1. Determine whether each of the following is primarily a microeconomic or a macroeconomic issue: i. Setting the price for a cup of coffee. Microeconomic because this is technically the decision of an individual’s decision ii. Measuring the impact of tax policies on total household spending in the economy Macroeconomic because this is a government decision iii. A household’s decision regarding whether or not to go on vacation – Microeconomic because again‚ it is an individual’s
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ch2 Student: ___________________________________________________________________________ 1. Record levels of American outward foreign direct investment from 2000 to 2009‚ totaling more than $2 trillion‚ caused U.S. exports to decline during this time period. True False 2. Small and medium-sized enterprises accounted for nearly one-third of all U.S. exporters. True False 3. International trade includes exports‚ imports‚ and foreign direct investment. True False 4. Importing and foreign direct
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PowerPoint Slides Prepared by Robert F. Brooker‚ Ph.D. Copyright 2007 by Oxford University Press‚ Inc. Slide 1 Qualitative Forecasts • Survey Techniques – Planned Plant and Equipment Spending – Expected Sales and Inventory Changes – Consumers’ Expenditure Plans • Opinion Polls – Business Executives – Sales Force – Consumer Intentions PowerPoint Slides Prepared by Robert F. Brooker‚ Ph.D. Copyright 2007 by Oxford University Press‚ Inc. Slide 2 PowerPoint Slides Prepared
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Unit – I Nature & Scope of Managerial Economics Contents Fundamental Economics Concepts: Opportunity Cost‚ Discounting principle‚ Time perspective‚ Incremental reasoning‚ Equi-marginal concept. Marginal concept in economics. Economics of information: Risk‚ Uncertainty‚ Asymmetry of information‚ Adverse Selection‚ Market Signaling. The theory of firm; Econometric Models & Economic optimization. ____________________________________________________________________________________
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The Nature and Scope of Managerial Economics Managerial Economics • Managerial economics‚ meaning the application of economic methods in the managerial decisionmaking process‚ and it is a fundamental part of any business. This is happening for several reasons It is becoming more important for managers to make good decisions and to justify them‚ as their accountability either to management or to shareholders increases. Number and size of multinationals increases‚ the costs and benefits
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PROGRAMME STRUCTURE FOR IIPM (C) & ISBE (PG) S No Subject Credit 1. Economics for Managerial Decision Making - II 2 2. Executive Communication 2 3. Financial Management 3 4. Human Resource Management 2 5. Operations & Optimization Research 3 6. Management Information System & KM 3 7. National Economic Planning (Theory & Presentation) 3 8. Sales Management 2 Total Credits 20 IMPORTANT NOTE All the students of IIPM (C) & ISBE (PG) will study all the eight papers indicated in our course
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Science of Managerial Economics Running successful businesses requires involvement of well experienced and talented managers; all companies’ stakeholders concern‚ in running companies‚ is to make profits and expectation is on managers’ part to make such desire become the fact of reality. One of the tools managers use to analyse company’s performances and be able to make intelligent decisions- for further profitability and sustainability of the corporations- is by economical tool. “managerial economics
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Economics Unit 1 Review Economics – the study of how to distribute scarce resources among competing ends Microeconomics – focuses on individual consumers and businesses Macroeconomics – takes a broad view of the economy 3 Basic questions any society must answer * What to produce * How to produce * For whom to produce Economists assume that economic decision makers maximize their own utility. Utility is the satisfaction or pleasure from any action. Economists assume the
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Managerial Economics Comm 295 Class 1 1. Course Outline 2. Introduction 3. Supply and Demand THE UNIVERSITY OF BRITISH COLUMBIA 1. Outline Instructor: James Brander Vista: An outline and old assignments and exams (with answers) are posted. Class notes will be posted before each class. Questions corresponding to the textbook and selected answers will be posted. Course Description: Economic foundations of managerial decision–making. The early topics review and extend material from first
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Unit 7 Assignment Student Name: Magida Taracena 1. Why does inflation make nominal GDP a poor measure of the increase in total production? -Nominal GDP is the value of final goods and services evaluated at current-year prices and are calculated by summing the current values of final goods and services. In the other hand‚ the real GDP is and services in the base year to calculate the value of goods and
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