GLOBAL EDITION. Managerial Economics. Economic Tools for Today s Decision Makers. Paul Keat Philip Young Stephen Erfle SEVENTH EDITION
|
|
- Marybeth Roberts
- 5 years ago
- Views:
Transcription
1 GLOBAL EDITION Managerial Economics Economic Tools for Today s Decision Makers SEVENTH EDITION Paul Keat Philip Young Stephen Erfle
2
3 Managerial Economics, Global Edition Table of Contents Cover Contents Preface About the Authors Chapter 1 : Economics and Managerial Decision Making A Brief Review of Important Economic Terms and Concepts The Case of Global Foods, Inc.: Situations and Solutions of the Situations and Solutions Global Application: The BRIC Countries Chapter 2 The Firm and Its Goals The Firm Coase and the Internet The Economic Goal of the Firm and Optimal Decision Making Goals Other Than Profit Economic Goals Noneconomic Objectives Do Companies Really Try to Maximize Profits? Profit Maximization, Restated Maximizing the Wealth of Stockholders Market Value Added and Economic Value Added Economic Profits Global Application Chapter 3 Supply and Demand Market Demand Market Supply Market Equilibrium Comparative Statics Analysis
4 Short-Run Market Changes: The Rationing Function of Price Long-Run Market Analysis: The Guiding or Allocating Function of Price Using Supply and Demand in Forecasting Supply, Demand, and Price: The Managerial Challenge Global Application: The Bric Countries and the Supply and Demand for Oil Appendix 3A The Mathematics of Supply and Demand Chapter 4 Demand Elasticity The Economic Concept of Elasticity The Price Elasticity of Demand Measurement of Price Elasticity The Determinants of Elasticity The Effect of Elasticity on Price and Quantity The Elasticity of Derived Demand Elasticity in the Short Run and in the Long Run Demand Elasticity and Revenue The Mathematics of Elasticity and Revenue Empirical Elasticities The Cross-Price Elasticity of Demand Empirical Elasticities Income Elasticity Other Elasticity Measures Elasticity of Supply Global Application: Price Elasticities in Asia Appendix 4A Applications of Supply and Demand Chapter 5 Demand Estimation and Forecasting Demand Estimation Key Chapter Objectives The Critical Importance of Good Data to Regression Analysis Specifying the Regression Equation and Obtaining the Data Estimating and Interpreting the Regression Coefficients
5 Statistical Evaluation of the Regression Results Review of Key Steps for Analyzing Regression Results Implications of Regression Analysis for Management Decisions in the Use of Regression Analysis The Identification Problem Multicollinearity Autocorrelation Examples of Regression Analysis Across the Disciplines Global Application: Food in Spain, Cigarettes in Taiwan Forecasting Subjects of Forecasts Demand Estimating and Demand Forecasting Prerequisites of a Good Forecast Forecasting Techniques Expert Opinion Opinion Polls and Market Research Surveys of Spending Plans Economic Indicators Projections Econometric Models Global Application: Forecasting Exchange Rates Appendix 5A The Demand for White Zinfandel in Los Angeles Appendix 5B Understanding Consumer Behavior Through Testing Chapter 6 The Theory and Estimation of Production The Production Function A Short-Run Analysis of Total, Average, and Marginal Product The Law of Diminishing Returns The Three Stages of Production in the Short Run Derived Demand and the Optimal Level of Variable Input Usage The Case of Multiple Inputs (Abridged Version) The Long-Run Production Function The Estimation of Production Functions The Various Forms of a Production Function The Cobb-Douglas Production Function Statistical Estimation of Production Functions
6 Aggregate Production Functions The Importance of Production Functions in Managerial Decision Making Careful Planning Can Help a Firm to Use Its Resources in a Rational Manner Going Beyond the Curves: Current Production Issues and Challenges for Todays Managers Call Centers: Applying the Production Function to a Service Global Application: Shifting Trends in Global Outsourcing Appendix 6A Productivity in Services Appendix 6B The Multiple-Input Case Appendix 6C Analyzing Production Functions with the Use of Calculus Chapter 7 The Theory and Estimation of Cost The Importance of Cost in Managerial Decisions The Definition and Use of Cost in Economic Analysis Historical Versus Replacement Cost Opportunity Cost Versus Out-of-Pocket Cost Sunk Versus Incremental Cost The Relationship Between Production and Cost The Short-Run Cost Function Increasing Cost Efficiency in the Short Run Alternative Specifications of the Total Cost Function The Long-Run Cost Function The Relationship Between Long-Run Production and Long-Run Cost Economies of Scale The Long-Run Average Cost Curve as the Envelope of Short-Run Average Cost Using Long-Run Average Cost as a Decision-Making Tool: The Importance of Coordinating Production Plans with Market Forecasts The Learning Curve Economies of Scope Economies of Scale: The Short Run Versus the Long Run Supply Chain Management Examples of Ways Companies Have Cut Costs to Remain Competitive Cautionary Note to Managers About the Use of Cost-Cutting as a Strategy Global Applications: Li & Fung Will Do It All for You
