Principles of macroeconomics
•Download as PPTX, PDF•
1 like•2,018 views
This document summarizes key concepts from Lecture 2 of a macroeconomics course. It defines theory as a framework for understanding relationships between cause and effect. Economic models are then introduced as simplified representations of how parts of the economy function, relying on assumptions and economic variables that can take different values. Rational behavior and marginal concepts are explained, showing how rational actors make decisions by weighing marginal costs against marginal benefits. Finally, principles of economics are outlined regarding how individuals make decisions, interact in markets, and how the overall economy works.
Report
Share
Report
Share
Recommended
Microeconomics : Market Failure
The document discusses demand and supply theory, laws of demand and supply, and equilibrium. It also discusses market failures including externalities, imperfect information, and market dominance. Market failures can result in both productive and allocative inefficiencies where optimal output and allocation of resources are not achieved.
Income elasticity of demand
income elasticity of demand basically measures the relationship between change in quantity demanded for particular good and a change in real income.
Micro_ch21_presentation.ppt
The document discusses the theory of consumer choice. It explains that consumers face budget constraints based on their income and prices, and have preferences represented by indifference curves. Consumers will optimize their choice of goods by selecting the bundle on their budget constraint that is tangent to the highest indifference curve, where the marginal rate of substitution equals the relative price ratio. Changes in income or prices can shift the budget constraint or change relative prices, impacting the optimal bundle.
Principles of economics (Chapter 1)
This chapter introduces some of the key principles of economics. It discusses that economics addresses questions about how societies manage scarce resources. It explores four main principles: how people make decisions, how people interact, how markets usually provide a good way to organize economic activity, and how governments can sometimes improve market outcomes. The chapter provides examples and discussion of opportunity costs, incentives, trade, and the role of prices in allocating resources. It also addresses how a country's standard of living depends on its ability to produce goods and services.
Income elasticity of demand
Income elasticity of demand measures the responsiveness of demand for a good to changes in consumer income. There are three types:
1) Normal goods have a positive income elasticity - demand increases as income rises. Luxury goods have an elasticity greater than 1.
2) Inferior goods have a negative elasticity - demand decreases as income rises.
3) Some goods like necessities have an inelastic positive elasticity between 0 and 1.
The document provides examples and formulas for calculating income elasticity. It explains how businesses can use elasticity figures to forecast demand and make investment decisions depending on whether demand is more sensitive or stable to economic cycles.
Market failure
1. Market failure occurs when the conditions for perfect competition are not met, resulting in inefficient resource allocation. Some causes of market failure include monopoly, externalities, public goods, imperfect information, and non-existent markets.
2. Externalities occur when the actions of one economic unit unintentionally impact another in an uncompensated way, such as pollution from factories. This leads to a divergence between private and social costs/benefits.
3. For goods with public goods characteristics of non-rivalry and non-excludability, like national defense, there is no market mechanism to efficiently allocate resources, as they cannot be priced. This results in underprovision of public goods.
Cost function
This presentation introduces linear equations. It defines key terms like slope and y-intercept. Examples are provided to illustrate how to calculate the slope between two points and write the equation of a line given two points. Applications of linear equations in business are also discussed, including cost functions, break-even analysis and calculating mark-up. Homework problems are assigned from a Bowen textbook involving these concepts.
Consumer surplus and price changes
Here is a sample answer to this question "Evaluate the impact of changes in price on consumer surplus".
Recommended
Microeconomics : Market Failure
The document discusses demand and supply theory, laws of demand and supply, and equilibrium. It also discusses market failures including externalities, imperfect information, and market dominance. Market failures can result in both productive and allocative inefficiencies where optimal output and allocation of resources are not achieved.
Income elasticity of demand
income elasticity of demand basically measures the relationship between change in quantity demanded for particular good and a change in real income.
Micro_ch21_presentation.ppt
The document discusses the theory of consumer choice. It explains that consumers face budget constraints based on their income and prices, and have preferences represented by indifference curves. Consumers will optimize their choice of goods by selecting the bundle on their budget constraint that is tangent to the highest indifference curve, where the marginal rate of substitution equals the relative price ratio. Changes in income or prices can shift the budget constraint or change relative prices, impacting the optimal bundle.
Principles of economics (Chapter 1)
This chapter introduces some of the key principles of economics. It discusses that economics addresses questions about how societies manage scarce resources. It explores four main principles: how people make decisions, how people interact, how markets usually provide a good way to organize economic activity, and how governments can sometimes improve market outcomes. The chapter provides examples and discussion of opportunity costs, incentives, trade, and the role of prices in allocating resources. It also addresses how a country's standard of living depends on its ability to produce goods and services.
Income elasticity of demand
Income elasticity of demand measures the responsiveness of demand for a good to changes in consumer income. There are three types:
1) Normal goods have a positive income elasticity - demand increases as income rises. Luxury goods have an elasticity greater than 1.
2) Inferior goods have a negative elasticity - demand decreases as income rises.
3) Some goods like necessities have an inelastic positive elasticity between 0 and 1.
The document provides examples and formulas for calculating income elasticity. It explains how businesses can use elasticity figures to forecast demand and make investment decisions depending on whether demand is more sensitive or stable to economic cycles.
Market failure
1. Market failure occurs when the conditions for perfect competition are not met, resulting in inefficient resource allocation. Some causes of market failure include monopoly, externalities, public goods, imperfect information, and non-existent markets.
2. Externalities occur when the actions of one economic unit unintentionally impact another in an uncompensated way, such as pollution from factories. This leads to a divergence between private and social costs/benefits.
3. For goods with public goods characteristics of non-rivalry and non-excludability, like national defense, there is no market mechanism to efficiently allocate resources, as they cannot be priced. This results in underprovision of public goods.
Cost function
This presentation introduces linear equations. It defines key terms like slope and y-intercept. Examples are provided to illustrate how to calculate the slope between two points and write the equation of a line given two points. Applications of linear equations in business are also discussed, including cost functions, break-even analysis and calculating mark-up. Homework problems are assigned from a Bowen textbook involving these concepts.
Consumer surplus and price changes
Here is a sample answer to this question "Evaluate the impact of changes in price on consumer surplus".
Unit 2 review_session
This document provides an overview of supply, demand, and consumer choice concepts including:
- Definitions of demand, the law of demand, and factors that cause shifts in demand. Graphs are used to illustrate demand schedules and curves.
- Definitions of supply, the law of supply, and factors that cause shifts in supply. Graphs are used to illustrate supply schedules and curves.
- How supply and demand interact in a market to determine equilibrium price and quantity. Examples are provided to show the effects of price changes on surpluses and shortages.
- Concepts of consumer surplus, producer surplus, and total surplus are introduced using graphs.
