Managerial Economics: myths and realities 1.pptxssalially
This document provides an overview of a Managerial Economics course. It outlines the course objectives, topics to be covered, teaching methods, assessment criteria, and recommended reading materials. The key topics include an introduction to economic concepts, production possibilities, market analysis, elasticity, production and cost theories, and market structures. The overall aim is to equip students with economic tools and techniques to analyze business decisions and strategies.
This document provides an overview of the subject of Managerial Economics. It begins by defining Managerial Economics as the application of economic theory and quantitative techniques to solve business problems related to managerial decision making. It then discusses the nature of Managerial Economics, noting that it draws on microeconomic theory and tools like mathematical economics and econometrics. The document also explains how economics relates to managerial decision problems and gives several examples. Finally, it briefly discusses the role of scarcity in managerial decision making, as businesses must allocate their limited resources efficiently among competing ends.
Business Economics unit-1 Osmania University IMBA Balasri Kamarapu
Managerial economics is the application of economic theory and methodology to managerial decision making. It helps managers make optimal decisions about allocating scarce resources. Some key concepts in managerial economics include opportunity cost, incremental cost, time perspective, discounting, and the equi-marginal principle. Opportunity cost refers to the next best alternative forgone in making a decision. Incremental cost is the additional cost of producing one more unit. Managers must consider both short-run and long-run time perspectives. Discounting accounts for the time value of money by calculating present values. The equi-marginal principle suggests allocating resources to equalize marginal productivity gains across activities.
This set of lecture slides presents the 'Introduction to Macroeconomics' for MSc Economics students, mainly taken from Richard T. Froyen's book of Macroeconomics.
Premier University
[B.B.A]
Course Teacher: Assistant Professor. Anupam Das
University of Chittagong
Course Title: Managerial Economic
Presentation Subject: Introduction to Managerial Economic
Semester: 7th Section: “A” Batch :22nd
Group Name: D’14
E-mail : mdsaimonchy@yahoo.com
This document summarizes the first year of a three-year BSc in Business Administration program.
Year 1 consists of studying the International Diploma in Business (IDB), which is equivalent to the first year of a UK honors degree. The IDB is delivered over two 15-week semesters through four modules per semester. It requires around 400 hours of compulsory study, including classroom time and independent work.
The IDB serves as the starting point for students embarking on a business career, covering introductory business topics through modules such as Management, Economics, Communications, and Understanding Business Organizations.
1_Introduction to crops and livestock production economicsDICKSON MGAYA
This document provides an overview of the course AEA 201: Production Economics. It includes information on course credits, objectives, content, assignments and assessment. The course aims to teach students how to apply production economic principles to analyze farm business enterprises. Key topics covered include production and cost functions, input-output decisions, and economies of scale. Students will complete two assignments, a test, and final exam as part of their assessment.
Introduction to Managerial Economics, What is Business Economics, Definition,SCOPE OF ECONOMICS, Scope of BE in Managerial Decision Making, Role of business economics,Comparing Business Economics And Economics, Relevance of Business Economics, Factors of Production, CENTRAL PROBLEMS OF AN ECONOMY OR BASIC ECONOMIC PROBLEMS
Managerial Economics: myths and realities 1.pptxssalially
This document provides an overview of a Managerial Economics course. It outlines the course objectives, topics to be covered, teaching methods, assessment criteria, and recommended reading materials. The key topics include an introduction to economic concepts, production possibilities, market analysis, elasticity, production and cost theories, and market structures. The overall aim is to equip students with economic tools and techniques to analyze business decisions and strategies.
This document provides an overview of the subject of Managerial Economics. It begins by defining Managerial Economics as the application of economic theory and quantitative techniques to solve business problems related to managerial decision making. It then discusses the nature of Managerial Economics, noting that it draws on microeconomic theory and tools like mathematical economics and econometrics. The document also explains how economics relates to managerial decision problems and gives several examples. Finally, it briefly discusses the role of scarcity in managerial decision making, as businesses must allocate their limited resources efficiently among competing ends.
Business Economics unit-1 Osmania University IMBA Balasri Kamarapu
Managerial economics is the application of economic theory and methodology to managerial decision making. It helps managers make optimal decisions about allocating scarce resources. Some key concepts in managerial economics include opportunity cost, incremental cost, time perspective, discounting, and the equi-marginal principle. Opportunity cost refers to the next best alternative forgone in making a decision. Incremental cost is the additional cost of producing one more unit. Managers must consider both short-run and long-run time perspectives. Discounting accounts for the time value of money by calculating present values. The equi-marginal principle suggests allocating resources to equalize marginal productivity gains across activities.
