Business Economics and Modern Practice
| Tentative Syllabus | Summer 2017 | Page updated: 7 July 2017 |
| Faculty of Economics | EBA Program | Chulalongkorn University, Bangkok, Thailand |

Business Economics and Modern Practice (Course code: 2952261)
The official catalog description is this: "Introduction to business economics and modern practice; critical factors contributing to business success in the world today; analysis of various concepts, objectives, policies and strategies of firms under competitive environment and socio-cultural factors and technology undergoing rapid changes; modern and wide-ranging topics on business economics." There is a slight overlap with "2952461 Special Topics in Managerial Economics," "2952271 Financial Report and Analysis for Economists," and with "2952306 Industrial Organization." In our course, we focus on economic aspects of business strategy; competition analysis in global markets and, in particular, on large corporations in their post-entrepreneurial phase. The course uses a sophisticated, whole-of-enterprise business simulation in a competitive global production and consumption environment. Ethical decisionmaking and corporate social responsibility are important components of this simulation and of the course.

All times and deadlines listed in this syllabus are in Bangkok time.
Please have your Chulalongkorn student ID card with you at all times.

Class time: 9am-12pm
Class rooms
: Tu & Th (Mahit Bldg Rm 710); Fr (Econ Bldg Rm 409/412)
Class size
: The class size is strictly limited to a maximum of 30 students (6 teams of 5 students each).
Office room/hours: Econ Bldg Rm 310/1.1 (Tu & Th 4-5pm) | Email: ajarn [dot] jurgen [at] gmail [dot] com
Midterm: Tu 27 June 2017 (9am-12pm; computer lab 2) | Final: Th 20 July 2017 (9am-12pm; computer lab 2)

Academic honesty, class attendance, and expected classroom behavior: Please refer to the relevant university policies. Academic dishonesty is not tolerated and results in expulsion from class, a failing grade for the entire course, and reporting to the university authorities. This includes cheating, ghostwriting, plagiarism, or other forms of dishonesty on any assigned work. If you have enrolled in this class, you explicitly promise and agree not to engage in any form of academic misconduct whatsoever. You also explicitly promise and agree to report other students to your teacher and to the EBA Program Director if you know or suspect that a classmate is violating this agreement. Classroom behavior that permits unimpeded exchange of academically relevant ideas and views is expected. Unless required for class, turn off cell phones or other electronic devices and put them out of sight. Individual class attendance is mandatory, as is team meeting attendance. You cannot come late, you cannot leave early, and for the duration of class you must be 100% alert. I expect students' personal conduct to be courteous, professional, and business-like at all times.

Assessment:
Team-based (30%)
- 10%: Based on the overall Company Performance Score of the Business Strategy Game (BSG) [Game course ID: Chula_2017].
- 10%: Strategic Plan #1 (scoring is based on company performance relative to your own plan).
- 10%: Strategic Plan #2 (scoring is based on company performance relative to your own plan).

Individual-based (70%)
- 10%: BSG Quiz #1 (on the BSG Player's Guide; open book; 120 minutes; no retake opportunity).
- 20%: Midterm exam: BSG Quiz #2 (on your company's financials; open resources within BSG; 180 minutes; no retake opportunity).
- 20%: Final exam: BSG post-simulation comprehensive exam (open resources within BSG; 180 minutes; no retake opportunity).
- 10%: BSG Peer Evaluation #1 (mid-game; strictly anonymous).
- 10%: BSG Peer Evaluation #2 (post-game; strictly anonymous).
[Copy of the Peer Evaluation Form here].

Extra credit (2 assignments, each worth a max. of five additional percentage points added to your earned course grade)
- Instructions [here]; Presentation Evaluation form [here]

Grading: 90%+ = A; 85%+ = B+; 80%+ = B; 75%+ = C+; 70%+ = C; 65%+ = D+; 60% = D; <60% = F.
[Grades are not rounded up, or down.] [Grades here]

Required materials:
The Business Strategy Game ( www.bsg-online.com ) [USD44.95 by debit/credit card only. BSG is a high-powered global business simulation.]