- Government policies that can impact markets are
Indifference Curves
An indifference curve shows combinations of goods that give a consumer the same level of satisfaction or utility. It is normally drawn as convex to the origin to reflect the assumption that as consumption of a good increases, the marginal utility from additional units decreases. Points on the same indifference curve represent combinations that are indifferent to the consumer, while higher indifference curves correspond to greater total utility or satisfaction.
Hicks revision of demand theory
Hicks revised demand theory by assuming consumers follow a preference hypothesis where they choose the alternative they prefer most from available options based on their preferences. Hicks presented demand theory using indifference curves to represent scales of preference, abandoning indifference curve analysis. He distinguished between strong ordering, where each item has its own ranking number, and weak ordering, where items are grouped but no internal group ordering exists. Hicks also introduced the direct consistency test and derived the law of demand using the methods of compensating variation and cost difference to decompose total effects into price, income, and substitution effects.
Chapter 1 What Is Economics
1. Economics is the study of how people make choices to satisfy their wants given scarce resources and unlimited needs. Scarcity means limited resources to meet unlimited wants.
2. There are three factors of production - land, labor, and capital. Land includes natural resources, labor includes human effort, and capital includes human-made resources used to produce goods and services.
3. Opportunity cost refers to the best alternative given up when making a choice. It is measured in terms of the highest valued alternative forgone or not chosen. A production possibilities graph shows the maximum possible output combinations of two items an economy can produce with limited resources.
6.1 consumption function
Consumption function shows the relationship between consumption and income. Keynes proposed the psychological law of consumption, which states that as income rises, consumption increases but by less than the rise in income. Consumption depends on both subjective psychological factors and objective external factors. The average propensity to consume is the ratio of consumption to income, while the marginal propensity to consume is the change in consumption from a change in income.
Types of Market Failure
Types of Market Failure content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Intro to Market Failure
Different Types of Market Failure
Production Possibility Frontier (Revision Presentation)
The document discusses the production possibility frontier (PPF), which shows the maximum output combinations of two goods an economy can produce with full employment of resources. It explains key concepts like opportunity cost, diminishing returns, and shifts in the PPF due to changes in resources or technology. Causes of outward shifts include higher productivity and new resources, while inward shifts may occur after natural disasters, conflict, or recession that reduce resources and investment.
Indifference Curves - Income and Substitution Effects for Inferior Goods
This document analyzes the effects of a fall in the market price of lentils, which are assumed to be an inferior good. It breaks down the overall effect into an income effect and a substitution effect. The income effect works in the opposite direction of the substitution effect - as real income rises due to lower lentil prices, less lentils are bought.
aggregate demand and aggregate supply for 2nd semester for BBA
The document discusses aggregate demand and aggregate supply. It defines aggregate demand as being underpinned by consumers, investors, government and foreigners. Aggregate supply reflects a positive relationship between price level and output in the short run due to price-cost dynamics. In the long run, aggregate supply is vertical as output is determined by fixed resources and technology. Macroeconomic equilibrium occurs where aggregate demand and supply intersect.
stackelberg Duopoly model
This document provides an overview of the Stackelberg duopoly model. It explains that the model involves two firms, one that acts as a leader by choosing its quantity first, and the other that acts as a follower by observing the leader's choice and then choosing its own quantity. The leader aims to maximize its profits by determining the follower's reaction curve and incorporating it into its decision-making. This allows the leader to produce a higher quantity and obtain greater profits than what would result under Cournot competition. If both firms try to act as leaders, it can lead to instability through a price war or collusion.
Demand,supply,Demand and supply,equilibrium between demand and supply
The document discusses concepts related to demand and supply, including:
1. Demand curves show the relationship between price and quantity demanded, while supply curves show the relationship between price and quantity supplied.
2. The intersection of the demand and supply curves determines the equilibrium price and quantity in a market.
3. Elasticity measures the responsiveness of demand or supply to various factors like price, income, and price of related goods. It helps to determine how demand and supply respond to changes in the market.
ch06 slide- supply demand and government policies- economics -mankiw.ppt
This document summarizes key concepts about how governments intervene in markets through policies like price controls, taxes, and how the impacts of these policies depend on supply and demand elasticities. Specifically:
1) Price controls like ceilings can cause shortages by creating a situation where demand exceeds supply. Price floors can cause surpluses by making supply exceed demand.
2) Taxes shift the supply curve up and demand curve left, changing market equilibrium. The burden of taxes depends on price elasticities - the less elastic side bears more of the burden.
3) Governments tend to tax necessities more due to their inelastic demand yielding more revenue, even though luxuries with elastic demand are more popular to tax
General Equilibrium IS-LM Framework for Macroeconomic Analysis
The document summarizes the IS-LM model of macroeconomics. It explains that the IS curve represents equilibrium in the goods market where investment equals savings at different interest rate and income level combinations. It slopes downward to show that lower interest rates lead to higher investment and income. The LM curve represents equilibrium in the money market where money demand equals supply at different interest rate and income level combinations. It slopes upward as higher income increases money demand, requiring higher interest rates to equilibrate the money market. The IS and LM curves intersect to determine the general equilibrium interest rate and income level in the short run.
Microeconomics: Income and Substitution Effects
Consumer Behavior: Income and Substitution Effects
The Consumer’s Reaction to a Change in Income
Engel Curve or Engel’s Law
The Consumer’s Reaction to a Change in Price
The Consumer’s Demand Function
Cobb-Douglas Utility Function
The Slutsky Substitution Effect
The Hicks substitution effect
Economics Presentation-PRICE EFFECT
The document is an economics presentation about price effect. It defines price effect as the change in demand in response to a change in price of a commodity, with other factors held constant. Price effect is the sum of the substitution effect and income effect. The substitution effect occurs when consumers substitute cheaper goods for more expensive goods to maximize satisfaction at a fixed income level. The income effect depends on whether a good is normal, inferior, or a Giffen good, and how changes in real income from price changes affect demand for that good.
The classical theory of income and employment
Classical economists believed that a free market would always achieve full employment through flexible wages and prices. According to Say's Law, increased production would create its own demand through higher incomes. However, Keynes criticized this view, arguing that reduced wages would lower aggregate demand by reducing incomes. The classical theory was valid for individual firms but failed to consider economy-wide effects of changes in income and demand.
Cournot's Duopoly model
This document summarizes the Cournot duopoly model of market competition between two firms. It explains that under Cournot's assumptions, the two firms will each capture 1/3 of the market share and settle at an equilibrium price point between the competitive and monopoly prices. The model involves the firms reacting to each other's output and price decisions in successive rounds until they split the market evenly. Some criticisms of the model are that it assumes costless production and does not allow for new firm entry or learning over time.
Basics of the Economics of Monopoly
This document discusses monopoly power in markets. It defines a pure monopolist as a single supplier that dominates an entire market with 100% concentration. In reality, a working monopoly is deemed to be any firm with over 25% market share, while a dominant firm has at least 40% share. Monopolies can lead to higher prices and lower output compared to competitive markets. However, monopoly power also allows firms to invest profits into research and development. There are economic arguments both for and against monopolies, and intervention may or may not be effective depending on the specific market.