This set of lecture slides presents the 'Introduction to Macroeconomics' for MSc Economics students, mainly taken from Richard T. Froyen's book of Macroeconomics.
Premier University
[B.B.A]
Course Teacher: Assistant Professor. Anupam Das
University of Chittagong
Course Title: Managerial Economic
Presentation Subject: Introduction to Managerial Economic
Semester: 7th Section: “A” Batch :22nd
Group Name: D’14
E-mail : mdsaimonchy@yahoo.com
This document summarizes the first year of a three-year BSc in Business Administration program.
Year 1 consists of studying the International Diploma in Business (IDB), which is equivalent to the first year of a UK honors degree. The IDB is delivered over two 15-week semesters through four modules per semester. It requires around 400 hours of compulsory study, including classroom time and independent work.
The IDB serves as the starting point for students embarking on a business career, covering introductory business topics through modules such as Management, Economics, Communications, and Understanding Business Organizations.
1_Introduction to crops and livestock production economicsDICKSON MGAYA
This document provides an overview of the course AEA 201: Production Economics. It includes information on course credits, objectives, content, assignments and assessment. The course aims to teach students how to apply production economic principles to analyze farm business enterprises. Key topics covered include production and cost functions, input-output decisions, and economies of scale. Students will complete two assignments, a test, and final exam as part of their assessment.
Introduction to Managerial Economics, What is Business Economics, Definition,SCOPE OF ECONOMICS, Scope of BE in Managerial Decision Making, Role of business economics,Comparing Business Economics And Economics, Relevance of Business Economics, Factors of Production, CENTRAL PROBLEMS OF AN ECONOMY OR BASIC ECONOMIC PROBLEMS
This chapter reviews literature on macroeconomic modeling and forecasting. It discusses the development of structural models based on Keynesian theory from the 1930s-1970s, which were popularized by the Cowles Commission. These models included consumption, investment, income, and price equations. The chapter evaluates the forecasting performance of early large-scale models, finding most errors were reasonable out to 8 quarters ahead. However, models struggled during the economic turbulence of the 1970s, missing turning points. While structural models have conceptual ties to theory, atheoretical models may serve as an alternative when assessing large shocks, as economic cycles are not necessarily systematic.
Managerial economics combines economics and management to study how managers can apply economic principles and quantitative tools to make effective business decisions involving allocating scarce resources. It provides a theoretical framework for finance, marketing, operations research and accounting. Managerial economics helps maximize a business's value by efficiently allocating resources and determining optimal prices and output levels. It considers microeconomic market conditions and macroeconomic factors to help managers address questions about market structure, costs, revenues and risks involved in key business decisions.
This lesson introduces students to applied economics. It defines key economic concepts like scarcity, needs, wants, opportunity costs, and different types of economic systems. Students learn about the basic economic problems of what, how much, and for whom to produce goods and services. They are introduced to factors of production, circular flow of economic activities, production possibility frontier, and quantitative and qualitative methods used in economic analysis like functions, graphs, theories, and time-series/cross-sectional data. The goal is for students to understand basic applied economic terms and tools.
1. The chapter introduces macroeconomics and the tools used by macroeconomists to study issues like economic growth, unemployment, inflation, and the effects of government policies.
2. Macroeconomic models use simplified representations of the economy to show relationships between variables and explain economic behavior. Assumptions about price flexibility impact whether a model applies to short-run or long-run analysis.
3. Macroeconomics analyzes the whole economy and links microeconomic decisions of households and firms to macroeconomic outcomes. Different models address different issues over different time periods.
Price elasticity is a crucial concept in economicsSAINATHYADAV11
Price elasticity is a crucial concept in economics that measures the responsiveness of quantity demanded or supplied to changes in price. Understanding price elasticity is vital for businesses, policymakers, and economists as it helps predict the impact of price changes on market behavior and revenue. Here's why price elasticity is important:
1. Determining Revenue Impact: Price elasticity helps businesses predict how changes in price will affect their total revenue. If demand is elastic (responsive to price changes), decreasing prices may lead to higher revenue. Conversely, if demand is inelastic (insensitive to price changes), increasing prices may result in higher revenue.
2. Optimizing Pricing Strategies: Businesses can use price elasticity to determine the optimal pricing strategy for their products or services. By understanding the price sensitivity of consumers, companies can set prices that maximize profitability and market share.
3. Forecasting Market Behavior: Price elasticity provides insights into consumer behavior and market dynamics. It helps forecast how changes in prices, incomes, or competitor actions will impact demand and market equilibrium.
