TAILIEUCHUNG - Microeconomics for MBAs 2

Microeconomics for MBAs 2. The Economic Way of Thinking for Managers. Microeconomics for MBAs develops the economic way of thinking through problems that MBA students will find relevant to their career goals. Maths is kept simple and the theory is illustrated with real-life scenarios | Chapter 1. The Economic Way of Thinking 10 book as well as in specific chapters on topics such as regulation and deregulation and price controls and consumer protection we will examine the practical applications of economic theory. However we hasten to add that this book and course are devoted primarily to microeconomic theory and applications. We make microeconomics our focus because the issues at stake are more relevant to the interests of MBA students and because the microeconomic theory is generally viewed as being sounder than macroeconomic theory. Besides we are firmly convinced that an understanding of the macroeconomy is necessarily dependent on an understanding of the microeconomy. In microeconomics we start with the proposition that all actions are constrained by the fact of scarcity. That is to say in some basic way scarcity and the economic question of how to deal with it touches all of us in how we do business and conduct our lives. We now turn to a study of property rights. Private property rights are one of the institutional mechanisms people have devised to help alleviate the pressing constraints of scarcity which is why we take them up at this early stage in the course. The Meaning and Importance of Property Rights Property rights pertain to the permissible use of resources goods and services they define the limits of social behavior and in that way determine what can be done by individuals in society. They also specify whether resources goods and services are to be used privately or collectively by the state or any smaller group. Property rights are a social phenomenon they arise out of the necessity for individuals to get along within a social space in which all wish to move and interact. Where individuals are isolated from one another by natural barriers or are located where goods and resources are abundant property rights have no meaning. In the world of Robinson Crusoe shipwrecked alone on an island property rights were inconsequential. His .

• Kinh tế học
• Kinh tế vi mô
• cao học
• The Economic Way of Thinking
• Competitive Product Markets
• Principles of Rational Behavior
• Society and Business
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