Management economics: an accelerated approach
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| Main Authors: | , |
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| Format: | Book |
| Language: | English |
| Published: |
Armonk, NY [u.a.]
Sharpe
2007
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| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Item Description: | Includes bibliographical references and index |
| Physical Description: | xxi, 218 p. ill. 25 cm |
| ISBN: | 0765617781 9780765617781 076561779X 9780765617798 |
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MARC
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| 100 | 1 | |a Forgang, William G. |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Management economics |b an accelerated approach |c William G. Forgang and Karl W. Einolf |
| 264 | 1 | |a Armonk, NY [u.a.] |b Sharpe |c 2007 | |
| 300 | |a xxi, 218 p. |b ill. |c 25 cm | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 500 | |a Includes bibliographical references and index | ||
| 650 | 7 | |a Macro-economie |2 gtt | |
| 650 | 7 | |a Micro-economie |2 gtt | |
| 650 | 4 | |a Économie d'entreprise | |
| 650 | 4 | |a Managerial economics | |
| 700 | 1 | |a Einolf, Karl W. |e Verfasser |4 aut | |
| 856 | 4 | 2 | |m HBZ Datenaustausch |q application/pdf |u http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015443598&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |3 Inhaltsverzeichnis |
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Record in the Search Index
| _version_ | 1804136220837543936 |
|---|---|
| adam_text | Brief Contents
List of Tables and Figures xi
Acknowledgments xvii
A Note to Students and Instructors xix
1. The Macro and Microeconomic Environments 3
Appendix 1.1. Regression Analysis 38
Case Study 1.1. Mountain Builders 43
2. Aggregate Output, Prices, and Economic Indicators 46
Case Study 2.1. Kauffman s Management Consulting 73
3. Money and the Financial Markets 74
Case Study 3.1. Economic Scorecard 101
4. Supply and Demand and Market Processes 102
Appendix 4.1 The Market for Foreign Currency Exchange 129
Case Study 4.1 Homes at Barry s Woods 132
5. The Costs of Production 137
Case Study 5.1. Charles Betz, Inc 156
6. Market Structures, Firm Behavior, and Pricing 158
Case Study 6.1. Permalens 188
7. The Economics of Business Strategy 197
Case Study 7.1. Bayview Electronic Components 210
Appendix: Present Value Tables 213
Index 217
V
Detailed Contents
List of Tables and Figures xi
Acknowledgments xvii
A Note to Students and Instructors xix
Chapter 1. The Macro and Microeconomic Environments 3
The Economic Problem 3
Scarcity and Decision Making 3
Scarcity and Macro and Microeconomics 4
Production Possibilities and the Constrained Maximum 4
Opportunity Costs 6
Cost Benefit Analysis 7
Opportunity Costs and International Trade 14
Fundamental Questions and Economic Systems 17
The Economic Environments 19
Macroeconomics and the Business Cycle 19
The Microeconomy 30
Summary 35
Review Terms 35
Discussion Questions 35
Appendix 1.1. Regression Analysis 38
Ordinary Least Squares Regression 38
OLS Regression in Excel 39
Case Study 1.1. Mountain Builders 43
Chapter 2. Aggregate Output, Prices, and Economic Indicators 46
The Circular Flow of Income 46
TheRiskTakers 47
The Markets 48
Income Equals Output 48
Model 1: Two Sector Circular Flow (No Savings) 49
Model 2: Savings with No Business Investment 49
