Suchergebnisse

Intro -- _GoBack -- Preface -- Preface to Markets for Managers -- Introduction -- Incentives Matter -- 1.1 Managerial individualism -- 1.2 Demand curves -- 1.3 Elasticity -- Cost and Choice -- 2.1 Opportunity cost -- 2.2 Diminishing marginal returns -- 2.3 Economies of scale -- 2.4 Cost vs. waste -- Market Exchange -- 3.1 Market equilibrium -- 3.2 Comparative statics -- 3.3 Auctions -- 3.4 Information economics -- Prices and Economic Calculation -- 4.1 Entrepreneurship -- 4.2 The firm -- 4.3 Price discrimination -- 4.4 The knowledge problem -- 4.5 Internal markets -- Competition and the Market Process -- 5.1 Market concentration -- 5.2 Collusion -- 5.3 Platforms -- 5.4 Market contestability -- 5.5 Monopoly power -- Capital Theory and Recalculation -- 6.1 Microclimate -- 6.2 Unemployment -- 6.3 Recalculation -- 6.4 Business plan ecology -- Public Finance -- 7.1 Taxation -- 7.2 Bonds -- 7.3 Banking -- 7.4 Saving -- 7.5 National income accounting -- 7.6 Real business cycles -- Monetary Theory -- 8.1 Inflation -- 8.2 Monetary policy -- 8.3 Monetary regimes -- 8.4 Macroeconomic fluctuations -- Fiscal Policy -- 9.1 The Great Depression -- 9.2 Fiscal stimulus -- 9.3 Austerity -- 9.4 Laissez-faire -- 9.5 The Phillips curve -- International Economics -- 10.1 Globalization and trade theory -- 10.2 Balance of payments -- 10.3 Foreign exchange markets -- 10.4 Currency regimes -- Behavioural Economics -- 11.1 Behavioural anomalies -- 11.2 Market efficiency -- Global Prosperity -- 12.1 Growth theory -- 12.2 Happiness -- 12.3 Economic freedom -- 12.4 Public Choice theory -- 12.5 Transition economics -- References -- Index -- Blank Page.

Offering a broad overview of the many ways in which Managerial Economicsaffects decision making, this book provides the key tools that managers need to think like economists. With a readable style it brings to life the major contributions in economics, and some of the most important debates. It offers readers the chance to understand how markets really work, and how they fail. Most importantly, it shows you how to utilise markets on a day to day basis.

AbstractThe natural rate of interest, also known as R*, is a central concept for many monetary economists. Although policymakers and commentators make judgements based on an implicit belief regarding its value, attempts to measure it are quite rare. This article uses productivity data to estimate the natural rate for the UK economy during 1998–2018. It finds that the median real natural rate up to and including 2008:2 was 2.11 per cent and has been 1.9 per cent since then. This supports the view that the natural rate can change over time and has fallen in recent years. Policymakers who use the natural rate as a benchmark should therefore monitor this more closely.

AbstractA recent paper Bank of England paper cast doubt on the 'textbook' model of the money multiplier. However, this criticism is inconsistent and misleading. It understates the importance of the central bank's control over the monetary base, and how this influences the money supply. The confusion suggests that it would be more fruitful to conduct analysis using the currency‐deposit ratio and reserve‐deposit ratio rather than the money multiplier, and evidence from 1998–2013 is provided. This article explains how these ratios depend on the monetary regime, and the distinction between inside and outside money. Although a modern regime alters the way that money creation occurs, the monetary base still matters.

This article outlines an approach to social change that bridges epistemic choice with cultural institutions. It integrates recent incorporations of cognition and belief systems into economics, (North, 2005), with "Cultural Theory" to present specific ideal type strategies of action. The conflict between these cultural biases and actual events provides a mechanism for social change ("surprise"), and this is discussed in contrast to Bayesian updating. Recent empirical papers are discussed in light of the above (particularly in the fields of economic development, theories of the firm, and capital theory).

Contemporary economic commentators have a habit of dismissing Austrian business cycle theory on the grounds that the implications for policy responses are unconvincing. Often the 'Austrian' position is misunderstood. But even if we wish to draw on other schools of thought to understand depressions, this does not affect the importance of Austrian insights to explain the boom.