This document outlines the syllabus for a Managerial Economics course taught at the American University of Madaba. The course is a 3-credit hour course taught on Mondays and Wednesdays from 11:30-1:00. It is instructed by Professor Muhannad Alrosan and aims to provide an overview of microeconomic concepts applied to business management. Assessment includes exams, homework, class participation, and a research paper presentation, which together constitute 100% of the final grade. The course objectives are to help students analyze economic problems, make optimal business decisions using quantitative tools, and understand how demand, costs and pricing relate to profit maximization.

1. AUM
American University of Madaba
Faculty of business and finance.
Department of risk management.
Course Syllabus
Fall 2021-2022
Page 1 of 9
1. Course Specifics
Course Title
Course Number:
Managerial Economics
503420
Course Prerequisite(s) None
Course Co-requisite(s) None
Credit Hours 3
Lecture Days & Time Monday/Wednesday 11:30-1:00
Class Location BA-F21
Course Instructor/s Muhannad Alrosan
Syllabus Approved by:
a. Academic Committee
b. Department Chair
2. Academic Staff Specifics
Name: Muhannad
Alrosan
Academic
Rank:
Professor
Office Number,
Location and Tel.
Ext.05-329-4444
ext. 5417
Office Hours:
Monday 9:00-
11:30;
Tuesday 9:00-
10:00; and
11:30-1:00
Wednesday 9:00-
11:30
Thursday 9:00-
10:00 and by
appointment.
E-mail Address:
m.rosan@aum.edu.jo
3. Course Components
Resources:
Course Textbook: Mark Hirschey, Eric Bentzen, Carsten Scheibye (2019) Managerial Economics,
15th Edition. ISBN: 9781473758353
Also older edition easier to read
Hirschey, Mark (2005) “Fundamentals of Managerial Economics”, 8th ed. South-Western, a
division of Thomson Learning. ISBN# 0-324-31494-9

2. AUM
American University of Madaba
Faculty of business and finance.
Department of risk management.
Course Syllabus
Fall 2021-2022
Page 2 of 9
Course Description:
An overview of the fundamental concepts in microeconomics as they apply to managers in a global
environment, the course covers the use of quantitative and computer applications to determine
optimal levels of output, resource usage and capacity planning, application of appropriate decision-
making models, and mathematical tools for optimal business decisions
Rationale for the course syllabus
The syllabus is an effort to regulate the learning space to be holistic, integral, effective, meaningful, and
relevant in its deliverables and outcomes. This will help in structuring and road-mapping the learning
processes per class and make it conducive to reflection, evaluation, modification, and restructuring when
needed.
Learning Objective:
The basic objective of managerial economics is to analyze economic problems of business and
suggest solutions and help the managers in decision-making. Managerial economics helps managers
to decide on the planning and control of the benefits. Managerial Economics is synchronized
between the planning and control of any institution or firm and hence its importance increases.
Thus, it plays a huge role in business decisions.
Course Intended Learning Outcomes:
Upon successful completion of this course, the student will be able to:
1. Estimate simple revenue and demand functions using simulated observations. Also, set
profit maximizing production levels when given revenue and cost functions.
2. Estimate simple production and cost functions using simulated data from cost accountants or
engineers.
3. Set profit maximizing price levels when markets are not perfectly competitive and when
demand or revenue, and cost functions are given.
4. Writing a paper related to economics.
Program Learning Outcomes (PLOs)
PLO1. Demonstrate a systematic understanding of knowledge in banking and finance and a
critical awareness of current problems and new insights within this discipline.
PLO2. Demonstrate a clear understanding of the major functions of financial markets and
institutions and the financial planning and management process and the components of a
comprehensive financial plan.
PLO3. Disclose basic capabilities to understand straightforward financial data and carry out
simple statistical and financial analysis.
PLO4. Demonstrate the abilities to use appropriate software and apply technology to
accounting and finance to complete business-related tasks and requirements.
PLO5. Demonstrate appropriate workplace behaviors –regular attendance, punctuality,
ability to communicate well with others, and use appropriate problem solving & leadership
skills.
PLO6. Demonstrate an advanced conceptual understanding for evaluating current research,
methodologies and formulating hypotheses and scholarship in banking and finance.
PLO7. Demonstrate the ability to create and maintain positive customer relations by
understanding the practices fostering customer retention and loyalty.