vii
viii DETAILED CONTENTS
Aggregate Demand 50
Economic Indicators: An Introduction 50
Model 3: Savings and Business Investment 52
Economic Indicators 54
Equilibrium Income 54
The Multiplier 55
Local and Microeconomic Effects of the Multiplier 57
The Accelerator. 58
Model 4: Three Sector Circular Flow 59
Fiscal Policy 61
Supply Side Economics 63
Model 5: Imports and Exports 66
The Balance of Payments 68
Foreign Exchange Markets 68
Stock Prices and the Macroeconomy 70
Summary 71
Review Terms 71
Discussion Questions 72
Case Study 2.1. Kauffman s Management Consulting 73
Chapter 3. Money and the Financial Markets 74
The Flow of Funds 74
Financial Markets and Institutions 76
Interest Rates: A First Look 79
The Money Supply 80
Definition of the Money Supply 80
The Equation of Exchange 80
The Federal Reserve: A First Look 81
The Banking System and the Money Supply 82
Check Clearing 83
Monetary Policy, Credit Availability, and Interest Rates 84
Reserve Requirements 84
The Discount Rate and the Federal Funds Rate 84
Open Market Operations 87
Interest Rates 93
Components of Interest Rates 95
The Debt and Equity Markets 98
Summary 100
Review Terms 100
Discussion Questions 100
Case Study 3.1. Economic Scorecard 101
DETAILED CONTENTS ix
Chapter 4. Supply and Demand and Market Processes 102
The Circular Row and Markets , 102
Market Processes 104
Markets as Buying and Selling Environments 104
The Goods Market: Supply, Demand, and Equilibrium 106
The Force of Demand 106
The Force of Supply 109
Supply, Demand, and Equilibrium Ill
Coordination, Market Efficiencies, and Internal Transfers 112
Controlled Prices: Surplus, Shortage, and the Role of Price 114
Supply and Demand: Elasticity Measurements 116
Price Elasticity of Demand 117
Income Elasticity of Demand 120
Cross Price Elasticity of Demand. 122
Other Demand Elasticity Concepts 122
Supply Elasticity 124
Public Goods and Market Failures 126
Summary 127
Review Terms 127
Discussion Questions 127
Appendix 4.1. The Market for Foreign Currency Exchange 129
Exchange Rates 129
Exchange Rate Determination 130
Case Study 4.1. Homes at Barry s Woods 132
Chapter 5. The Costs of Production 137
Accounting and Economic Costs 137
Costs and Output 138
The Market Period 139
The Short Run 139
The Long Run 146
Learning Curve Economies 152
Economies of Scope 152
The Very Long Run 154
Summary 154
Review Terms 154
Discussion Questions 154
Case Study 5.1. Charles Betz, Inc 156
Chapter 6. Market Structures, Firm Behavior, and Pricing 158
Introduction to Market Structures 158
Monopoly Pricing and Profit Maximization 162
x DETAILED CONTENTS
Revenue Sharing Contracts Versus Profit Sharing Contracts 166
Demand Estimation 169
The Natural Monopoly and Government Regulation 171
Oligopoly 173
Monopolistic Competition 180
Perfect Competition 182
Summary 183
Review Terms 184
Discussion Questions 184
Case Study 6.1. Permalens 188
Chapter 7. The Economics of Business Strategy 197
Strategic Analysis and Planning 197
Levels of Strategy 197
Introduction to Strategic Planning 205
The Mission Statement 205
Mission Statements and Reality 206
Adoption of Mission Statement 208
Assessment of the Execution of the Mission 208
Summary 209
Review Terms 209
Discussion Questions 209
Case Study 7.1. Bayview Electronic Components 210
Appendix: Present Value Tables 213
Index 217
Tables and Figures
Tables
1.1 Production Possibilities Data 5
1.2 Expected Value 12