4. Policy Decision Making: Policymakers use price elasticity to design and evaluate economic policies, such as taxation, subsidies, and regulations. Understanding the elasticity of supply and demand helps assess the effectiveness and unintended consequences of policy interventions.
There are five cases of price elasticity of demand
A. Perfectly elastic demand:
When small change in price leads to an infinitely large change is quantity demand, it is called perfectly or infinitely elastic demand. In this case E=∞. Sometimes, even there is no change in the price, the demand changes in huge quantity. In case of perfect elastic demand, the demand for a commodity changes even though there is no change in price. This elasticity is very rarely found in practice. We can see a straight line demand curve parallel to the X axis
Ep = ((Q2 − Q1)/Q1) /((P2 − P1)/P1)
𝐸𝑝 = (1000 − 100)/100 /(10 − 10)/10 = ∞
The demand curve is horizontal straight line. It shows the at Rs. 10 price any quantity is demanded and if price increases, the consumer will not purchase the commodity.
B. Perfectly Inelastic Demand
A commodity is said to have perfectly inelastic demand, when even a large change in price of the commodity causes no change in the quantity demanded. The elasticity coefficient of perfectly in elastic demand is Ep = 0.
The shape of the demand curve for perfectly inelastic is vertical as shown below.
Price Demand
10 100
20 100
Ep = ((Q2 − Q1)/Q1) /((P2 − P1)/P1)
𝐸𝑝 = (100 − 100)/100 /(20 − 10)/10 = 0
When price increases from Rs. 10 to Rs.20, the quantity demanded remains the same. In other words the response of demand to a change in Price is nil. In this case ‗E‘=0.
C. Relatively elastic demand:
Demand changes more than proportionately to a change in price. i.e. a small change in price leads to
Managerial economics emerged to address the growing complexity of business decision making due to changing market conditions. It applies economic theories and analysis to business problems and decisions. Microeconomics examines individual and firm behavior and issues like production, costs, pricing, and profits. Macroeconomics analyzes whole economies and external issues like growth, employment, prices and government policy. A managerial economist assists with demand forecasting, market analysis, pricing, investment decisions, and evaluating the economic environment to inform business planning and strategy. The key is to apply economic logic and tools to optimize business decision making under various market conditions.
ECO 202 Milestone Three Guidelines and Rubric Monetary Pol.docxMARRY7
ECO 202 Milestone Three Guidelines and Rubric: Monetary Policies
Continue your observation of the 10-year period selected for Milestones One and Two, and research the government monetary policies during that timeframe.
Specifically, the following critical elements must be addressed:
Examine the monetary policies in place at the start of your specific time period in relation to their effects on macroeconomic issues. For instance,
consider the discount rate set by the Fed, the rates on reserves, open market operations, and so on.
Analyze new monetary policy actions undertaken by the U.S. government throughout the time period by describing their intended effects, using
macroeconomic principles to explain the actions.
Explain the impact of the new monetary policy actions on individuals and businesses within the economy by integrating the macroeconomic data and
principles.
Guidelines for Submission: Your monetary policies milestone should be 3–5 slides, not including title or reference slides, and include speaker notes to
accompany the slides. Your reference list slide needs to be in APA format.
Instructor Feedback: This activity uses an integrated rubric in Blackboard. Students can view instructor feedback in the Grade Center. For more information,
review these instructions.
Critical Elements Proficient (100%) Needs Improvement (75%) Not Evident (0%) Value
Monetary Policies
Examines the monetary policies in
place at the start of the selected
time period in relation to their
effects on macroeconomic issues,
and provides information in speaker
notes
Examines the monetary policies in
place at the start of the selected
time period, but does not relate
them to their effects on
macroeconomic issues, or does not
provide information in speaker
notes
Does not examine the monetary
policies in place at the start of the
selected time period
30
Policy Actions
Analyzes new monetary policy
actions undertaken by the U.S.
government throughout the time
period by describing their intended
effects, uses macroeconomic
principles to explain the actions,
and provides information in speaker
notes
Analyzes new monetary policy
actions undertaken by the U.S.
government throughout the time
period, but does not describe their
intended effects, does not use
macroeconomic principles to
explain the actions, or does not
provide information in speaker
notes
Does not analyze new monetary
policy actions undertaken by the
U.S. government throughout the
time period
30
http://snhu-media.snhu.edu/files/production_documentation/formatting/rubric_feedback_instructions_student.pdf
Impact
Comprehensively explains the
impact of the new monetary policy
actions on individuals and
businesses within the economy by
integrating the macroeconomic
data and principles, and provides
information in speaker notes
Explains the impact of the new
monetary policy actions on
individuals and bus ...
