...College of Economics and Management 85 COLLEGE OF ECONOMICS AND MANAGEMENT Libornio S. Cabanilla, Dean Jose V. Camacho, Jr., Associate Dean Agnes T. Banzon, College Secretary Reynaldo L. Tan, Chair, Dept. of Agribusiness Management Cesar B. Quicoy, Chair, Dept. of Agricultural Economics Amelia L. Bello, Chair, Dept. of Economics The College of Economics and Management (CEM) was formally created in the 996th UP-BOR meeting, February 1987. However, the College traces its roots to the Institute of Agricultural Development and Administration (IADA)which was established in 1975, with three departments – Agricultural Economics (DAE), Economics (DE), and Management (DM), and was elevated to the College of Economics and Management from the merger of IADA with the Agricultural Credit and Cooperative Studies and the Agrarian Reform Institute in 1978. At present, CEM is composed of three departments – the Department of Agricultural Economics, the Department of Economics and the Department of Agribusiness Management. The college sees itself as a center of excellence in undergraduate and graduate instruction, research and extension in economics, agricultural and applied economics, and agribusiness management in Asia. It envisions to be an institution of higher learning that can serve as an active catalyst for economic and social transformation. Its two-fold mission is to produce graduates and future leaders with strong training in economics, agricultural and applied economics, and in agribusiness...
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...Dr. Mohammed Alwosabi Econ 140 – Ch. 11 Notes on Ch. 11 PERFECT COMPETITION This chapter examines the basic elements of perfect competition and the competitive firm. It examines how businesses with a given market price make production decisions that help maximizing profit. Characteristics of Perfect Competition 1. Many firms, each is selling an identical product. Each firm’s output is a perfect substitute for the output of the other firms, so the demand for each firm’s output is perfectly elastic. 2. Large number of buyers who are indifferent from whom to buy 3. No barriers (restrictions) to entry or exit; it is relatively easy to get into the business 4. Each firm produces a very small share of the total output so that no individual firm has the market power to influence the market price of the good it produces. A perfectly competitive firm is a price taker; it takes the market price as given. 5. Firms already in the industry have no advantage over new entrants 6. Complete information is available to buyers and sellers are about price, demand, and supply in the market 7. Perfectly competitive firms earn zero economic profit in the long run (only normal profit) 1 Dr. Mohammed Alwosabi Econ 140 – Ch. 11 Market demand curve vs. firm demand curve It is important to distinguish between the market demand curve and the demand curve facing a particular firm. The equilibrium market price is determined by the interaction of market demand and...
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...Dr. Mohammed Alwosabi Econ 140 – Ch.2 Notes on Chapter 2 PRODUCTION POSSIBILITIES FRONTIER This chapter reinforces the central themes of Chapter one by laying out the core economic model, the PPF, and using it to illustrate the concepts of scarcity, tradeoff and opportunity cost. It explains, with a model, the concepts of marginal cost and marginal benefit, introduces efficiency, and explains how we can expand production by accumulating capital and improving technology. The economic problem of allocating resources (making choices) in a situation of scarcity can be illustrated by explaining the concept of the production possibilities frontier (PPF). Production Possibilities Frontier (PPF) refers to the maximum combinations of goods and services an economy can produce efficiently using its available resources and technology within a given period of time. It is the boundary between the goods and services that can be produced from those that cannot. The PPF model is a graphical illustration with the following assumptions 1. The society has a fixed amount of available common resources. i.e., the same limited resources can be used to produce either of the goods. 2. The society has a fixed amount of technology 3. Full employment of resources 4. The choice is between producing two goods: Machines and Food. All other goods and services are assumed being the same (ceteris paribus). This assumption is to allow the use of simple graphical analysis. Note that these assumptions are...
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...1/22/2014 ECON 105 – Principles of Macroeconomics Junjie Liu – Econ 105 1 Difference in Living Standards Across Countries A typical family with all their possessions in the U.K., a developed economy GDP per capita: $36,130 Life expectancy: 80 years Adult literacy: 99% Junjie Liu – Econ 105 2 1 1/22/2014 Difference in Living Standards Across Countries A typical family with all their possessions in Mexico, a middle income country GDP per capita: $14,270 Life expectancy: 76 years Adult literacy: 86% Junjie Liu – Econ 105 3 Difference in Living Standards Across Countries A typical family with all their possessions in Mali, a poor country GDP per capita: $1,090 Life expectancy: 52 years Adult literacy: 46% Junjie Liu – Econ 105 4 2 1/22/2014 Economic Growth Across the World Junjie Liu – Econ 105 5 6 3 1/22/2014 ...
