Managerial economics

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

Economic Approaches to Housing Research

Abstract: Housing has increased in importance as a field of applied economics, particularly in the past decade. Housing is a complex commodity, which means it presents considerable analytical challenges to economists. Simple models have limited applicability. Over time, economics has increasingly emphasised formalism, although this has changed a little recently. Unless care is taken, formalism can lead to method, rather than ontology, being the starting point of analysis. Yet economic schools of thought differ at an ontological level. This carries implications for understanding of achievable knowledge and appropriate methods. Key areas of difference between economic approaches include their assumptions about the nature of social systems and their treatment of time, uncertainty, and knowledge acquisition. Housing economics has been dominated by mainstream economic approaches that are methodologically individualist and focus upon rational decision-making in the face of constraints. Behavioural economics modifies the model of decision-making underpinning the analysis by introducing ideas from psychology. It has attracted considerable attention in the past decade. Institutional economics comes in both old and new varieties. New institutionalism has much in common with mainstream economics, but old institutionalism has very different ontological foundations. The application of these different economic approaches to housing issues is briefly reviewed.

A method of enhancing managerial effectiveness and organizational sustainability

Abstract: Cognitive topology is a business methodology enhancing managerial effectiveness and organizational sustainability. It is a system of cognitive indicators, which enables an organization to form managerial goals, initiate strategic changes and optimize managerial/organizational performance. This is achieved by determining the level of compatibility between the activities going in three main managerial perspectives human relations, work environment and managerial processes, on the one hand, and the particulars of the business situation, on the other hand. Behavioral features and characteristics are assigned a key place in creating Cognitive topology. They are the methodological nucleus, which enables the formation of managerial competencies and approaches that lead to optimal behavior and sustainable outcomes in business.

Teaching Managerial Economics with Problems Instead of Models

Abstract: In this chapter, we address the problems of teaching microeconomic principles to business students We describe the peculiar features of student demand that make teaching economics using a model-based pedagogy unsuccessful We conclude that a problem-solving pedagogy is a better way to satisfy student demand for business education