Lectures On Intermediate Microeconomics Kotut c Samwel‚ M. Phil (Economics) Moi University. Chapter one 1.0 Introduction Economics is the science of scarce resource allocation to meet endless human desires. The modern economics science has two major branches i.e. Micro-economics and Macro-economics. Compared to micro-economics Macro-economics is a younger branch of economics. Until the economic depression of 1930s economics was limited to what is
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1 FIRST SEMESTER Managerial Economics Subject Code:1001 Contact Hours: 60 Work Load: 4hrs/week Credit Points: 04 Semester End Exam Marks: 80 Internal Marks: 20 OBJECTIVES: 1. To familiarize students with Micro Economic Concepts used in Decision Making. 2. To develop application and analytical skills by using these concepts to make managers effective in economic decision making. Module: 1 (10 Hours) Introduction to Economics - Introduction to Managerial Economics- concept‚ Nature‚ Scope
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Microeconomics Topic 6: “Be able to explain and calculate average and marginal cost to make production decisions.” Reference: Gregory Mankiw’s Principles of Microeconomics‚ 2nd edition‚ Chapter 13. Long-Run versus Short-Run In order to understand average cost and marginal cost‚ it is first necessary to understand the distinction between the “long run” and the “short run.” Short run: a period of time during which one or more of a firm’s inputs cannot be changed. Long run: a period of time during which
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Licensed to: iChapters User PRINCIPLES OF MICROECONOMICS: A G U I D E D T O U R PART ONE: INTRODUCTION Chapter 1 Chapter 2 Chapter 3 Ten Principles of Economics Thinking Like an Economist Interdependence and the Gains from Trade The study of economics is guided by a few big ideas. Economists view the world as both scientists and policymakers. The theory of comparative advantage explains how people benefit from economic interdependence. PART TWO: SUPPLY AND DEMAND I: HOW MARKETS
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scarce resources ✓ Economics = the study of how humans (society) manage the scarce resources. All are subject to economic analysis because of scarce resources All are subject to economic analysis because of scarce resources Issues * College Education (Subject to economic analysis) * Church (Subject to economic analysis) * Business‚ Entrepreneurship (Subject to economic analysis) * Election (Subject to economic analysis) * Size of US family is down. * Romance + Marriage
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macroeconomics is different from microeconomics. Please give examples. What is economics? Before we start to learn about economics‚ we have to understand that what is the different between macroeconomics and microeconomics. Macroeconomics and microeconomics are the main branches of economics. (Karl E. Case‚ Ray C. Fair and Sharon M. Oster (2012): Principles of Economics‚ 10th ed. Global Edition‚ Chapter 1). And‚ I will describe that with examples. Microeconomics seems likes the “trees”. It studies
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Tuition Reimbursement Policy Matrix Drilling Products believes in offering some form of assistance to employees who strive in furthering their education. Our organization understands that each individual requires varies educational as well as institution needs. Therefore‚ Matrix Drilling products will consider and make a reasonable decision when providing tuition reimbursement to any qualified employee. The Company will reduce the amount of grants‚ scholarships‚ and other financial aid or course
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Out of State Tuition Waiver Request By: ……….. / MBA program- ….. State University Many reputable and accredited universities offer “out of state tuition waiver” to international students‚ especially those who are motivated‚ enthusiastic‚ and have a systematic and creative way of thinking‚ excellent communication skills‚ and great leadership potential. They aim to enrich their classes by integrating the student’s international broad experience and diverse cultural background which is
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ECONOMIC THEORY EET 200: MICROECONOMICS THEORY II Copyright © Kenyatta University‚ 2011 All Rights Reserved Published By: KENYATTA UNIVERSITY PRESS INTRODUCTION OBJECTIVES TABLE OF CONTENTS CONSUMER THEORY LECTURE ONE. LECTURE OBJECTIVES In your elementary microeconomics‚ the basic principles of consumer
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Why Universities Shouldn’t Increase Tuition Every Year One major problem with universities today is that they are constantly raising tuition fees. I’m not talking about raising tuition every now and then‚ I’m talking about those colleges that increase their tuition every year. With today’s economy‚ this is simply not helping the students. The university I am currently attending is planning on increasing the tuition by almost $1‚000. This is crazy. What colleges need to start doing is taking a better
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