1ObjectiveStress vsGriffithPlasticityPlasticZoneExampleMeasure-mentFracto-graphy Microstructure-Properties: ILecture 6B:Fracture Toughness:how to use it, and measure it 27-301Fall, 2007Prof. A. D. Rollett MicrostructureProperties Processing Performance
BSP 1005: Managerial Economics AY2011/12 Semester 2Syllabus Section 1Section 2 Wednesday Friday 11:00am–1:00pm 9:00am–11:00am Dr. Gong Jie Office: BIZ1 #0632 Tel: 65161119 Email:bizgongj@nus.edu.sgOffice Hours4:00pm5:30pm, Wednesdays and by appointment
COURSE DESCRIPTION
This course will introduce you to managerial economics, the application of microeconomic theory to decision making in a wide variety of managerial settings. It will provide you—(future) managers, entrepreneurs, analysts and consultants—with knowledge to help you allocate scarce resources and develop competitive strategies.
The goal of this course is to give students the competence to recognize the benefits and costs associated with business activities, as well as the constraints firms face in varying economic scenarios, in order to make the optimal choice to fulfill managerial objectives. By the time you have completed this course, you will have learned to:
1.thoroughly understand the function of market mechanisms and the interaction among economic agents; 2.understand how the interplay between cost and demand fundamentals shape the prices that prevail in a market; 3.identify the categories of costs that are relevant for critical business decisions such as pricing and market entry and exit; and 4.use several important gametheory based models to understand oligopoly markets. To achieve these objectives, the course will cover topics including demand and supply analysis; consumer theory; production theory; perfect competition; market power and monopoly; oligopoly; game theory; and the economics of information. TEXTBOOKS, READINGS AND HANDOUTS th Required:MicroeconomicsEditionby David Besanko and Ronald Braeutigam, 4 rd Supplemental:Managerial Economicsby Ivan Png and Dale Lehman, 3Edition Both textbooks should be available at the bookstore before the first class. The lecture notes will be available at IVLE before each class meeting. Additional reading materials and answers to homework questions will also be posted regularly. To maximize your success in the class, you should read the relevant textbook chapters and skim through the lecture notes before coming to class. GRADING COMPONENTS AND GUIDELINES Final grade is based on the following components:
1.Homework problem sets, 25% 2.Presentation, 15% 3.Final exam, 60% Important: Theproblem setsandpresentationwill be assessed based on group work: This means that all members in a study group will receive equal assessment for their aggregate work. Groups will be formed in the first tutorial session. Note that a study group consists ofno more than four members, and all the group members should fully participate in the learning activities and contribute to the team’s performance in good faith. Forhomework problem sets, each group is required to prepare a typed or clearly handwritten answer to be submitted on the assignment’s due date. Graded homework assignments are usually returned one week after they are collected. For thepresentation, each group will be assigned a topic and do a 15minute presentation in tutorial. Details will be provided in class. Thefinal examwill be taken during the exam week, April 21 May 5. The exact date and time will be announced as soon as it is available. The exam covers all the lecture materials throughout the course.Note that no makeup exam is available for a missed exam. COURSE OUTLINE Part I: Determination of Prices1.Introduction to Managerial Economics2.Demand and Supply 3.Utility Maximization and Demand Theory4.Supply and CostPart II: Market Structure5.Competitive Market6.Market Power and Monopoly7.Pricing with Market PowerPart III: Game Theory and Oligopoly 8.SimultaneousMove Game and Cournot Model 9.SequentialMove Game and Stackelburg Model 10.Economics of Information