7 Appendix 7A A Mathematical Restatement of the Short-Run Cost Function Appendix 7B The Estimation of Cost Appendix 7C Interview with a Supply Chain Management Executive Chapter 8 Pricing and Output Decisions: Perfect Competition and Monopoly Competition and Market Types in Economic Analysis The Meaning of Competition Examples of Market Types Market Types and Competition in Theory and Reality Pricing and Output Decisions in Perfect Competition The Basic Business Decision Key Assumptions of the Perfectly Competitive Market The Total RevenueTotal Cost Approach to Selecting the Optimal Output Level The Marginal RevenueMarginal Cost Approach to Finding the Optimal Output Level Economic Profit, Normal Profit, Loss, and Shutdown The Competitive Market in the Long Run Pricing and Output Decisions in Monopoly Markets The Implications of Perfect Competition and Monopoly for Managerial Decision Making Global Application: The $736,000 Bluefin Tuna Appendix 8A The Use of Calculus in Pricing and Output Decisions Appendix 8B Break-Even Analysis (Volume-Cost-Profit) Chapter 9 Pricing and Output Decisions: Monopolistic Competition and Oligopoly Monopolistic Competition Oligopoly Market Concentration Pricing in an Oligopolistic Market: Rivalry and Mutual Interdependence Competing in Imperfectly Competitive Markets Nonprice Competition The Reality of Monopolistic Competition and Oligopoly: Imperfect Competition Strategy: The Fundamental Challenge for Firms in Imperfect Competition Industrial Organization
8 The Structure-Conduct-Performance Paradigm The New Theory of Industrial Organization Strategy and the Ideas of Michael Porter Concluding Remarks on the Linkages Between Managerial Economics and Strategy Global Application: Competition in the Computer Tablet Market Appendix 9A A Mathematical Restatement of Monopolistic Competition Chapter 10 Special Pricing Practices Cartel Arrangements Cases of Price Fixing by Cartels Price Leadership Barometric Price Leadership Dominant Price Leadership Revenue Maximization Price Discrimination Third-Degree Discrimination Examples of Price Discrimination Some Examples of Price Discrimination Practices Pricing in the Hotel Industry: Example of Price Discrimination Tying Arrangements: A Possible Extension of Price Discrimination Social Welfare Implications of Price Discrimination Nonmarginal Pricing Cost-Plus Pricing Incremental Pricing and Costing Analysis Multiproduct Pricing Products Complementary in Demand Products Substitutable in Demand Joint Products with Fixed Proportions Joint Products in Variable Proportions Transfer Pricing No External Markets External Markets Other Pricing Practices Global Application: The Decline of European Cartels The European Carton-Board Cartel The European Vitamin Cartel
9 Some Recent Cases of Price Fixing Price Discrimination by Airlines An Airline Pricing Example Chapter 11 Game Theory and Asymmetric Information Game Theory: Modeling the Strategy of Conflict The Prisoners Dilemma The Basics of Bargaining A General Framework Asymmetric Information The Lemons Model Using Signals to Avoid the Lemons Problem Job Market Signaling Screening in Insurance Markets Moral Hazard and Principal-Agent Creating Incentive-Compatible Mechanisms Chapter 12 Capital Budgeting and Risk The Capital Budgeting Decision Types of Capital Budgeting Decisions Time Value of Money Methods of Capital Project Evaluation Net Present Value Internal Rate of Return The Profitability Index NPV Versus IRR Capital Budgeting in Practice Cash Flows Types of Cash Flows Cost of Capital Debt Equity
10 The Weighted Cost of Capital The Capital Budgeting Model Capital Rationing Risk Versus Uncertainty Sources of Business Risk The Measures of Risk Expected Value The Standard Deviation Discrete Versus Continuous Distributions and the Normal Curve The Coefficient of Variation Capital Budgeting Under Conditions of Risk Two Other Methods for Incorporating Risk The Risk-Adjusted Discount Rate Certainty Equivalents Present Value Break-Even Analysis Sensitivity and Scenario Analysis Simulation Decision Trees Real Options in Capital Budgeting Real Options in Practice An Abandonment Option Global Application Political Risk Containing International Risk Capital Budgeting in Practice Appendix 12A The Value of a Corporation Chapter 13 The Multinational Corporation in a Global Setting Opportunities for Multinational Corporations in a Global Economy Expanding the Dressings Category Throughout the World Doing Business in India Brief to Some of Indias Key Industries The Business and Investment Climate Socioeconomic and Political Factors McDonalds in India Risks Faced by a Multinational Corporation
11 Exchange Rates Exchange Rate Hedging Offsetting Transactions The Forward Market The Futures Market Currency Options Currency Swaps Foreign Direct Investment Multinational Capital Budgeting Intercompany Fund Flows Inflation Rates Exchange Rates Tax Differences Differences in Cash Flows Cost of Capital The Final Project Valuation The Repositioning of Funds Multinational Transfer Pricing Multinational Transfer Pricing Example Transfer Pricing in Practice Global Application: Tony the Tiger Meets a Bengal Tiger Chapter 14 Government and Industry: Challenges and Opportunities for Todays Manager The Rationale for Government Involvement in a Market Economy Providing a Legal Framework for Competition: The Antitrust Laws The Clayton Act (1914) Dealing with Market Externalities: Another Key Function of Government in the Market Economy Stabilization of the Aggregate Economy: Monetary and Fiscal Policy Monetary Policy Fiscal Policy Lags Subprime Loan Financial Crisis of 2007 to 2009 Background Securitization of Mortgaged-Backed Securities
