GSF-1025 : Business Economics

Transcription

1 Faculté des sciences de l'administration Département de finance, assurance et immobilier PLAN DE COURS GSF-1025 : Business Economics NRC Automne Mode d'enseignement : Présentiel Temps consacré : Crédit(s) : 3 This course is an introduction to microeconomic analysis applied to firm management. The course focuses on understanding and applying the relevant economic principles in the business world. The topics covered include foundations of economics, optimization, supply and demand, incentives of economic agents, production costs structure, and markets. The main objective is to improve decision-making by highlighting the economic factors affecting individual choices, as well as corporate decisions and performance. Ce cours remplace le cours GSE-1003 "Microeconomics", la version anglaise de GSE-1000 "Économie de l'entreprise". Ce cours est la version anglaise de GSF-1020 "Économie de l'entreprise". Un seul des ces quatre (4) cours sera reconnu dans votre programme. Plage horaire Cours en classe mardi 15h30 à 18h20 PAP-2307 Du 31 août au 11 déc. Il se peut que l'horaire du cours ait été modifié depuis la dernière synchronisation avec Capsule. Vérifier l'horaire dans Capsule Site de cours Office Numbers and Schedules Patrick Fournier Senior Lecturer Office : 3674 patrick.fournier@fsa.ulaval.ca Disponibilités Please use the forum on the web site for all questions related to the course. Or better yet, come and see me during my office h Office hours : Tuesday 13h15-14h45 Thursday 13h15-14h45 Université Laval Page 1 de 10

2 Soutien technique Comptoir d'aide APTI (FSA) Palasis Prince, Local 2215-B poste 6258 Université Laval Page 2 de 10

3 Sommaire Course Description... 4 Introduction... 4 General Objectives... 4 Detailed Objectives... 4 Instructional Approach... 4 Course Content... 4 Evaluations & Grading... 5 Graded Assignments... 5 Informations détaillées sur les évaluations sommatives... 6 Quiz 1 : Chapters 1 and Quiz 2 : Chapters 3 and Quiz 3 : Chapters 5 and Quiz 4 : Chapters 7 and Quiz 5 : Chapters 13 and Quiz 6 : Chapters 15 and Midterm Exam... 7 Final Exam - Multiple Choice... 7 Final Exam - Long Questions... 8 Grading Scale... 8 Course Language Policy... 8 Plagiarism... 8 Disciplinary Regulations... 8 Exam Absences... 8 Students with disabilities, learning difficulties or mental health problems... 9 Laptop and Software Requirements... 9 Course Evaluation... 9 Teaching Materials... 9 Required Materials... 9 References and Appendices Note Université Laval Page 3 de 10

4 Course Description Introduction This course is an introduction to microeconomic analysis applied to firm management. The course focuses on understanding and applying the relevant economic principles in the business world. The topics covered include foundations of economics, optimization, supply and demand, incentives of economic agents, production costs structure, and markets. The main objective is to improve decision-making by highlighting the economic factors affecting individual choices, as well as corporate decisions and performance. It is a required course in the B.Comm. program. We will start with basic concepts, no previous knowledge of economics is expected or required. General Objectives We want you to understand fundamental microeconomic concepts and to appreciate their importance and relevance in the current business world. We will put a special emphasis on applying those concepts to corporate issues. At the end of the course, you should be able to analyze the economic factors affecting the decisions of a firm, and the way a market operates. Detailed Objectives The course is divided in four main parts. First, we present the basic economic concepts relevant to decision-making. Then we will focus on the incentives of buyers and sellers, and use them to understand markets. In the third part, we will apply our knowledge to study the main market structures. Finally, in the last part of the course, we will cover topics particularly interesting for students in commerce; trade-offs involving time and risk, and economics of information. Instructional Approach The main instructional approach will be oral presentations, supported by Powerpoint presentations and various contents. That being said, I really enjoy my presentations to be interactive and dynamic. The course is much more interesting and rewarding for everyone involved when students participate. I will insist on a respectful and positive classroom atmosphere, so that each and everyone of you feels comfortable asking questions or participating in class. Your questions and interventions help me to improve the lectures. I will take special care to apply what we learn with differents examples and exercises. That skill is especially useful for exams and what will come up later in your undergraduate program. Following that logic, a simple reminder that exercises in this course are critical and essential. There s no secret or magic formula, you just have to do your exercises regularly to understand the material. Simply attending the lectures or reading the textbook will not be sufficient. Course Content Le tableau ci-dessous présente les semaines d'activités prévues dans le cadre du cours. Titre Dates are indicative, I will be flexible depending on the importance of the material. Part 1 : Introduction Date Université Laval Page 4 de 10

