...MBA 6053, Economics for Managers Course Syllabus Course Description Review of managerial economics and problems encountered in firm management. Examines changing economic environment, business trends and fluctuations, and introduces forecasting techniques. Prerequisites None Course Textbook Keat, P., & Young, P. (2009). Managerial economics (6th ed.). Upper Saddle River, NJ: Prentice Hall. Course Learning Objectives Upon completion of this course, students should be able to: 1. Discuss managerial economics and its relationship to microeconomics and other related fields of study such as finance, marketing, and statistics. 2. Decide economic goals for the firm and develop optimal decisions that will bring the firm closest to those goals. 3. Define supply, demand, and equilibrium price. 4. Apply the concepts of price elasticity, cross-elasticity, and income elasticity. 5. Specify the components of a regression model that can be used to estimate a demand equation. 6. Define production function, and explain the difference between a short-run and a long-run production function. 7. Distinguish between economic cost and accounting cost. 8. Describe the key characteristics of the four basic market types used in economic analysis. 9. Cite the main differences between monopolistic competition and oligopoly. 10. Analyze the practice of cartel pricing. 11. Illustrate game theory, and explain how it helps better understand mutually interdependent management decisions. 12. Define...
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...ECON 191, Fall 2012 Guidelines for Writing an Economics Research Paper Writing a good economics paper is both an exciting and a nontrivial task. It requires a sustained effort in identifying an important question and in developing a credible model to think about that question or a testable hypothesis to answer it. In many cases it may require collecting data that gives the opportunity to test the hypothesis that you develop. You are encouraged to structure your paper in four parts: introduction, literature review, body, and conclusion. A brief abstract of no more than 100 words should precede your paper. Introduction Identifying a significant and well formulated question is the single most important part of the research process and the most difficult as well. A good research question has to be concise (remember, you are writing a 15-page paper, not a book), feasible and important. Choosing a research question requires balancing importance and feasibility. Feasibility means tractability for theoretical research and data availability for empirical research. Whenever you come up with an idea for a research question, always try to think about a critic sitting in front of you asking “Why should I care about this?” Consider this question to be a first filter for your research question. Identify a well-defined research question. The introduction is where you (1) present the research question, (2) motivate why it is important and briefly outline (3) how you go about answering it...
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...1. PRINCIPES OF ECONOMICS-MANKIEW CHAPTER 1- QUESTION FOR REVIEW (18) No 3. What is inflation and what causes it? = Inflation is an increase in the overall level of prices in the economy. Inflation happen because culprit is growth in the quantity o money when a government creates larges quantities of the nation’s money, the value of the money. No 5. Explain the two main causes of market failure and give an example of each! = Externality, is the impact of one person’s action on the well being of a bystander Example: pollution. = Market power, is the ability of a single economic actor (or small group of acors) to have a substantial influence on market prices. Example : if everyone in town needs water but there is only one well, the owner of the well is not subject to the rigorous competition with which the invisible hand normally keeps self interest in check. 2. Principles of economics-mankiew CHAPTER 2 –question for review (38) No. 1. Why do economists sometimes offer conflicting advice to policymakers? = economist who advise policymakers offer conflicting advise either because of differences in scientific judgements or because of differences in values. At other times, economist are united in the advice they offer, but policymakers may choose to ignore it. No. 7. What are the subfields into which economics is divided? Explain what each subfield studies. = microeconomics and macroeconomics. Microeconomics is the study of how households and firms are...
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...|[pic] |Syllabus | | |College of Natural Sciences | | |HCS/440 Version 5 | | |Economics: The Financing of Health Care | Copyright © 2010, 2007, 2005, 2004, 2002, 2000 by University of Phoenix. All rights reserved. Course Description This course provides an overview of the economics of health care. The various payers are examined, including private, state, and federal entities. Issues such as the cost effectiveness of prevention, the management of patients and their diseases, as well as the cost of treatment settings are discussed. Third party reimbursement from various sources, ranging from for-profit insurance carriers to charitable donations, are reviewed. The health care system's use of grant funding and research dollars is described. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. ...