Demand estimation and forecasting
Demand estimation and forecasting presentation made by Harshawardhan Ravichandran, Ajai Kurian Mathew, Prem Ranjan and me
Theory of consumer behavior cardinal approach
This document discusses consumer behavior theory and how consumers make choices under income constraints. It explains that consumers seek to maximize their utility, or satisfaction, from consuming goods and services. Utility is defined as the pleasure or satisfaction derived from consumption. Consumers are constrained by their incomes and must make choices within these limits. The concepts of total utility, marginal utility, diminishing marginal utility, and how consumers allocate their budgets to maximize utility are introduced. Cardinal and ordinal approaches to measuring utility are also outlined. The document provides examples and explanations of the law of diminishing marginal utility and the principle of equimarginal utility as consumers seek to optimize their satisfaction from consumption.
Principles of economics
This document provides an overview and table of contents for the textbook "Principles of Economics" by Dirk Mateer and Lee Coppock. It was published by W.W. Norton & Company, which has been independently owned by its employees since the 1950s. The textbook covers microeconomic and macroeconomic concepts across 33 chapters organized into 10 parts. It includes examples, graphs, and discussions of economic principles and how they apply to real-world situations and current events. The authors provide brief biographies dedicating the book to their fathers for encouraging them in teaching economics.
Principles of macroeconomics-day_1_f11
This document provides an overview of a macroeconomics course. It outlines that the course will cover chapters 23 through 35 of the textbook over the term. This week's lectures will focus on chapters 23 and 24. Students will complete homework assignments for each class and have their first exam covering chapters 23 through 24. The grading breakdown is provided, with the final exam counting for 60% of the final grade. Key macroeconomic indicators like real GDP, CPI, and unemployment rate are introduced.
More Related Content
What's hot
Unit 2 review_session
This document provides an overview of supply, demand, and consumer choice concepts including:
- Definitions of demand, the law of demand, and factors that cause shifts in demand. Graphs are used to illustrate demand schedules and curves.
- Definitions of supply, the law of supply, and factors that cause shifts in supply. Graphs are used to illustrate supply schedules and curves.
- How supply and demand interact in a market to determine equilibrium price and quantity. Examples are provided to show the effects of price changes on surpluses and shortages.
- Concepts of consumer surplus, producer surplus, and total surplus are introduced using graphs.
- Government policies that can impact markets are
Indifference Curves
An indifference curve shows combinations of goods that give a consumer the same level of satisfaction or utility. It is normally drawn as convex to the origin to reflect the assumption that as consumption of a good increases, the marginal utility from additional units decreases. Points on the same indifference curve represent combinations that are indifferent to the consumer, while higher indifference curves correspond to greater total utility or satisfaction.
Hicks revision of demand theory
Hicks revised demand theory by assuming consumers follow a preference hypothesis where they choose the alternative they prefer most from available options based on their preferences. Hicks presented demand theory using indifference curves to represent scales of preference, abandoning indifference curve analysis. He distinguished between strong ordering, where each item has its own ranking number, and weak ordering, where items are grouped but no internal group ordering exists. Hicks also introduced the direct consistency test and derived the law of demand using the methods of compensating variation and cost difference to decompose total effects into price, income, and substitution effects.
Chapter 1 What Is Economics
1. Economics is the study of how people make choices to satisfy their wants given scarce resources and unlimited needs. Scarcity means limited resources to meet unlimited wants.
2. There are three factors of production - land, labor, and capital. Land includes natural resources, labor includes human effort, and capital includes human-made resources used to produce goods and services.
3. Opportunity cost refers to the best alternative given up when making a choice. It is measured in terms of the highest valued alternative forgone or not chosen. A production possibilities graph shows the maximum possible output combinations of two items an economy can produce with limited resources.
6.1 consumption function
Consumption function shows the relationship between consumption and income. Keynes proposed the psychological law of consumption, which states that as income rises, consumption increases but by less than the rise in income. Consumption depends on both subjective psychological factors and objective external factors. The average propensity to consume is the ratio of consumption to income, while the marginal propensity to consume is the change in consumption from a change in income.
Types of Market Failure
Types of Market Failure content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Intro to Market Failure
Different Types of Market Failure
Production Possibility Frontier (Revision Presentation)
The document discusses the production possibility frontier (PPF), which shows the maximum output combinations of two goods an economy can produce with full employment of resources. It explains key concepts like opportunity cost, diminishing returns, and shifts in the PPF due to changes in resources or technology. Causes of outward shifts include higher productivity and new resources, while inward shifts may occur after natural disasters, conflict, or recession that reduce resources and investment.
Indifference Curves - Income and Substitution Effects for Inferior Goods
This document analyzes the effects of a fall in the market price of lentils, which are assumed to be an inferior good. It breaks down the overall effect into an income effect and a substitution effect. The income effect works in the opposite direction of the substitution effect - as real income rises due to lower lentil prices, less lentils are bought.
aggregate demand and aggregate supply for 2nd semester for BBA
The document discusses aggregate demand and aggregate supply. It defines aggregate demand as being underpinned by consumers, investors, government and foreigners. Aggregate supply reflects a positive relationship between price level and output in the short run due to price-cost dynamics. In the long run, aggregate supply is vertical as output is determined by fixed resources and technology. Macroeconomic equilibrium occurs where aggregate demand and supply intersect.
stackelberg Duopoly model
This document provides an overview of the Stackelberg duopoly model. It explains that the model involves two firms, one that acts as a leader by choosing its quantity first, and the other that acts as a follower by observing the leader's choice and then choosing its own quantity. The leader aims to maximize its profits by determining the follower's reaction curve and incorporating it into its decision-making. This allows the leader to produce a higher quantity and obtain greater profits than what would result under Cournot competition. If both firms try to act as leaders, it can lead to instability through a price war or collusion.
Demand,supply,Demand and supply,equilibrium between demand and supply
The document discusses concepts related to demand and supply, including:
1. Demand curves show the relationship between price and quantity demanded, while supply curves show the relationship between price and quantity supplied.
2. The intersection of the demand and supply curves determines the equilibrium price and quantity in a market.
3. Elasticity measures the responsiveness of demand or supply to various factors like price, income, and price of related goods. It helps to determine how demand and supply respond to changes in the market.
ch06 slide- supply demand and government policies- economics -mankiw.ppt
This document summarizes key concepts about how governments intervene in markets through policies like price controls, taxes, and how the impacts of these policies depend on supply and demand elasticities. Specifically:
1) Price controls like ceilings can cause shortages by creating a situation where demand exceeds supply. Price floors can cause surpluses by making supply exceed demand.