5 Titre Date Chapter 1 : The Principles and Practice of Economics 1 sept. Chapter 2 : Economic Methods and Economic Questions 8 sept. Chapter 3 : Optimization : Doing the Best You Can Part 2 : Demand, Supply and Markets Chapter 4 : Demand, Supply, and Equilibrium Chapter 5 : Consumers and Incentives Chapter 6 : Sellers and Incentives Chapters 5 and 6 are big chapters, I will probably take 3 weeks to cover both of them. 15 sept. 22 sept. 29 sept. 6 oct. Midterm Exam 16 oct. 18h30-21h20 Chapter 7 : Perfect Competition and the Invisible Hand 3 nov. Part 3 : Market structures Chapter 12 : Monopoly Chapter 13 : Game Theory and Strategic Play Chapter 14 : Oligopoly and Monopolistic Competition Part 4 : Time and Risk Chapter 15 : Trade-Offs Involving Time and Risk 10 nov. 17 nov. 24 nov. Final Exam 5 déc. 9h00-11h50 Note : Veuillez vous référer à la section Course Content de votre site de cours pour de plus amples détails. Evaluations & Grading Graded Assignments Sommatives Titre Date Mode de travail Pondération Quiz (5 meilleures évaluations de ce regroupement) 10 % Quiz 1 : Chapters 1 and 2 Du 7 sept. à 07h Quiz 2 : Chapters 3 and 4 au 25 sept. à 23h00 Du 14 sept. à 07h00 au 9 oct. à 23h Université Laval Page 5 de 10

6 Titre Date Mode de travail Pondération Quiz 3 : Chapters 5 and 6 Quiz 4 : Chapters 7 and 12 Quiz 5 : Chapters 13 and 14 Quiz 6 : Chapters 15 and 16 Du 21 sept. à 07h00 au 23 oct. à 23h00 Du 2 nov. à 07h00 au 20 nov. à 23h00 Du 9 nov. à 07h00 au 4 déc. à 23h00 Du 16 nov. à 07h00 au 4 déc. à 23h Exams (Somme des évaluations de ce regroupement) 90 % Midterm Exam Final Exam - Multiple Choice Le 16 oct. de 18h30 à 21h20 Le 5 déc. de 09h00 à 11h50 45 % 27 % Final Exam - Long Questions À déterminer 18 % Informations détaillées sur les évaluations sommatives Quiz 1 : Chapters 1 and 2 Titre du questionnaire : Quiz 1 : Chapters 1 and 2 Période de disponibilité : Du 7 sept. à 07h00 au 25 sept. à 23h00 Pondération : Cette évaluation fait partie du regroupement Quiz qui est basé sur la règle d attribution Quiz 2 : Chapters 3 and 4 Titre du questionnaire : Quiz 2 : Chapters 3 and 4 Période de disponibilité : Du 14 sept. à 07h00 au 9 oct. à 23h00 Pondération : Cette évaluation fait partie du regroupement Quiz qui est basé sur la règle d attribution Quiz 3 : Chapters 5 and 6 Titre du questionnaire : Quiz 3 : Chapters 5 and 6 Période de disponibilité : Du 21 sept. à 07h00 au 23 oct. à 23h00 Université Laval Page 6 de 10

7 Pondération : Cette évaluation fait partie du regroupement Quiz qui est basé sur la règle d attribution Quiz 4 : Chapters 7 and 12 Titre du questionnaire : Quiz 4 : Chapters 7 and 12 Période de disponibilité : Du 2 nov. à 07h00 au 20 nov. à 23h00 Pondération : Cette évaluation fait partie du regroupement Quiz qui est basé sur la règle d attribution Quiz 5 : Chapters 13 and 14 Titre du questionnaire : Quiz 5 : Chapters 13 and 14 Période de disponibilité : Du 9 nov. à 07h00 au 4 déc. à 23h00 Pondération : Cette évaluation fait partie du regroupement Quiz qui est basé sur la règle d attribution Quiz 6 : Chapters 15 and 16 Titre du questionnaire : Quiz 6 : Chapter 15 Période de disponibilité : Du 16 nov. à 07h00 au 4 déc. à 23h00 Pondération : Cette évaluation fait partie du regroupement Quiz qui est basé sur la règle d attribution Directives : There are only 7 questions in this quiz, all on Chapter 15. The questions on Chapter 16 (last 2 questions) do not count. Midterm Exam Date : Le 16 oct. de 18h30 à 21h20 Pondération : 45 % Directives de l'évaluation : Chapters 1 to 6 (Chapter 6 : Sections 6.1 to 6.4 included, NOT 6.5 and 6.6) Fichiers à consulter : GSF-1025 Midterm A Solutions.pdf (624,63 Ko, déposé le 28 oct. ) Matériel autorisé : Calculator (non-programmable) Université Laval Page 7 de 10