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...Question 1 of 30 Score: 8 (of possible 8 points) Bill Bonecrusher graduates from college with a choice of playing professional football at $2 million a year or coaching for $50,000 a year. He decides to play football, but eight years later he quits football to make movies for $3 million a year. His opportunity cost at graduation was _________ and eight years later was _________. | A. | $2 million; $2 million | | B. | $50,000; $2 million | | C. | $50,000; $50,000 | | D. | $2 million; $3 million | Answer Key: B Question 2 of 30 Score: 0 (of possible 8 points) Factors of production or economic resources include | A. | land, labor, physical capital, and technology | | B. | land, labor and natural resources | | C. | land, labor, technology, human capital and entrepreneurship | | D. | natural resources, labor, physical capital and entrepreneurship | Answer Key: D Question 3 of 30 Score: 0 (of possible 8 points) In the circular flow model businesses demand products and supply resources. True False Answer Key: False Review Check to review before finishing (will be flagged in Table of Contents) Question 4 of 30 Score: 8 (of possible 8 points) Price ceilings result in | A. | surplus | | B. | shortage | | C. | inflation | | D. | unemployment | Answer Key: B Question 5 of 30 Score: 8 (of possible 8 points) The price system is based on the law of supply and demand. True False Answer...
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...Finance and International Business at James Madison University. He is an author of several business articles and has been featured in many business journals. His main purpose of this article is to get the reader to understand the differences between the cultures, decision-making, and employment strategies of Japan and the United States. This topic is suitable for my research paper because it helps me answer the first research question, which deals with the elements and dimensions of culture of Japan. Fukuda, J. (1992). The internationalization of Japanese business: different approaches, similar problems. The International Executive , 34 (1), 27-41. John Fukuda is a professor in the department of the International Business at the Chinese University of Hong Kong. He has written peer reviewed articles for the International Executive. His main purpose for this article is to get the reader to understand the Japanese's approach to business versus the other countries. This article is suitable for my research paper because it helps me to answer question numbers 1 and 2 of the Business cultural analysis. Fukukawa, K., & Teramoto, Y. (2008). Understanding Japanese CSR: the reflections of managers in the field of global operations. Journal of Business Ethics , 85 (1), 133-146. Kyoko Fukuawa is a Senior lecturer in marketing at Bradford University School of Management. Her publications appear in the Journal of Business Ethics and Journal of Corporate Citizenship...
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...LL.M INTERNATIONAL BUSINESS TRANSACTIONS LAW 5901 Kazakhstan Institute of Management, Economics, and Strategic Research School of Law REQUIRED TEXT: International Business and Trade [4th ed.] Ricky W. Griffen, Michael W. Pustay COURSE MATERIALS: http://www.eilfe.com/online-courses/kimep.html International Business Transactions REQUIRED TEXT: International Business and Trade [4th ed.] Ricky W. Griffen, Michael W. Pustay COURSE MATERIALS: http://www.eilfe.com/online-courses/kimep.html International Business Transactions KIMEP SUMMER I 2010 COURSE NUMBER: LAW5901 COURSE NAME: INTERNATIONAL BUSINESS TRANSACTIONS CLASS TIME: MTWTHF 20:15 – 21:45, HALL, NEW BUILDING FINAL EXAM: WEEK SIX; Time and date TBA KIMEP SUMMER I 2010 COURSE NUMBER: LAW5901 COURSE NAME: INTERNATIONAL BUSINESS TRANSACTIONS CLASS TIME: MTWTHF 20:15 – 21:45, HALL, NEW BUILDING FINAL EXAM: WEEK SIX; Time and date TBA Instructor: Prof. Dr. John JA Burke BA, JD, Ph.D. E-Mail: jburke@kimep.kz Office: 119, New Building Hours: Appointment Only Instructor: Prof. Dr. John JA Burke BA, JD, Ph.D. E-Mail: jburke@kimep.kz Office: 119, New Building Hours: Appointment Only INTRODUCTION AND OVERVIEW Joseph E. Stiglizt, the winner of the 2001 Nobel Prize in Economics, states, “We have a process of “globalisation” analogous to the earlier processes in which national...
