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UNIVERSITI KEBANGSAAN MALAYSIA
GRADUATE SCHOOL OF BUSINESS (UKM – GSB) 1. Course Title 2. Course Code 3. Course Status 4. Credit Hours 5. Prerequisite 6. Course Evaluation BUSINESS ECONOMICS AND DECISION ANALYSIS ZCZB6023 Compulsory 3 Basic Economics & quantitative analysis First half: Assignments/Participation Quizes Managerial Presentation Second half: Quiz 1 Quiz 2 Assignments 7.Course Facilitator : 10 % : 20% : 20% : 20% : 20% : 10 %
Profesor Madya Dr Noreha Halid Room: level 4, School of Business Management (Room #: 7.426) Telephone: 89213786 e-mel: firstname.lastname@example.org Profesor Madya Dr. Fazli Idris Room: level 4, School of Business Management Telephone: 89213943 e-mel: email@example.com Prof Madya Dr Mohd Ezani Mat Hassan Room: level 4, School of Business Management Telephone: 89215742 e-mel: firstname.lastname@example.org Pn Norlin Khalid Room: level 4, School of Economics Telephone: 89215776
8. Time and Place 9. Semester offered 10. Course Objective
Tuesday; Set 1 (8.30-11.30am); Set 2 (3:30-6:30pm) Thursday: Set 3 (12.00-3.00pm); Set 4 (3:30-6:30pm) Semester 2, Session 2011/12 The objectives of this course are as follows: 1) to impart the knowledge on the various economic theories 2) to develop the skills necessary to apply these theories together with the relevant tools in economic analysis and decision sciences in deriving
Pure & Monopolistic Competition & Monopoly MMH Ch. 8 & 9 MMH Ch. The principal goal of the course is to learn the process of economic reasoning in order to untangle complex business management problems. Effectively analyze the factors affecting business decision makings and organizational objectives. provides students with a sound conceptual understanding of the role quantitative methods play in the decision-making process. Cost Analysis & Applications Of Cost Theory -meaning and measurement of cost. relationship between marginal analysis and differential calculus Demand Analysis -demand relationship and elasticity (price. 2. Course Learning Outcomes (CLO) At the end of this course. Better understand and appreciate the role of economic understandings in business the business environment. The course emphasizes the application of quantitative methods by using problem situations to introduce each of the selected quantitative methods concepts and techniques. Managerial Economics is an applied branch of economics. Course Outline Week Topics to be covered Introduction -what is managerial economics -the role of profits Wk 1 -the principal-agent problem Fundamental economic concepts and tools in Marginal Analysis -demand and supply. Apply the economic theories in the business decision making. 5. cross price and other elasticity measures. 4. marginal analysis. leadership and communication. Course Synopsis 13. This course examines the logic and consequences of consumer and producer decision-making. students will be able to: 1. Achieve skills with respect to teamwork. short and long-run cost functions. 3) to provide students with a sound conceptual understanding of the role quantitative methods play in the decision-making process.. historical example and case study. We pursue these questions using a combination of theory. Acquire the skills in using the economic and analytical tools in optimizing business decision making. 12. income. the efficiency of those outcomes and solutions for inefficient outcomes. the resultant market outcomes. Managerial Economics welds together microeconomic theory and the insights of management science in a decision-making format.optimum business and organizational decision makings. 3. Quantitative analysis on the other hand. 1 Wk 2 & 3 MMH Ch. 10 & 11 2 . 2-3 Wk 4 & 5 Wk5 & 6 MMH Ch. 11. break even and contribution margin analysis QUIZ Pricing & Output Decisions .
Objective. 10 3 .Expected Opportunity Loss . continuum of market structure. .Decision Making Under Uncertainty (without probabilities) .) .Special Cases in LP .Maximax. Decision Analysis . Redundancy .No Feasible Solution. price leadership QUIZ MANAGERIAL PRESENTATION Week Topics to be covered Introduction .Expected Value of Perfect Information . etc.Solving Problems of LP . Maximization Problems .Expected Value of Sample Information .Calculating Revised Probabilities . Unboundedness.Formulating LP Problems .Minimax Regret . Grade.Alternate Optimal Solutions Transportation and Assignment Models .Requirements of a Linear Programming (LP) Problem .Equally Likely (Laplace).Utility Theory .Topics.-competitive strategy.Sensitivity Analysis Decision Analysis (cont.Course outline .Expected Monetary Value .Types of Decision-Making Environments .Basic Assumptions of LP .Transportation Model Course outline Wk 7 MMH Ch. Constraints . the sources of market power Oligopoly -interdependencies. Schedule.Maximin. . 12 Chpt 3 Wk8 Chpt 3 Chpt 8 Wk10 Chp.Decision Trees . Evaluation.How Probability Values Are Estimated by Bayesian Analysis . . .Criterion of Realism (Hurwicz Criterion). cartel and other form of collusion.Minimization Problems.Utility as a Decision-Making Criterion Wk9 Linear Programming . priceoutput determination.Decision-Making Under Risk (with probabilities) .