1.3 Investment Options 13
1.4 Present Value of Investment Options 14
1.5 Gains from Trade 16
1.6 Percentage Change in Sales and Percentage Change in National Income. 21
1.7 Forecasting Equation 23
1.8 Sales Forecast 23
1.9 Forecasting with a Lag 26
1.10 Gross Domestic Product 26
1.11 Changes in Gross Domestic Product 27
1.12 Real Gross Domestic Product 27
1.13 Price Deflator 27
Al.l True Regression Equation 38
A1.2 Estimated Regression Equation 39
A1.3 OLS Regression Line 39
Cl.l Historical Data 44
2.1 Income and Output 49
2.2 Income, Spending, Inventory, and Aggregate Output 51
2.3 Selected Economic Indicators 51
2.4 Savings and Investment 53
2.5 Indicators for Business Capital Spending 54
2.6 National Income Determination 55
2.7 The Multiplier 56
2.8 Expanded Multiplier 58
2.9 National Income Determination with the Accelerator 59
2.10 National Income Determination with Government 62
2.11 Expanded Multiplier with Imports 67
xi
lii TABLES AND FIGURES
2.12 National Income Determination with Imports and Exports 67
2.13 Dollar Yen Exchange Rate 69
2.14 Stock Valuation Equation 70
2.15 Stock Price: Constant Dividend Firm 70
2.16 Stock Price: Constant Growth Firm 71
C2.1 Decisions at Kauffman s Management Consulting 73
3.1 Equation of Exchange 80
3.2 New Bank 82
3.3 Deposit Expansion 83
3.4 Multiple Deposit Creation 83
3.5 Balance Sheet 83
3.6 The Federal Reserve and Check Clearing 84
3.7 Cash Management 85
3.8 Discount Window Transaction 86
3.9 Federal Funds Transaction, Step 1 86
3.10 Federal Funds Transaction, Step II 87
3.11 Expansionary Open Market Operations 88
3.12 Contractionary Open Market Operations 89
3.13 Business Investment Analysis 94
3.14 Equity Valuation 99
4.1 Individual s Demand Function 106
4.2 Individual Seller s Supply Function 109
4.3 Price Elasticity of Demand 117
4.4 Income Elasticity of Demand 120
4.5 Cross Price Elasticity of Demand 122
4.6 Price Elasticity of Supply 124
4.7 Resource Price Elasticity of Supply 125
C4.1 Historical and Forecast Data: Homes and Rounds of Golf 135
5.1 Explicit Costs and Accounting Profit 137
5.2 Accounting and Economic Profits 138
5.3 Total, Average, and Marginal Product 140
5.4 Value of the Marginal Product 142
5.5 Short Run Costs and Output 143
5.6 Operating Leverage 145
5.7 Degree of Operating Leverage 145
5.8 Capital Budget Decision 147
5.9 Four Firm Concentration Ratio 150
5.10 Justifiable Concentration Ratio 150
5.11 Economies of Scope 153
C5.1 Watercraft Segment Data, 2006 156
6.1 Market Structures 162
TABLES AND FIGURES xiii
6.2 A Demand Function 163
6.3 Revenue Analysis 164
6.4 A Cost Function 165
6.5 Profit Analysis 166
6.6 Demand Function for a Textbook 167
6.7 Cost Function for a Textbook 167
6.8 Demand Function with Many Variables 169
6.9 Reduced Demand Function when Y Is $35,000 and Ps Is $15 169
6.10 Reduced Demand Function when Y Is $35,000 and Ps Is $25 169
6.11 Data for Demand Estimation 170
6.12 Demand Function Generated Using Regression Analysis 171
6.13 Reduced Demand Function when Y Is $45,000 and Ps Is $25 171
6.14 An Average Cost Function 171
6.15 Natural Monopoly 172
6.16 Price Cutting Game 175
6.17 The Prisoner s Dilemma 176
6.18 The Battle of the Sexes Game 178
6.19 Excel Functions in Figure 6.9 184
6.20 Pie Sharing Game 186
C6.1 Lasik Eye Surgery Data, United States, 2000 2009 190
C6.2 Lasik Eye Surgery Data, United Kingdom, 2000 2009 191
C6.3 Pricing Survey of Potential Permalens Consumers 192