3. AUM
American University of Madaba
Faculty of business and finance.
Department of risk management.
Course Syllabus
Fall 2021-2022
Page 3 of 9
Course Intended learning outcome (CILO) vs. program learning outcomes (PLOs)
[Matrix]
PLOCILO CILO1 CILO2 CILO3 CILO4 CILO5 CILO6
PLO1 X
PLO2 X
PLO3
PLO4
PLO5
PLO6 X
PLO7
Course Requirements:
Students are expected to attend all class sessions, participate in all class activities, complete exams
as scheduled, and turn in all assignments on time. Failure to do so may result in the loss of points.
Classroom Rules of Conduct:
Punctuality is essential. The use of mobile phone is allowed for class attendance, but prohibited
otherwise. To pass the course, the student should attend at least 85% of the classes. University rules
will be applied in case of misconduct.
Make-up Exams: Each student is expected to take all the exams at the designated time and place.
Students who miss any exam without a university-accepted excuse will receive the grade of zero for
the missed exam.
Successful students
Successful students exhibit a combination of successful attitudes and behaviors as well as
intellectual capacity. Successful students . . .
1. . . . are responsible and active. Successful students get involved in their studies, accept
responsibility for their own education, and are active participants in it!
2. . . . have educational goals. Successful students have legitimate goals and are motivated by
what they represent in terms of career aspirations and life's desires.
3. . . . ask questions. Successful students ask questions to provide the quickest route between
ignorance and knowledge.
4. . . . learn that a student and a professor make a team. Most instructors want exactly what you
want: they would like for you to learn the material in their respective classes and earn a
good grade.
5. . . . don't sit in the back. Successful students minimize classroom distractions that interfere
with learning.
6. . . . take good notes. Successful students take notes that are understandable and organized,
and review them often.

4. AUM
American University of Madaba
Faculty of business and finance.
Department of risk management.
Course Syllabus
Fall 2021-2022
Page 4 of 9
7. . . . understand that actions affect learning. Successful students know their personal behavior
affect their feelings and emotions which in turn can affect learning.
8. . . . talk about what they're learning. Successful students get to know something well enough
that they can put it into words.
9. . . . don't cram for exams. Successful students know that divided periods of study are more
effective than cram sessions, and they practice it.
10. . . . are good time managers. Successful students do not procrastinate. They have learned
that time control is life control and have consciously chosen to be in control of their life.
Student Responsibilities:
Students have the right to seize the responsibility for their own destiny and should be
encouraged to do so. With every right comes responsibility!
 I have the responsibility to come to every class prepared to listen, to participate, and to
learn.
 I have the responsibility to read the text carefully, noting important ideas and rephrasing
concepts in my own words.
 I have the responsibility to work examples in the textbook and those given in class.
 I have the responsibility to consult other students, the teacher, an assistant, and other
resources whenever I need the extra help.
 I have the responsibility to understand that the teacher is not primarily responsible for
making me understand, but that it is my job to study and to learn.
 I have the responsibility of keeping an open mind and trying to comprehend what the
teacher is trying to get across.
 I have the responsibility to do every bit of assigned homework with proper attention and
thought.
 I have the responsibility to view my teacher as a partner in my education.
 I have the responsibility to understand that I am not the only student in my class, and that if I
fall behind the class, not all of my catching up is appropriate for the classroom setting.
 I have the responsibility to act as a competent adult.
 I have the responsibility of trying to integrate the concepts being taught into other courses
and other areas of my life.
 I have the responsibility to be polite and open to my teacher and classmates.
 I have the responsibility to accept that my work will be evaluated in terms of what skills any
student in the course is expected to master.

