 12.1 | Bertrand Oligop., Mon. Comp., Game Theory | |
| 13 | Mon | 12.1-12.3 | Static Games | |
| 14 | Wed | 13.1-13.2 | Dynamic Games | |
| TBD | Midterm | |||
| 15 | Mon | 13.3, 13.5 | Entry Deterrence, Hold-Up | |
| 16 | Wed | 13.6, 14.1 | Behavioral Game Theory, Uncertainty | |
| 17 | Mon | 14.2-14.3 | Uncertainty cont’d | |
| 18 | Wed | 14.5 | Behavioral Decision-Making w/ Uncertainty | Assign 2 |
| Mon | Remembrance Day (no class) | |||
| 19 | Wed | 15.1, 15.2 | Adverse Selection | |
| 20 | Mon | 15.3, 15.4 | Moral Hazard and Agency | |
| 21 | Wed | Economic Research Example | ||
| 22 | Mon | 15.4, 15.5 | Contracts and Monitoring | Assign 2 due |
| 23 | Wed | 16.1, 16.4 | Market Failure; catch-up; review | |
| TBA | Final Exam (comprehensive) |