You have not seen much of Myanmar if you just visit Yangon. Mandalay wouls be an essential stopover in Myanmar if you are going to be in Myanmar for a week. From Mandalay, you can head to Bagan, Pyin Oo Lwin, Lashio, Taunggyi or Nay Pyi Taw (Capital of Myanmar).
The mote, which is the ancient palace, is located in front of Sedona Hotel. You will meet many locals doing morning or evening exercise around the mote, and it will take you slightly more than an hour to complete one round of walking.
If you would like a view of the entire Mandalay, you can walk up the Mandalay hill. A morning walk would be ideal during the cooler season like December, where the temperature ranges between 10 to 12 degree celsius in the morning.
Some local products to be purchased as souvenir will be jams and cashews, which is available in supermarket such as Ocean or City mart.
One of the cheapest way to enter Mandalay from Yangon is by night bus. I highly recommend Elite, Academy or Boss (newest), where the ticket costs approximately 20,000 kyats (equivalent to US$20). You will have a personal screen where you can watch movie, listen to music or play games.
M3 hotel is one of the newest addition due to a high demand for hotels in Myanmar. It cost less than US$50 during off peak season, inclusive of breakfast. You also get basic amenities in your room, such as tooth brush & paste, soap, comb, complimentary coffee & tea. The internet speed is good too!