12 Disappearing Liquidity Challenges the Financial System Changing Bank Regulations to Avoid Future Crises Global Financial Deregulation and Growth in International Capital Flows Government Deregulation, Mergers, and Acquisitions Why Firms Merge Government Protection of Intellectual Property (IP) Global Application: The Failed Attempt to Merge by General Electric and Honeywell Chapter 15 The Global Soft Drink Industry Factors and Trends Influencing Demand Factors and Trends Influencing Supply Energy Drinks Appendix A Statistical and Financial Tables Index A B C D E F G H I J K L M N O P Q R S T
13 U V W X Y Z
Pricing and Output Decisions: Monopolistic Competition and Oligopoly 387
Contents Preface 19 About the Authors 25 Chapter 1 Introduction 27 Chapter 2 The Firm and Its Goals 44 Chapter 3 Supply and Demand 64 Appendix 3A The of Supply and Demand Chapter 4 Demand Elasticity 94
More informationMANAGERIAL ECONOMICS THEORY, APPLICATIONS, AND CASES EIGHTH EDITION. W.Bruce Allen The Wharton School University of Pennsylvania
MANAGERIAL ECONOMICS THEORY, APPLICATIONS, AND CASES EIGHTH EDITION W.Bruce Allen The Wharton School University of Pennsylvania Neil A. Doherty The Wharton School University of Pennsylvania Keith Weigelt
More informationMANAGERIAL ECONOMICS WILEY A JOHN WILEY & SONS, INC., PUBLICATION. A Mathematical Approach
MANAGERIAL ECONOMICS A Mathematical Approach M. J. ALHABEEB L. JOE MOFFITT Isenberg School of Management University of Massachusetts Amherst, MA, USA WILEY A JOHN WILEY & SONS, INC., PUBLICATION PREFACE
More informationNew Perspectives on Industrial Organization
Victor J. Tremblay Carol HortoiiTremblay New Perspectives on Industrial Organization With Contributions from Behavioral Economics and Game Theory fyj Springer Contents Part I Introductory and Review Material
More informationGovernment and Industry: Tools for Today s Decision Makers, 4/e By Paul Keat and Philip Young
Chapter 15 Government and Industry: Challenges and Opportunities for Today's Managers Managerial Economics: Economic Managerial Economics: Economic Tools for Today s Decision Makers, 4/e By Paul Keat and
More informationContents in Brief. Preface
Contents in Brief Preface Page v PART 1 INTRODUCTION 1 Chapter 1 Nature and Scope of Managerial Economics and Finance 3 Chapter 2 Equations, Graphs and Optimisation Techniques 21 Chapter 3 Demand, Supply
More informationIntroduction: Markets and Prices p. 1 Preliminaries p. 3 The Themes of Microeconomics p. 4 What Is a Market? p. 7 Real versus Nominal Prices p.
Preface p. xxiii Introduction: Markets and Prices p. 1 Preliminaries p. 3 The Themes of Microeconomics p. 4 What Is a Market? p. 7 Real versus Nominal Prices p. 11 Why Study Microeconomics? p. 15 Summary
More informationPreface... iii Introduction... xxi Chapter 1: Managerial Economics: Meaning, Nature, Scope, and Importance... 1
Table of Contents Preface... iii Introduction... xxi Chapter 1: Managerial Economics: Meaning, Nature, Scope, and Importance... 1 1.1 Introduction... 2 1.2 Meaning of Economics... 2 1.2.1 Nature of Economics...
More informationEconomic Analysis for Business and Strategic Decisions. The Fundamentals of Managerial Economics
Economic Analysis for Business and Strategic Decisions Chapter 1: The Fundamentals of Managerial Economics 1. Define the concept of time value of money. 2. Recognize the difference between value maximization
More informationMANAGERIAL ECONOMICS SIXTH EDITION
MANAGERIAL ECONOMICS SIXTH EDITION William F. Samuelson Boston University Stephen G. Marks Boston University WILEY JOHN WILEY & SONS, INC. Contents CHAPTER 1 Introduction to Economic Decision Making 1
More informationDEPARTMENT OF ECONOMICS PROGRAMME SPECIFIC OUTCOME
DEPARTMENT OF ECONOMICS PROGRAMME SPECIFIC OUTCOME 1. Identify the role of supply and demand. 2. Identify the necessary conditions for market economies to functions well. 3. Discuss the advantages of market
More informationA Planned Course Statement for. Economics, AP. Length of Period (mins.) 41 Total Clock Hours: 123. Periods per Cycle: 6 Length of Course (yrs.) 1.
East Penn School District Secondary Curriculum A Planned Course Statement for Economics, AP Course # 266 Grade(s) 12 Department: Social Studies Length of Period (mins.) 41 Total Clock Hours: 123 Periods
More information24TECO 202 COURSE OUTLINE. Prerequisites: None. Course Description:
Lecture 24TECO 202 24TPrinciples of Microeconomics COURSE OUTLINE Revised: Fall 2015 Prerequisites: None Course Description: Introduces the basic concepts of microeconomics. Explores the free market concepts
More informationFIFTH EDITION B BARRON'S. Walter J.Wessels. BUSINESS REVIEW BOOKS Economics
BUSINESS REVIEW BOOKS Economics FIFTH EDITION Walter J.Wessels Professor of Economics Department of Economics and Business North Carolina State University B 381467 BARRON'S CONTENTS Preface xiii 1 WHAT
More informationFoundations of Business Analysis and Strategy
k 11 i- f l I_J I I } I II j "J 1r%\ "J T. "u ' Foundations of Business Analysis and Strategy TENTH EDITION (hristopher R. Thomas University of South Florida Exide Professor of Sustainable Enterprise S.