2) Taxes shift the supply curve up and demand curve left, changing market equilibrium. The burden of taxes depends on price elasticities - the less elastic side bears more of the burden.
3) Governments tend to tax necessities more due to their inelastic demand yielding more revenue, even though luxuries with elastic demand are more popular to tax
General Equilibrium IS-LM Framework for Macroeconomic Analysis
The document summarizes the IS-LM model of macroeconomics. It explains that the IS curve represents equilibrium in the goods market where investment equals savings at different interest rate and income level combinations. It slopes downward to show that lower interest rates lead to higher investment and income. The LM curve represents equilibrium in the money market where money demand equals supply at different interest rate and income level combinations. It slopes upward as higher income increases money demand, requiring higher interest rates to equilibrate the money market. The IS and LM curves intersect to determine the general equilibrium interest rate and income level in the short run.
Microeconomics: Income and Substitution Effects
Consumer Behavior: Income and Substitution Effects
The Consumer’s Reaction to a Change in Income
Engel Curve or Engel’s Law
The Consumer’s Reaction to a Change in Price
The Consumer’s Demand Function
Cobb-Douglas Utility Function
The Slutsky Substitution Effect
The Hicks substitution effect
Economics Presentation-PRICE EFFECT
The document is an economics presentation about price effect. It defines price effect as the change in demand in response to a change in price of a commodity, with other factors held constant. Price effect is the sum of the substitution effect and income effect. The substitution effect occurs when consumers substitute cheaper goods for more expensive goods to maximize satisfaction at a fixed income level. The income effect depends on whether a good is normal, inferior, or a Giffen good, and how changes in real income from price changes affect demand for that good.
The classical theory of income and employment
Classical economists believed that a free market would always achieve full employment through flexible wages and prices. According to Say's Law, increased production would create its own demand through higher incomes. However, Keynes criticized this view, arguing that reduced wages would lower aggregate demand by reducing incomes. The classical theory was valid for individual firms but failed to consider economy-wide effects of changes in income and demand.
Cournot's Duopoly model
This document summarizes the Cournot duopoly model of market competition between two firms. It explains that under Cournot's assumptions, the two firms will each capture 1/3 of the market share and settle at an equilibrium price point between the competitive and monopoly prices. The model involves the firms reacting to each other's output and price decisions in successive rounds until they split the market evenly. Some criticisms of the model are that it assumes costless production and does not allow for new firm entry or learning over time.
Basics of the Economics of Monopoly
This document discusses monopoly power in markets. It defines a pure monopolist as a single supplier that dominates an entire market with 100% concentration. In reality, a working monopoly is deemed to be any firm with over 25% market share, while a dominant firm has at least 40% share. Monopolies can lead to higher prices and lower output compared to competitive markets. However, monopoly power also allows firms to invest profits into research and development. There are economic arguments both for and against monopolies, and intervention may or may not be effective depending on the specific market.
Demand estimation and forecasting
Demand estimation and forecasting presentation made by Harshawardhan Ravichandran, Ajai Kurian Mathew, Prem Ranjan and me
Theory of consumer behavior cardinal approach
This document discusses consumer behavior theory and how consumers make choices under income constraints. It explains that consumers seek to maximize their utility, or satisfaction, from consuming goods and services. Utility is defined as the pleasure or satisfaction derived from consumption. Consumers are constrained by their incomes and must make choices within these limits. The concepts of total utility, marginal utility, diminishing marginal utility, and how consumers allocate their budgets to maximize utility are introduced. Cardinal and ordinal approaches to measuring utility are also outlined. The document provides examples and explanations of the law of diminishing marginal utility and the principle of equimarginal utility as consumers seek to optimize their satisfaction from consumption.
What's hot (20)
Production Possibility Frontier (Revision Presentation)
Production Possibility Frontier (Revision Presentation)
Indifference Curves - Income and Substitution Effects for Inferior Goods
Indifference Curves - Income and Substitution Effects for Inferior Goods
aggregate demand and aggregate supply for 2nd semester for BBA
aggregate demand and aggregate supply for 2nd semester for BBA
Demand,supply,Demand and supply,equilibrium between demand and supply
Demand,supply,Demand and supply,equilibrium between demand and supply
ch06 slide- supply demand and government policies- economics -mankiw.ppt
ch06 slide- supply demand and government policies- economics -mankiw.ppt
General Equilibrium IS-LM Framework for Macroeconomic Analysis
General Equilibrium IS-LM Framework for Macroeconomic Analysis
Viewers also liked
Principles of economics
This document provides an overview and table of contents for the textbook "Principles of Economics" by Dirk Mateer and Lee Coppock. It was published by W.W. Norton & Company, which has been independently owned by its employees since the 1950s. The textbook covers microeconomic and macroeconomic concepts across 33 chapters organized into 10 parts. It includes examples, graphs, and discussions of economic principles and how they apply to real-world situations and current events. The authors provide brief biographies dedicating the book to their fathers for encouraging them in teaching economics.
Principles of macroeconomics-day_1_f11
This document provides an overview of a macroeconomics course. It outlines that the course will cover chapters 23 through 35 of the textbook over the term. This week's lectures will focus on chapters 23 and 24. Students will complete homework assignments for each class and have their first exam covering chapters 23 through 24. The grading breakdown is provided, with the final exam counting for 60% of the final grade. Key macroeconomic indicators like real GDP, CPI, and unemployment rate are introduced.
Concept of macroeconomics
Macroeconomics is the study of the behavior and performance of the economy as a whole. It deals with aggregate economic quantities such as output, income, employment, and prices. Macroeconomics analyzes economy-wide phenomena like growth, recessions, inflation, and the impact of fiscal and monetary policy. The goal of macroeconomics is to promote full employment, stability, and economic growth on a national scale.
Introducing macroeconomics
This document provides an overview of macroeconomics and the debate between free-market and Keynesian schools of thought. It discusses how Adam Smith developed ideas of free markets but John Maynard Keynes advocated government intervention to boost demand in response to the Great Depression. In the 1970s, Milton Friedman led a counter-revolution arguing excessive money supply and unions caused stagflation. Margaret Thatcher embraced free-market policies, but the 2007 crisis saw a return of Keynesian responses as the UK faced its worst recession since the 1930s.
Macro economics ppt
Macroeconomics analyzes aggregate economic variables such as total output, investment, exports and the average price level rather than individual markets. It considers how these aggregates result from the activities and decisions of consumers, government and firms. The document defines key macroeconomic concepts including gross domestic product, inflation, unemployment, economic models, and the business cycle. It explains that unemployment and inflation tend to vary over the course of the business cycle, with unemployment a greater problem during contractions and inflation a greater problem during expansions.