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...and Sciences: Social Science Associate in Arts The Liberal Arts and Sciences major is designed for students planning to transfer to either the California State University or University of California. To earn the Associate in Arts degree with a Liberal Arts and Sciences major, students must complete either the Intersegmental General Education Transfer Curriculum (IGETC) UC or CSU option or the CSU General Education Certification pattern and one of the three areas of emphasis. The areas of emphasis are: Mathematics and Science, Social and Behavioral Sciences or Humanities. The area of emphasis requires a minimum of 18 units with a grade of "C" or better in all courses in the area of emphasis. The courses identified for each area of emphasis fulfill major preparation requirements as demonstrated through ASSIST articulation. A minimum of six units must be within a single discipline and in the case of the Mathematics and Science area of emphasis at least one mathematics course must be completed. Select courses based on ASSIST data for major preparation articulation with selected transfer institutions. Consult a counselor for specific information regarding the intended major at the college the student is choosing. Courses used to complete a student's area of emphasis can double count for general education just as they may for any other major. Although the associate degree recognizes the completion of lower division general education requirements, it does not guarantee...
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...assets and the proceeds from the sale of capital assets the deletion of long-term debt proceeds and amounts spent to repay long-term debts and the addition of any gain or loss on the retirement of debt and the amortization of any debt premium or discount. 3. The key criterion is financial accountability the primary government either appoints a voting majority of the units governing body or a majority of the units governing body is composed of primary government officials and the primary government is able to impose its will upon the potential component unit or there is the potential for the organization to provide specific financial benefits to, or impose specific financial burdens on, the primary government. 4. Discrete presentation is when one or more component units are reported in separate columns, in addition to those pertaining to the primary government. Blending is when the component units transactions and balances are reported as if they were part of the primary government that is, the component units funds are accounted for just as they were funds of the primary government. Blending is required when the primary government and the component units are controlled by governing boards having the same members or the component unit provides services solely to the primary government. If those conditions are not satisfied then discrete presentation is required. 5. Discrete presentation, as it must be applied in government-wide statements, allows for the aggregation of any number...
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...Liberal Arts degrees). 2. Certified completion of either the California State University (CSU) General Education Breadth pattern (CSU GE) or the Intersegmental General Education Transfer Curriculum (IGETC for CSU). 3. Completion of a minimum of 90 CSU-transferrable quarter units (De Anza courses numbered 1-99) with a minimum 2.0 GPA (“C” average). 4. Completion of all De Anza courses combined with courses transferred from other academic institutions with a minimum 2.0 degree applicable GPA (“C” average). Note: A minimum of 18 quarter units must be earned at De Anza College. Major courses for certificates and degrees must be completed with a letter grade unless a particular course is only offered on a pass/no-pass basis. Associate in Science in Business Administration for Transfer A.S.-T. Degree The Business major consists of courses appropriate for an Associate in Science in Business Administration for Transfer degree, which provides a foundational understanding of the discipline, a breadth of coursework in the discipline, and preparation for transfer to any CSU that accepts the Transfer Model Curriculum (TMC). Students transferring to a CSU campus that does accept this degree will be required to complete no more than 60 (semester) units after transfer to earn a bachelor’s degree. This degree may not be the best option for students intending to transfer to a particular CSU campus or to a university or college that...
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...Econ 101: Intro to Microeconomics Spring 2012, Handout 8 Solutions More on Monopolies 1. A monopoly faces a market demand curve given by P = 42 − Q. Its marginal cost curve is given by M C = Q. (a) Find an equation for the marginal revenue curve. Graph market demand, marginal revenue, and marginal cost for this monopoly. Double the slope of the demand curve to get the MR: M R = 42 − 2Q. The graph should show a line twice as steep as the original demand curve, but with the same price intercept. Note: the “double the slope” rule only works when the equation is solved for P! (b) Find the profit-maximizing level of production for this monopolist. M R = M C to get 42 − 2Q = Q ⇒ Q = 14. (c) What price will the monopolist charge? Plug the Q from part (b) into the demand curve: P = 42 − 14 = $28. (d) Is marginal revenue equal to price? Why or why not? Marginal revenue is less than price because the price effect (an increase in price per unit tends to increase total revenue) and the quantity effect (an increase in the price per unit tends to decrease the quantity sold, which lowers total revenue) move in opposite directions. (e) What price would be socially optimal? 1 Econ 101: Intro to Microeconomics Spring 2012, Handout 8 Solutions Socially optimal price where M C = P ⇒ Q = 42 − Q ⇒ Q = 21 ⇒ P = 42 − 21 = $21. (f) What is the monopolist’s total revenue? T R = P ∗ Q = 28 ∗ 14 = 392 2. Suppose a local utility company has a demand curve given by P = 120 − 4Q. TC for...