1. What products and styles should I offer to meet customer demand and maximize profits?
2. How should I price my products to be competitive yet profitable?
3. What costs will I incur to operate the business and how can I control costs to ensure profitability?
Economists play two roles as scientists who develop theories and models to explain how the world works, and as policy advisors who make recommendations to improve economic outcomes. The document introduces two common economic models - the circular flow diagram which illustrates how resources and goods flow between households and businesses, and the production possibilities frontier which represents the tradeoffs between producing different goods given limited resources. Microeconomics studies individual decision making while macroeconomics looks at aggregate economic measures.
A Guide For Harvard S Sophomore Economics ConcentratorsCynthia King
This document provides guidance for writing economics papers for Harvard sophomore economics concentrators. It discusses the key aspects of economics writing including research, organization, and analysis. It emphasizes clarity and outlines the standard structure for economics papers. An example from a published economics paper models how to clearly set up a research question and situate it within the relevant literature. The document then provides tips for writing economics papers, including breaking tasks into smaller parts, demonstrating knowledge of economic theories and evidence, and using models to organize analysis. Overall, the document aims to help students think and write like economists by focusing on research, organization, and clear analysis.
This document provides an overview of a Principles of Macroeconomics course. It outlines the course content which covers topics such as aggregate expenditure, fiscal policy, money and monetary policy, aggregate demand and supply, unemployment, inflation, economic growth, and open economy macroeconomics. The objectives are to provide students with a basic understanding of macroeconomic concepts and models and enable them to apply their knowledge to current economic issues and policy analysis. The course will be implemented through lectures, discussions, exams and class participation. Suggested textbooks are also listed.
The document summarizes a literature review on market orientation and SME performance in developing countries. The review analyzed 252 articles and found that most studied the relationship between MO and performance in large firms in developed countries. It identified common antecedents and moderators of the MO-performance relationship. Most studies used quantitative methods and questionnaires. While most found a positive relationship, the evidence for SMEs was equivocal. Measures and methodology used affected results. Future research on SMEs is still needed using mixed methods.
economics chapter 1 and chapChapter 1.pptxabiabina1
The document provides an outline for an economics course covering microeconomic and macroeconomic concepts. It includes:
1) 6 chapters that will cover the nature of economics, demand and supply theories, consumer behavior, production and costs, market structure, and fundamental macroeconomic concepts.
2) Each chapter is further broken down into sections that will be taught, such as the definition of economics, scarcity and choice, economic systems, and the circular flow model.
3) The course aims to enable students to use economic tools to analyze micro and macroeconomic issues and answer questions about resources, demand, production, and markets.
This document outlines an assessment task for a Stage 1 Economics course. Students are asked to analyze 4 media articles about economic issues using 4 key economic concepts: scarcity, opportunity cost, use of resources, and benefit-cost analysis. For each article, students must define the concept, analyze how the article illustrates it, and discuss how it shows an understanding of economic interdependence. Submissions are limited to 800 words and must include the articles. The assessment criteria evaluate students' knowledge and understanding of economics, ability to analyze issues, and communication skills when discussing concepts, principles and using terminology. Performance standards range from A (comprehensive and astute) to E (emerging and limited).
for Mankiw, MACROECONOMICS, Ninth Editionhttpwww.ma.docxAKHIL969626
for Mankiw, MACROECONOMICS, Ninth Edition
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SCAN here for a sample
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M A C R O E C O N O M I C S
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N. GREGORY MANKIW
Harvard University
NINTH EDITION
M A C R O E C O N O M I C S
A Macmillan Education Imprint
New York
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...
Applied economics involves applying basic economic theories and econometrics to real-world situations to determine what outcomes are most likely. The document discusses positive economics, which objectively studies existing economic phenomena; normative economics, which considers what policies should aim to achieve; and applied economics, which examines the relationship between positive and normative economics through industry-specific research. Applied economics programs focus on concrete examples and specific conclusions to interpret real-world issues.
In economics, a model is a theoretical construct representing economic processes by a set of variables and a set of logical and/or quantitative relationships between them. The economic model is a simplified framework designed to illustrate complex processes, often but not always using mathematical techniques. Frequently, economic models posit structural parameters. Structural parameters are underlying parameters in a model or class of models. A model may have various parameters and those parameters may change to create various properties. Methodological uses of models include investigation, theorizing, and fitting theories to the world.
