Suchergebnisse

1. Introduction to managerial economics -- 2. Key measures and relationships -- 3. Demand and pricing -- 4. Cost and production -- 5. Economics of organization -- 6. Market equilibrium and the perfect competition model -- 7. Firm competition and market structure -- 8. Market regulation -- Notes -- References -- Index

Economic principles inform good business decision making. Although economics is sometimes dismissed as a discourse of practical relevance to only a relatively small circle of academicians and policy analysts who call themselves economists, sound economic reasoning benefits any manager of a business, whether they are involved with production and operations, marketing, finance, or corporate strategy. Along with enhancing decision making, the field of economics provides a common language and framework for comprehending and communicating phenomena that occur within a business, as well as between a business and its environment.

Executives and managers hear or read headlines about recent economic data nearly every business day. Most important economic statistics are the products of programs designed to collect and analyze data to report summary results at regular intervals. Properly interpreted, these economic indicators provide useful barometers for different aspects of the economy and identify trends that aid better planning decisions. Economic indicators are available at the national level, state level, and even the regional and municipal levels. This text focuses on economic indicators for the overall U.S. economy, identifying major categories of economic indicators and describing the key indicators in each of the categories. Most key economic indicators are reported promptly on the Internet and are provided as formatted time series that can be readily downloaded and analyzed. This text will include links to the sources for key economic indicators, as well as websites that maintain calendars of upcoming announcements and consensus forecasts of the indicators shortly prior to a formal announcement.

Managers and analysts routinely collect and examine key performance measures to better understand their operations and make good decisions. Being able to render the complexity of operations data into a coherent account of significant events requires an understanding of how to work well with raw data and to make appropriate inferences. Although some statistical techniques for analyzing data and making inferences are sophisticated and require specialized expertise, there are methods that are understandable and applicable by anyone with basic algebra skills and the support of a spreadsheet package. By applying these fundamental methods themselves rather than turning over both the data and the responsibility for analysis and interpretation to an expert, managers will develop a richer understanding and potentially gain better control over their environment. This text is intended to describe these fundamental statistical techniques to managers, data analysts, and students. Statistical analysis of sample data is enhanced by the use of computers. Spreadsheet software is well suited for the methods discussed in this text. Examples in the text detail for the reader how to apply Microsoft Excel.

Executives and managers hear or read headlines about recent economic data nearly every business day. Most important economic statistics are the products of programs designed to collect and analyze data to report summary results at regular intervals. Properly interpreted, these economic indicators provide useful barometers for different aspects of the economy and identify trends that aid better planning decisions. Economic indicators are available at the national level, state level, and even the regional and municipal levels. This text focuses on economic indicators for the overall U.S. economy, identifying major categories of economic indicators and describing the key indicators in each of the categories. Most key economic indicators are reported promptly on the Internet and are provided as formatted time series that can be readily downloaded and analyzed. This text will include links to the sources for key economic indicators, as well as websites that maintain calendars of upcoming announcements and consensus forecasts of the indicators shortly prior to a formal announcement.

Managers and analysts routinely collect and examine key performance measures to better understand their operations and make good decisions. Being able to render the complexity of operations data into a coherent account of significant events requires an understanding of how to work well in the electronic environment with raw data. Although some statistical and financial techniques for analyzing data are sophisticated and require specialized expertise, there are methods that are understandable by and applicable to anyone with basic algebra skills and the support of a spreadsheet package. While specialized software packages may be used in a particular business setting, Microsoft Excel is routinely available on computer desktops. Managers who have been in the field any length of time may not be sufficiently familiar with the capabilities of Excel to make optimal use of its functionalities. Prior to undertaking a program to pursue executive training, managers who are refreshed with basic algebra skills and the capabilities of Excel will be prepared to develop a richer understanding from their more advanced work.