9780333961117

Managerial Economics for Decision Making

by ;
  • ISBN13:

    9780333961117

  • ISBN10:

    0333961110

  • Format: Paperback
  • Copyright: 2003-06-14
  • Publisher: Palgrave Macmillan
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Supplemental Materials

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Summary

Managerial Economics for Decision Makingplaces managerial economics firmly in the context of decision making and provides readers with the tools to use economic theory to make effective management decisions. It minimizes the use for maths and presents the subject in a user-friendly and accessible way.

Author Biography

John Adams and Linda Juleff are both Lecturers in Economics, Napier University.

Table of Contents

List of figures
List of tables
Preface
Part I The Macroeconomic Environment
Further reading for Part I
Chapter 1 Globalisation
1.1 Introduction
1.2 A Brief History
1.3 What Is Globalisation?
1.4 Measuring Globalisation
1.5 National and Business Implications of Globalisation End of Chapter Summary
References
Answers to Self-Assessment Questions
Chapter 2 The economic environment
2.1 Introduction
2.2 The Economic Framework
2.3 A Simple Model of the Economy
2.4 Using the Model
2.5 The Economic Environment and Business
End of Chapter Summary
Answers to Self-Assessment Questions
Chapter 3 Measuring economic performance
3.1 Introduction
3.2 Measurement of Economic Variables
3.3 Macroeconomic Performance Indicators
3.4 Business and Macroeconomic Performance End of Chapter Summary
Appendix 1 Analysis of the UK's Economic Performance in the Short Run
Appendix 2 Analysis of the UK's Economic Performance in the Long Run References
Answers to Self-Assessment Questions
Part II The Theory of the Firm and Competitive Strategy
Chapter 4 Business objectives
4.1 Introduction
Case Study ConsFirm
4.2 Profit Maximisation
Case Study ConsFirm
4.3 Sales Revenue Maximisation
Case Study ConsFirm
4.4 Sales Volume or Output Maximisation
4.5 Managerial Utility Maximisation
Case Study ConsFirm
4.6 Wealth or Value Maximisation
4.7 Growth Maximisation Models
Case Study ConsFírm
4.8 Behavioural Models of Business Objectives
End of Chapter Summary
References
Answers to Self-Assessment Questions
Chapter 5 Demand estimation and forecasting
5.1 Introduction
5.2 Demand Theory
Case Study Marks & Spencer
5.3 Demand Estimation and Forecasting
5.4 The Marketing Approach to Demand Measurement
5.5 Regression Analysis
Case Study Motorola in Scotland
5.6 Demand Forecasting Techniques
End of Chapter Summary
Answers to Self-Assessment Questions
Chapter 6 Production and cost estimation
6.1 Introduction
6.2 Supply Theory
Case Study easyJet
6.3 Introduction to Production Theory
Case Study easyJet
Case Study A Sample Regression Equation
6.4 Cost Estimation
Case study easyJet
End of Chapter Summary
Answers to self-Assessment Questions
Chapter 7 Pricing in theory and practice
7.1 Introduction
7.2 Pricing and Market Structures
Case Study The Price of Rail Travel
7.3 New Product Pricing
Case Study Penetration Pricing versus Price Skimming
7.4 Pricing in Established Markets
Case Study ASDA
7.5 Specialist Forms of Pricing
7.6 Changing Prices over Time
End of Chapter Summary
Answers to Self-Assessment Questions
Chapter 8 Non-price competition
8.1 Introduction
8.2 Promotion and Advertising
Case Study Advertising by Universities
8.3 Product Policy
Case Study University Product Policy
8.4 Product Distribution and Production Site Location
Case Study 'Place' Decisions for Universities
End of Chapter Summary
Answers to Self-Assessment Questions
Chapter 9 Managerial decisions and the firm's competitive strategy
9.1 Introduction
Case Study Strategic Choices in the Pharmaceutical Industry
9.2 The Firm's Competitive Strategy
9.3 Implementation of the Firm's Competitive Strategy
9.4 The Applicability of Competitive Strategies and Managerial Decision-making Tools to Different Industries
End of Chapter Summary
Reference
Answers to Self-Assessment Questions
Part III Investment Decisions
Further reading for Part III
Chapter 10 Investment appraisal
10.1 Introduction
10.2 The Economic Nature of Investment
10.3 Traditional Techniques
10.4 Discounted Cash Flow Techniques
10.5 Capital Constraint Problems
End of Chapter Summary
Answers to Self-Assessment Questions
Chapter 11 Investment appraisal under risk and uncertainty
11.1 Introduction
11.2 Risk versus Uncertainty
11.3 Risk Assessment Methods
11.4 Probability Analysis in Investment Appraisal
11.5 A Case Study in Risk and Sensitivity Analysis
Case study Alarms R Us
11.6 Investment Decisions under Uncertainty
11.7 Investment Analysis: Implications for Economic Efficiency
End of Chapter Summary
Answers to Self-Assessment Questions
Chapter 12 Public sector decisions
12.1 Introduction
12.2 Market Failure
12.3 Making a Difference?
12.4 Objectives in Public Sector Decision Making
12.5 The Meaning of Value for Money in the Public Sector
12.6 Public Sector Investment
Case Study The 'NEWSITE' Project
End of Chapter Summary
Reference
Answers to Self-Assessment Questions
Appendix Discount tables and the normal distribution table
How to Use the Tables
Index

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