EC404 Managerial Economics

for S1J 2009

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Mission Statement: The mission of Park University, an entrepreneurial institution of learning, is to provide access to academic excellence, which will prepare learners to think critically, communicate effectively and engage in lifelong learning while serving a global community.

Vision Statement: Park University will be a renowned international leader in providing innovative educational opportunities for learners within the global society.


EC 404 Managerial Economics


S1J 2009 PV


Jono A. Anzalone, M.S.


Adjunct Faculty


M.S. Economics, University of Nebraska
B.A. Political Science, Creighton University

Office Hours

As Needed by Appointment - Contact Me for an Appointment

Daytime Phone



Web Page

Semester Dates

Monday, January 12, 2009 - Sunday, March 08, 2009

Class Days


Class Time

5:30 - 9:50 PM


EC315 (or equivalent intermediate statistics course) and CS140 (or equivalent MS Word & Excel course)

Credit Hours



Spreadsheet Modeling & Decision Analysis: A Practical Introduction to Management Science, Revised - With 2 CDs


Ragsdale, Cliff


REV 08




South-Western Publishing Co.

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville Bookstore

Additional Resources:

McAfee Memorial Library - Online information, links, electronic databases and the Online catalog. Contact the library for further assistance via email or at 800-270-4347.
Career Counseling - The Career Development Center (CDC) provides services for all stages of career development.  The mission of the CDC is to provide the career planning tools to ensure a lifetime of career success.
Park Helpdesk - If you have forgotten your OPEN ID or Password, or need assistance with your PirateMail account, please email or call 800-927-3024
Resources for Current Students - A great place to look for all kinds of information

Course Description:
EC404 Managerial Economics: This course uses linear reqression and linear programming computer packages to analyze various economic and business management problems. Prerequisites: EC141, EC142, and EC315. A second statistics course and CS140 may be substituted for EC315. 3:0:3

Educational Philosophy:

Teaching is a delicate mix of both art and science. The most successful teachers, that is, those who make a defined difference in the lives of students, realize that memorization of class material is not a sufficient benchmark for success.

As a teacher, I strive to apply the learn, do, teach methodology in the classroom.  Richard Bach said "learning is finding out what we already know. Doing is demonstrating that you know it.  Teaching is reminding others that they know just as wee as you.  We are all learners, doers, and teachers."  I feel that it is important for students to learn the objectives setout for the course, but just as important is for the student to "do" or apply the objective.  In the classroom setting, this can be accomplished many ways, including research based projects, simulations, and exercises.  The teaching aspect of learn, do, teach, allows students to apply the information they learned and did to a teaching model.  This can be done via in class presentations, mini-lectures, or other pedagological methods.

Inherent in my teaching method is an application of real-life bridging of learning matter.  In classes such as economics, students often have a difficult time developing a frame of reference if they have limited exposure to the business/work world.  Therefore, I attempt to bridge the academic concepts presented in terms that are understandable and enabling the student to relate.

In summary, my teaching method is more than just memorization lecture.  My teaching attempts to encompass time proven strategies to heighten students experiences.

Learning Outcomes:
  Core Learning Outcomes

  1. Integrate economic and statistical theory to solve practical business-oriented problems.
  2. Conduct Regression Analysis using SPSS or Excel, and analyze the regression coefficients.
  3. Solve Linear Programming problems using Excel.
  4. Write a proposal for a research project for a statistical model selected by the student.

Core Assessment:

Class Assessment:

HOMEWORK: Homework is graded liberally and solution copies are provided to students. The primary purpose of homework is to give feedback to the students and the instructor as to what learning has taken place. Successful mastery of homework is necessary preparation for the test(s). Any questions on the homework problems need to be resolved prior to the subsequent test.


 TEST INFORMATION: None of the tests will be a take-home exam. Tests will primarily involve problem solving but may also have multiple choice and/or short answer sections. The problems will be similar to those presented in class and provided in the homework assignments.   The Final Test will be closed Textbook and closed-notes. Tables taken from the GUIDE will be attached to this test as necessary. Tests 2 and 3 will focus on material presented after the previous Test. The final exam will be comprehensive.

A student, who misses an exam, is allowed to make it up if their absence was excused before the test or is a genuine emergency. Makeup tests will substitute essay questions for the short answer and multiple-choice portion of the original exam. The makeup test will have a different problem section and will include subjects covered since the exam that was missed.


TERM PROJECT. The term project is a group project that involves proposing a model and then writing a formal proposal for the research it involves. The class will be divided into two person groups that will work together outside of class on their term project. The student groups will use Excel or SPSS to regress data for their model. The student groups will then analyze the computer output. Each group will write and submit for grading a written report using the APA format for in-text citations and the References page. See GUIDE for details on the various requirements for the written papers.

       Only one paper, one floppy disc, etc. will be turned in by each group. Each Item turned in will have the names of all members on the first page. The Label on the floppy disc will be in the format shown to the right.

 Oral presentations are a group project that will result in a grade to each student in the group. Grading will include the group’s compliance with the following:
    PowerPoint presentations should follow the following rules.

           1) The 3-5-7 rule

               - No more than 3 main points per slide

               - No more than 5 lines of dense text

               - No more than 7 words per line

            2) Avoid technology bells and whistles that do not enhance learning objectives of your presentation.


