Managerial economics

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

The crumbling of apartheid: An application of managerial economics

Abstract: The thesis of this examination of Apartheid in the Republic of South Africa is that the sophistication of capital structure, whether viewed macro-economically or at the level of the firm, passes nigh-irrestible power to even unorganized workers. This non-Marxist social system model is empirically substantiated by South African economic history but, more particularly, from managerial decisions in respect of the production function – especially in the critical gold-mining industry – over time. This leads to the logical conclusion that the dynamic intensification of foreign capital investment in the Republic alone can end that country's system of Apartheid.

The Applications of Game Theory and Its Contributions to Economics

Abstract: In just a few decade development processes, game theory, with its innovative ideas, strong economic analysis tools, and complete and rigorous system, has brought new vigor to the economics, and managed to reinterpret some traditional economic theory more reasonably, and let economists have the ability to explore some new areas. This paper summarizes and analyses the application of game theory in the socio-economic analysis and its contribution to economics. The assortment and study of economic game theory not only is beneficial to further understand the essence and the process of the development of this field, but also provide ideas and reference for the future development of it.

Mainstream Economics in the Early 21st Century: What, How and How Far

Abstract: This essay defines economics as a social science characterized by a particular and evolving way of thinking, and explores its scope and limitations. It is argued that economics has a strong normative nature and that it is ideological by construction. Thus, economics is better suited to improve our understanding of economic phenomena, contribute to solve better current problems and generate a sufficiently large and lasting consensus, than to prove anything for sure. Some reasons for persistent differences among economists are trade-offs, problems measuring economic variables and deficient definitions for key concepts. Thus, economics education should seek constructing explicitly the economics way of thinking and maintaining focus on optimal policy intervention, while its practice should aim at clarity, transparency, tractability, consistency, replicability, applicability, relevance and responsibility.