| 授業名 | Business Economics |
|---|---|
| Course Title | Business Economics |
| 担当教員 Instructor Name | Ku Fred Kei-tat |
| コード Couse Code | GLP157_G22N |
| 授業形態 Class Type | 講義 Regular course |
| 授業形式 Class Format | Live Virtual |
| 単位 Credits | 2 |
| 言語 Language | EN |
| 科目区分 Course Category | 応用科目200系 / Applied |
| 学位 Degree | MSc in Management |
| 開講情報 Terms / Location | 2022 GSM Nagoya Spring |
授業の概要 Course Overview
Misson Statementとの関係性 / Connection to our Mission Statement
The MBA programs of the NUCB Business School are characterised by an emphasis on practical education. The course Business Economics employs the case method to provide students with an economic toolkit that help them make better business decisions and solve business problems.
授業の目的（意義） / Importance of this course
A thorough understanding of economics is important for managers because economic principles are behind almost all kind of managerial activities. The course focuses on microeconomic insights, and we will discuss issues related to decision analysis, demand forecasting, competition and market analysis, pricing strategies, and strategic decision-making.
到達目標 / Achievement Goal
Students will be able to analyse real-world business problems with systematic frameworks that will guide them to better decisions.
本授業の該当ラーニングゴール Learning Goals
*本学の教育ミッションを具現化する形で設定されています。
LG1 Critical Thinking
LG4 Effective Communication
LG5 Executive Leadership (EMBA)
LG7 Global Perspective (GLP)
LG4 Effective Communication
LG5 Executive Leadership (EMBA)
LG7 Global Perspective (GLP)
受講後得られる具体的スキルや知識 Learning Outcomes
By the end of the course, you will be able to:
・Apply tools in business economics in the solution of managerial problems in business;
・Assess the importance of being able to estimate demand and make business forecasts;
・Design competition strategies according to the structures of the markets and competition;
・Analyse real-world business problems with a systematic theoretical framework.
・Apply tools in business economics in the solution of managerial problems in business;
・Assess the importance of being able to estimate demand and make business forecasts;
・Design competition strategies according to the structures of the markets and competition;
・Analyse real-world business problems with a systematic theoretical framework.
SDGsとの関連性 Relevance to Sustainable Development Goals
Goal 4 質の高い教育をみんなに（Quality Education）
教育手法 Teaching Method
| 教育手法 Teaching Method | % of Course Time | |
|---|---|---|
| インプット型 Traditional | 25 % | |
| 参加者中心型 Participant-Centered Learning | ケースメソッド Case Method | 65 % |
| フィールドメソッド Field Method | 10 % | 合計 Total | 100 % |
事前学修と事後学修の内容、レポート、課題に対するフィードバック方法 Pre- and Post-Course Learning, Report, Feedback methods
Basic understanding of microeconomics is expected. The PowerPoint notes provides you with the fundamental knowledge needed.
We will use cases heavily, and each case comes with a set of questions. You will need to read through the cases and prepare your own answers. Given the tight class schedule, you are strongly advised to work through the cases before the beginning of the classes. You will also be given class activities and tasks to be completed in small groups. These tasks are not included in the syllabus and will be given in class.
Class Participation: The course is designed to be participation-cantered, which means that everyone would expect you to devote a fair amount of time in preparing for the class and case discussion. In the class discussion, you are not only responsible for your own learning, but also the learning of others.
Pre-Class Task: Take a creative selfie with a card (or something else) that shows your nickname. Be creative, but make sure I recognise you! Copy and paste the selfie to a MS-Word document, and submit it to me via Google Classroom with one sentence about you – it may be your personality, talents, weakness or whatever that you want me to know. Again, be creative!
Preparation and Simulator Exercise Reports: To facilitate better preparation and understanding on the case and simulation game, you will need to submit a case preparation report and a simulation game report. Working on these reports and discussing it with your group-mates will enhance your understanding and benefit our class discussion.
Final Essay: It tests your understanding and provides you with an opportunity to reflect on the material learnt in the class.