More informationPreface. Chapter 1 Basic Tools Used in Understanding Microeconomics. 1.1 Economic Models
Preface Chapter 1 Basic Tools Used in Understanding Microeconomics 1.1 Economic Models 1.1.1 Positive and Normative Analysis 1.1.2 The Market Economy Model 1.1.3 Types of Economic Problems 1.2 Mathematics
More informationTWELFTH EDITION. University of South Florida. Texas A&M University Late Professor Emeritus. Mc Graw Hill Education
MANAGERIAL Foundations of Business Analysis and Strategy TWELFTH EDITION Christopher R. Thomas University of South Florida S. Charles Maurice Texas A&M University Late Professor Emeritus Mc Graw Hill Education
More informationThe Economic Way ; of Thinking for Managers
The Economic Way ; of Thinking for Managers Second Edition Richard B. McKenzie R. Lee CAMBRIDGE UNIVERSITY PRESS Preface page xv How to use this book -. _.. xxiv List of online perspectives xxvi List of
More informationOverview of Managerial Economics p. 1 Introduction p. 2 How Is Managerial Economics Useful? p. 3 Managerial Ethics p. 4 Theory of the Firm p.
Overview of Managerial Economics p. 1 Introduction p. 2 How Is Managerial Economics Useful? p. 3 Managerial Ethics p. 4 Theory of the Firm p. 5 The World Is Turning to Capitalism and Democracy p. 8 Profit
More informationMaster of Business Administration Course Descriptions
Master of Business Administration Course Descriptions CORE COURSES MBAB 5P01 Accounting for Decision-Making I The functional basics of accounting for management and business decisions. Data collection,
More informationCollege Record: 59.7% 4 year school, 13.1% 2 year school, 9.9% trade school
Microeconomics SYLLABUS Jason Farone Blackhawk High School Beaver Falls, PA School Profile School Location and Environment: Blackhawk High School is a public school in Beaver Falls, PA, located 50 miles
More informationThe following key should help you understand the different types of activities students engage in during the course:
AP Microeconomics Course Overview Name Description AP Microeconomics AP Microeconomics studies the behavior of individuals and businesses as they exchange goods and services in the marketplace. Students
More informationUNIVERSITY OF MASSACHUSETTS DARTMOUTH Charlton College of Business Department of Accounting and Finance Summer 2017
COURSE SYLLABUS UNIVERSITY OF MASSACHUSETTS DARTMOUTH Charlton College of Business Department of Accounting and Finance Summer 2017 Instructor: Gopala Vasudevan Email:gvasudevan@umassd.edu Office: 317
More informationNo Code Course Title Course Descriptions Prerequisite*
1 AC201 Fundamental Accounting The basic principles, concepts, and procedures for collecting and recording accounting information; preparation and analysis of financial reports; accounting Cycle; accounting
More informationPrinciples of Economics. January 2018
Principles of Economics January 2018 Monopoly Contents Market structures 14 Monopoly 15 Monopolistic competition 16 Oligopoly Principles of Economics January 2018 2 / 39 Monopoly Market power In a competitive
More informationHill College P.O. Box 619 Hillsboro, Texas COURSE SYLLABUS PRINCIPLES OF MICROECONOMICS. Prepared by: T. SMITH Date: JANUARY 2010
Hill College P.O. Box 619 Hillsboro, Texas 76645 COURSE SYLLABUS Course Prefix and Number ECON 2302 Course Title PRINCIPLES OF MICROECONOMICS Prepared by: T. SMITH Date: JANUARY 2010 Approved by: Division
More informationMicroeconomics
Microeconomics 978-1-63545-005-7 To learn more about all our offerings Visit Knewtonalta.com Source Author(s) (Text or Video) Title(s) Link (where applicable) OpenStax Steve Greenlaw - University of Mary
More informationCourse Outline. Business Undeclared School of Business & Economics ECON Applied Microeconomics for Sustainable Management
Course Outline Calendar Description Business Undeclared School of Business & Economics ECON 6020-3.00 Applied Microeconomics for Sustainable Management Students examine more advanced microeconomic tools
More informationMICROECONOMICS. DAVID A. SESANKO Northwestern University, Kellogg School of Management
MICROECONOMICS DAVID A. SESANKO Northwestern University, Kellogg School of Management RONALD R. BRAEUTIGAM Northwestern University, Department ofeconoiriics with Contributims from Michael J. Gibbs The
More informationEssential Questions Content Skills Assessments Standards/PIs Resources/Notes. Discriminates between scarcity and shortage.