Readings and lecture notes: Study materials (pdf and ppt) are copyright-protected and available on password protected websites. As a courtesy to you, you may use them for study in this class, but you may not distribute any of the files to anybody else. Please respect the authors' and publishers' work.


Tentative class schedule and syllabus: Check before each class period to see whether any needed materials have been posted.
User name/password
: The syllabus posted here is publicly viewable, of course, but readings, lecture notes, handouts, grades, and other materials are for the private use of class members only. I will make a usn/psw available on the first day of class, and in class only (not by email).

Week 1

Tu 6 June - Class meeting [9am - Mahit Bldg Rm 710]
Session 1:
- Course introduction, overview, and syllabus
- Introduction to the Business Strategy Game (BSG) [ppt] [pdf]
- Random drawing of 6 management teams [5 students per team]
- Register the management teams
- Registration codes [Industry 1]
Session 2:
- Watch BSG 13-minutes-long intro video as a class
- Q&A and discussion of simulation and of the course
- Teams watch other videos a/o read the 2017 BSG Player's Guide.
- Note: Quiz #1 available on Tu 6 June at 10pm

W 7 June - Assignments
Individual:
- Read & mark-up the 2017 BSG Player's Guide
Team:
- Discuss the 2017 BSG Player's Guide
- Teams work on Player's Guide/chapter 1 exercises [here]

Th 8 June - Class meeting [9am - Mahit Bldg Rm 710]
Session 1:
- Market structure models [pdf]
Session 2
:
- Price elasticity & price flexibility models [pdf]

Fr 9 June - Assignments
Individual
:
- BSG Quiz 1 (on the BSG Player's Guide) due by 8pm [open book; time limit: 120 minutes; no retake opportunity] [sample questions here]
Team:
- BSG Practice Round # 1 [Year 11] decision entries due by 10pm

Sa 10 June - Assignments
Individual:
- [none]
Team:
- BSG Practice Round # 2 [Year 12] decision entries due by 10pm

Su 11 June. BSG data reset by 4pm. Do not enter BSG decisions for the actual simulation before Su 11 June, 4pm.

Week 2

Tu 13 June - Class meeting [9am - Mahit Bldg Rm 710]
Session 1:
- Financial ratios & analysis [ppt] [pdf] [sample]
[Bring to class a printout of your company records for the Year 12 practice round so that you and your team can follow the computations for your company.]
Session 2:
- [continued]
- Teams work on financial analysis & decision entries

W 14 June - Assignments
Individual:
- [none]
Team:
- BSG Round # 1 [Year 11] decision entries due by 10pm

Th 15 June - Class meeting [9am - Mahit Bldg Rm 710]
Session 1:
- Ch. 2: Charting a Company’s Long-Term Direction: Vision, Objectives, and Strategy
- Textbook [text]; lecture slides [ppt] [pdf]
Session 2:
- [continued]
- Teams work on end-of-chapter [questions] a/o decision entries

Th 15 June - Assignments
Individual:
- [none]
Team:
- Discuss and prepare responses to the many questions in textbook ch. 3, the ch. 3 lecture sides, and the ch. 3 end-of-chapter questions.

Fr 16 June - Team meetings [9am - Econ Bldg Rm 409]
- Ch. 3: Evaluating a Company’s External Environment
- Textbook [text]; lecture slides [ppt] [pdf]; end-of-chapter [questions]
- Aj. Jurgen meets with the teams: Surprise questions & discussion.
- Penalty applies for the whole team if any one member is late by even one second.
- Team A: 9:00-9:25; Team B: 9:30-9:55; Team C: 10:00-10:25;
- Team D: 10:30-10:55; Team E: 11:00-11:25; Team F: 11:30-11:55

Sa 17 June - Assignments
Individual:
- [none]
Team:
- BSG Round # 2 [Year 12] decision entries due by 10pm

Week 3

M 19 June - Assignments
Individual:
- Read, outline, and memorize the key facts of Case #1
- Decide (for yourself) what price Beauregard should charge, and why
Team:
- [none]

Tu 20 June - Class meeting [9am - Mahit Bldg Rm 710]

Session 1:
- Case #1 [pdf] [Students will be called on at random]
Session 2:
- [continued] [xls]
- Teams work on decision entries

