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Baye Cover
Managerial Economics and Business Strategy, 4/e
Michael Baye, Indiana University - Bloomington
The Fundamentals of Managerial Economics

Chapter Outline

Headline: Amcott Loses $3.5 Million; Manager Fired

  1. Introduction
    1. The Manager
    2. Economics
    3. Managerial Economics Defined
  2. The Economics of Effective Management
    1. Identify Goals and Constraints
    2. Recognize the Nature and Importance of Profits
      1. Economic Versus Accounting Profits
      2. The Role of Profits
    3. Understand Incentives
    4. Understand Markets
      1. Consumer-Producer Rivalry
      2. Consumer-Consumer Rivalry
      3. Producer-Producer Rivalry
      4. Government and the Market
    5. Recognize the Time Value of Money
      1. Present Value Analysis
      2. Present Value of Indefinitely-Lived Assets
    6. Use Marginal Analysis
      1. Discrete Decisions
      2. Continuous Decisions
      3. Incremental Decisions
  3. Learning Managerial Economics
  4. Answering the Headline
  5. Key Terms and Concepts
  6. Conceptual and Computational Questions
  7. Problems and Applications
  8. Selected Readings
  9. Appendix: The Calculus of Maximizing Net Benefits




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