316-328 Marketing Economics

316-202 Intermediate Microeconomics.

Techniques of microeconomic theory are reviewed and then applied to evaluate business choice options and government policy options affecting marketing activities in such areas as setting prices, market segmentation, advertising, product mix, forms of contracts and consumer protection legislation. Topics covered will include marketing as an economic activity; explanations of and forecasting market outcomes, setting prices in different market structure situations; joint product pricing; storage, transport, processing and distribution choices; buyer-seller contracting under different information situations; promotion and advertising; government policy, including provision of information, consumer protection; and transaction costs and marketing efficiency.

• High level of development: oral communication; written communication; problem solving; statistical reasoning; application of theory to practice; critical thinking; evaluation of data and other information.

• Moderate level of development: collaborative learning; team work; synthesis of data and other information; receptiveness to alternative ideas.

• Some level of development: interpretation and analysis; use of computer software; accessing data and other information from a range of sources.

A 2-hour end-of-semester examination (70%) in-course assessment totalling not more than 3000 words (30%).