We will use cases heavily, and each case comes with a set of questions. You will need to read through the cases and prepare your own answers. Given the tight class schedule, you are strongly advised to work through the cases before the beginning of the classes. You will also be given class activities and tasks to be completed in small groups. These tasks are not included in the syllabus and will be given in class.
Class Participation: The course is designed to be participation-cantered, which means that everyone would expect you to devote a fair amount of time in preparing for the class and case discussion. In the class discussion, you are not only responsible for your own learning, but also the learning of others.
Pre-Class Task: Take a creative selfie with a card (or something else) that shows your nickname. Be creative, but make sure I recognise you! Copy and paste the selfie to a MS-Word document, and submit it to me via Google Classroom with one sentence about you – it may be your personality, talents, weakness or whatever that you want me to know. Again, be creative!
Preparation and Simulator Exercise Reports: To facilitate better preparation and understanding on the case and simulation game, you will need to submit a case preparation report and a simulation game report. Working on these reports and discussing it with your group-mates will enhance your understanding and benefit our class discussion.
Final Essay: It tests your understanding and provides you with an opportunity to reflect on the material learnt in the class.
授業スケジュール Course Schedule
第1日（Day1）
Session 1Theme: Decision Analysis
Case:
o Freemark Abbey Winery (Abridged) (HBS 9-606-004)
Articles and other readings:
o PowerPoint notes on “Decision Analysis”, Fred Ku
o Wu and McGinn (2017), “Decision Analysis”, Harvard Business School (917018)
o Amy Gallo (2014), “A Refresher on Net Present Value”, Harvard Business School (H012SI)
Session 2
Theme: Demand Analysis and Forecasting
Case:
o Metabical: Pricing, Packaging, and Demand Forecasting for a New Weight-Loss Drug (HBS 4183)
Articles and other readings:
o PowerPoint notes on “Demand and Simple Pricing”, Fred Ku
o Chapter 2 and 3, Principles of Economics: Microeconomics, MR University, URL: https://www.mruniversity.com/courses/principles-economics-microeconomics
o Dolan and Gourville (2014), “Marketing Reading: Pricing Strategy”, Harvard Business School (8203)
●使用するケース
o Freemark Abbey Winery (Abridged) (HBS 9-606-004)o Metabical: Pricing, Packaging, and Demand Forecasting for a New Weight-Loss Drug (HBS 4183)
第2日（Day2）
Session 3Theme: Competition and Market Analysis: Market Analysis and Government Policy
Case:
o Khao Yai Winery: An Economic Perspective (Ivey Publishing W17106)
Articles and other readings:
o PowerPoint notes on “Market and Strategy”, Fred Ku
o Chapter 3, 4, 7, 8, Principles of Economics: Microeconomics, MR University, URL: https://www.mruniversity.com/courses/principles-economics-microeconomics
o Porter (2008), “The Five Competitive Forces That Shape Strategy”, Harvard Business Review (R0801E)
o Corts and Rivkin (1999), “Note on Microeconomics for Strategists”, Harvard Business School (9-799-128)
Session 4
Theme: Pricing Strategies
Case:
o Pink Tax: Gender and Other Price Discrimination Factors (WDI Publishing W04C92)
Articles and other readings:
o PowerPoint notes on “Complex Pricing”, Fred Ku
o Chapter 12, Principles of Economics: Microeconomics, MR University, URL: https://www.mruniversity.com/courses/principles-economics-microeconomics
o Dhebar (1990), “Price Discrimination”, Harvard Business School (9-191-105)
●使用するケース
o Khao Yai Winery: An Economic Perspective (Ivey Publishing W17106)o Pink Tax: Gender and Other Price Discrimination Factors (WDI Publishing W04C92)
第3日（Day3）
Session 5Theme: Strategic Decision-Making I: Preliminaries
Case:
o Competition Simulator Exercise: Instructions (HBS 9-712-498)
Articles and other readings:
o PowerPoint notes on “Strategic Analysis”, Fred Ku
o Chapter 17, Principles of Economics: Microeconomics, MR University, URL: https://www.mruniversity.com/courses/principles-economics-microeconomics
o Brandenburger and Nalebuff (1995) “Right Game: Use Game Theory to Shape Strategy”, Harvard Business School (95402)
