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ECO 3324 – Managerial Economics
Professor: Judit Gergely
Contact information Email: drgergely.j@t-online.hu
Availability Office: Room 222
Course Description
This course will be structured so that students might develop the ability to "think strategically". The course will offer an overview of corporate strategic theory and practice. This unit focuses on the overall direction of the enterprise and the role of a manager in shaping this, and achieving a coherent and realistic direction for the business. The course will highlight, that the success of an organization arise from managers abilities in developing strategies for growth, typically on an international scale, stretching organizational capabilities and embedding strategic thinking throughout the entire organization. The approach is interdisciplinary and practical; it is using cases taken from the real world and exercises, role-plays and other methods to take this unit as applicable to the real life business problems as possible.
Required texts and materials
Gerry Johnson, Kevan Scholes, Richard Whittington: Exploring Corporate Strategy, Text and Cases. Prentice Hall Europe.
Recommended readings
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Michael E. Porter: Competitive Strategy. Techniques for Analyzing Industries and competition. Free Press 1993.
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Philippe Lasserre: Global Strategic Management. Palgrave McMillan. 2003.
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Ian Dobbs: Managerial Economics. Oxford University Press. 2000.
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Adrian Haberberg, Alison Rieple: The Strategic Management of Organizations. Financial Times Prentice Hall 2001.
Assignments & grading
The final grade will be based on the results of:
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a mid-term written exam;
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a case study oral and written presentation;
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a comprehensive final written examination and
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class participation.
The weights attached to each are as follows:
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Mid-term written exam 20%
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Case study oral and written presentation 20%
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Comprehensive final written examination 40%
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Class participation 20%
Honor code
You are expected without question to adhere completely to the McDaniel College academic honor code. Any violation will result in a zero for the given assignment or exam, and other possible sanctions. Your attention is drawn in particular to plagiarism. Copying and pasting text without proper citation and use will result in a zero for the assignment. We will discuss how to cite sources during the semester.
Course policies
Participation implies attendance. Accumulation of absences not only results in points lost after your third absence; it lowers your class participation grade.
Creation of a proper classroom environment requires above all else respect for fellow students. We all ask that you don' t be late; that you don' t surf the internet on your laptop or otherwise distract everyone else during class; that you turn off your cell phone and that you do not check for messages during class. Likewise, you can expect me to end class on time, to engage you in discussion and debate, and to be respectful of all points of view. This course involves a good deal of in-class discussion, and I hope you enjoy and profit from it.
Informed, critical exchange of ideas forms the core of the university learning experience, and therefore in-class participation must play an important role in the final determination of your course grade. You are expected to share ideas during discussions and you are encouraged to ask questions when you do not understand something.
You are allowed three unexcused absences. Following the third, your grade will drop one letter grade per additional absence. Please also bear in mind the note above about the effect of absences on your class participation grade.
Do not be late—a tardy arrival will be counted as half an absence or an entire absence according to my judgment.
Semester schedule
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Week 1.
Introduction to the course:
Definition of strategy;
Vocabulary of strategy;
Levels of strategy;
Model of strategic management;
Strategic management in different contexts.
Seminar: Topical case study written analysis and oral presentation.
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Week 2.
Management in practice: Patterns of strategy development;
Cultural web;
Risk of strategic drift.
Seminar: Topical case study written analysis and oral presentation.
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Week 3.
Competitive environment: Auditing environmental influences;
PEST analysis;
Five forces analysis;
The use of scenarios;
Identifying the organisation' s competitive position.
Seminar: Topical case study written analysis and oral presentation.
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Week 4
Assessment of strategic capabilities: Resource audit;
Competences and core Competences;
Value chain analysis;
SWOT analysis.
Seminar : Topical case study written analysis and oral presentation.
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Week 5.
Stakeholder expectations: Organizational purposes;
Corporate governance;
Cultural context;
Business ethics.
Seminar: Topical case study written analysis and oral presentation.
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Week 6.
Bases of strategic choice: The role of corporate centre;
Bases of SBU' s compatitive advantage;
Strategic clock;
Managing portfolios.
Seminar: Mid-term review. Topical case study written analysis and oral presentation.
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Week 7.
Mid- term exam
In class written mid-term exam.
Seminar: Review of exam questions and results.
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Week 8.
Directions and methods of development:
Alternative directions of strategic development;
Alternative methods of strategic development.
Seminar: Topical case study written analysis and oral presentation.
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Week 9.
Strategy evolution and selection: Assessing suitability, acceptability and feasibility
Selection of strategy.
Seminar: Topical case study written analysis and oral presentation.
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Week 10.
Enabling strategic success: Resources allocation and control;
Critical success factors;
Sustainable competitive advantages.
Seminar: Topical case study written analysis and oral presentation.
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Week 11.
Organisation structure and design: Structural types;
Elements of organization design;
Organisational configuration.
Seminar: Topical case study written analysis and oral presentation.
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Week 12.
Managing strategic change: Key elements of strategic change
Types of change management.
Seminar: Topical case study written analysis and oral presentation..
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Week 13-14.
Inter-dependence of the elements strategic management: summary and practice
Seminar: Topical case written study analysis and final consultation.
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Week 15.
Final exam
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