W 21 June - Assignments
Individual:
- [none]
Team:
- BSG Round # 3 [Year 13] decision entries due by 10pm

Th 22 June - Team meetings [9am - Mahit Bldg Rm 710]

- Aj. Jurgen meets with the teams: Surprise questions & discussion.
- Penalty applies for the whole team if any one member is late by even one second.
- Team A: 9:00-9:25; Team B: 9:30-9:55; Team C: 10:00-10:25;
- Team D: 10:30-10:55; Team E: 11:00-11:25; Team F: 11:30-11:55

Sa 24 June - Assignments
Individual:
- [none]
Team:
- BSG Round # 4 [Year 14] decision entries due by 10pm
- BSG Peer Evaluation #1 available online at 11pm

Su 25 June - Assignment
Individual:
- BSG Peer Evaluation #1 due by 10pm [If you do not complete your online evaluations of your peers by the stated deadline, then you cannot take the midterm exam and your grade will be zero.]
Team:
- [none]

Week 4

Tu 27 June - Midterm exam period [9am - Computer lab 2]
- Midterm exam: BSG Quiz #2 [heavy on company financials; online; open resources within BSG; time limit: 180 minutes; you must bring your most recent company printouts (from Round #4); no notes on print-outs permitted; bring nonprogrammable hand calculator & pencil] [sample questions here]

W 28 June - Assignments
Individual:
- [none]
Team:
- BSG Strategic Plan #1 for Years 15, 16, & 17 due by 10pm
- BSG Round # 5 [Year 15] decision entries due by 10pm
- Discuss and prepare responses to the many questions in textbook ch. 4, the ch. 4 lecture sides, and the ch. 4 end-of-chapter questions.

Th 29 June - Team meetings [9am - Mahit Bldg Rm 710]
- Ch. 4: Evaluating a Company's Resources and Ability to Compete
- Textbook [text]; lecture slides [ppt] [pdf]
; end-of-chapter [questions]
- Aj. Jurgen meets with the teams: Surprise questions & discussion.
- Penalty applies for the whole team if any one member is late by even one second.
- Team A: 9:00-9:25; Team B: 9:30-9:55; Team C: 10:00-10:25;
- Team D: 10:30-10:55; Team E: 11:00-11:25; Team F: 11:30-11:55

Sa 1 July - Assignment
Individual:
- [none]
Team:
- BSG Round # 6 [Year 16] decision entries due by 10pm

Week 5

M 3 July - Assignments
Individual:
- [none]
Team:
- Discuss and prepare responses to the many questions in textbook ch. 5, the ch. 5 lecture sides, and the ch. 5 end-of-chapter questions.

Tu 4 July - Team meetings [9am - Mahit Bldg Rm 710]
- Ch. 5: The Five Basic Competitive Strategy Options
- Textbook [text]; lecture slides [ppt] [pdf]; end-of-chapter [questions
]
- Aj. Jurgen meets with the teams: Surprise questions & discussion.
- Penalty applies for the whole team if any one member is late by even one second.
- Team A: 9:00-9:25; Team B: 9:30-9:55; Team C: 10:00-10:25;
- Team D: 10:30-10:55; Team E: 11:00-11:25; Team F: 11:30-11:55


W 5 July - Assignments
Individual:
- [none]
Team
:
- Discuss and prepare responses to the many questions in textbook ch. 6, the ch. 6 lecture sides, and the ch. 6 end-of-chapter questions.
- BSG Round # 7 [Year 17] decision entries due by 10pm

Th 6 July - Team meetings [9am - Mahit Bldg Rm 710]
- Ch. 6: Supplementing the Chosen Competitive Strategy
- Textbook [text]; lecture slides [ppt] [pdf]; end-of-chapter [questions]
- Aj. Jurgen meets with the teams; penalty applies for the whole team if any one member is late by even one second.
- Team A: 9:00-9:25; Team B: 9:30-9:55; Team C: 10:00-10:25;
- Team D: 10:30-10:55; Team E: 11:00-11:25; Team F: 11:30-11:55


Th 6 July - Assignments
Individual:
- [none]
Team:
- [none]