Map: AP Economics Type: Consensus Grade Level: 12 School Year: 2010-2011 Author: Jessica Cartusciello District/Building: Island Trees/Island Trees High School Created: 06/28/2010 Last Updated: 07/22/2010
More informationfoundations of economics fourth edition Andrew Gillespie OXFORD UNIVERSITY PRESS
foundations of economics fourth edition Andrew Gillespie OXFORD UNIVERSITY PRESS Detailed contents Preface How to use this book About the Online Resource Centre Guided tour of Dashboard Acknowledgements
More informationECON December 4, 2008 Exam 3
Name Portion of ID# Multiple Choice: Identify the letter of the choice that best completes the statement or answers the question. 1. A fundamental source of monopoly market power arises from a. perfectly
More informationLecture 11 Imperfect Competition
Lecture 11 Imperfect Competition Business 5017 Managerial Economics Kam Yu Fall 2013 Outline 1 Introduction 2 Monopolistic Competition 3 Oligopoly Modelling Reality The Stackelberg Leadership Model Collusion
More information6 Market failure (Unit 1.4) 6.1 The meaning of market failure and externalities Negative externalities Positive externalities
35 1 CONTENTS Introduction x 1 The foundations of economics 1.1 Economics is a social science 1 1.2 Scarcity 2 1.3 Choice and opportunity cost 9 1.4 The use of models in economics 10 1.5 Central themes
More information1 P a g e B a r t r a m T r a i l H S D. F r a n k. Krugman s Economics for AP*, Anderson and Ray, Worth Publishers 2 nd Edt.
1 P a g e B a r t r a m T r a i l H S D. F r a n k Advanced Placement ECONOMICS SYLLABUS Instructor: Course: Contact Info: Planning Period: Text: Mr. Frank Social Studies Dept. Room: 635 AP Macroeconomics
More informationSpecial Pricing Practices. Managerial Economics: Economic Tools for Today s Decision Makers, 4/e
Special Pricing Practices Chapter 11 Managerial Economics: Economic Tools for Today s Decision Makers, 4/e By Paul Keat and Philip Young Special Pricing Policies Introduction Cartel Arrangements Revenue
More informationIntroduction To Managerial Economics
Page 1 Introduction To Managerial Economics What do Telus, Global, B.C. Hydro and Island Farms have in common? Just like thousands of other Canadian firms, they have used the principles of managerial economics
More informationPRINCIPLES OF ECONOMICS IN CONTEXT CONTENTS
PRINCIPLES OF ECONOMICS IN CONTEXT By Neva Goodwin, Jonathan M. Harris, Julie A. Nelson, Brian Roach, and Mariano Torras CONTENTS PART ONE The Context for Economic Analysis Chapter 0: Economics and Well-Being
More informationENGINEERING ECONOMICS AND FINANCIAL ACCOUNTING 2 MARKS
ENGINEERING ECONOMICS AND FINANCIAL ACCOUNTING 2 MARKS 1. What is managerial economics? It is the integration of economic theory with business practice for the purpose of facilitating decision making and
More informationPrinciples of Economics
Principles of Economics Sylvain Barde Fall term 2009-2010: Microeconomics Course Outline Week 1: Introduction Part 1: Theories of the agent Week 2: Consumer preferences and Utility Week 3: The budget constraint
More informationMBA Core Curriculum Course Descriptions
MBA Core Curriculum Course Descriptions PMBA 6310 - Managerial Accounting and Control Systems This course starts by introducing non-accountant managers to the accounting framework, classifications of assets,
More informationSharon M. Oster. Karl E. Case. Ray C. Fair. Principles of Microeconomics NINTH EDITION. Wellesley College. Yale University.
NINTH EDITION Principles of Microeconomics Karl E. Case Wellesley College Ray C. Fair Yale University Sharon M. Oster Yale University Prentice Hall UPPER SADDLE RIVER, NJ 07458 Contents Preface ix PART
More informationCourse Description: Objectives: Grading:
Boise State University Principals of Microeconomics ECON 202, Section 001, Liberal Arts Building, Room LA 106, Spring Semester 2011 Instructor: John Church Textbook: Exploring Microeconomics BSU Phone:
More information4. A situation in which the number of competing firms is relatively small is known as A. Monopoly B. Oligopoly C. Monopsony D. Perfect competition
1. Demand is a function of A. Firm B. Cost C. Price D. Product 2. The kinked demand curve explains A. Demand flexibility B. Demand rigidity C. Price flexibility D. Price rigidity 3. Imperfect competition
More informationINTRODUCTION MANAGERIAL ECONOMICS CHAPTER ONE. ECON340: Managerial Economics Ch.1 Dr. Mohammed Alwosabi. Dr. Mohammed Alwosabi MANAGERIAL ECONOMICS
CHAPTER ONE INTRODUCTION TO MANAGERIAL ECONOMICS Dr. Mohammed Alwosabi Economics and Managerial Decision Making Managerial economics is one of the most important and useful courses. It will provide you
More informationBRIEF CONTENTS. Introduction. Organizational Architecture and Regulation. Demand and Forecasting 75. PART III Production and Cost 257.
BRIEF CONTENTS Preface PART l Introduction 1 Introduction and Goals of the Firm 2 Fundamental Economic Concepts 2A Differential Calculus Techniques in Management XI l 2 26 Demand and Forecasting 75 3 Demand
More informationECONOMICS (ECO) Economics (ECO) 1
Economics (ECO) 1 ECONOMICS (ECO) ECO 211. Economic Principles and Problems. 3 Credit Hours. Fundamental course devoted to development and application of basic analytical tools and principles required
More informationUnit 1: Introduction to Economics
Microeconomics Syllabus AP Economics Textbooks & Resources: McConnell, Campbell & Stanley Brue. Economics: Principles, Problems, and Policies. 16 th ed., New York, NY: McGraw Hill, 2005. Morton, John.