The document summarizes key concepts in economics. It discusses how economists use the scientific method of observation, theory development, and testing theories with data. It introduces two common economic models: the circular flow diagram which shows the flow of goods and services between households and firms, and the production possibilities frontier which shows the tradeoffs in producing different quantities of goods given limited resources. It distinguishes between microeconomics which studies household and firm decision-making, and macroeconomics which studies economy-wide phenomena. Economists contribute as policy advisors, making positive statements about what is and normative statements about what ought to be. Economists sometimes disagree due to differences in scientific judgments or values.
This document provides an outline for an introductory macroeconomics course. It includes the course description, content, textbooks, delivery methods, and assessment. It also summarizes the key ideas from Chapter 1 on the evolution of macroeconomic thought from classical to Keynesian to new classical and new Keynesian schools of thought. The chapter objectives are to understand what macroeconomics studies, its historical development, and differences between the major schools of thought.
The document discusses the economic environment, defining it as the economic factors that influence business operations. It covers topics such as the components and structure of an economy, the factors that make up the economic environment, and how it is classified into micro and macro levels. The economic environment is influenced by income, employment, productivity, inflation, interest rates, exchange rates, and monetary/fiscal policies. Understanding the economic environment is important for businesses to identify opportunities and challenges and function properly within the economic system.
This chapter reviews literature on macroeconomic modeling and forecasting. It discusses the development of structural models based on Keynesian theory from the 1930s-1970s, which were popularized by the Cowles Commission. These models included consumption, investment, income, and price equations. The chapter evaluates the forecasting performance of early large-scale models, finding most errors were reasonable out to 8 quarters ahead. However, models struggled during the economic turbulence of the 1970s, missing turning points. While structural models have conceptual ties to theory, atheoretical models may serve as an alternative when assessing large shocks, as economic cycles are not necessarily systematic.
Managerial economics combines economics and management to study how managers can apply economic principles and quantitative tools to make effective business decisions involving allocating scarce resources. It provides a theoretical framework for finance, marketing, operations research and accounting. Managerial economics helps maximize a business's value by efficiently allocating resources and determining optimal prices and output levels. It considers microeconomic market conditions and macroeconomic factors to help managers address questions about market structure, costs, revenues and risks involved in key business decisions.
This lesson introduces students to applied economics. It defines key economic concepts like scarcity, needs, wants, opportunity costs, and different types of economic systems. Students learn about the basic economic problems of what, how much, and for whom to produce goods and services. They are introduced to factors of production, circular flow of economic activities, production possibility frontier, and quantitative and qualitative methods used in economic analysis like functions, graphs, theories, and time-series/cross-sectional data. The goal is for students to understand basic applied economic terms and tools.
1. The chapter introduces macroeconomics and the tools used by macroeconomists to study issues like economic growth, unemployment, inflation, and the effects of government policies.
2. Macroeconomic models use simplified representations of the economy to show relationships between variables and explain economic behavior. Assumptions about price flexibility impact whether a model applies to short-run or long-run analysis.
3. Macroeconomics analyzes the whole economy and links microeconomic decisions of households and firms to macroeconomic outcomes. Different models address different issues over different time periods.
Price elasticity is a crucial concept in economicsSAINATHYADAV11
Price elasticity is a crucial concept in economics that measures the responsiveness of quantity demanded or supplied to changes in price. Understanding price elasticity is vital for businesses, policymakers, and economists as it helps predict the impact of price changes on market behavior and revenue. Here's why price elasticity is important:
1. Determining Revenue Impact: Price elasticity helps businesses predict how changes in price will affect their total revenue. If demand is elastic (responsive to price changes), decreasing prices may lead to higher revenue. Conversely, if demand is inelastic (insensitive to price changes), increasing prices may result in higher revenue.
2. Optimizing Pricing Strategies: Businesses can use price elasticity to determine the optimal pricing strategy for their products or services. By understanding the price sensitivity of consumers, companies can set prices that maximize profitability and market share.
3. Forecasting Market Behavior: Price elasticity provides insights into consumer behavior and market dynamics. It helps forecast how changes in prices, incomes, or competitor actions will impact demand and market equilibrium.
4. Policy Decision Making: Policymakers use price elasticity to design and evaluate economic policies, such as taxation, subsidies, and regulations. Understanding the elasticity of supply and demand helps assess the effectiveness and unintended consequences of policy interventions.