Chapter 1 - basic concepts about macroeconomics for BBA
This chapter introduces macroeconomics and important macroeconomic concepts. It discusses what macroeconomists study, including issues like inflation, unemployment, recessions, government budgets, trade balances, and economic growth. It introduces tools and concepts used in macroeconomic analysis, including aggregate supply and demand, GDP, unemployment, inflation, and exchange rates. It explains why macroeconomics is important by outlining how the macroeconomy impacts society's well-being. Finally, it provides an overview of basic macroeconomic models and concepts like stocks and flows, production possibility frontiers, and the differences between endogenous and exogenous variables.
Macroeconomic
Aggregate demand is the total demand for final goods and services in an economy at a given time and price level. It is the sum of consumption, investment, government spending, and net exports. The aggregate demand curve slopes downward, showing that as price levels increase, aggregate output decreases. Aggregate supply is the total supply of goods and services in an economy. In the short run, the aggregate supply curve slopes upward as firms are slow to adjust prices and wages. In the long run, as costs fully adjust, the aggregate supply curve becomes vertical at the natural level of output. Keynesian economics emphasizes that economies may fail to reach full employment without government intervention, due to sticky wages and prices and a tendency for increased savings to reduce
Introduction To Macro Economics
This document provides an introduction to macroeconomics. It discusses key macroeconomic concepts such as stocks and flows, equilibrium and disequilibrium, and the circular flow of income in closed and open economies. It also outlines macroeconomic goals like full employment and price stability. The development of macroeconomics from classical to Keynesian and monetarist theories is summarized. Finally, it discusses important macroeconomic indicators and policy tools like fiscal and monetary policy.
Macroeconomics slide
This document provides an introduction to a macroeconomics module taught at the Foreign Trade University in Vietnam. It outlines the module context, aims, objectives, learning outcomes, teaching methods, and assessment. The module is designed to provide undergraduate students with an understanding of important macroeconomic factors and variables. It will analyze how macroeconomic variables interact in the economy and how economic theories can be used to understand real-world events. Students will learn about macroeconomic policies and different cases of using policies to develop economies. The module will be taught through lectures, discussions, and student assignments and presentations. Students will be assessed based on a written assignment, final exam, and class participation.
Chapter 1 Microeconomics Intro
The document provides an overview of key economic concepts including:
1) Economics is the study of how scarce resources are allocated to satisfy unlimited wants.
2) Microeconomics examines decision-making of individuals and firms while macroeconomics looks at the whole economy.
3) Ceteris paribus means all other things remain equal while one variable is changed.
4) Scarcity, choice, opportunity cost, and the factors of production (land, labor, capital and entrepreneurship) are basic economic concepts.
5) Graphs, marginal analysis, production possibilities curves, technology, and the three basic economic problems (what, how, and for whom to produce) are also introduced.
Introduction to macroeconomics
Macroeconomics deals with the economy as a whole, examining aggregates like total income, output, employment and prices. It emerged as a separate field of study due to Keynes' analysis of the Great Depression when existing theories failed to explain high unemployment. The circular flow model illustrates how income and spending circulate between producers and consumers in an economy.
Basic concept of macro economics
Macroeconomics deals with the aggregate or total level of key economic variables for an entire economy, such as output, consumption, investment, employment, and prices. It examines unemployment, inflation, and output growth. The document provides definitions and explanations of these macroeconomic concepts as well as the scope and importance of macroeconomics in understanding national economies and formulating policy.
Topic 1 introduction to macroeconomics
This document provides an introduction to macroeconomics, outlining some of its key concepts and components. It discusses how macroeconomics examines the economy as a whole by focusing on aggregates like total output and the overall price level, rather than individual markets. It identifies three main macroeconomic concerns: output growth, unemployment, and inflation/deflation. It also outlines the four main groups that make up the macroeconomy - households, firms, government, and the rest of the world - and illustrates their interactions through a circular flow diagram.
Macroeconomics wk2 3
1. The document defines key concepts in macroeconomics related to supply and demand, including the barter market, demand curves, laws of demand and supply, equilibrium, elasticity, and more.
2. It explains factors that shift demand and supply curves like price, income, tastes, technology, and expectations. Changes in these determinants can cause curves to shift left or right.
3. Market equilibrium exists where the supply and demand curves intersect, establishing an equilibrium price and quantity where the amounts suppliers are willing to offer equals the amounts buyers want.
nationaleconomy
This document discusses macroeconomic issues facing a national economy, including economic growth, employment, inflation, and the balance of payments. It defines key terms and explains the relationship between these macroeconomic objectives and aggregate demand. Aggregate demand is made up of consumption, investment, government spending, and net exports. The circular flow of income shows how injections must equal withdrawals in equilibrium. Disequilibrium can occur if injections are greater or less than withdrawals, affecting the macroeconomic objectives, but automatic stabilizers work to bring the economy back into balance.
Week 6
This week's materials cover macroeconomics chapters on aggregate demand and supply and economic growth, as well as a microeconomics chapter on production and costs. Students are reminded of upcoming due dates for journal posting 6, discussion posting 6, and draft paper 2. Next week will include journal posting 7 and discussion posting 7, with students again required to comment on a classmate's posting to receive credit.
Macroeconomics
NPOs have a significant impact on both the micro and macro economy. They provide many essential services to the public in areas like healthcare, education, housing, and environmental protection. These services generate positive externalities and help the public's well-being. NPOs also stimulate local economies by purchasing goods and services from the domestic market. Their programs aimed at reducing costs of living, increasing employment, and expanding access to loans and credit help strengthen the domestic market and increase GDP.
The roots of modern macroeconomics
The document discusses three key issues in macroeconomics: (1) price and wage flexibility, (2) flexibility of aggregate supply, and (3) the role of expectations. It then provides an overview of classical macroeconomics, Keynesian economics, the monetarist-Keynesian debate, and the current range of macroeconomic views.
Macroeconomics Mexico
Macroeconomics study of Mexico .
benficial for MBA and PGDM students.
Good casestudy with Free trade aggreements details
Ungs2030 : THE ISLAMIC WORLDVIEW
The document defines and discusses the concept of worldview from an Islamic perspective. It provides definitions of worldview, discusses its key elements and objectives from an Islamic viewpoint. It also compares Islamic and Western conceptions of worldview, and classifies different types of worldviews such as religious, mythological, and philosophical worldviews. The document aims to outline the comprehensive nature of an Islamic worldview and how it differs from other perspectives.
Viewers also liked (20)
Chapter 1 - basic concepts about macroeconomics for BBA
Chapter 1 - basic concepts about macroeconomics for BBA
Similar to Principles of macroeconomics
Introduction to agricultural economics
This document provides an introduction to agricultural economics. It defines economics as dealing with the allocation of scarce resources to meet unlimited wants. The key concepts discussed include utility, scarcity, price, opportunity cost, and marginal analysis. Agricultural economics specifically studies issues related to food and fiber production, while agribusiness encompasses all businesses involved in agriculture. The document also discusses graphs used to show economic relationships and the assumptions made in graphing models.