5. AUM
American University of Madaba
Faculty of business and finance.
Department of risk management.
Course Syllabus
Fall 2021-2022
Page 5 of 9
Methods of instruction: Lectures – exercises - Group discussion
Assessment Methods: Homework - Class participation – Examinations
● A final exam is worth 40% of the semester grade. The exam consists of short essay
questions and questions need finding the mathematical solutions.
● Assessment Instruments
Mark
30%
Exams
(20% half this grade on
presentation)
Paper and presentation of the paper
10%
Quizzes, Homework and Participation
40%
Final Exam
100%
Total
Program Learning Outcomes (PLOs)
PLO1. Demonstrate a systematic understanding of knowledge in banking and finance and a critical
awareness of current problems and new insights within this discipline.
PLO2. Demonstrate a clear understanding of the major functions of financial markets and
institutions and the financial planning and management process and the components of a
comprehensive financial plan.
PLO3. Disclose basic capabilities to understand straightforward financial data and carry out simple
statistical and financial analysis.
PLO4. Demonstrate the abilities to use appropriate software and apply technology to accounting
and finance to complete business-related tasks and requirements.
PLO5. Demonstrate appropriate workplace behaviors –regular attendance, punctuality, ability to
communicate well with others, and use appropriate problem solving & leadership skills.
PLO6. Demonstrate an advanced conceptual understanding for evaluating current research,
methodologies and formulating hypotheses and scholarship in banking and finance.
PLO7. Demonstrate the ability to create and maintain positive customer relations by understanding
the practices fostering customer retention and loyalty.

6. AUM
American University of Madaba
Faculty of business and finance.
Department of risk management.
Course Syllabus
Fall 2021-2022
Page 6 of 9
Course Intended learning outcome (CILO) vs. program learning outcomes (PLOs) [Matrix]
PLOCILO CILO1 CILO2 CILO3 CILO4 CILO5
PLO1
PLO2 X
PLO3 X
PLO4 X X
PLO5
PLO6 X
PLO7
Course Calendar (approximate)
Week Topic(s) Chapter
1 Introduction Chapter 1
2 Math tools
2 Economic optimization Chapter 2
3 Demand and supply Chapter 3
4 Demand Analysis Chapter 4
5 Demand Estimation Chapter 5
Exam 15%
6 Production Analysis and
Compensation Policy
Chapter 7
7 Production Analysis and
Compensation Policy
Chapter 7
8 Cost Analysis and Estimation Chapter 8
9 Exam 15%
10 Competitive market Chapter 10
11 Monopoly and Monopsony Chapter 12
12 Monopolistic Competition and
Oligopoly
Chapter 13
13 Pricing Practices Chapter 15
14 Performance and strategy in
Competitive Markets
Chapter 11
15 Forecasting Chapter 6
15 Presentation
16 Final Exam 40%
Academic Dishonesty: Academic dishonesty will be dealt with in the strictest possible manner as
per the University guidelines. Students are expected to exhibit honesty in all work. Students found
cheating are subject to the penalties outlined in the Policies and Procedures section of the
University Catalog.

7. AUM
American University of Madaba
Faculty of business and finance.
Department of risk management.
Course Syllabus
Fall 2021-2022
Page 7 of 9
Plagiarism: Plagiarism is the presentation of someone else’s ideas or work as one’s own. Students
found plagiarizing are subject to the penalties outlined in the Policies and Procedures section of the
University Catalog.
Paper Assignment (20% half of it on presentation):
The assignment should be 10 to 12 pages (typed, double-spaced, 12-pt font- Times New Roman). It
should be written in the third person and include the following:
1. Introduction:
a. The purpose.
b. Why it is important. Articulate the practical and theoretical dimensions of the problem
as well as the expected contribution of the study – to business and to discipline.
2. Review of the literature— This will NOT include your opinion, but rather, the opinions of
those already published. – Literature Review to support the study, which includes:
Introduction to the Literature Review; Literature to support the problem; Literature to support
the global model or environment; Literature to support the research model or environment;
Literature to support the hypotheses; Literature to support the variable definitions and
measurements.
What a Review of Literature should do:
 A Review of Literature is the most important part of your paper (or chapter in a
dissertation/thesis).
 It identifies, describes, evaluates, and summarizes the current information in your field.
 It presents and analyzes the empirical and theoretical sources covering your variables.
 It demonstrates your mastery and understanding of your chosen field.
 Doing a thorough Review of Literature takes time. Each book, article, or web site must be
read and reviewed for ideas that will help your project. Identify how each piece can help
you, and where. A thorough Review of Literature is critical to all other aspects of your
dissertation!
Reading articles is a skill you need to develop. When reading, it is useful to think about the
following questions:
1. What question is the article trying to answer (question)?
2. Why is the question interesting (motivation)?
3. How does the article answer the question (method)?
4. What are the main results (findings)?
5. What are potential problems with the interpretation of results put forward by the authors
(limitations)?
6. What potential policy conclusions can you draw from the findings (policy)?
One useful reading strategy is to start with a careful reading of the introduction of the article, then
skim through the tables and figures and read the conclusion. After this you should delve into the
article and try to understand its main message. This is a useful strategy because most of the articles
will have a thorough introduction in which they discuss all six questions mentioned above. You
should note that you are not expected to understand all the technical details of the articles but you
should be able to understand and intuitively explain their results and potential limitations.

