(Off Campus)

Office: COB 219

email: SCAUDILL@BUSINESS.AUBURN.EDU

Telephone: (334) 844-2907

Office Hours: M-F 10:00 - 11:00 and by appointment.

Introduction: Managerial economics is designed to provide business decision-makers with a background in economic theory and the tools of economic analysis which can prove helpful in solving managerial problems. This course is primarily concerned with microeconomic theory and techniques needed to make sound economic decisions.

Text: Keat and Young, Managerial Economics 2nd ed., Prentice-Hall, 1996.

Possibly other readings as needed.

Grading: The course grade is based on three equally-weighted parts:

33% Exam 1, Wednesday, July 15.

33% Exam 2, Monday, August 17.

33% Group/Individual Empirical Project, written summary, August 19.

0% Daily Quizzes.

The grading scale will be the usual 90-80-70-60, A-B-C-D.

The quizzes will be given during the first five minutes to ten minutes of each class. Material for each quiz will come from the homework assignment for the day and/or the previous lecture. Obviously, the daily quizzes make attendance and promptness very important. Students can drop the lowest 2 quizzes and the grade will be determined on the remainder. There are no makeups for these quizzes. There will be homework assigned nearly every day, but the homework will not be collected or graded (that is why we have the quizzes). The homework key will be posted on the economics department bulletin board prior to the next class/quiz opportunity.

The group empirical project will involve computer analysis of economic data and a written summary and presentation of your findings. The typed summary should be no more than ten pages. More details later.

Reading assignments will be given daily. Basically, we will start at the beginning of the book and move forward.