C6.4 Economic Forecast 193
C6.5 Beye o tronics Market Share and Profit 2016 2109 194
C6.6 Beye o tronics Costs of Production 196
7.1 Equity Valuation Equation 201
7.2 The Value Proposition 201
7.3 Value Proposition for a Hypothetical Auto Manufacturer 202
7.4 Mission Statement: Rynk and Associates 205
7.5 Angela s Catering Services 206
7.6 Threats and Opportunities 206
7.7 Strengths and Weaknesses 207
Figures
1.1 Production Possibilities Curve 5
1.2 Opportunity Costs and International Trade 15
1.3 Business Cycle 19
1.4 Scatter Plot 22
1.5 Scatter Plot 24
1.6 Quarterly Growth in Real U.S. GDP at Annual Rates, percent 28
liv TABLES AND FIGURES
1.7 The Consumer Price Index 30
1.8 Production Cost Chain 31
Al.l Excel Regression Dialogue Box 39
A1.2 Excel Regression Output 40
A1.3 OLS Regression Line 40
A1.4 Sample Data with R squared = 1.00 41
A1.5 Sample Data with R squared = 0.72 41
A1.6 Sample Data with R squared = 0.30 41
A1.7 Sample Data with R squared = 0.05 41
2.1 Two Sector Circular Flow Diagram 47
2.2 Circular Flow: Model 2 50
2.3 Circular Flow with Savings and Business Investment 53
2.4 Three Sector Circular Flow Model 61
2.5 Aggregate Supply Curves 64
2.6 Circular Flow with Imports and Exports 66
3.1 Surplus and Deficit Units 75
3.2 The Yield Curve 97
4.1 The Circular Flow 103
4.2 Individual s Demand Curve 107
4.3 Change in the Quantity Demanded and Change in Demand 107
4.4 Individual to Market Demand Curves 108
4.5 Individual Firm s Supply Curve 109
4.6 Change in the Quantity Supplied and Change in Supply 110
4.7 Individual Firms Supply Curves to Market Supply Curves 110
4.8 Supply and Demand Ill
4.9 Changes in Demand and Resource Reallocation 113
4.10 Price Elasticity of Demand 117
4.11 Income Elasticity of Demand 120
4.12 Price Elasticity of Supply 124
4.13 Supply Elasticity 125
A4.1 Dollar Yen Currency Exchange Market 130
5.1 Short Run Costs 143
5.2 The Short Run and Long Run 146
5.3 Long Run Average Cost Curve 148
5.4 Long Run Average Cost and Industry Structure 149
5.5 Technology Change and Efficient Scale 150
5.6 Costs and Competitive Strategy 151
5.7 X Inefficiency 151
5.8 Fifteen Percent Learning Curve 152
6.1 The Demand Curve 163
6.2 Revenue Maximization 164
TABLES AND FIGURES xv
6.3 Profit Maximization 166
6.4 Natural Monopoly 172
6.5 Monopolistic Competition in the Short Run 181
6.6 Monopolistic Competition in the Long Run 181
6.7 Perfect Competition in the Short Run 183
6.8 Perfect Competition in the Long Run 183
6.9 Excel Spreadsheet 184
6.10 Excel Solver Dialogue Box 184
6.11 Excel Solver Solution 185
7.1 Production Cost Chain 198
7.2 Price Competition 203
7.3 Product Difference Strategy 204
7.4 Strategic Planning Model 205
7.5 SWOT Analysis Diagram 208
|
| adam_txt |
Brief Contents
List of Tables and Figures xi
Acknowledgments xvii
A Note to Students and Instructors xix
1. The Macro and Microeconomic Environments 3
Appendix 1.1. Regression Analysis 38
Case Study 1.1. Mountain Builders 43
2. Aggregate Output, Prices, and Economic Indicators 46
Case Study 2.1. Kauffman's Management Consulting 73
3. Money and the Financial Markets 74
Case Study 3.1. Economic Scorecard 101
4. Supply and Demand and Market Processes 102
Appendix 4.1 The Market for Foreign Currency Exchange 129
Case Study 4.1 Homes at Barry's Woods 132
5. The Costs of Production 137
Case Study 5.1. Charles Betz, Inc 156
6. Market Structures, Firm Behavior, and Pricing 158