Note classical
This lecture note introduces classical macroeconomic theory, which examines the linkages between interest rates, money, output, and inflation. It will first cover classical monetary theory, which assumes money is neutral and its supply only determines prices. It then presents a basic classical model of the real economy with aggregate supply and demand. Equilibrium output and interest rates are determined by the intersection of these curves. Money enters by facilitating transactions but does not affect real variables. Money demand depends on nominal income and interest rates, determining equilibrium money holdings and the price level.
20091227 mankiw economics chapter2
This document discusses how economists think and work. It explains that economists use the scientific method to develop theories and models to understand the economy. Economists create simplified models like the circular flow diagram and production possibilities frontier to illustrate key economic concepts. The document also discusses how economists take on two roles: as scientists seeking to explain how the economy works, and as policy advisors making recommendations to improve the economy. However, economists do not always agree due to differences in their scientific analysis or underlying values.
Business economics2
Economic equilibrium occurs when supply equals demand in a market, resulting in a stable market price. Buyers and sellers interact, with prices increasing as demand outstrips supply until a new equilibrium price is reached where supply meets demand. Equilibrium is difficult to achieve perfectly in real markets but the interaction of supply and demand still occurs. Consumer equilibrium exists when a consumer obtains maximum satisfaction given their income level and prices. The condition of consumer equilibrium is that the marginal utility per unit of expenditure on a good equals the marginal utility of income.
Ekonometrika
This document discusses the key concepts and applications of econometrics. It provides an overview of econometrics methodology, including statement of theory, specification of mathematical and statistical models, obtaining data, estimation of parameters, hypothesis testing, forecasting and using models for policy purposes. It also discusses regression analysis and the classical normal linear regression model, addressing topics like interval estimation, hypothesis testing, and issues like multicollinearity.
Advanced Econometrics L1-2.pptx
This document provides an overview of using Stata for data management and reproducible research. It describes the Stata environment including the toolbar, command panel, review panel, results panel and variables panel. It demonstrates loading sample data using sysuse and viewing metadata about the data using describe and summary statistics using summarize. Reproducible research is facilitated by writing commands in a do-file that can be executed from the do-file editor.
Introduction to Agricultural Economics
The document provides an introduction to agricultural economics and rural development. It discusses three main topics: 1) farming as part of the rural system and how agriculture influences and is influenced by its surroundings, 2) the role of agricultural policy, and 3) the role of agriculture in economic development. It also defines key concepts in economics like systems, marginal analysis, and opportunity cost. Graphs are presented as a way to understand economic relationships between variables like price and quantity.
Statistical Arbitrage Pairs Trading, Long-Short Strategy
Statistical Arbitrage
Pairs Trading, Long-Short Strategy
Cyrille BEN LEMRID

1 Pairs Trading Model 5
1.1 Generaldiscussion ................................ 5 1.2 Cointegration ................................... 6 1.3 Spreaddynamics ................................. 7
2 State of the art and model overview 9
2.1 StochasticDependenciesinFinancialTimeSeries . . . . . . . . . . . . . . . 9 2.2 Cointegration-basedtradingstrategies ..................... 10 2.3 FormulationasaStochasticControlProblem. . . . . . . . . . . . . . . . . . 13 2.4 Fundamentalanalysis............................... 16
3 Strategies Analysis 19
3.1 Roadmapforstrategydesign .......................... 19 3.2 Identificationofpotentialpairs ......................... 19 3.3 Testingcointegration ............................... 20 3.4 Riskcontrolandfeasibility............................ 20
4 Results
22
2
Contents

Introduction
This report presents my research work carried out at Credit Suisse from May to September 2012. This study has been pursued in collaboration with the Global Arbitrage Strategies team.
Quantitative analysis strategy developers use sophisticated statistical and optimization techniques to discover and construct new algorithms. These algorithms take advantage of the short term deviation from the ”fair” securities’ prices. Pairs trading is one such quantitative strategy - it is a process of identifying securities that generally move together but are currently ”drifting away”.
Pairs trading is a common strategy among many hedge funds and banks. However, there is not a significant amount of academic literature devoted to it due to its proprietary nature. For a review of some of the existing academic models, see [6], [8], [11] .
Our focus for this analysis is the study of two quantitative approaches to the problem of pairs trading, the first one uses the properties of co-integrated financial time series as a basis for trading strategy, in the second one we model the log-relationship between a pair of stock prices as an Ornstein-Uhlenbeck process and use this to formulate a portfolio optimization based stochastic control problem.
This study was performed to show that under certain assumptions the two approaches are equivalent.
Practitioners most often use a fundamentally driven approach, analyzing the performance of stocks around a market event and implement strategies using back-tested trading levels.
We also study an example of a fundamentally driven strategy, using market reaction to a stock being dropped or added to the MSCI World Standard, as a signal for a pair trading strategy on those stocks once their inclusion/exclusion has been made effective.
This report is organized as follows. Section 1 provides some background on pairs trading strategy. The theoretical results are described in Section 2. Section 3
Definition Nature Scope and Significance of Economics, Business Economics - D...
Definition Nature Scope and Significance of Economics, Wealth Definition, Welfare Definition, Criticism, Scope of Economics, Economics a science or an art Science teaches us to know and an art teaches us to do. Science and art are complementary to each other, A Positive or a Normative Science , Business Economics,Methodology of Economics, Nature of Business Economics, Scope of Business Economics, Divyansh Agrawal, Divyansh Agrawal Shivpuri, PIMR, Prestige Institute of Management, Indore
Download
This document discusses problem solving with multiple interdependent criteria. It begins by describing how objectives in multi-objective programming problems are typically assumed to be independent, but can actually be interdependent through supportive or inhibitory feedbacks from other objectives. It then provides an example of a negotiation problem between a buyer and seller that involves a third party (government) with multiple objectives that influence and are influenced by the negotiation process, demonstrating interdependent objectives. The document goes on to describe a framework for modeling additive linear interdependencies between objective functions in multi-objective programming problems.
Download
This document discusses problem solving with multiple interdependent criteria. It begins by describing how objectives in multi-objective programming problems are typically assumed to be independent, but can actually be interdependent through supportive or inhibitory feedbacks from other objectives. It then provides an example of a negotiation problem between a buyer and seller that involves a third-party government whose objectives are influenced by the buyer and seller's reservation prices and settlement, making the objectives interdependent. The document goes on to describe how objectives can be modeled as having additive linear interdependencies, and how this changes the formulation of the multi-objective programming problem from one of independent objectives to one of interdependent objectives.
Basic Economics.pdf
This document defines and compares key concepts in microeconomics and macroeconomics. It also defines positive and normative economics. Microeconomics focuses on individual economic units and factors like supply, demand and pricing. Macroeconomics analyzes aggregate variables and issues affecting the whole economy like GDP, unemployment and monetary policy. Positive economics objectively analyzes relationships between variables, while normative economics makes value judgments about how the economy should operate. The document then defines concepts related to production theory, costs, market structures, labor economics and welfare economics.
