Graduate Studies Reports Access

Graduate Course Proposal Form Submission Detail - ECO6005
Tracking Number - 2716

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Current Status: Approved by SCNS - 2012-04-09
Campus: Tampa
Submission Type: New
Course Change Information (for course changes only):
Comments: to GC 2/6/12 (For Grad Cert). GC approved 2/6/12. To GC 2/20/12. to USF Sys 2/20/12. to SCNS 2/28/12. Appd eff 4/15/12

Detail Information

  1. Date & Time Submitted: 2012-01-20
  2. Department: Business Administration
  3. College: BA
  4. Budget Account Number: 1403.0000
  5. Contact Person: Paul Solomon
  6. Phone: 8139745995
  7. Email:
  8. Prefix: ECO
  9. Number: 6005
  10. Full Title: Introduction to Economic Concepts for Managers
  11. Credit Hours: 3
  12. Section Type: C - Class Lecture (Primarily)
  13. Is the course title variable?: N
  14. Is a permit required for registration?: N
  15. Are the credit hours variable?: N
  16. Is this course repeatable?:
  17. If repeatable, how many times?: 0
  18. Abbreviated Title (30 characters maximum): Economic Concepts
  19. Course Online?: B - Face-to-face and online (separate sections)
  20. Percentage Online: 75
  21. Grading Option: R - Regular
  22. Prerequisites:
  23. Corequisites:
  24. Course Description: A graduate level introduction to the economic foundations of decision making, this course addresses the fundamental tools of micro and macroeconomic analysis and how they can be applied to firms operating in both domestic and global markets.

  25. Please briefly explain why it is necessary and/or desirable to add this course: Needed for new program/concentration/certificate
  26. What is the need or demand for this course? (Indicate if this course is part of a required sequence in the major.) What other programs would this course service? The three credit course, Introduction to Economic Concepts for Managers, is a required course in the Certificate in the Foundations of Business. This course will fulfill economics requirements for non-business majors previously served by two separate two credit hour economics courses, ECP 6702 Managerial Economics (fall 2011 enrollment 64 students, spring 2012 enrollment 89 students) and ECO 6708 Global Economic Environment of Business (fall 2011 enrollment 48 students, spring 2012 enrollment 110 students.)
  27. Has this course been offered as Selected Topics/Experimental Topics course? If yes, how many times? No
  28. What qualifications for training and/or experience are necessary to teach this course? (List minimum qualifications for the instructor.) Terminal degree in Economics
  29. Objectives: The objectives of this course are to introduce students to the economic foundations of business decision making in domestic and global markets; help students gain an understanding of key concepts in economics at both the micro and macro levels; and explore how these concepts can be applied to a wide range of business and policy problems.
  30. Learning Outcomes: Students who complete the requirements for Introduction to Economic Concepts for Managers should be able to:

    • Identify and explain issues facing firms that operate in global markets including comparative advantage, exchange rate determination, tariffs, quotas, and strategic trade policy

    • Demonstrate an understanding of and the ability to use basic economic models including models of supply and demand, pricing, production, employment, and markets

    • Identify and explain appropriate business strategies for firms operating in diverse market conditions

    • Apply basic game theory to strategic decisions

  31. Major Topics: • Managers, markets, and globalization: an overview

    • Demand and supply analysis

    • The economics of consumer behavior

    • Elasticity and demand

    • Production models and costs of production

    • Economies of scale, scope and learning

    • Managerial decisions in competitive markets

    • Fundamentals of game theory

    • Strategic decision making

    • Managing in a global environment

  32. Textbooks: Thomas, Christopher R. and S. Charles Maurice, Managerial Economics: Foundations of Business Analysis
  33. Course Readings, Online Resources, and Other Purchases: In addition to the text, additional, timely readings from the Wall Street Journal, The Economist, or the business/financial press may be assigned.
  34. Student Expectations/Requirements and Grading Policy: Grades in the course will be determined by two in-class exams, each of which counts 40 percent of the course grade. In addition to exams, homework assignments count for 20 percent of the course grade.
  35. Assignments, Exams and Tests: Students are expected to complete assigned readings and problems before each class meeting. Exams will be based on readings, lecture, and discussion. The student’s grade is dependent on performance on the mid-term and final exams. Each exam comprises 40% of the final grade; the remaining 20% of the course grade is based on homework assignments.
  36. Attendance Policy: In accordance with University policy, students who do not attend the first class and who have not made individual arrangements with the instructor may be dropped from the course.

    Class attendance is an expectation. The University of South Florida (University/USF) has established the following policy regarding religious observances: ( Students who anticipate being absent from class because of observance of a major religious holiday must provide advance notice of the date to the instructor in writing no later than the second week of classes.

    In the event of an emergency, it may be necessary for USF to suspend normal operations. During this time, USF may opt to continue delivery of instruction through methods that include but are not limited to: Blackboard, Elluminate, Skype, and email messaging and/or an alternate schedule. It’s the responsibility of the student to monitor Blackboard site for each class for course specific communication, and the main USF, College, and department websites, emails, and MoBull messages for important general information.

  37. Policy on Make-up Work: Students are expected to attend class, complete assigned work, and be prepared to take exams on dates listed in the syllabus. Students who fail to complete an assignment or to take an exam on the stated date because of personal, family, or medical emergency may have the opportunity to take a make-up exam if the reason for absence is documented.

    As noted in the USF Student Handbook, “Academic integrity is the foundation of the University of South Florida System’s (University/USF) commitment to the academic honesty and personal integrity of its University community. Academic integrity is grounded in certain fundamental values, which include honesty, respect and fairness. Broadly defined, academic honesty is the completion of all academic endeavors and claims of scholarly knowledge as representative of one’s own efforts. Knowledge and maintenance of the academic standards of honesty and integrity as set forth by the University are the responsibility of the entire academic community, including the instructional faculty, staff and students.“

  38. Program This Course Supports: Certificate in the Foundations; MBA
  39. Course Concurrence Information: Introduction to Economic Concepts for Managers is a required course for the Certificate in the Foundations of Business (CFB.) The 17-credit hour CFB provides foundation KSAs for prospective MBA students who have not earned an undergraduate degree in a business discipline from an AACSB-accredited school within the 7 years preceding application to the MBA program. The CFB also complements existing masters and doctoral programs, including those in engineering, health care, and the sciences, by providing students the knowledge and skill to effectively manage people and resources in specialized fields.

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