There are five cases of price elasticity of demand
A. Perfectly elastic demand:
When small change in price leads to an infinitely large change is quantity demand, it is called perfectly or infinitely elastic demand. In this case E=∞. Sometimes, even there is no change in the price, the demand changes in huge quantity. In case of perfect elastic demand, the demand for a commodity changes even though there is no change in price. This elasticity is very rarely found in practice. We can see a straight line demand curve parallel to the X axis
Ep = ((Q2 − Q1)/Q1) /((P2 − P1)/P1)
𝐸𝑝 = (1000 − 100)/100 /(10 − 10)/10 = ∞
The demand curve is horizontal straight line. It shows the at Rs. 10 price any quantity is demanded and if price increases, the consumer will not purchase the commodity.
B. Perfectly Inelastic Demand
A commodity is said to have perfectly inelastic demand, when even a large change in price of the commodity causes no change in the quantity demanded. The elasticity coefficient of perfectly in elastic demand is Ep = 0.
The shape of the demand curve for perfectly inelastic is vertical as shown below.
Price Demand
10 100
20 100
Ep = ((Q2 − Q1)/Q1) /((P2 − P1)/P1)
𝐸𝑝 = (100 − 100)/100 /(20 − 10)/10 = 0
When price increases from Rs. 10 to Rs.20, the quantity demanded remains the same. In other words the response of demand to a change in Price is nil. In this case ‗E‘=0.
C. Relatively elastic demand:
Demand changes more than proportionately to a change in price. i.e. a small change in price leads to
Managerial economics emerged to address the growing complexity of business decision making due to changing market conditions. It applies economic theories and analysis to business problems and decisions. Microeconomics examines individual and firm behavior and issues like production, costs, pricing, and profits. Macroeconomics analyzes whole economies and external issues like growth, employment, prices and government policy. A managerial economist assists with demand forecasting, market analysis, pricing, investment decisions, and evaluating the economic environment to inform business planning and strategy. The key is to apply economic logic and tools to optimize business decision making under various market conditions.
ECO 202 Milestone Three Guidelines and Rubric Monetary Pol.docxMARRY7
ECO 202 Milestone Three Guidelines and Rubric: Monetary Policies
Continue your observation of the 10-year period selected for Milestones One and Two, and research the government monetary policies during that timeframe.
Specifically, the following critical elements must be addressed:
Examine the monetary policies in place at the start of your specific time period in relation to their effects on macroeconomic issues. For instance,
consider the discount rate set by the Fed, the rates on reserves, open market operations, and so on.
Analyze new monetary policy actions undertaken by the U.S. government throughout the time period by describing their intended effects, using
macroeconomic principles to explain the actions.
Explain the impact of the new monetary policy actions on individuals and businesses within the economy by integrating the macroeconomic data and
principles.
Guidelines for Submission: Your monetary policies milestone should be 3–5 slides, not including title or reference slides, and include speaker notes to
accompany the slides. Your reference list slide needs to be in APA format.
Instructor Feedback: This activity uses an integrated rubric in Blackboard. Students can view instructor feedback in the Grade Center. For more information,
review these instructions.
Critical Elements Proficient (100%) Needs Improvement (75%) Not Evident (0%) Value
Monetary Policies
Examines the monetary policies in
place at the start of the selected
time period in relation to their
effects on macroeconomic issues,
and provides information in speaker
notes
Examines the monetary policies in
place at the start of the selected
time period, but does not relate
them to their effects on
macroeconomic issues, or does not
provide information in speaker
notes
Does not examine the monetary
policies in place at the start of the
selected time period
30
Policy Actions
Analyzes new monetary policy
actions undertaken by the U.S.
government throughout the time
period by describing their intended
effects, uses macroeconomic
principles to explain the actions,
and provides information in speaker
notes
Analyzes new monetary policy
actions undertaken by the U.S.
government throughout the time
period, but does not describe their
intended effects, does not use
macroeconomic principles to
explain the actions, or does not
provide information in speaker
notes
Does not analyze new monetary
policy actions undertaken by the
U.S. government throughout the
time period
30
http://snhu-media.snhu.edu/files/production_documentation/formatting/rubric_feedback_instructions_student.pdf
Impact
Comprehensively explains the
impact of the new monetary policy
actions on individuals and
businesses within the economy by
integrating the macroeconomic
data and principles, and provides
information in speaker notes
Explains the impact of the new
monetary policy actions on
individuals and bus ...