Fr 7 July - Team meetings [9am - Econ Bldg 412]
- Aj. Jurgen meets with the teams: Surprise questions & discussion.
- Penalty applies for the whole team if any one member is late by even one second.
- Team A: 9:00-9:25; Team B: 9:30-9:55; Team C: 10:00-10:25;
- Team D: 10:30-10:55; Team E: 11:00-11:25; Team F: 11:30-11:55

Sa 8 July - Assignments
Individual:
- [none]
Team
:
- BSG Strategic Plan #2 for Years 18, 19, & 20 due by 10pm
- BSG Round # 8 [Year 18] decision entries due by 10pm

Week 6

W 12 July - Assignments
Individual:
- Read, outline, and memorize the key facts of Case #2
Team:
- BSG Round # 9 [Year 19] decision entries due by 10pm

Th 13 July - Class meeting [9am - Mahit Bldg Rm 710]
Session 1:
- Case #2 [pdf] [Students will be called on at random]
Session 2:
- [continued]
- Teams work on decision entries

Th 13 July - Assignments
Individual:
- [none]
Team:
- Teams prepare their ch. 9 case study presentations
- Some tips: How to present your chs 9 and 12 cases [ppt] [pdf]

- Copy of presentation assignment [here]
- Copy of presentation evaluation form [here]
- Team presentation files due to Aj. Jurgen by 10pm on the day prior to your presentation (no exceptions; no second chances; test your file on the classroom equipment). You may use any presentation software you wish but must send the instructor either a PowerPoint or Keynote version.


Fr 14 July - Class meeting [9am - Econ Bldg 412]
Sessions 1 & 2
:
- Ch. 9: Strategy, Ethics, and Social Responsibility; textbook [text]; textbook slides [ ppt pdf]; end-of-chapter [questions]
- Teams A, B, C, D, E, and F each present their chapter 9 case studies (15 minutes minimum to 20 minutes maximum each; penalties apply)
- Teams to present are chosen in random order; two speakers to present are chosen at random as well
- Nonpresenting teams grade the performance of the presenting teams
- Team 1: 9:00-9:20; Team 2: 9:25-9:45; Team 3: 9:50-10:10; Team 4: 10:15-10:35; Team 5: 10:40-11:00; Team 6: 11:05-11:25

Sa 15 July - Assignments
Individual:
- [none]
Team:
- BSG Round # 10 [Year 20] decision entries due by 10pm
- The BSG simulation is now completed

Week 7

M 17 July - Assignments
Individual:
- [none]
Team:
- Teams prepare their ch. 12 case study presentations

Tu 18 July - Class meeting [9am - Mahit 710]
Sessions 1 & 2
:
- Ch. 12: Corporate Culture and Leadership; textbook [text]; textbook slides [ppt pdf]; end-of-chapter [questions]
- Teams A, B, C, D, E, and F each present their chapter 9 case studies (15 minutes minimum to 20 minutes maximum each; penalties apply)
- Teams to present are chosen in random order; two speakers to present are chosen at random as well
- Nonpresenting teams grade the performance of the presenting teams
- Team 1: 9:00-9:20; Team 2: 9:25-9:45; Team 3: 9:50-10:10; Team 4: 10:15-10:35; Team 5: 10:40-11:00; Team 6: 11:05-11:25
- BSG Peer Evaluation Form #2 available online at 11pm

W 19 July - Assignments
Individual:
- BSG Peer Evaluation #2 due by 10pm [If you do not complete your online evaluations of your peers by the stated deadline, then you cannot take the final exam and your grade will be zero.]
Team:
- [none]


Th 20 July - Class meeting [9a - Computer lab 2]
- BSG post-simulation comprehensive exam
[online; open resources within BSG; time limit: 180 minutes; bring nonprogrammable hand calculator and pencil].
- [Final exam instructions for students] [Sample questions].
- Student course evaluation [dates to be announced]: With your Chula usn/pws, log in to https://www.cas.chula.ac.th/cas and complete the course evaluation for Business Economics and Modern Practice (course code: 2952261).


Writing resources: The Economist Styleguide | Strunk & White's Elements of Style

(c) Stone Garden Economics