o Oberholzer-Gee and Yao (2007) “Game Theory and Business Strategy”, Harvard Business School (9-705-471)
Session 6
Theme: Strategic Decision-Making II: Static Game
Case:
o Pricing Games: Sony PlayStation and Microsoft Xbox (WDI Publishing W88C82)
Articles and other readings:
o PowerPoint notes on “Strategic Analysis”, Fred Ku
o Krishna (1987), “Games of Strategy: An Introduction”, Harvard Business School (9-187-159)
o Brandenburger and Nalebuff (1995), “Right Game: Use Game Theory to Shape Strategy”, Harvard Business School (95402)
o Oberholzer-Gee and Yao (2007), “Game Theory and Business Strategy”, Harvard Business School (9-705-471)
o Chapter 17, Principles of Economics: Microeconomics, MR University, URL: https://www.mruniversity.com/courses/principles-economics-microeconomics
●使用するケース
o Competition Simulator Exercise: Instructions (HBS 9-712-498)o Pricing Games: Sony PlayStation and Microsoft Xbox (WDI Publishing W88C82)
第4日（Day4）
Session 7Theme: Strategic Decision-Making III: Field Experience – Competition in Action
Case:
o Business Competition Simulation Game (CUHK Business School)
Intro – Business Competition Simulation Game
Monopoly
Cournot Competition
Stackelberg Competition
The Competition Game
o URL: https://www.youtube.com/playlist?list=PLCC1x1H553rdlL0i8PtrQge80c2IZC-wv
Articles and other readings:
o PowerPoint notes on “Strategic Analysis”, Fred Ku
o Chapter 9, 11 and 17, Principles of Economics: Microeconomics, MR University, URL: https://www.mruniversity.com/courses/principles-economics-microeconomics
o Brandenburger and Nalebuff (1995) “Right Game: Use Game Theory to Shape Strategy”, Harvard Business School (95402)
o Oberholzer-Gee and Yao (2007) “Game Theory and Business Strategy”, Harvard Business School (9-705-471)
Session 8
Theme: Strategic Decision-Making IV: Dynamic Game
Case:
o Should Maruti Suzuki Invest in Electric Cars? (Ivey Publishing W18345)
Articles and other readings:
o PowerPoint notes on “Strategic Analysis”, Fred Ku
o Krishna (1987), “Games of Strategy: An Introduction”, Harvard Business School (9-187-159)
o Brandenburger and Nalebuff (1995) “Right Game: Use Game Theory to Shape Strategy”, Harvard Business School (95402)
o Oberholzer-Gee and Yao (2007) “Game Theory and Business Strategy”, Harvard Business School (9-705-471)
o Chapter 17, Principles of Economics: Microeconomics, MR University, URL: https://www.mruniversity.com/courses/principles-economics-microeconomics
●使用するケース
o Business Competition Simulation Game (CUHK Business School) URL: https://www.youtube.com/playlist?list=PLCC1x1H553rdlL0i8PtrQge80c2IZC-wvo Should Maruti Suzuki Invest in Electric Cars? (Ivey Publishing W18345)
成績評価方法 Evaluation Criteria
*成績は下記該当項目を基に決定されます。
*クラス貢献度合計はコールドコールと授業内での挙手発言の合算値です。
*クラス貢献度合計はコールドコールと授業内での挙手発言の合算値です。
| 講師用内規準拠 Method of Assessment | Weights |
|---|---|
| コールドコール Cold Call | 0 % |
| 授業内での挙手発言 Class Contribution | 60 % |
| クラス貢献度合計 Class Contribution Total | 60 % |
| 予習レポート Preparation Report | 20 % |
| 小テスト Quizzes / Tests | 0 % |
| シミュレーション成績 Simulation | 0 % |
| ケース試験 Case Exam | 0 % |
| 最終レポート Final Report | 20 % |
| 期末試験 Final Exam | 0 % |
| 参加者による相互評価 Peer Assessment | 0 % |
| 合計 Total | 100 % |
評価の留意事項 Notes on Evaluation Criteria
教科書 Textbook
- Luke M. Froeb, Brian T. McCann, Michael R. Ward and Mike Shor「Managerial Economics: A Problem Solving Approach」Cengage Learning（2018）9781337106665
- Michael Baye and Jeff Prince「Managerial Economics and Business Strategy」McGraw-Hill Education（2022）9781260940541
- David Dranove, David Besanko, Mark Shanley and Scott Schaefer「Economics of Strategy」Wiley（2017）9781119042310
参考文献・資料 Additional Readings and Resource
1. Course notes
2. Other mini-cases and articles for class discussion will be provided
3. J. Perloff, Microeconomics, 7th Edition, Pearson, 2014
4. Dixit, Reiley & Skeath, Games of Strategy, 4thEdition, WW Norton, 2015
5. Pepall, Richards, and Norman, Industrial Organization - Contemporary Theory and Empirical Applications, 5thEdition, Wiley, 2013
6. For those who has limited background in economics: Principles of Economics: Microeconomics offered by Marginal Revolution University will provide you will a good fundamental understanding.