1. What products and styles should I offer to meet customer demand and maximize profits?
2. How should I price my products to be competitive yet profitable?
3. What costs will I incur to operate the business and how can I control costs to ensure profitability?
Economists play two roles as scientists who develop theories and models to explain how the world works, and as policy advisors who make recommendations to improve economic outcomes. The document introduces two common economic models - the circular flow diagram which illustrates how resources and goods flow between households and businesses, and the production possibilities frontier which represents the tradeoffs between producing different goods given limited resources. Microeconomics studies individual decision making while macroeconomics looks at aggregate economic measures.
A Guide For Harvard S Sophomore Economics ConcentratorsCynthia King
This document provides guidance for writing economics papers for Harvard sophomore economics concentrators. It discusses the key aspects of economics writing including research, organization, and analysis. It emphasizes clarity and outlines the standard structure for economics papers. An example from a published economics paper models how to clearly set up a research question and situate it within the relevant literature. The document then provides tips for writing economics papers, including breaking tasks into smaller parts, demonstrating knowledge of economic theories and evidence, and using models to organize analysis. Overall, the document aims to help students think and write like economists by focusing on research, organization, and clear analysis.
This document provides an overview of a Principles of Macroeconomics course. It outlines the course content which covers topics such as aggregate expenditure, fiscal policy, money and monetary policy, aggregate demand and supply, unemployment, inflation, economic growth, and open economy macroeconomics. The objectives are to provide students with a basic understanding of macroeconomic concepts and models and enable them to apply their knowledge to current economic issues and policy analysis. The course will be implemented through lectures, discussions, exams and class participation. Suggested textbooks are also listed.
The document summarizes a literature review on market orientation and SME performance in developing countries. The review analyzed 252 articles and found that most studied the relationship between MO and performance in large firms in developed countries. It identified common antecedents and moderators of the MO-performance relationship. Most studies used quantitative methods and questionnaires. While most found a positive relationship, the evidence for SMEs was equivocal. Measures and methodology used affected results. Future research on SMEs is still needed using mixed methods.
economics chapter 1 and chapChapter 1.pptxabiabina1
The document provides an outline for an economics course covering microeconomic and macroeconomic concepts. It includes:
1) 6 chapters that will cover the nature of economics, demand and supply theories, consumer behavior, production and costs, market structure, and fundamental macroeconomic concepts.
2) Each chapter is further broken down into sections that will be taught, such as the definition of economics, scarcity and choice, economic systems, and the circular flow model.
3) The course aims to enable students to use economic tools to analyze micro and macroeconomic issues and answer questions about resources, demand, production, and markets.
This document outlines an assessment task for a Stage 1 Economics course. Students are asked to analyze 4 media articles about economic issues using 4 key economic concepts: scarcity, opportunity cost, use of resources, and benefit-cost analysis. For each article, students must define the concept, analyze how the article illustrates it, and discuss how it shows an understanding of economic interdependence. Submissions are limited to 800 words and must include the articles. The assessment criteria evaluate students' knowledge and understanding of economics, ability to analyze issues, and communication skills when discussing concepts, principles and using terminology. Performance standards range from A (comprehensive and astute) to E (emerging and limited).
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M A C R O E C O N O M I C S
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N. GREGORY MANKIW
Harvard University
NINTH EDITION
M A C R O E C O N O M I C S
A Macmillan Education Imprint
New York
Vice President, Content Management: Catherine Woods
Vice President, Editorial, Sciences, and Social Sciences: Charles Linsmeier
Publisher: Shani Fisher
Developmental Editor: Jane E. Tufts
Editorial Assistant: Carlos Marin
Marketing Manager: Thomas Digiano
Marketing Assistant: Alexander Kaufman
Media Editor: Lukia Kliossis
Director, Content Management Enhancement: Tracey Kuehn
Managing Editor: Lisa Kinne
Project Editor: Julio Espin
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Director of Design, Content Management: Diana Blume
Cover and Text Designer: Kevin Kall
Senior Production Supervisor: Paul Rohloff
Composition: TSI evolve, Inc.
Printing and Binding: RR Donnelley
Cover Art: Sharon Paster
Library of Congress Control Number: 2015935681
...
Applied economics involves applying basic economic theories and econometrics to real-world situations to determine what outcomes are most likely. The document discusses positive economics, which objectively studies existing economic phenomena; normative economics, which considers what policies should aim to achieve; and applied economics, which examines the relationship between positive and normative economics through industry-specific research. Applied economics programs focus on concrete examples and specific conclusions to interpret real-world issues.