Case Study 6.1. Permalens 188
7. The Economics of Business Strategy 197
Case Study 7.1. Bayview Electronic Components 210
Appendix: Present Value Tables 213
Index 217
V
Detailed Contents
List of Tables and Figures xi
Acknowledgments xvii
A Note to Students and Instructors xix
Chapter 1. The Macro and Microeconomic Environments 3
The Economic Problem 3
Scarcity and Decision Making 3
Scarcity and Macro and Microeconomics 4
Production Possibilities and the Constrained Maximum 4
Opportunity Costs 6
Cost Benefit Analysis 7
Opportunity Costs and International Trade 14
Fundamental Questions and Economic Systems 17
The Economic Environments 19
Macroeconomics and the Business Cycle 19
The Microeconomy 30
Summary 35
Review Terms 35
Discussion Questions 35
Appendix 1.1. Regression Analysis 38
Ordinary Least Squares Regression 38
OLS Regression in Excel 39
Case Study 1.1. Mountain Builders 43
Chapter 2. Aggregate Output, Prices, and Economic Indicators 46
The Circular Flow of Income 46
TheRiskTakers 47
The Markets 48
Income Equals Output 48
Model 1: Two Sector Circular Flow (No Savings) 49
Model 2: Savings with No Business Investment 49
vii
viii DETAILED CONTENTS
Aggregate Demand 50
Economic Indicators: An Introduction 50
Model 3: Savings and Business Investment 52
Economic Indicators 54
Equilibrium Income 54
The Multiplier 55
Local and Microeconomic Effects of the Multiplier 57
The Accelerator. 58
Model 4: Three Sector Circular Flow 59
Fiscal Policy 61
Supply Side Economics 63
Model 5: Imports and Exports 66
The Balance of Payments 68
Foreign Exchange Markets 68
Stock Prices and the Macroeconomy 70
Summary 71
Review Terms 71
Discussion Questions 72
Case Study 2.1. Kauffman's Management Consulting 73
Chapter 3. Money and the Financial Markets 74
The Flow of Funds 74
Financial Markets and Institutions 76
Interest Rates: A First Look 79
The Money Supply 80
Definition of the Money Supply 80
The Equation of Exchange 80
The Federal Reserve: A First Look 81
The Banking System and the Money Supply 82
Check Clearing 83
Monetary Policy, Credit Availability, and Interest Rates 84
Reserve Requirements 84
The Discount Rate and the Federal Funds Rate 84
Open Market Operations 87
Interest Rates 93
Components of Interest Rates 95
The Debt and Equity Markets 98
Summary 100
Review Terms 100
Discussion Questions 100
Case Study 3.1. Economic Scorecard 101
DETAILED CONTENTS ix
Chapter 4. Supply and Demand and Market Processes 102
The Circular Row and Markets , 102
Market Processes 104
Markets as Buying and Selling Environments 104
The Goods Market: Supply, Demand, and Equilibrium 106
The Force of Demand 106
The Force of Supply 109
Supply, Demand, and Equilibrium Ill
Coordination, Market Efficiencies, and Internal Transfers 112
Controlled Prices: Surplus, Shortage, and the Role of Price 114
Supply and Demand: Elasticity Measurements 116
Price Elasticity of Demand 117
Income Elasticity of Demand 120
Cross Price Elasticity of Demand. 122
Other Demand Elasticity Concepts 122
Supply Elasticity 124
Public Goods and Market Failures 126
Summary 127
Review Terms 127
Discussion Questions 127
Appendix 4.1. The Market for Foreign Currency Exchange 129
Exchange Rates 129
Exchange Rate Determination 130
Case Study 4.1. Homes at Barry's Woods 132
Chapter 5. The Costs of Production 137
Accounting and Economic Costs 137
Costs and Output 138
The Market Period 139
The Short Run 139