Basic Economics.pdf
This document provides definitions and explanations of key economic concepts. It begins by defining microeconomics and macroeconomics. Microeconomics examines individual economic decisions and interactions, while macroeconomics looks at aggregate economic performance and structure at a national or international level. The document then discusses various market structures like perfect competition, monopoly, oligopoly, and their characteristics. It also covers concepts like demand, supply, equilibrium, elasticity, costs of production, and opportunity cost. The final sections define additional economic terms and concepts related to welfare economics, labor economics, and measures like unemployment rate.
Macro and micro econ
This document defines key concepts in microeconomics and macroeconomics. It explains that microeconomics examines the economic behavior of individual units like households and firms, while macroeconomics looks at aggregates for a whole economy. It also outlines the differences between positive economics, which describes economic systems objectively, and normative economics, which makes judgments about economic outcomes. Additional concepts covered include ceteris paribus, economic models, graphs, and the four criteria used to evaluate economic policy: efficiency, equity, growth, and stability.
Economics and accounting a comparison between philosophical
This document compares the philosophical backgrounds of economics and accounting in view of complexity theory. It discusses how economics and accounting have related in the past, with accounting traditionally looking to economics for frameworks but not receiving interest in return. It analyzes issues with the theoretical foundations of mainstream neoclassical economics, such as the assumptions of perfect rationality and decreasing returns to scale that do not reflect reality. It argues economics needs to reform its theoretical structure in order to have a more collaborative relationship with accounting and other disciplines by adopting an approach based on bounded rationality and complexity theory.
Ec102 - April 13
The document provides an overview of key concepts in economics including the ten principles of economics, methodology of economics, circular flow diagram, and production possibilities frontier. It defines economics as the social science concerned with allocation of scarce resources among alternative uses. Some of the ten principles outlined include that people face trade-offs, rational people think at the margin, and markets are a good way to organize an economy. Positive economics is described as descriptive and focuses on understanding economic systems, while normative economics makes judgments about outcomes. The circular flow diagram shows the flows of money and resources between households and firms through factor and product markets.
Advanced Econometrics L3-4.pptx
This document outlines the schedule and topics for an advanced econometrics and Stata training course taking place in Beijing from November 17-26, 2019. The course will cover topics including introduction to econometrics and Stata, single and multiple regression, hypothesis testing, time series models, panel data models, and frontier analysis. Sessions are planned each morning and evening, with exercises and practice sessions interspersed.
Chap1pp
This document provides an overview and learning objectives for a textbook on economics. It introduces key economic concepts like scarcity, markets, opportunity cost, and microeconomics vs macroeconomics. It explains the role of models and assumptions in economic analysis. Graphs and formulas are presented in an appendix as tools for understanding economic relationships.
Similar to Principles of macroeconomics (20)
Statistical Arbitrage Pairs Trading, Long-Short Strategy
Statistical Arbitrage Pairs Trading, Long-Short Strategy
Definition Nature Scope and Significance of Economics, Business Economics - D...
Definition Nature Scope and Significance of Economics, Business Economics - D...
Economics and accounting a comparison between philosophical
Economics and accounting a comparison between philosophical
Recently uploaded
Easily Verify Compliance and Security with Binance KYC
Use our simple KYC verification guide to make sure your Binance account is safe and compliant. Discover the fundamentals, appreciate the significance of KYC, and trade on one of the biggest cryptocurrency exchanges with confidence.
Creative Web Design Company in Singapore
At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
Mastering B2B Payments Webinar from BlueSnap
B2B payments are rapidly changing. Find out the 5 key questions you need to be asking yourself to be sure you are mastering B2B payments today. Learn more at www.BlueSnap.com.
Structural Design Process: Step-by-Step Guide for Buildings
The structural design process is explained: Follow our step-by-step guide to understand building design intricacies and ensure structural integrity. Learn how to build wonderful buildings with the help of our detailed information. Learn how to create structures with durability and reliability and also gain insights on ways of managing structures.
Authentically Social by Corey Perlman - EO Puerto Rico
Authentically Social by Corey Perlman - EO Puerto RicoCorey Perlman, Social Media Speaker and Consultant
Social media for business The Heart of Leadership_ How Emotional Intelligence Drives Business Success B...
Leaders who possess self-awareness deeply understand their emotions, strengths, and weaknesses.
Understanding User Needs and Satisfying Them
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
HOW TO START UP A COMPANY A STEP-BY-STEP GUIDE.pdf
How to Start Up a Company: A Step-by-Step Guide Starting a company is an exciting adventure that combines creativity, strategy, and hard work. It can seem overwhelming at first, but with the right guidance, anyone can transform a great idea into a successful business. Let's dive into how to start up a company, from the initial spark of an idea to securing funding and launching your startup.
Introduction
Have you ever dreamed of turning your innovative idea into a thriving business? Starting a company involves numerous steps and decisions, but don't worry—we're here to help. Whether you're exploring how to start a startup company or wondering how to start up a small business, this guide will walk you through the process, step by step.
Top mailing list providers in the USA.pptx
Discover the top mailing list providers in the USA, offering targeted lists, segmentation, and analytics to optimize your marketing campaigns and drive engagement.
-- June 2024 is National Volunteer Month --
Check out our June display of books on voluntary organisations
Event Report - SAP Sapphire 2024 Orlando - lots of innovation and old challenges
Holger Mueller of Constellation Research shares his key takeaways from SAP's Sapphire confernece, held in Orlando, June 3rd till 5th 2024, in the Orange Convention Center.
Taurus Zodiac Sign: Unveiling the Traits, Dates, and Horoscope Insights of th...
Dive into the steadfast world of the Taurus Zodiac Sign. Discover the grounded, stable, and logical nature of Taurus individuals, and explore their key personality traits, important dates, and horoscope insights. Learn how the determination and patience of the Taurus sign make them the rock-steady achievers and anchors of the zodiac.