In economics, a model is a theoretical construct representing economic processes by a set of variables and a set of logical and/or quantitative relationships between them. The economic model is a simplified framework designed to illustrate complex processes, often but not always using mathematical techniques. Frequently, economic models posit structural parameters. Structural parameters are underlying parameters in a model or class of models. A model may have various parameters and those parameters may change to create various properties. Methodological uses of models include investigation, theorizing, and fitting theories to the world.
The document summarizes key concepts in economics. It discusses how economists use the scientific method of observation, theory development, and testing theories with data. It introduces two common economic models: the circular flow diagram which shows the flow of goods and services between households and firms, and the production possibilities frontier which shows the tradeoffs in producing different quantities of goods given limited resources. It distinguishes between microeconomics which studies household and firm decision-making, and macroeconomics which studies economy-wide phenomena. Economists contribute as policy advisors, making positive statements about what is and normative statements about what ought to be. Economists sometimes disagree due to differences in scientific judgments or values.
This document provides an outline for an introductory macroeconomics course. It includes the course description, content, textbooks, delivery methods, and assessment. It also summarizes the key ideas from Chapter 1 on the evolution of macroeconomic thought from classical to Keynesian to new classical and new Keynesian schools of thought. The chapter objectives are to understand what macroeconomics studies, its historical development, and differences between the major schools of thought.
The document discusses the economic environment, defining it as the economic factors that influence business operations. It covers topics such as the components and structure of an economy, the factors that make up the economic environment, and how it is classified into micro and macro levels. The economic environment is influenced by income, employment, productivity, inflation, interest rates, exchange rates, and monetary/fiscal policies. Understanding the economic environment is important for businesses to identify opportunities and challenges and function properly within the economic system.
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This PowerPoint compilation offers a comprehensive overview of 20 leading innovation management frameworks and methodologies, selected for their broad applicability across various industries and organizational contexts. These frameworks are valuable resources for a wide range of users, including business professionals, educators, and consultants.
Each framework is presented with visually engaging diagrams and templates, ensuring the content is both informative and appealing. While this compilation is thorough, please note that the slides are intended as supplementary resources and may not be sufficient for standalone instructional purposes.
This compilation is ideal for anyone looking to enhance their understanding of innovation management and drive meaningful change within their organization. Whether you aim to improve product development processes, enhance customer experiences, or drive digital transformation, these frameworks offer valuable insights and tools to help you achieve your goals.
INCLUDED FRAMEWORKS/MODELS:
1. Stanford’s Design Thinking
2. IDEO’s Human-Centered Design
3. Strategyzer’s Business Model Innovation
4. Lean Startup Methodology
5. Agile Innovation Framework
6. Doblin’s Ten Types of Innovation
7. McKinsey’s Three Horizons of Growth
8. Customer Journey Map
9. Christensen’s Disruptive Innovation Theory
10. Blue Ocean Strategy
11. Strategyn’s Jobs-To-Be-Done (JTBD) Framework with Job Map
12. Design Sprint Framework
13. The Double Diamond
14. Lean Six Sigma DMAIC
15. TRIZ Problem-Solving Framework
16. Edward de Bono’s Six Thinking Hats
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19. Microsoft’s Digital Transformation Framework
20. Design for Six Sigma (DFSS)
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3. Cours
e
Outcom
e
CO1:: apply the concept of various elasticities for taking
managerial decisions.
CO2:: apply the concepts of cost, nature of production
and its relationship to business operations.
CO3:: analyse the concept of price and output decisions
of firms under various market structure.
CO4:: analyse the impact of macroeconomic variables
on economic growth
CO5:: measure the various components of National
Income to evaluate its impact on the economy
CO6:: evaluate the monetary and fiscal policies to
control inflation.
5. Key Topics to be
Studied in the Subject
• Introduction of Managerial
Economics
• Demand Analysis
• Production and Cost function
• Market structure
6. Key Topics to be
Studied in the Subject
• Working of macroeconomics
environment
• National income concepts
• Money and inflation
• Monetary and fiscal policy
11. Evaluation
CA
Categor
y A0202
Total No. Of Assignments
= 2
Every CA will be of 30
marks
Attendance - 5 marks (gradings
apply)
Assignments have to be
submitted within the stipulated
time with plagiarism checks.
12.
13. List of Resources
Relevant Websites:
• Production Cost: Short Run and Long Run Costs | Saylor
Academy
• Market structures: definition - Policonomics
15. Student
s Role
Students are advised to use instruction
plan as rudder for their course study.
They are required to submit their
assignments well on time.
Students are advised to visit the websites
and other reference made in the
instruction plan.
They are required to participate in current
news discussion which impacting our
economy.
Newspaper discussion should be a
regular practice.