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...ACC 576 Final Exam Guide For more course tutorials visit www.tutorialrank.com ACC 576 Final Exam Study Question 1 (IFTC-0112) Controls in the information technology area are classified into the preventive, detective, and corrective categories. Which of the following is a preventive control? Question 2 (IFTC-0082) An organization relied heavily on e-commerce for its transactions. Evidence of the organization’s security awareness manual would be an example of which of the following types of controls? Question 3 (IFTC-0067) Which of the following types of control plans is particular to a specific process or subsystem, rather than related to the timing of its occurrence? Question 4 (CGIC-0032) Which of the following is true about the Sarbanes-Oxley requirements regarding the audit committee financial expert? Question 5 (CGIC-0026) Which of the following is not a component of COSO’s enterprise risk management framework? Question 6 (CGIC-0010) Which of the following is not required by the Sarbanes-Oxley Act of 2002? Question 7 (CGIC-0025) Which of the following is not an advantage of the employment of an enterprise risk management (ERM) system? Question 8 (CGIC-0008) A financial statement audit performed under the requirements of the Sarbanes-Oxley Act of 2002 must include an examination and report upon Question 9 (CGIC-0024) An important benefit of an enterprise risk management system is Question 10 (CGIC-0023) Which of the following...
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...Econ 222 Assignment 3 Click Link Below To Buy: http://hwaid.com/shop/econ-222-assignment-3/ Econ 222 Macroeconomic Theory I Assignment #3 Question 1: The Solow growth model Consider the following production function: Y (t ) = F (K (t ),A(t )N (t )), (1) where Y (t ) denotes output, K (t ) denotes total capital input, A(t ) denotes “knowledge”, and N (t ) denotes total labour input. F (•, •) is the aggregate production function. Note that A(t )N (t ) is commonly referred as effective labour, and technological progress that enters the production function in this fashion is known as labour-augmenting or Harrod-neutral. a) Derive the intense form (per unit of effective labour) of the production function, using the abstract production function above. b) We know the actual production function is Y (t ) = K (t )α [A(t )N (t )]1−α . (2) Denote the population growth rate as n, the depreciation rate as d, the growth rate of knowledge as д, and the saving rate as s. First derive the steady state condition for this economy (involving investment per unit of effective labour), and then solve for the steady state level of capital per unit of effective labour, k ∗ (t ). c) Given the result in b), solve for the steady state level of output per worker y ∗ (t ), and consumption per worker c ∗ (t ). 1 d) Solve for the Golden rule level of capital per worker, kG . If the government can choose a saving rate for the economy, what saving rate should...
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...2014 - 2015 THE FACULTY OF SOCIAL SCIENCES TABLE OF CONTENTS MESSAGE FROM THE DEAN ............................................................. 3 UNDERGRADUATE PROGRAMMES ................................................ 4 ACADEMIC CALENDAR 2014-2015 ................................................ 5 DEFINITIONS ...................................................................................... 13 GENERAL INFORMATION & REGULATIONS .............................. 14 General Regulations for Bachelor of Science Degrees 14 Special Regulations for Degrees in Hospitality and Tourism Management........................................................... 27 Franchise Agreements .......................................................... 27 EVENING UNIVERSITY -GENERAL INFORMATION & REGULATIONS ................................................................................... 28 General Regulations for Bachelor of Science Degrees 28 General Regulations for Diploma Programmes ............ 36 General Regulations for Certificate Programmes ......... 37 STUDENT PRIZES .............................................................................. 38 CODE OF CONDUCT ........................................................................ 39 UNIVERSITY REGULATIONS ON PLAGIARISM .......................... 40 THE ACADEMIC SUPPORT/ DISABILITIES LIAISON UNIT (ASDLU) ............................................................................................... 42 POSTGRADUATE STUDIES IN THE FACULTY...