The Long Run 146
Learning Curve Economies 152
Economies of Scope 152
The Very Long Run 154
Summary 154
Review Terms 154
Discussion Questions 154
Case Study 5.1. Charles Betz, Inc 156
Chapter 6. Market Structures, Firm Behavior, and Pricing 158
Introduction to Market Structures 158
Monopoly Pricing and Profit Maximization 162
x DETAILED CONTENTS
Revenue Sharing Contracts Versus Profit Sharing Contracts 166
Demand Estimation 169
The Natural Monopoly and Government Regulation 171
Oligopoly 173
Monopolistic Competition 180
Perfect Competition 182
Summary 183
Review Terms 184
Discussion Questions 184
Case Study 6.1. Permalens 188
Chapter 7. The Economics of Business Strategy 197
Strategic Analysis and Planning 197
Levels of Strategy 197
Introduction to Strategic Planning 205
The Mission Statement 205
Mission Statements and Reality 206
Adoption of Mission Statement 208
Assessment of the Execution of the Mission 208
Summary 209
Review Terms 209
Discussion Questions 209
Case Study 7.1. Bayview Electronic Components 210
Appendix: Present Value Tables 213
Index 217
Tables and Figures
Tables
1.1 Production Possibilities Data 5
1.2 Expected Value 12
1.3 Investment Options 13
1.4 Present Value of Investment Options 14
1.5 Gains from Trade 16
1.6 Percentage Change in Sales and Percentage Change in National Income. 21
1.7 Forecasting Equation 23
1.8 Sales Forecast 23
1.9 Forecasting with a Lag 26
1.10 Gross Domestic Product 26
1.11 Changes in Gross Domestic Product 27
1.12 Real Gross Domestic Product 27
1.13 Price Deflator 27
Al.l True Regression Equation 38
A1.2 Estimated Regression Equation 39
A1.3 OLS Regression Line 39
Cl.l Historical Data 44
2.1 Income and Output 49
2.2 Income, Spending, Inventory, and Aggregate Output 51
2.3 Selected Economic Indicators 51
2.4 Savings and Investment 53
2.5 Indicators for Business Capital Spending 54
2.6 National Income Determination 55
2.7 The Multiplier 56
2.8 Expanded Multiplier 58
2.9 National Income Determination with the Accelerator 59
2.10 National Income Determination with Government 62
2.11 Expanded Multiplier with Imports 67
xi
lii TABLES AND FIGURES
2.12 National Income Determination with Imports and Exports 67
2.13 Dollar Yen Exchange Rate 69
2.14 Stock Valuation Equation 70
2.15 Stock Price: Constant Dividend Firm 70
2.16 Stock Price: Constant Growth Firm 71
C2.1 Decisions at Kauffman's Management Consulting 73
3.1 Equation of Exchange 80
3.2 New Bank 82
3.3 Deposit Expansion 83
3.4 Multiple Deposit Creation 83
3.5 Balance Sheet 83
3.6 The Federal Reserve and Check Clearing 84
3.7 Cash Management 85
3.8 Discount Window Transaction 86
3.9 Federal Funds Transaction, Step 1 86
3.10 Federal Funds Transaction, Step II 87
3.11 Expansionary Open Market Operations 88
3.12 Contractionary Open Market Operations 89
3.13 Business Investment Analysis 94
3.14 Equity Valuation 99
4.1 Individual's Demand Function 106
4.2 Individual Seller's Supply Function 109
4.3 Price Elasticity of Demand 117
4.4 Income Elasticity of Demand 120
4.5 Cross Price Elasticity of Demand 122
4.6 Price Elasticity of Supply 124
4.7 Resource Price Elasticity of Supply 125
C4.1 Historical and Forecast Data: Homes and Rounds of Golf 135
5.1 Explicit Costs and Accounting Profit 137
5.2 Accounting and Economic Profits 138
5.3 Total, Average, and Marginal Product 140
5.4 Value of the Marginal Product 142
5.5 Short Run Costs and Output 143
5.6 Operating Leverage 145