一比一原版新西兰奥塔哥大学毕业证（otago毕业证）如何办理
一模一样【微信：A575476】【新西兰奥塔哥大学毕业证（otago毕业证）成绩单Offer】【微信：A575476】（留信学历认证永久存档查询）采用学校原版纸张、特殊工艺完全按照原版一比一制作（包括：隐形水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠，文字图案浮雕，激光镭射，紫外荧光，温感，复印防伪）行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备，十五年致力于帮助留学生解决难题，业务范围有加拿大、英国、澳洲、韩国、美国、新加坡，新西兰等学历材料，包您满意。
【业务选择办理准则】
一、工作未确定，回国需先给父母、亲戚朋友看下文凭的情况，办理一份就读学校的毕业证【微信：A575476】文凭即可
二、回国进私企、外企、自己做生意的情况，这些单位是不查询毕业证真伪的，而且国内没有渠道去查询国外文凭的真假，也不需要提供真实教育部认证。鉴于此，办理一份毕业证【微信：A575476】即可
三、进国企，银行，事业单位，考公务员等等，这些单位是必需要提供真实教育部认证的，办理教育部认证所需资料众多且烦琐，所有材料您都必须提供原件，我们凭借丰富的经验，快捷的绿色通道帮您快速整合材料，让您少走弯路。
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
→ 【关于价格问题（保证一手价格）
我们所定的价格是非常合理的，而且我们现在做得单子大多数都是代理和回头客户介绍的所以一般现在有新的单子 我给客户的都是第一手的代理价格，因为我想坦诚对待大家 不想跟大家在价格方面浪费时间
对于老客户或者被老客户介绍过来的朋友，我们都会适当给一些优惠。
选择实体注册公司办理，更放心，更安全！我们的承诺：可来公司面谈，可签订合同，会陪同客户一起到教育部认证窗口递交认证材料，客户在教育部官方认证查询网站查询到认证通过结果后付款，不成功不收费！
Digital Marketing with a Focus on Sustainability
Digital Marketing best practices including influencer marketing, content creators, and omnichannel marketing for Sustainable Brands at the Sustainable Cosmetics Summit 2024 in New York
Innovation Management Frameworks: Your Guide to Creativity & Innovation
Innovation Management Frameworks: Your Guide to Creativity & InnovationOperational Excellence Consulting
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
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
17. Stage-Gate Model
18. Toyota’s Six Steps of Kaizen
19. Microsoft’s Digital Transformation Framework
20. Design for Six Sigma (DFSS)
To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentationsThe Genesis of BriansClub.cm Famous Dark WEb Platform
BriansClub.cm, a famous platform on the dark web, has become one of the most infamous carding marketplaces, specializing in the sale of stolen credit card data.
How are Lilac French Bulldogs Beauty Charming the World and Capturing Hearts....
“After being the most listed dog breed in the United States for 31
years in a row, the Labrador Retriever has dropped to second place
in the American Kennel Club's annual survey of the country's most
popular canines. The French Bulldog is the new top dog in the
United States as of 2022. The stylish puppy has ascended the
rankings in rapid time despite having health concerns and limited
color choices.”
Recently uploaded (20)
Easily Verify Compliance and Security with Binance KYC
Easily Verify Compliance and Security with Binance KYC
Structural Design Process: Step-by-Step Guide for Buildings
Structural Design Process: Step-by-Step Guide for Buildings
Authentically Social by Corey Perlman - EO Puerto Rico
Authentically Social by Corey Perlman - EO Puerto Rico
The Heart of Leadership_ How Emotional Intelligence Drives Business Success B...
The Heart of Leadership_ How Emotional Intelligence Drives Business Success B...
HOW TO START UP A COMPANY A STEP-BY-STEP GUIDE.pdf
HOW TO START UP A COMPANY A STEP-BY-STEP GUIDE.pdf
Event Report - SAP Sapphire 2024 Orlando - lots of innovation and old challenges
Event Report - SAP Sapphire 2024 Orlando - lots of innovation and old challenges
Taurus Zodiac Sign: Unveiling the Traits, Dates, and Horoscope Insights of th...
Taurus Zodiac Sign: Unveiling the Traits, Dates, and Horoscope Insights of th...
Innovation Management Frameworks: Your Guide to Creativity & Innovation
Innovation Management Frameworks: Your Guide to Creativity & Innovation
The Genesis of BriansClub.cm Famous Dark WEb Platform
The Genesis of BriansClub.cm Famous Dark WEb Platform
How are Lilac French Bulldogs Beauty Charming the World and Capturing Hearts....
How are Lilac French Bulldogs Beauty Charming the World and Capturing Hearts....
Principles of macroeconomics
- 1. Lecture 2 Macroeconomics abdul-Ghaffar Institute of Management Sciences, HayatAbad 1
- 2. Lecture 2 Theory: Theory is a framework that helps you understand relationships between cause and effect Theory is a simplification of an actual relationship A theory explains the causes of a phenomenon. 2
- 3. Lecture 2 Economic Variables: Quantities that can have more than one values e.g; Price, interest rate, income etc Economic models: Simplified way of expressing how some sectors of the economy functions - Economic models are abstracts (caprture important and not ALL details relevant to the phenomenon) - Economic models rely on assumptions - It is in the form of logic, graphs or mathematics 3
- 4. Lecture 2 - A good economic model is like a schematic diagram. It accurately sets the relationship or cause and effect among variables - An economic model is a tool that helps you understand the consequences of a theory - A good model not only explains phenomena better but, also, has the ability to predict changes in the economic variables 4
- 5. Lecture 2 Rational Behaviour: Ways of acting for which the extra benefit exceeds (greater than) the associated extra cost When your actions are such that the extra benefits are exceeding (more than) additional expenditures it means you are showing a rational behaviour 5
- 6. Lecture 2 Marginal Benefit: The monetary value (rupees or dollars or any other currency you are dealing in) placed on the satisfaction obtained from another unit of an item Marginal Cost: The sacrifice made to obtain an additional unit of an item A Rational Person continues purchasing (marginal cost) an item to the point at which there is no additional net gain (marginal benefit) 6
- 7. Lecture 2 Graphs Origin: On a set of axes, the point designated by zero (0) at which variables X and Y both take on zero values Coordinates: A pair pf numbers that sorresponds to values for X and Y when plotted on a set of axes e.g; (X,Y) 7
- 8. Lecture 2 Curve: A straight or curved line drawn to connect points plotted on a set of axes Positive Relationship: Indicates that variable Y increases whenever X variable increases. It is represented by an upward sloping curve Negative Relationship: Indicates that Y decreases whenever X increases. Downward sloping curves 8
- 9. Lecture 2 Slope: measures the rate at which Y changes with every change in X variable = change in Y/Change in X Intersection: The point at which two (2) curves cross each other 9
- 10. Lecture 2 Ten (10) Principles of Economics: How People make Decisions? 1) - People face Tradeoffs 2) - The cost of something is what you give up to get it 3) - Rational People Think at the Margin 4) - People Respond to Incentives 10
- 11. Lecture 2 How People Interact? 5) – Trade can make everyone betteroff 6) – Markets are usually good way to organise Economic Activity 7) – Governments can sometimes improve market Outcomes 11
- 12. Lecture 2 How The Economy as a Whole Works? 8) – A country’s standard of living Depends on its ability to produce goods and services 9) – Prices rise when governments print too much money 10) – Spcoeity faces a short run tradeoff between Inflation and Unemployment 12
- 13. Questions? End of Lecture 2 Thank you all (for not sleeping!!!) 13