More informationNew syllabus of B.Com Part-1 effective from 2006
New syllabus of B.Com Part-1 effective from 2006 ECONOMIC ANALYSIS AND POLICY MICRO ECONOMICS 2 questions, 40 Marks CHAPTER 1 1NTRODUCTION 1 Basic concepts 2 Definition 3 Micro and macro approach to economic
More informationMICROECONOMICS. London School of Economics. University of Western Ontario. Prentice Hall FINANCIAL TIMES
.&*,- *>"> MICROECONOMICS Saul Estrin London School of Economics David Laidler University of Western Ontario Michael Dietrich University of Sheffield Prentice Hall FINANCIAL TIMES An imprint of Pearson
More informationMarking Period 1. Marking Period 3. Exam. Marking Period 4. Marking Period 2. COURSE: Advance Placement Microeconomics/Macroeconomics
Week Marking Period 1 Week Marking Period 3 1 Microeconomics - Unit 1 21 Microeconomics - Unit 3 2 Microeconomics - Unit 1 22 Microeconomics - Unit 3 3 Microeconomics - Unit 1 23 Microeconomics - Unit
More informationAndrew Gillespie V *
Andrew Gillespie V * New to this edition xvii How to use this book ^ xviii Online Resource Centre > xx Acknowledgements Preface xxii xxiii 2 What is an economy? 3 Why all business managers should want
More informationLUNA COMMUNITY COLLEGE ACCOUNTING CURRICULUM PROFILE
LUNA COMMUNITY COLLEGE 2015-2018 ACCOUNTING CURRICULUM PROFILE LUNA COMMUNITY COLLEGE 2015-2018 ACCOUNTING CURRICULUM PROFILE Page 1 of 8 TABLE OF CONTENTS PROGRAM GOALS ASSESSMENT DEGREE/CERTIFICATE REQUIREMENTS
More informationSTATE UNIVERSITY OF NEW YORK COLLEGE OF TECHNOLOGY CANTON, NEW YORK COURSE OUTLINE ECON 314- MANAGERIAL ECONOMICS. Prepared by: Karen Spellacy
STATE UNIVERSITY OF NEW YORK COLLEGE OF TECHNOLOGY CANTON, NEW YORK COURSE OUTLINE ECON 314- MANAGERIAL ECONOMICS Prepared by: Karen Spellacy Updated by Edouard Mafoua SCHOOL OF BUSINESS AND LIBERAL ARTS
More informationGLOBAL. Microeconomics ELEVENTH EDITION. Michael Parkin EDITION
GLOBAL EDITION Microeconomics ELEVENTH EDITION Michael Parkin Microeconomics, Global Edition - PDF - PDF - PDF Table of Contents Cover Microeconomics About the Author Brief Contents Alternative Pathways
More informationPROGRAMME: B.COM (FIRST YEAR) COURSE: BUSINESS ECONOMICS I PAPER: MICRO ECONOMICS-01
PROGRAMME: B.COM (FIRST YEAR) COURSE: BUSINESS ECONOMICS I PAPER: MICRO ECONOMICS-01 (Choice Based Credit System with Effect from the Academic Year 2018-19) 1. Name of the Programme: : B.COM 2. Paper Code
More informationPrinciples of Microeconomics
Principles of Microeconomics 978-1-63545-093-4 To learn more about all our offerings Visit Knewton.com Source Author(s) (Text or Video) Title(s) Link (where applicable) OpenStax Steve Greenlaw - University
More informationPrinciples of Microeconomics
Principles of Microeconomics 978-1-63545-093-4 To learn more about all our offerings Visit Knewton.com Source Author(s) (Text or Video) Title(s) Link (where applicable) OpenStax Steve Greenlaw - University
More informationStudy Plan Finance Agricultural Marketing Management International Markets and Agricultural 3 3 -
Study Plan Faculty of Agriculture MASTER in Agricultural Economics and Agribusiness Management (Thesis Track) First: GENERAL RULES & CONDITIONS: Plan Number 2013 1. This plan confirms to the valid regulations
More informationBroken Arrow Public Schools Economics Objectives
1 st six weeks # Objective 1 Explain the fundamental economic problem. 2 Examine the three basic economic questions every society must decide. 3 Explain the relationship among scarcity, value, utility,
More informationGACE Economics Assessment Test at a Glance
GACE Economics Assessment Test at a Glance Updated June 2017 See the GACE Economics Assessment Study Companion for practice questions and preparation resources. Assessment Name Economics Grade Level 6
More informationAP Microeconomics. Content Skills Learning Targets Assessment Resources & Technology
St. Michael Albertville High School Teacher: Matthew Rooker AP Microeconomics October 2014 Content Skills Learning Targets Assessment Resources & Technology November 2014 Content Skills Learning Targets
More information2011/2012 AP MICROECONOMICS CONTENT MAP Mr. Crawford
advanced placement microeconomics review UNIT TITLE CHAPTER TEST ONE LIMITS AND CHOICES 1 The MARKET SYSTEM 2 TWO SUPPLY and DEMAND 3 THREE ELASTICITY 4 MARGINAL UTILITY 6 FOUR COSTS OF PRODUCTION 7 PROFIT
More informationIndustrial Organization
Industrial Organization Markets and Strategies 2nd edition Paul Belleflamme Université CatholiquedeLouvain Martin Peitz University of Mannheim University Printing House, Cambridge CB2 8BS, United Kingdom
More informationEconomics 361 Assessment
Economics 361 Assessment (1) Learning Objectives: Students who complete Economics 361 are expected to be able to use microeconomics as a means for evaluating alternative choices (e.g., policy choices;