Grading Policy Grading Criteria – Evaluation Item Points -- Date
                                   Evaluation Item     Points    
            Homework and Case Studies       100   
     Project Topic and Feasibility Paper      100     
                                                 Test 1             125    

         Term Project Written Proposal            80    

                                                Test 2             125      

         Term Project Written Report         70      
                 Term Project Presentation          100      
                                           Final Exam           300     
                                                  TOTAL      1000

The course grade for students will be based on the overall average of homework and tests taken during the course in accordance with the weighting of the various requirements as stated in the syllabus.

All final exams in all School of Business and Management courses will be comprehensive and will be closed book and closed notes. They will constitute 30% of the total course grade and will not be a take-home exam. They will be completed during the test week in the period designated by the registrar or by the Proctor in the case online courses. If calculators are allowed, they will not be multifunctional electronic devices that include features such as: phones, cameras, instant messaging, pagers, and so forth. Electronic Computers will not be allowed on final exams unless an exception is made by the Dean of the School of Business and Management.

Late Submission of Course Materials:
I will treat you as if you are an employee of an international economic consulting firm and I am the CEO of the company. How many days can you call in sick, not show up for work, or play hooky and still retain your job?  As the CEO, I will not allow for late submission of course material.  Very few circumstances are unavoidable with proper planning.  Plan ahead to succeed!

Classroom Rules of Conduct:

Again,  I will treat you as if you are an employee of an international economic consulting firm and I am the CEO of the company.  Please be respectful of those in the classroom.

Course Topic/Dates/Assignments:
 Week                 Topic(s)                                                               

1    Regression Intro GUIDE: (pp 1-5, 7-9, 101-110, 119-129)
2        Excel Regression                                                          

3       Conducting Regression Analysis                                 

4      Statistical Significance and Excel                                 

4                    (Project Topic and Feasibility Paper Due)                 

5       Linear Programming                                     
6      TEST 1 (Last 1 hour and 15 minutes of period)
6                     LP Applications (Make vs. Buy & Investment)                         
7        LP Applications (Blending & Cash Flow)                              
8        Network Modeling                                                                          
9       Network Modeling (continued)                                                    

10     Integer Linear Programming                                                      

10                   (Term Project Proposal Due)                                          
11     TEST 2 (Last 1 hour and 15 minutes of period) 

11        Time Series Forecasting                                                             

12       Goal Programming and Multiple Objective Optimization         
12       (Term Project Report Due)                                             

13     Goal Programming and Multiple Objective Optimization     
13     Nonlinear Programming                                                           

15       Term Project Oral Presentations                                   

16      FINAL TEST                                                            

Academic Honesty:
Academic integrity is the foundation of the academic community. Because each student has the primary responsibility for being academically honest, students are advised to read and understand all sections of this policy relating to standards of conduct and academic life.   Park University 2008-2009 Undergraduate Catalog Page 87

Plagiarism involves the use of quotations without quotation marks, the use of quotations without indication of the source, the use of another's idea without acknowledging the source, the submission of a paper, laboratory report, project, or class assignment (any portion of such) prepared by another person, or incorrect paraphrasing. Park University 2008-2009 Undergraduate Catalog Page 87

Attendance Policy:
Instructors are required to maintain attendance records and to report absences via the online attendance reporting system.

  1. The instructor may excuse absences for valid reasons, but missed work must be made up within the semester/term of enrollment.
  2. Work missed through unexcused absences must also be made up within the semester/term of enrollment, but unexcused absences may carry further penalties.
  3. In the event of two consecutive weeks of unexcused absences in a semester/term of enrollment, the student will be administratively withdrawn, resulting in a grade of "F".
  4. A "Contract for Incomplete" will not be issued to a student who has unexcused or excessive absences recorded for a course.
  5. Students receiving Military Tuition Assistance or Veterans Administration educational benefits must not exceed three unexcused absences in the semester/term of enrollment. Excessive absences will be reported to the appropriate agency and may result in a monetary penalty to the student.
  6. Report of a "F" grade (attendance or academic) resulting from excessive absence for those students who are receiving financial assistance from agencies not mentioned in item 5 above will be reported to the appropriate agency.

Park University 2008-2009 Undergraduate Catalog Page 89-90

Disability Guidelines:
Park University is committed to meeting the needs of all students that meet the criteria for special assistance. These guidelines are designed to supply directions to students concerning the information necessary to accomplish this goal. It is Park University's policy to comply fully with federal and state law, including Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, regarding students with disabilities. In the case of any inconsistency between these guidelines and federal and/or state law, the provisions of the law will apply. Additional information concerning Park University's policies and procedures related to disability can be found on the Park University web page: .

 Jono has been affiliated with the American Red Cross since 1994 and, serving in various positions such as Disaster Committee Chair for the Heartland Chapter (Omaha, Nebraska), Director of Emergency Services for the Heartland Chapter, ESF6 ,Mass Care Manager based of out FEMA Region VII in Kansas City, with his last assignment seconded to the International Federation of the Red Cross Red Crescent Societies’ Pan-American Disaster Response Unit (PADRU) in Panama, Panama. Jono recently joined FEMA Region VII as the Regional Voluntary Agency Liaison.  Jono has also been a member of the American Red Cross Disaster Service Human Resource (DSHR) system since 1997, and deployed on a large number of national disaster and international assignments, working operations in Belize, Suriname, Jamaica, The Bahamas, Turks and Caicos, and Haiti. Prior to working fulltime at the Red Cross, Jono worked as an investment banker for five years and has served as an adjunct facility for the University of Nebraska, Park University, and Metropolitan Community College since 2003 teaching courses in economics and finance.

Jono graduated from Creighton University with a BA in Political Science and from the University of Nebraska with a MS in Economics. 


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Last Updated:12/9/2008 8:27:17 PM