Hong Kong Polytechnic University School of Accounting and Finance AF1605 INTRODUCTION TO ECONOMICS Course Outline First Semester 2013/2014 Subject Code: AF1605 Subject Title: Introduction to Economics Mode of Study: Lecture Tutorial 28 hours 14 hours Assessment: Coursework Final Examination 50% 50% Minimum Pass Grade: Coursework Final Examination D D Subject Lecturers Dr Y.C. Chan Dr Vincent Mok Office: M853 Office: M844 Phone: 27667118
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02 - Investing and Financing Decisions and the Accounting System HANDOUT 2 – 1 SOLUTION‚ continued ANALYZING TRANSACTIONS Analyze each of the following transactions of World Wide Webster by performing each of the following. Then‚ use the chart on the following page to keep track of the amount in each account: (a) Stockholder invests $10‚000 into the business in exchange for 10‚000 shares of $1 par value common stock. 1. Decide if a transaction took place. Yes – received cash and gave stock. 2.
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MANAGEMENT & SCIENCE UNIVERSITY INTRODUCTION TO ECONOMICS (DEC 0053) ASSIGNMENT 1 (INDIVIDUAL) Due Date : 4th January 2013 (Friday) Format : Typeface: Arial‚ Font: 11‚ Spacing: Double‚ Cover Page: White colour Assessment : 50 marks Question a) Reference to the notes‚ article‚ internet and any text book on the Economic System‚ make a comparison between the socialist‚ capitalist and the mixed economy. Take one nation/country to explain that each economic system used by the nation/country
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chapter 1. introduction to managerial economics 1. what is managerial economics? Managerial economics = the science of directing scarce resources to manage effectively → each needs to understand how they can influence the demand through price and advertising‚ what is the best organizational architecture and how to compete Differences between ‘new’ and ‘old’ economy * Network effects in demand = the benefit provided to any user depends on the
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------------------------------------------------- Subject: Managerial Accounting Case 1 Seligram In the Seligram case‚ the existing cost accounting system measured two components of cost: direct labor and burden. All burden cost‚ which is the overhead‚ was grouped into a single cost pool and was calculated only by using a burden rate per direct labor dollar. This may cause problems since direct labor and overhead are not consumed by the products in the same proportion. Simply using the same burden
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success‚ it is easy to see why so much pressure is put on these students. Could today’s society be putting too much pressure on teens? When does all this studying and hard work become too much and start to have a negative effect with the student? Introduction Lucy wakes up in the morning to the sound of her alarm clock and groans‚ “Just five more minutes‚ please.” It was the beginning to another long day. Lucy got dressed‚ ate breakfast and rushed off to school. She rushes into the classroom just before
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In this paper we shall focus first on the key characteristics of TCE (transactions cost economics) giving a theoretical introduction of its concepts. We will then analyze the vertical boundaries of Ross & C‚ the company I currently work for‚ and we will see how they evolved during the years. The discussion will concern the “to buy or to make” dilemma applied to the real case of the sales force. We will in fact show the transition from the sale force as outside agents (to buy) to the sale force
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No. 1: What is Managerial Economics.? Explain the nature and scope of Managerial Economics.? Answer: Managerial Economics generally refers to the integration of economic theory with business practice. While economics provides the tool which explain various concepts such as demand‚ supply‚ price‚ competition etc. Managerial economics applies these tools to the management of business‚ in this sense managerial economics is also understood to refer to business economics or applied economics. Managerial
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Managerial Economics Course Assessment 1 Transaction Cost of Economics (TCE) theory is to explain a firm’s structure and TCE’s key features are the determinants of the level of vertical integration. The process that begins with the acquisition of raw materials and ends with the distribution and sale of finished goods and services is known as the vertical chain[i]. A central issue in business strategy is how to organize the vertical chain. TCE‚ which was first contended by Coase in 1937 and developed
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Problem Set # 3 Solutions Chapter 7 #2 a) The production function in the Solow growth model is Y = f(K‚L)‚ or expressed in terms of output per worker‚ y = f(k). If a war reduces the labor force through casualties‚ the L falls but Capital-labor ratio k = K/L rises. The production function tells us that total output falls because there are fewer workers. Output per worker increases‚ however‚ since each worker has more capital. b) The reduction in the labor force means that the capital stock
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