TAILIEUCHUNG - Lecture Managerial economics (10/e): Chapter 1 - Christopher R. Thomas, S. Charles Maurice

Chapter 1 - Managers, profits, and markets. After studying this chapter you will be able to: Explain the role of economic theory in managerial economics, contrast routine business practices (or tactics) with strategic decisions, list seven economic forces that influence the long-run profitability of firms, measure the explicit opportunity cost of using market-supplied resources to produce goods or services,. | Chapter 1: Managers, Profits, and Markets McGraw-Hill/Irwin Copyright © 2011 by the McGraw-Hill Companies, Inc. All rights reserved. Managerial Economics & Theory Managerial economics applies microeconomic theory to business problems How to use economic analysis to make decisions to achieve firm’s goal of profit maximization Economic theory helps managers understand real-world business problems Uses simplifying assumptions to turn complexity into relative simplicity Microeconomics Microeconomics Study of behavior of individual economic agents Business practices or tactics Using marginal analysis, microeconomics provides the foundation for understanding everyday business decisions Industrial organization Specialized branch of microeconomics focusing on behavior & structure of firms & industries Provides foundation for understanding strategic decisions through application of game theory Assume Profit Maximization What about? Steakholders Social concerns Environmental concerns Do

• Quản trị kinh doanh
• Managerial economics
• Lecture Managerial economics
• Microeconomic theory
• Economic theory
• Economic cost
• Perfect competition
• Market interactions
• Fundamentals of managerial economics
• Marginal analysis
• Marginal benefit
• Economic principles
• Kinh tế học quản lý
• Price discrimination
• Monopolistic competition
• Oligopoly games
• Traditional oligopoly models
• Capital market
• Labour market
• Economic equations
• Economic applications
• Economic applications of derivatives
• Economic application
• Multi variable functions
• Constrained optimization
• Scatter diagram
• Forms of money
• Monetary policy
• Demand function
• Supply function
• Quantitative demand analysis
• Theory of individual behavior
• Demand estimation
• Production function
• Costs of production
• Organizing production