Waiting Line Costs .Setting Up an Assignment Problem .CPM (Critical Path Method) .Avoiding Stockouts and Shortages .Project Crashing with CPM Inventory Control Models .Developing an Initial Solution: Northwest Corner Rule .Characteristics of a Queuing System . .Constant Service Time Model (M/D/1) .Critical Path .Unbalanced Assignment Problems .Probability of Project Completion .Economic Order Quantity: Determining How Much to Order .Irregular Supply and Demand.Maximization Assignment Problems Waiting Lines and Queuing Theory Models .Inventory Decisions .Single-Channel Queuing Model with Poisson Arrivals and Exponential Service Times (M/M/1) .The Hungarian Method (Flood’s Technique) .Queuing Models .Service Facility Characteristics .Finite Model Population (M/M/1 with Finite Source) .Setting Up a Transportation Problem .Importance of Inventory Control .Stepping Stone Method.Activity Times . 14 Chp.More Complex Queuing Models and the use of Simulation Quiz 1 Project Management .PERT .Unbalanced Transportation Problems . Waiting Line Characteristics . 13 Wk 12 Wk 13 Chp. MODI Method .Vogel’s Approximation Method .Wk 11 .Finding a Least-Cost Solution .Decoupling function. 6 4 .PERT Networks .Planning and Scheduling Project Costs: Budgeting Process .Multiple-Channel Queuing Model with Poisson Arrivals and Exponential Service Times (M/M/m) . Storing Resources .Monitoring and Controlling Project Costs .PERT/Cost .Reorder Point: Determining When to Order Chp.Arrival Characteristics.Framework of PERT and CPM .Assignment Model .
Operational Gaming .ABC Analysis Chp. International Student Edition.Roles of Computers in Simulation Quiz 2 14. and Stair. Texts Main texts McGuigan.Cost Analysis of the Simulation .M. Eleventh Edition. Render. Chp..Use of Safety Stock .Simulation for a Maintenance Policy .Advantages and Disadvantages of Simulation .Safety Stock with Unknown Stockout Costs . Quantitative Analysis for Management.Simulation of a Queuing Problem Simulation (cont. Moyer & Harris. International Thompson Publishing. Edition.. Allyn and Bacon. 2008. 10th.Simulation and Inventory Analysis . R.EOQ Without Instantaneous Receipt Assumption .ROP with Known Stockout Costs . Thomson 2006 Black. Jr.Monte Carlo Simulation . Economics for Managers.) . 15 Simulation .Other types of Simulation . 2008 (MMH) Mark Hirschey. Economics for managers.Systems Simulation .Verification and Validation . B. 4th Cincinnati. (2004) Business Statistics: Contemporary Decision Making. Ohio: South-Western. K.Quantity Discount Models . 15 Wk 14 5 .
will add value to the learning experience. Seventh Edition. McGraw Hill. 2005 James G Mulligan.I. 2001 Froeb. Managerial Economics . D. South Western. Irwin. Bonini. 2006 Truet & Truet. Charles and Hausman.C. & Marks S. 9th Edition. good questions. Fifth Edition.g. 6 . Irwin. Allyn& Bacon 2003 Samuelson.. Managerial Economics. Managerial Economics. McGrawHill 2005 Maurice S. Managerial Economics In a Global Economy. Fifth Edition.R. Managerial Economics In a Global Economy. R. 2008 Important Notes: Most of the class will be conducted in a lecture/discussion format. 2005 James G Mulligan. Managerial Economics. Managerial Economics. & McCann.R. and Rubin. New Jersey: Prentice-Hall.F.T. & Marks S. Managerial Economics. B. L.Strategy for Profit. Fifth Edition. accompanied by small group activities and case discussion. Fifth Edition. Dominick Salvatore. both written and oral.G. (1998) Statistics for Management. Thomson. W. Quantitative Analysis for Management.C.S. UKM views plagiarism as a serious matter which could lead to your dismissal from the program/university. Allyn& Bacon 2003 Samuelson.M.G. 2006 Levin. and (3) quality of contributions to out-of-class activities.Strategy for Profit. Managerial Economics. & Thomas C. A Problem Solving Approach.Additional References: Dominick Salvatore. High quality communication. The ability to communicate about economic and business issues is expected by employers of MBA graduates. W. Managerial Economics . Seventh Edition. quality discussion of cases. Warren 2000. McGrawHill 2005 Maurice S. & Thomas C. Seventh Edition. Participation grades will be based on three factors: (1) percentage of classes attended.F. good explanations of sample problems). 7th edition. (2) quality of contributions to in-class activities (e.
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