5.7 Degree of Operating Leverage 145
5.8 Capital Budget Decision 147
5.9 Four Firm Concentration Ratio 150
5.10 Justifiable Concentration Ratio 150
5.11 Economies of Scope 153
C5.1 Watercraft Segment Data, 2006 156
6.1 Market Structures 162
TABLES AND FIGURES xiii
6.2 A Demand Function 163
6.3 Revenue Analysis 164
6.4 A Cost Function 165
6.5 Profit Analysis 166
6.6 Demand Function for a Textbook 167
6.7 Cost Function for a Textbook 167
6.8 Demand Function with Many Variables 169
6.9 Reduced Demand Function when Y Is $35,000 and Ps Is $15 169
6.10 Reduced Demand Function when Y Is $35,000 and Ps Is $25 169
6.11 Data for Demand Estimation 170
6.12 Demand Function Generated Using Regression Analysis 171
6.13 Reduced Demand Function when Y Is $45,000 and Ps Is $25 171
6.14 An Average Cost Function 171
6.15 Natural Monopoly 172
6.16 Price Cutting Game 175
6.17 The Prisoner's Dilemma 176
6.18 The Battle of the Sexes Game 178
6.19 Excel Functions in Figure 6.9 184
6.20 Pie Sharing Game 186
C6.1 Lasik Eye Surgery Data, United States, 2000 2009 190
C6.2 Lasik Eye Surgery Data, United Kingdom, 2000 2009 191
C6.3 Pricing Survey of Potential Permalens Consumers 192
C6.4 Economic Forecast 193
C6.5 Beye o tronics Market Share and Profit 2016 2109 194
C6.6 Beye o tronics Costs of Production 196
7.1 Equity Valuation Equation 201
7.2 The Value Proposition 201
7.3 Value Proposition for a Hypothetical Auto Manufacturer 202
7.4 Mission Statement: Rynk and Associates 205
7.5 Angela's Catering Services 206
7.6 Threats and Opportunities 206
7.7 Strengths and Weaknesses 207
Figures
1.1 Production Possibilities Curve 5
1.2 Opportunity Costs and International Trade 15
1.3 Business Cycle 19
1.4 Scatter Plot 22
1.5 Scatter Plot 24
1.6 Quarterly Growth in Real U.S. GDP at Annual Rates, percent 28
liv TABLES AND FIGURES
1.7 The Consumer Price Index 30
1.8 Production Cost Chain 31
Al.l Excel Regression Dialogue Box 39
A1.2 Excel Regression Output 40
A1.3 OLS Regression Line 40
A1.4 Sample Data with R squared = 1.00 41
A1.5 Sample Data with R squared = 0.72 41
A1.6 Sample Data with R squared = 0.30 41
A1.7 Sample Data with R squared = 0.05 41
2.1 Two Sector Circular Flow Diagram 47
2.2 Circular Flow: Model 2 50
2.3 Circular Flow with Savings and Business Investment 53
2.4 Three Sector Circular Flow Model 61
2.5 Aggregate Supply Curves 64
2.6 Circular Flow with Imports and Exports 66
3.1 Surplus and Deficit Units 75
3.2 The Yield Curve 97
4.1 The Circular Flow 103
4.2 Individual's Demand Curve 107
4.3 Change in the Quantity Demanded and Change in Demand 107
4.4 Individual to Market Demand Curves 108
4.5 Individual Firm's Supply Curve 109
4.6 Change in the Quantity Supplied and Change in Supply 110
4.7 Individual Firms' Supply Curves to Market Supply Curves 110
4.8 Supply and Demand Ill
4.9 Changes in Demand and Resource Reallocation 113
4.10 Price Elasticity of Demand 117
4.11 Income Elasticity of Demand 120
4.12 Price Elasticity of Supply 124
4.13 Supply Elasticity 125
A4.1 Dollar Yen Currency Exchange Market 130
5.1 Short Run Costs 143
5.2 The Short Run and Long Run 146
5.3 Long Run Average Cost Curve 148
5.4 Long Run Average Cost and Industry Structure 149
5.5 Technology Change and Efficient Scale 150
5.6 Costs and Competitive Strategy 151
5.7 X Inefficiency 151
5.8 Fifteen Percent Learning Curve 152
6.1 The Demand Curve 163
6.2 Revenue Maximization 164
TABLES AND FIGURES xv