URL: https://www.mruniversity.com/courses/principles-economics-microeconomics
2. Other mini-cases and articles for class discussion will be provided
3. J. Perloff, Microeconomics, 7th Edition, Pearson, 2014
4. Dixit, Reiley & Skeath, Games of Strategy, 4thEdition, WW Norton, 2015
5. Pepall, Richards, and Norman, Industrial Organization - Contemporary Theory and Empirical Applications, 5thEdition, Wiley, 2013
6. For those who has limited background in economics: Principles of Economics: Microeconomics offered by Marginal Revolution University will provide you will a good fundamental understanding.
URL: https://www.mruniversity.com/courses/principles-economics-microeconomics
授業調査に対するコメント Comment on Course Evaluation
The course aims to provide students with economic insights to a wide range of managerial and business decisions in a business setting. It requires prior knowledge in economics, business, and game theory. Industry experience will be helpful, too. Students will need to devote enough time to read and fully prepare the cases as well as important readings. Additional materials will be provided for class discussion, and you may need to spend the time after class to discuss with your group-mates, too.
To help you work on the cases, I have prepared a set of notes covering specific concepts / tools that you need to know. Please read them before you work on the case if you do not have the prior knowledge.
For those who have not studied economics before (or those who want to refresh the memory), please also read any undergraduate level microeconomics textbook. A good online reference is "Principles of Economics: Microeconomics" provided by Marginal Revolution University (URL: https://www.mruniversity.com/courses/principles-economics-microeconomics).
You will need to actively participate in the class discussion in order to pass, and more importantly, to learn.
To help you work on the cases, I have prepared a set of notes covering specific concepts / tools that you need to know. Please read them before you work on the case if you do not have the prior knowledge.
For those who have not studied economics before (or those who want to refresh the memory), please also read any undergraduate level microeconomics textbook. A good online reference is "Principles of Economics: Microeconomics" provided by Marginal Revolution University (URL: https://www.mruniversity.com/courses/principles-economics-microeconomics).
You will need to actively participate in the class discussion in order to pass, and more importantly, to learn.
担当教員のプロフィール About the Instructor
Dr. Fred Ku is an experienced faculty member of the Chinese University of Hong Kong (CUHK) Business School. He received his BBA and PhD degrees from the Hong Kong University of Science and Technology (HKUST), and joined the Department of Decision Sciences and Managerial Economics, CUHK Business School in 2009.
With expertise in business economics, he teaches courses in microeconomics, macroeconomics, managerial economics, business statistics and analytics for EMBA, MBA, MAcc, MSc and UG programs in Hong Kong and Japan. Dr. Ku has published a book on economics, and has been an active case contributor to popular economics textbooks. He is also the author of 7 written teaching cases. As a pioneering educator, he supervised the production of more than 10 video and written teaching cases, and developed various teaching and learning material, including a business competition simulation game. His prominent contribution to teaching and learning has been recognised by various teaching awards and grants.
Dr. Ku contributes to the professional community by conducting professional seminars and training workshops for Education Bureau, Hong Kong SAR Government. He also provides consultancy service for Trade and Industry Department of Hong Kong Government and other private enterprises. He is also a regular speaker for a popular radio show in Hong Kong.