More informationChapter 1: MANAGERS, PROFITS, AND MARKETS
Chapter 1: MANAGERS, PROFITS, AND MARKETS Essential Concepts 1. Managerial economics applies microeconomic theory the study of the behavior of individual economic agents to business problems in order to
More informationContents. Concepts of Revenue I-13. About the authors I-5 Preface I-7 Syllabus I-9 Chapter-heads I-11
Contents About the authors I-5 Preface I-7 Syllabus I-9 Chapter-heads I-11 1 Concepts of Revenue 1.1 Introduction 1 1.2 Concepts of Revenue 2 1.3 Revenue curves under perfect competition 3 1.4 Revenue
More informationMicroeconomics. Use the Following Graph to Answer Question 3
More Tutorial at www.dumblittledoctor.com Microeconomics 1. To an economist, a good is scarce when: *a. the amount of the good available is less than the amount that people want when the good's price equals
More informationIndustrial. Organization. Markets and Strategies. 2nd edition. Paul Belleflamme Universite Catholique de Louvain. Martin Peitz University of Mannheim
Industrial Organization Markets and Strategies 2nd edition Paul Belleflamme Universite Catholique de Louvain Martin Peitz University of Mannheim CAMBRIDGE UNIVERSITY PRESS Contents List offigures xiii
More informationS11Microeconomics, Exam 3 Answer Key. Instruction:
S11Microeconomics, Exam 3 Answer Key Instruction: Exam 3 Student Name: Microeconomics, several versions Early May, 2011 Instructions: I) On your Scantron card you must print three things: 1) Full name
More informationMarket Failure 24 SEP 2009
Health Policy in Economic Perspectives: Market Failure 24 SEP 2009 서울대학교의과대학 의료관리학교실 김영치 Young Chi Kim, MD, PhD, MPH Perfect Competition Many Buyers and Sellers A Standardized (Identical) Product Mobile
More informationEconomics. E.1.4 Describe how people respond predictably to positive and negative incentives.
Standard 1: Scarcity and Economic Reasoning Students will understand that productive resources are limited; therefore, people cannot have all the goods and services they want. As a result, they must choose
More informationIntermediate Microeconomics
Intermediate Microeconomics A Modern Approach e. B H- iofl e Hal R. Variao University of California at Berkeley W. W. Norton & Company o New York London Preface 1 The Market Constructing a, Model 1 Optimization
More informationSyllabus. Firms and Markets Professor Paul Scott Office: KMC Course description
Firms and Markets Professor Paul Scott Office: KMC 7-77 Email: ptscott@stern.nyu.edu Syllabus Course description The goal of this course is to give you some insight into how markets work. The first part
More informationSpecific Learning Goals/Benchmarks and Student Assessment. AP Macroeconomics
Unit Bartram Trail HS Specific Learning Goals/Benchmarks and Student Assessment AP Macroeconomics # Benchmark Assessment 1 1 1 2 1 3 1 4 2 5 2 6 3 7 3 8 3 9 3 10 3 11 4 12 4 13 4 14 4 15 4 16 4 17 Define
More informationEcon 201 Review Notes - Part 3
Econ 201 Review Notes - Part 3 This is intended as a supplement to the lectures and section. It is what I would talk about in section if we had more time. After the first three chapters where we talked
More informationFull file at
Chapter 1 There are no Questions in Chapter 1 1 Chapter 2 In-Chapter Questions 2A. Remember that the slope of the line is the coefficient of x. When that coefficient is positive, there is a direct relationship
More informationExecutive MBA. Semester I
Executive MBA Semester I Course Code- EMB- 101 Course Name- Principles of Management Course Outline Definition, Functions, Process and Importance of Management, Managerial Roles, Managerial Skills and
More informationAGRICULTURAL PRODUCT PRICES FIFTH EDITION. William G. Tomek. Harry M. Kaiser CORNELL UNIVERSITY PRESS ITHACA AND LONDON
AGRICULTURAL PRODUCT PRICES FIFTH EDITION William G. Tomek Harry M. Kaiser CORNELL UNIVERSITY PRESS ITHACA AND LONDON Contents Kenneth L. Robinson: An Acknowledgment Preface to the Fifth Edition xi ix
More informationADVANCED PLACEMENT MICROECONOMICS Maple Grove Senior High School Jeff Rush Social Studies Department
ADVANCED PLACEMENT MICROECONOMICS Maple Grove Senior High School Jeff Rush rushj@district279.org Social Studies Department Required textbook Economics, McConnell and Brue, 17 th edition, 2008. Course description
More informationFOR MORE PAPERS LOGON TO
ECO401- Economics Question No: 1 ( Marks: 1 ) - Please choose one In pure capitalism, the role of government is best described as: Significant. Extensive. Nonexistent. Limited. Question No: 2 ( Marks:
More informationWhat Is Covered. Econ 2 Final Exam. The Big Concepts. An Outline of Topics Covered In Econ 2