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...ECONOMICS 201: PRINCIPLES OF MACROECONOMICS Fall Term 2015 2:00-3:15 PM Mondays and Wednesdays Room 1090 CASL CRN # 11014 Section 004 Carol Hogan Office Hours: 10:00-10:45 AM 2190 Social Sciences Building Mondays and Wednesdays, 1:00- 313-436-9181 1:45 PM Mondays and Wednesdays, clhogan@umich.edu 5:00-5:45 PM Mondays, and by appointment |ECON 201 - Prin: Macroeconomics | |Together with ECON 202, this course serves to introduce the student to the basic ideas and concepts of modern economic analysis, and applies| |them to current economic problems, policies and issues. The focus of this course is on macroeconomics: income and wealth, employment, and | |prices at the national level in the United States economy. It is recommended that students take ECON 201 before ECON 202. MATH 105 is highly| |recommended but not required. (F,W,S). | |ECON 201 - Prin: Macroeconomics | |Together with ECON 202, this course serves to introduce the student to the basic ideas and concepts of modern economic analysis, and applies| |them to current economic problems, policies and issues. The focus of this course is on macroeconomics: income...
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...Marketing Plan for Brand Roll of MarkStrat firm R Period 2 Submitted by: Zac Lennon Submitted to: The Board of Directors Executive Summary The brands performance for the first period wasn’t where we wanted it to be but we see many opportunities for this brand to grow and expand. The strength of this brand is that the performance level is higher than any of its competitors. The weakness is that this product has such a high base cost that we were forced to have such a high retail price. The plan to improve the brand performance is to do an R&D project to reduce the base cost which will allow us to make more money and to also reduce the selling price to its competitors. In return this will also put us in good standing with our primary target market and will make us the only firm with sole control of the explorer market. The performance objectives for the first period were as followed. The sales of the first period were 13,100, while we only got 8.1% of our primary target market. We understand completely that this isn’t good enough and we are doing everything in our power to fix this so it doesn’t happen again next period. Our goal for next period is to have at least 20% of the market share. We will see it is attainable because of all the changes that we will discuss with you later on this paper. I. Overview a. The brands current primary target segment is explorers. The other competitive brands in the segment are TOPS and LOOP. The brand in a way has a secondary...
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...Macroeconomic Theory: Econ 2220 1 Math For Econ 2220 B 1 1.1 Shifts of a Curve vs. Movement along a Curve Parameter and variable y = f (x, a) (1) Suppose y is a function of x, and where a is a parameter, which represents the impact of other exogenous variables. Given a certain value of a, we can plot the function y = f (x, a) as a curve in a two-dimension graph. A change in x implies a movement along the curve, while a change in a means a shift of the curve. 1.2 An example Suppose the firm’s daily output, Y , depends on both the number of workers that the firm employs, N , and the number of machines that the firm uses, K. The relation between input and output is specified as the following, √ √ Y =2 K N (2) Output Y is a function of both the number of machines, K, and the number of workers, √ √ N . For example, if there are 100 machines and 4 workers, the output Y = 2 100 4 = 2 × 10 × 2 = 40. Now suppose we are concerned with the relation between output and the number of workers employed. That means that we hold the number of machines constant and study the relation between Y and N . Graphically, we plot Y against N , where N is on the horizontal axis. If we hold K constant at 100, the relation reduces to √ √ √ Y = 2 100 N = 20 N (3) It is shown as the solid curve in Figure 1. If the firm increases the number of workers employed from 4 to 9, the output would increase from 40 to 60. In the graph, the combination of Y and N moves along the solid curve...
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...compressor for use in the company’s paint systems and for a wide variety of other purposes as well. Marge McPhee, who had earned a Bachelor of Mechanical Engineering Degree from Georgia Tech., was recently promoted to her present position in recognition of her strong technical and managerial capabilities. The company employed almost 1,200 persons and had more than $200 million in sales. The marketing department’s sales forecast for the new product, see Table 1, looked promising. The numbers seemed to indicate an upper price limit of $7,500 to $8,000 and a maximum demand of approximately 30 units per week. While the lower weight and size made the new compressor attractive for certain applications, it was less rugged than the standard unit. It also required customers with standard units to carry another set of spare parts. Table 1 Sales Forecast Light Weight Compressor Price* Units per Week $5,500 $6,000 $6,500...
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