Managerial economics

About: Managerial economics is a research topic. Over the lifetime, 1524 publications have been published within this topic receiving 83965 citations.

The Conceptual Framework of Information Economics

Abstract: Information economics is a new system of economics, overriding the classical school of economics, and at the same time it is a future economics. Three basic concepts of economics constitute the framework of information economics. The first of them is the spirit of giobalism-the ideas of spaceship, quality of time, and coexistentialism. The second is information productivity. The development of computer and communication technologies has made posible mass production of objective-oriented, logical, normative information. The third is time value-a new view of values. By time value is meant the value that is created through objective-oriented utilization of free time at the disposal of human beings. Just as each new theory of economics has a new vision, information economics has a vision-Global Futualization Society as the society where a large variety of voluntary communities will flourish on a global scale at a time, and the individual will seek to realize self-actualization in each community.

The place of economic history in the discipline of economics

Abstract: Despite the dominance of the field of economic history by trained economists who use the tools of economics, the output and services of economic historians are declining in demand. The explanation advanced in this address is that economic historians have not proved their value to economics. To play an essential role in economics, we must broaden the questions we ask and concommittently devise a set of theoretical tools to provide meaningful and testable theories about the structure and performance of economies over time. This address suggests the direction that such theory should take in order to make the field an indispensable part of the discipline of economics.

A methodology to measure the degre of managerial innovation

Abstract: Purpose: The main objective of this study is to introduce the concept of managerial innovation and to propose a quantitative methodology to measure the degree of managerial innovation capability by analyzing the evolution of the techniques used for management functions. Design/methodology/approach : The methodology mainly focuses on the different techniques used for each management functions namely; Planning, Organizing, Leading, Controlling and Coordinating. These functions are studied and the different techniques used for them are listed. Since the techniques used for these management functions evolve in time due to technological and social changes, a methodology is required to measure the degree of managerial innovation capability. This competency is measured through an analysis performed to point out which techniques used for each of these functions. Findings: To check the validity and applicability of this methodology, it is implemented to a manufacturing company. Depending on the results of the implementation, enhancements are suggested to the company for each function to survive in the changing managerial conditions Research limitations/implications: The primary limitation of this study is the implementation area. Although the study is implemented in just a single manufacturing company, it is welcomed to apply the same methodology to measure the managerial innovation capabilities of other manufacturing companies. Moreover, the model is ready to be adapted to different sectors although it is mainly prepared for manufacturing sector. Originality/value: Although innovation management is widely studied, managerial innovation is a new concept and introduced to measure the capability to challenge the changes occur in managerial functions. As a brief this methodology aims to be a pioneer in the field of managerial innovation regarding the evolution of management functions. Therefore it is expected to lead more studies to inspect the progress of change throughout the history and the future trends.

Employment and Economic Insecurity: A Commonsian Perspective

Abstract: The principal concern of this paper is with the need of a theoretical shift in economics for analyzing and devising efficient and innovative policy reforms to combat employment insecurity. Mainstream economics is unable to provide appropriate theorizing about economic phenomena, including economic insecurity. Thus, we must turn to economic theories which radically question the dominant paradigm in economics. John Rogers Commons's institutionalist theory accomplishes that. First, the author of this paper outlines the distinctive character of this theory by presenting some of its crucial methodological differences with neoclassical economics. Second, she explains how economic insecurity is conceptualized as an "instituted" process with this theory of institution. A better mastery of this specific school of thought in economics appears to escape the problems met by mainstream economics by proposing a real theoretical alternative for the development of a truly evolutionary, trans-disciplinary and ethical economic theory.