6.3 Profit Maximization 166
6.4 Natural Monopoly 172
6.5 Monopolistic Competition in the Short Run 181
6.6 Monopolistic Competition in the Long Run 181
6.7 Perfect Competition in the Short Run 183
6.8 Perfect Competition in the Long Run 183
6.9 Excel Spreadsheet 184
6.10 Excel Solver Dialogue Box 184
6.11 Excel Solver Solution 185
7.1 Production Cost Chain 198
7.2 Price Competition 203
7.3 Product Difference Strategy 204
7.4 Strategic Planning Model 205
7.5 SWOT Analysis Diagram 208 |
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| author | Forgang, William G. Einolf, Karl W. |
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| ctrlnum | (OCoLC)63472934 (DE-599)BVBBV022232541 |
| dewey-full | 330.024/65 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 330 - Economics |
| dewey-raw | 330.024/65 |
| dewey-search | 330.024/65 |
| dewey-sort | 3330.024 265 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| format | Book |
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| id | DE-604.BV022232541 |
| illustrated | Illustrated |
| index_date | 2024-07-02T16:32:58Z |
| indexdate | 2024-07-09T20:52:57Z |
| institution | BVB |
| isbn | 0765617781 9780765617781 076561779X 9780765617798 |
| language | English |
| lccn | 2006003847 |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-015443598 |
| oclc_num | 63472934 |
| open_access_boolean | |
| owner | DE-19 DE-BY-UBM |
| owner_facet | DE-19 DE-BY-UBM |
| physical | xxi, 218 p. ill. 25 cm |
| publishDate | 2007 |
| publishDateSearch | 2007 |
| publishDateSort | 2007 |
| publisher | Sharpe |
| record_format | marc |
| spelling | Forgang, William G. Verfasser aut Management economics an accelerated approach William G. Forgang and Karl W. Einolf Armonk, NY [u.a.] Sharpe 2007 xxi, 218 p. ill. 25 cm txt rdacontent n rdamedia nc rdacarrier Includes bibliographical references and index Macro-economie gtt Micro-economie gtt Économie d'entreprise Managerial economics Einolf, Karl W. Verfasser aut HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015443598&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Forgang, William G. Einolf, Karl W. Management economics an accelerated approach Macro-economie gtt Micro-economie gtt Économie d'entreprise Managerial economics |
| title | Management economics an accelerated approach |
| title_auth | Management economics an accelerated approach |
| title_exact_search | Management economics an accelerated approach |
| title_exact_search_txtP | Management economics an accelerated approach |
| title_full | Management economics an accelerated approach William G. Forgang and Karl W. Einolf |
| title_fullStr | Management economics an accelerated approach William G. Forgang and Karl W. Einolf |
| title_full_unstemmed | Management economics an accelerated approach William G. Forgang and Karl W. Einolf |
| title_short | Management economics |
| title_sort | management economics an accelerated approach |
| title_sub | an accelerated approach |
| topic | Macro-economie gtt Micro-economie gtt Économie d'entreprise Managerial economics |
| topic_facet | Macro-economie Micro-economie Économie d'entreprise Managerial economics |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015443598&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| work_keys_str_mv | AT forgangwilliamg managementeconomicsanacceleratedapproach AT einolfkarlw managementeconomicsanacceleratedapproach |