What Is Covered Econ 2 Final Exam Where: Price Center Theatre Date: Friday March 24 Time: 8:00-11:00 a.m. Final is cumulative Heavier emphasis on chapters (14&15) not covered on earlier midterms Format:
More informationSyllabus of Ph.D. Entrance Examination 2015 FACULTY OF COMMERCE AND MANAGEMENT 26. COMMERCE
Syllabus of Ph.D. Entrance Examination 2015 FACULTY OF COMMERCE AND MANAGEMENT 26. COMMERCE 1. Business Environment: Meaning and Elements of Business Environment. Economic environment, Economic Policies,
More informationM.Sc. Agril. Economics
M.Sc. Agril. Economics Sl. Course Name Course Credit Semester No. Code 1. Micro & Macro Economics Theory ECON-701 3 (3+0+0) I 2. Research Methodology ECON-705 4 (2+0+4) I 3. Farm Management ECON-703 4
More informationSUBJECT KNOWLEDGE AUDIT PGCE Business and Economics (for use across Stages 1, 2 and 3)
SUBJECT KNOWLEDGE AUDIT 2015-16 PGCE Business and Economics (for use across Stages 1, 2 and 3) Secondary PGCE NAME: Stage 1 INDUCTION PHASE - September Stage 2 PREPARING FOR STAGE 2 PLACEMENT DEMANDS December
More informationCIE Economics A-level
CIE Economics A-level Topic 2: Price System and the Microeconomy f) Differing objectives of a firm Notes Traditional profit maximising objective of a firm Profit is an important objective of most firms.
More informationChapter 15 Oligopoly
Goldwasser AP Microeconomics Chapter 15 Oligopoly BEFORE YOU READ THE CHAPTER Summary This chapter explores oligopoly, a market structure characterized by a few firms producing a product that mayor may
More informationLearning Objectives. Chapter 1. In this chapter you will
Learning Objectives Chapter 1 Learn that economics is about the allocation of scarce resources Examine some of the trade-offs that people face Learn the meaning of opportunity cost See how to use marginal
More informationYear 1 Term 6 AQA Spec Additional AQA guidance Specification Section(s) The objectives of firms
Time allocation 5 weeks 15 th Jun 17 th Jul Year 1 Term 6 AQA Spec Additional AQA guidance Specification Section(s) The objectives of firms This is a preliminary introduction to the topic 3.3.1 Syllabus
More informationSyllabus for M.Com. Programme. Semester I & II
AC - 24/06/2016 Item No:_4.16 UNIVERSITY OF MUMBAI Preamble Syllabus for M.Com Programme Core course in Economics Semester I & II M.Com Semester I: Core course in Economics Paper I (Choice Based Credit
More informationA Correlation of. To the Mississippi College- and Career- Readiness Standards Social Studies
A Correlation of To the 2018 Mississippi College- and Career- Readiness Standards Social Studies Table of Contents E.1... 3 E.2... 6 E.3... 7 E.4... 11 E.5... 15 E.6... 19 E.7... 24 E.8... 26 E.9... 28
More informationB.V. Patel Institute of Business Management, Computer & Information Technology, Uka Tarsadia University : Managerial Economics
Unit-1 Introduction of Managerial Economics and Cost Analysis Answer the following. (1 mark) 1. Define Managerial Economics? 2. How does Managerial Economics help managers to become efficient and competent?
More informationPROGRAMME: Interdepartmental Programme of Postgraduate Studies in Business Administration (M.B.A.)
PROGRAMME: Interdepartmental Programme of Postgraduate Studies in Business Administration (M.B.A.) Compulsory Course: Principles of Economic Theory and Policy Semester: 1st Instructors: Velentzas Konstantinos,
More informationN/A N/A. Yes. Students are expected to review and understand all areas of the course outline.
Course Outline School: Department: Course Title: Business Graduate Studies Economic Analysis for Managers Course Code: ECON 701 Course Hours/Credits: 42 Prerequisites: Co-requisites: Eligible for Prior
More informationCOURSE SYLLABUS AND INSTRUCTOR PLAN
WACO, TEXAS COURSE SYLLABUS AND INSTRUCTOR PLAN MICROECONOMICS BRIAN JOHNSON SPRING 2015 Course Description: Introduces the principles of microeconomics as applied to supply and demand, price and output
More informationNature, scope and significance of Managerial Economics. What Role a managerial Economist plays in the Management Team
What is Economics? What is Micro and Macro economics? What is Managerial Economics? Nature, scope and significance of Managerial Economics How it is useful to a Manager? Functions of a Managerial Economist?
More informationKS5 Business & Economics
KS5 Business & Economics Year 12 Business Autumn Spring What is business? (28 lessons) How are key decisions made within a business? (28 lessons) of their marketing department? of their operations/production
More informationEconomics DESCRIPTION. EXAM INFORMATION Items
EXAM INFORMATION Items 58 Points 60 Prerequisites NONE Course Length ONE SEMESTER DESCRIPTION This course focuses on the study of economic problems and the methods by which societies solve them. Characteristics
More information