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...Professor Pecquet Economics 201 Study Guide for Exam 1 Exam 1 covers Lectures 1-5 & Gwartney and Stroup chapters 1-5. Format: 40-55 multiple choice questions. You may also have some additional material from Monday’s lecture. Study advice: Try to prepare for the exam in advance in order to get enough sleep the night before. Get plenty rest the night before. This will help you to read the questions carefully. I estimate about 5% of the misses are due to careless reading. Study your assigned homework problems and blackboard quizzes. Use the handout that I prepared for you: Arbitrage & Speculation. Lecture 1 The Economic Approach Related Readings Chapter 1 Define Economics in two ways and understand the difference between each way. Know the meaning and relationship between the following concepts covered in the first lecture: scarcity, rationing/rules, competition and choice. Know especially the concept of opportunity cost and choice. Be able to work opportunity cost problems similar to cost of college and the alternative ways of travel problems that we did in class and on homework. Know the difference between normative and positive. Know the difference between positive sum games, zero sum games and negative sum games as discussed in the lecture. Economists use incentives to set up positive win-win games as in my classroom examples of Australia & golden content in trash. What is meant by the moral hazard problem? Understand...
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... | | |ECO/212 (3 Credits) Version 6 | | |Principles of Economics | | |03/01/2012 - 03/29/2012 | | |PUERTO RICO CAMPUS | Copyright © 2009, 2008, 2006, 2004 by University of Phoenix. All rights reserved. Course Description This course introduces the fundamental theories of microeconomics and macroeconomics. The economic principles studied in this course apply to everyday life as students research an industry, debate issues with trade agreements, discuss the effects of a shift in labor supply and demand, and discuss the strengths and weaknesses of the Consumer Price Index calculation. In particular, students research an industry affected by the economy and perform an economic analysis of the chosen industry. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: University policies: You must be logged into the student website to view this document...
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...Test Overview Sample Questions Scoring Introduction We are excited about your participation in the Bloomberg Assessment Test (BAT). The BAT is a global, standardized online exam that the Bloomberg Institute has developed in partnership with premier companies, university faculty, and business professionals around the world. The test is designed for undergraduates and recent graduates who are interested in an entry‐level job in the business world. The following information packet is intended to familiarize you with the content and structure of the BAT. Enclosed you will find information about the test’s goals, sections, and scoring. There is also a list of annotated sample questions for you to review. If you have any additional questions about the content of the test, please feel free to contact us at bat@bloomberginstitute.com. Table of Contents Introduction Test Overview Sample Questions Scoring Test Overview The BAT aids employers in identifying and screening students who wish to pursue a career in the business world. Test takers should have a general understanding of and familiarity with current events in business, finance, and economics; however, much of what is being assessed is a person’s aptitude and skills to be successful in business. 3 hours 10 sections 150 questions The following pages discuss the different sections of the BAT and the concepts you can expect to see. Test Overview Career Skills Verbal Skills (15 questions) This section...
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...1. Which step in the purchase decision is represented by the following statement? Based on how their expectations have been met, a consumer might make positive or negative comments in social media. * a. Information search * b. Alternative evaluation * c. Post-purchase behavior * d. Needs recognition 2. Fulfillment of what type of need is more likely to have a positive influence on brand loyalty? * a. Hedonic * b. Cognitive * c. Physiological * d. Utilitarian 3. Which statement BEST defines Customer Relationship Management? * a. A marketing approach designed to increase marketing campaign performance through more efficient use of resources. * b. An effective means of dealing with the reams of data that result from serving large customer markets. * c. A tool for aggregating customers' demographic, geographic, and behavioral traits into unified profiles for enhanced relationship management. * d. A management philosophy centered on customers, supported by a data warehouse and analytic processes. 4. Which of the following is NOT a stage in the buyer-seller relationship? * a. Making a relationship difficult to replace * b. Rewarding loyalty with incentives * c. Stimulating interpersonal social bonds * d. Encouraging new relationships to form 5. Which term defines the segmentation technique that is based on information collected by the U.S. Census Bureau? * a. Demographic * b. Behavioral...