8 Final Exam - Multiple Choice Date : Le 5 déc. de 09h00 à 11h50 Pondération : 27 % Directives de l'évaluation : Chapters 7, 12, 13, 14 and 15. Matériel autorisé : Calculator (non-programmable) Final Exam - Long Questions Date : À déterminer Pondération : 18 % Grading Scale Cote % minimum % maximum A A 90 92,99 A ,99 B ,99 B 80 82,99 B ,99 Cote % minimum % maximum C ,99 C 70 72,99 C ,99 D ,99 D 60 62,99 E 0 59,99 Course Language Policy Students have the possibility of handing in their papers and answering their exams in French with no consequences on their grade. However, course materials, instructions and exams will not be translated and will be available in English only. Plagiarism FSA ULaval does not tolerate conduct that does not comply with its ethical standards. The Règlement disciplinaire à l intention des étudiants de l Université Laval lists some 20 academic infractions that are subject to penalty. Everyone knows the most common errors, but are you aware that copying a few sentences from a work on paper or a website without inserting quotation marks or citing the source are two of the infractions? Or that summarizing an author s original idea in your own words without citing the source, and translating a text in part or entirely without stating its origin, are also prohibited? To avoid exposing yourself to consequences ranging from failing a course to expulsion from the university, consult the following website: You ll find everything you need to avoid plagiarism. Disciplinary Regulations Any student who is found to have committed a violation of the Règlement disciplinaire à l intention des étudiants de l Université Laval (Université Laval student disciplinary regulations) in this course, especially involving plagiarism, will be subject to the penalties set out in the regulations. Students should familiarize themselves with sections 28 to 32 of the disciplinary regulations. These can be found (in French only) at the following web address: Université Laval Page 8 de 10

9 Exam Absences It is the students responsibility to ensure that exam times do not conflict at the beginning of each semester as the Faculty is unable to offer special arrangements. For more information, go to: Students with disabilities, learning difficulties or mental health problems Students who have a letter of Attestation d accommodations scolaires [English: certificate of academic accommodation] issued by a counsellor from the Accueil et soutien aux étudiants en situation de handicap section [French acronym: ACSESH; English: students with disabilities support services section] must inform their professor or instructor at the start of the session so that accommodation measures in the classroom or during examinations can be put in place by their program administration. Students with a functional impairment or disability who do not have this letter must contact the ACSESH at as soon as possible. ACSESH strongly recommends that you take advantage of all the services to which you are entitled in order to succeed in your program, without discrimination or special privileges. For more information, please see the Procédure de mise en application des mesures d accommodations scolaires [English: application for accommodation measures] at: Laptop and Software Requirements Students are expected to have a laptop compatible with the FSA ULaval IT environment in order to participate in course activities both inside and outside the classroom (e.g. management simulations, online quizzes, Securexam, etc.). Minimum software requirements for compatibility with the FSA ULaval environment: Operating system: Windows 8.1, 8, 7 or Vista Office Suite: Microsoft Office 2013, 2010 or 2007: Microsoft Word Microsoft Excel Microsoft PowerPoint Browser: Internet Explorer 8.0 or later Google Chrome Firefox 3.5 or later Safari 5 or later Course Evaluation A formative course evaluation will be made around week 5. This confidential evaluation will be used only by your teacher to ascertain the appropriateness of the teaching method or whether adjustments are required before the end of the session. At the end of the course, the Faculty will conduct a summative evaluation, by soliciting your comments and suggestions, to determine whether the teaching method achieved its goals and your degree of satisfaction. During the session, a link to the course evaluation questionnaire will be uploaded to the course website home page. This evaluation is very important, as it will allow us to improve the course. The course supervisors thank you in advance for your collaboration. Please note that this evaluation is confidential. Link to the course evaluation system. Teaching Materials Université Laval Page 9 de 10

10 Required Materials Attention! The textbook exists in digital version, an etextbook. You can buy online here. It's a good way to save money if you don't want a physical copy of the textbook. The actual book is at Zone Coop, the retail price is $193. Here's a link to Amazon, if you want to check the different options there. There are other alternatives as well, I know there exists a 'student value edition' (it's basically a loose-leaf edition without binding). Here's a link on Amazon, the 'new' price is way too high, but the "used" copies might interest some of you. The textbook just came out this summer and it's a brand new edition. I will not use MyEconLab in class, so there's no need to buy that option. Micro economics ( 1ère édition ) Auteur : Daron Acemoglu, David Laibson, John A. List Éditeur : Pearson ( ) ISBN : References and Appendices Note The textbook, the lecture notes and the exercises are perfectly sufficient to succeed, but if you'd like to have different points of view on the material, please feel free to come and see me. Université Laval Page 10 de 10