Take My Liberty BUSI 620 Class

Baye and Prince is read one or two chapters a week. Week one opens with the fundamentals of managerial economics, including economic versus accounting profit, marginal reasoning and present value, then turns to the forces of supply and demand.

Week two is given to quantitative demand analysis: own-price, cross-price and income elasticities, and how a manager uses them to predict what a price change does to revenue.

Week three covers production and cost, from marginal product and the least-cost mix of inputs to short-run and long-run cost curves, along with how firms organize to obtain inputs and how they manage the conflict between owners and the managers who act for them.

Week four covers industry structure and the behavior of firms under perfect competition, monopoly and monopolistic competition. Week five applies game theory to oligopoly, and week six covers pricing strategies for firms with market power.

Week seven is set aside for the paper and a study guide. Week eight closes with the economics of information and the role of government in markets, ending on a Friday.

Each week has short recorded presentations, a quiz in most weeks, and tests at the end of weeks three, five and eight.

BUSI 620 is carried one week at a time, since each homework set and forum draws on that week's chapters.

Homework answers are worked in full. A problem asking for the profit-maximizing output of a monopolist sets marginal revenue equal to marginal cost, solves for quantity, reads price off the demand curve and computes profit, with each line shown so the logic can be followed and checked.

Written questions get short, direct answers in plain economic language. A question on why a firm might continue operating at a loss in the short run, for example, compares price with average variable cost rather than average total cost and explains why fixed costs do not affect the decision.

Each discussion answer clears the 300-word minimum with a source cited, and the single classmate reply, 150 words or more, brings in something fresh, perhaps how a well-known retailer actually sets its prices.

The paper is planned early so that either path, an interview or a research paper, has time to be done well.

The quizzes and tests are taken by you, and you upload each homework set and post each forum yourself.

BUSI 620 work goes to an economist with applied experience: a pricing analyst, a corporate economist or a lecturer who has taught managerial economics to MBA students.

That background shows in the homework, where answers use the textbook's notation, label every curve in a diagram and explain the economic meaning of each number rather than simply reporting it.

The discussions benefit too: asked about charging different buyers different prices, the economist can walk through cinema matinee tickets or tiered software licences and show where the extra profit comes from.

A second reviewer recalculates every homework answer before delivery and reads each post for length and citation.

Your details stay with the coordinator, and the writer sees only the course, the questions and your instructions.

The homework is the first difficulty. Students with no economics background must learn to read and shift demand and supply curves, compute elasticities and solve for equilibrium in the first two weeks.

Calculus is the second. Several chapters use derivatives to find marginal revenue, marginal cost and the profit-maximizing output, and a rusty algebra or calculus foundation slows every set.

Game theory is the third. Payoff matrices, dominant strategies and Nash equilibria are unfamiliar to most MBA students, and the repeated-game problems add another layer.

The pace is the fourth, with a homework set, a forum and usually a quiz every week, and a test in weeks three, five and eight.

The paper is the fifth. Seven to nine pages on a managerial economics topic is a substantial piece, and the interview path needs a willing manager and time to schedule the conversation.

Because the first problem set and the first discussion are both due in the opening week, the handover works best before day one.

Problem sets come to you with a few days in hand, fully worked, and flagged where a method is likely to turn up again on that week's quiz.

Forum threads arrive early in each of weeks one to six, and replies once classmates have posted.

Work on the paper begins around week four, and the finished draft lands ahead of its week-seven due date. If you choose the interview, questions for the manager are prepared in week four so there is time to schedule it.

Homework 7 arrives before the final Friday deadline in week eight.

On the quote, each problem set, each discussion and the paper sit on their own lines; taken together, the problem sets cost the most. A student who signs up partway through pays only for what remains.