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...University Wayne R. Landsman Kenan-Flagler Business School University of North Carolina – Chapel Hill January 2001 We thank Dan Collins, Brian Rountree, participants at the 2000 Journal of Accounting & Economics conference, and the editors, S. P. Kothari, Tom Lys, and Jerry Zimmerman, for helpful comments and suggestions. We appreciate funding from the Financial Research Initiative, Graduate School of Business, Stanford University, and Center for Finance and Accounting Research at UNC-Chapel Hill, Stanford GSB Faculty Trust, and the Bank of America Research Fellowship. Corresponding author: William H. Beaver, Graduate School of Business, Stanford University, 518 Memorial Way, Stanford, CA 94305-5015, (650) 723-4409, fbeaver@leland.stanford.edu The Relevance of the Value Relevance Literature For Financial Accounting Standard Setting: Another View Abstract This paper explains that value relevance research assesses how well accounting amounts reflect information used by equity investors, and provides insights into questions of interest to standard setters. A primary focus of financial statements is equity investment. Other uses of financial statement information, such as contracting, do not diminish the importance of value relevance research. Value relevance questions can be addressed using extant valuation models. Value relevance studies address econometric issues that otherwise could limit inferences, and can accommodate and be used to study the implications of accounting...
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...study below is a review of different articles and the evolution of development perspectives. The study reviews the work of different authors and their perceptions about the evolution of development. A brief summary of the developed economic models has also been included, as most journals have mentioned these theories in their reviews. Development has come a long way over the last sixty years as both a scholarly discipline and as an enterprise. It became very significant after the Second World War and was considered the same as industrialization. Its objective was very clear: to raise incomes and offer goods and services to poor people, who couldn’t have access to them before (Rapely, 2007, p. 1). Evolution can be defined as the self-transformation of a system under study (Witt, 2002, p. 9). Six decades ago, depression and political developments had made first world countries rely on Keynesian models in political and economic circles. This further influenced third world countries whose confidence was supported by the emergence of structural economics in a bid to enter the industrial age. Since the beginning of the twentieth century, those involved with development studies tried to answer the question relating to what it means for the economy to be developed. In a bid to answer this question, many economic models were developed to explain this phenomenon (Onyeka, 2014). These development theories mainly focused on analysing the social-economic phenomenon of development...
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...summery This literature review discusses objectives of financial development and economic growth as well as existing relationship of this concept. Financial development is strongly connected with economic situation, but we do not know for sure if this always implies economic growth. There are many factors which influence relationship between financial development and economic growth and its effects such as financial liberalization, government ownership of the banks, monetary policy and rate of inflation, institutional and regulatory framework of financial markets in particular countries. Many researchers are trying to give the right questions and explanations on this field but still there are unresolved issues and implications which give open space for future investigations. Table of Contents 1. Introduction………………………………………………………….2 2. Literature Review……………………………………………………2 2.1. Relationship between Financial Development and Economic Growth………2 2.2. Empirical methodologies……………………………………………………..5 2.3. Effects of Merger and Acquisitions in Bank Industry on relationship between financial development and economic growth…………………………………7 3. Conclusion…………………………………………………………....8 4. Reference List………………………………………………………..9 1. Introduction Financial system is a basis of current economic trends and there is no possibility...
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...An Exploratory study on the Challenges Faced by Young Male Entrepreneurs in Karachi Research Proposal Spring 2016 4th Feb 2016 Submitted To: Dr. Jawaid Qureshi Submitted By: Abdul Basit - 1435199 Syed Muhammad Haseeb - 1435218 Contents 1. Introduction 2 1.1 Background 3 1.2 Aims of Research 4 2.0 REVIEW OF LITERATURE 4 3.0 RESEARCH METHODOLOGY 6 3.1 Research Questions 6 3.2 Research Design 6 3.3 Sample Size 7 3.4 Research Instrument 7 References 9 1. Introduction: Interest in entrepreneurship in economies has grown within international business research due to the failure of getting employment, limited success of microfmance, lack of experience and knowledge and the relatively the unfulfilled promise of Government sector solutions. Research argues that entrepreneurial orientations and opportunities can be the answer to the former issue. In recent years, entrepreneurship has been regarded as an important element not only of regional economic growth itself, but of economic resilience. It has been suggested that this generation should become known as E-Generation because, they are expected to become the most entrepreneurial generation since the Industrial Revolution (D. F. Kuratko, 2004). This would be no surprise as a Gallup poll (Walstad, 2010) conducted in 2010 found that 69% of its 602 surveyed university students expressed interest in starting a business. However, a similar kind of pool which have the students who has just started their...
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