Managerial economics

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

Teaching Managerial Economics with a Computer Simulation Model.

Abstract: A number of fundamental concepts in managerial economics can be introduced to students through the use of a computer simulation model The model described here emphasizes such basic microeconomic ideas as the formulation of demand and cost functions, determination of profit-maximizing price and output levels, and calculation of various demand elasticity measures The model also introduces the student to problems of uncertainty, forecasting, inventory and production planning, and budgeting The computer program consists of two parts Both parts relate to a single firm producing one product Part A, the General Program, generates data for as many periods as the user may specify Part B, the Student Program, allows the student to make production, inventory, advertising, and pricing decisions on a period-to-period basis What exactly can a student learn by using this computer program? In order to answer this question, we will first examine the Student Program in terms of the economic concepts that are developed therein

The Need for a Dynamic Economics

Abstract: It seems appropriate to take over from mechanics the dichotomy of statics and dynamics. The word statics has already been familiarly used with reference to one part of economics; dynamics less so.1 It is often used in a way that does not correspond to the dichotomy of mechanics.

Efficiency in the Economics of Management and Ways to Improve it

Abstract: The paper presented the analyses of one of the enigmas as set forth by the managerial economics. In analysing it, the paper formulated ways of resolving the enigma. The paper developed the theorem, which uncovered the essence of the two-dimensional measuring the indicators of the balanced economic growth in a developing economy. The outcomes of the analyses, carried out by the study, are expected to put a halt to the ineffective and inefficient use of natural material, capital and labour resources in any given developing economy. To that end, the results of the analyses will help open up the path leading to the effective green economy and will help maximize on the cost saving in the use of natural resources. The findings of the analyses will contribute to the development of the managerial economics and will be essential assets in measuring the balanced economic growth in developing countries. The novice of the paper is that the solution to the problem set as explained in this paper has ever been uncovered before.