The role of a managerial economist is to help business managers make intelligent decisions by obtaining and processing relevant economic information. Managers must understand what information to obtain based on economic theory and how to analyze it to further the goals of their organization. Specifically, managerial economists undertake functions like production scheduling, demand forecasting, market research, industry analysis, investment appraisal, and advising on pricing, foreign exchange, and trade. They also analyze how internal and external factors like economic conditions, demand, costs, competition, and government policies influence business decisions.
This presentation is made by Toran Lal Verma. Meaning, nature, and scope of Financial Management are discussed. scope and objectives of financial management have been discussed along with merits and demerits.
This presentation is made by Toran Lal Verma. Meaning, nature, and scope of Financial Management are discussed. scope and objectives of financial management have been discussed along with merits and demerits.
This presentation is about corporate financial reporting and it covers the following topics under it :
- Meaning
- Objectives
- Purpose
- Advantages
- Meaning of Annual Report
- Content of Annual Report
this ppt is helpful for BBA/B.tech//MBA/M.tech students.
the ppt is on simulation topic...its covers -
Meaning
Advantages & Disadvantages
Uses
Process
Monte Carlo SImulation
Advantages & Disadvantages
Its example
Scope of Business Research, Business research methods, Meaning of business research, Scope of business research, Production management, Personnel management, Marketing management, Financial management, materials management, General management, Banking management.
Subscribe to Vision Academy for Video Assistance
https://www.youtube.com/channel/UCjzpit_cXjdnzER_165mIiw
This presentation is about corporate financial reporting and it covers the following topics under it :
- Meaning
- Objectives
- Purpose
- Advantages
- Meaning of Annual Report
- Content of Annual Report
this ppt is helpful for BBA/B.tech//MBA/M.tech students.
the ppt is on simulation topic...its covers -
Meaning
Advantages & Disadvantages
Uses
Process
Monte Carlo SImulation
Advantages & Disadvantages
Its example
Scope of Business Research, Business research methods, Meaning of business research, Scope of business research, Production management, Personnel management, Marketing management, Financial management, materials management, General management, Banking management.
Subscribe to Vision Academy for Video Assistance
https://www.youtube.com/channel/UCjzpit_cXjdnzER_165mIiw
This presentation provides the complete Role and responsibilities of a person acting as a Finance Manager in any XYZ organization.
One can very well use this as a reference to see the basic Job Description for the post of a Finance Manager and can gain meaningful insights from it.
Unit 1 Managerial economics: Meaning, nature and scope;Economic theory and managerial economic; Managerialeconomics and business decision making; Role of managerial economics.Unit 2Demand Analysis: Meaning, types and determinants of demand.Unit 3Cost Concepts: Cost function and cost outputrelationship; Economics and diseconomies of scale;Cost control and cost reduction.Unit 4Production Functions: Pricing and output decisionsunder competitive conditions; Government control overpricing; Price discrimination; Price discount anddifferentials.Unit 5Profit: Measurement of profit; Profit planning andforecasting; Profit maximization; Cost volume profitanalysis; Investment analysis.Unit 6National Income: Business cycle; Inflation and deflation;Balance of payment; Their implications in managerialdecision.
LESSON – 1
BSPATIL
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
Unit 8 - Information and Communication Technology (Paper I).pdf
Role of a managerial economist in business
1. Role of a Managerial Economist
in business
Making decisions and processing information are
the two primary tasks of managers.
•In order to make intelligent decisions, managers
must be able to obtain, process and use
information.
•The purpose of learning economic theory is to
help managers know what information should be
obtained and how to process and use the
information.
2. • The task of organizing and processing
information and then making an intelligent
decision based upon this information and the
basic theory can take two general forms:
• 1. Task of making specific decisions by
managers
• General task of managers to use readily
available information to make a decision or
carryout a course of action that Furthers the
goals of the organization.
3. • Specific decisions:
• there are several decisions that managers might
have to take.
• Ex: whether or not to close down a branch of firm
that has recently been unprofitable.
• Whether or not a store should stay open more
hours a day.
• Whether to pay for outside computing or copying
services rather than install an in house computer
or copier.
4. • After conducting a survey of British industry
Alexander and kemp came to the conclusion
that the managerial economist undertakes the
following specific functions:
• Production scheduling.
• Demand forecasting.
• Market research
• Economic analysis of industry.
• Investment appraisal,
• Security management analysis
5. • Advice on foreign exchange management.
• Advice on trade.
• Pricing and the related decisions and analyzing
and forecasting environmental factors.
6. • All of these and a myriad of other managerial
decisions require the use of the basic
economics.
• General tasks :
• Economic theory helps decision-makers to
know what information is necessary to make
an intelligent decision to fine the correct
solution to a problem and to learn how to
process and use that information.
7. • After obtaining the desired information or as
much information as is economically feasible
to obtain, the manager must analyze this
information and use it in correspondence with
the theoretical and statistical tools available to
make the best decision possible under the
circumstances.
8. • We find that business is influence by two sets of
decision factors:
• External factors
• Internal factors.
• External factors:
• the most important external factor is
• The general economic condition of the economy,
such as the level and rate of growth of national
income, regional income distribution, influence of
international factors on the domestic economy,
the business cycle etc.
9. • The managerial economist must obtain and
process information with regard to these
changes, advise the management regarding
their likely effects on the operations of the
firm and suggest possible ways to further the
organization’s goals.
• The second important external factor for a
firm is the prospects of demand for the
product.
10. • Thirdly the managerial economist also tries to
find out if there is anything which is
influencing the input cost of the firm.
• Fourthly the market conditions of raw
material and finished product is also a subject
of study by the managerial economist.
• Next managerial economist can also help in
the expansion of the firm’s share in the
market.
11. • Lastly managerial economist has also to keep
in touch with the government’s economic
policies and the central bank’s monetary
policies, annual budgets of the government,
etc.
12. Internal factors:
• The role of managerial economist in internal
management is:
• He helps in deciding about the production,
sales and inventory schedules of the firm.
• He not only provides information regarding
their present level but also forecasts their
future trend.
13. • A managerial economist is used best to
provide the pricing and profit policies.
• The firm also needs the help of managerial
economist for its investment decisions.
• For this he need to forecast the return on the
investment and the cost that the firm incurs
by taking up the investment.