8. AUM
American University of Madaba
Faculty of business and finance.
Department of risk management.
Course Syllabus
Fall 2021-2022
Page 8 of 9
3. Methodology: how you go about answering the research question in your paper is your
methodology. It is your strategy for discovering the answer systematically. Define terms,
review of the literature, describe the setting, time observed, survey of interviews—who, etc, and
indicate the focus of your observation. Research Methodology, which includes: Introduction to
the methodology, Research strategy, Research population, Sampling methodology,
Instrumentation, Research sample, Method for establishing validity, Reliability test results, and
Data analysis methodology
4. Bibliography (References): All references and citations are to be in current APA style – An
APA’s Web site provides answers to frequently asked questions about style
(http://www.apa.org)
Citing a book with one author:
Stewart, K. G. (2005). Introduction to applied econometrics. Belmont:ThomsonLearning.
Citing an article in a journal:
Alqaisi, K. (2006). Economic Analysis of Regional Economic Integration. American
Association of Behavioral and Social Sciences Journal, 9, 45-56.
Citing an abstract of a journal article:
Emery, R. E. (2002). Marital turmoil: Interpersonal conflict and the children of discord and
divorce. Psychological Bulletin, 2, 310-330. Abstract obtained from Psychological
Abstract, 2002, 69, Item 1320.
Citing an article in a magazine:
Casey, J. (2014, January 17). Final offer. The New Yorker, 40-46.
Citing an article in a newspaper:
Casey, J. (2009, January 7). Kill all the bacteria! The Washington Post, pp. B1, B3.
Citing an article in an online journal:
El-Mefleh, M. (2005). Economic Role of the State in the Era of Globalization. American
Association of Behavioral & Social Sciences Journal. Retrieved August 25, 2014, from
(website address)
Citing a journal article from an electronic database:
Wilkins, J. M, (1999). The myth of the only child. Psychology Update 11(1), 16-23.
Retrieved December 20, 2008, from ProQuest Direct database.
Citing an abstract from an electronic database:
Wilkins, J. M, (1999). The myth of the only child. Psychology Update 11(1), 16-23.
Abstract retrieved December 20, 2008, from ProQuest Direct database.
5. Analyses
6. Findings
7. Conclusion.
8. Paper is due 10 days before the start of final exams.
Diversity: Learning to work with and value diversity is essential in every business program.
Students are required to act respectfully toward other students and instructors throughout the course.
Students are also expected to exhibit an appreciation for multinational and gender diversity in the
classroom and develop management skills and judgment appropriate to such diversity in the
workplace.
Civility: As a diverse community of learners, students must strive to work together in a setting of
civility, tolerance, and respect for each other and for the instructor. Rules of classroom behavior
include but are not limited to the following: Conflicting opinions among members of a class are to
be respected and responded to in a professional manner. Side conversations or other distracting

9. AUM
American University of Madaba
Faculty of business and finance.
Department of risk management.
Course Syllabus
Fall 2021-2022
Page 9 of 9
behaviors are not to be engaged in during lectures, class discussions or presentations. There are to
be no offensive comments, language, or gestures.
Ethics: Ethical behavior in the classroom is required of every student. Students are also expected to
identify ethical policies and practices relevant to course topics.