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Managerial Economics.

Bibliographic Details
Main Author: McGuigan, James.
Other Authors: Moyer, R. Charles., Harris, Frederick H. deB.
Format: eBook
Language:English
Published: Mason, OH : Cengage, 2017.
Edition:14th ed.
Subjects:
Managerial economics..
Managerial economics-Problems, exercises, etc.
Electronic books.
Online Access:View fulltext via EzAccess
Table of Contents:
  • Cover
  • Contents
  • Preface
  • About the Authors
  • Part 1: Introduction
  • Chapter 1: Introduction and Goals of the Firm
  • Chapter Preview
  • Managerial Challenge: How to Achieve Sustainability: Southern Company Electric Power Generation
  • 1-1 What Is Managerial Economics?
  • 1-2 The Decision-Making Model
  • 1-2a The Responsibilities of Management
  • What Went Right/What Went Wrong: Saturn Corporation
  • 1-2b Moral Hazard in Teams
  • 1-3 The Role of Profits
  • 1-3a Risk-Bearing Theory of Profit
  • 1-3b Temporary Disequilibrium Theory of Profit
  • 1-3c Monopoly Theory of Profit
  • 1-3d Innovation Theory of Profit
  • 1-3e Managerial Efficiency Theory of Profit
  • 1-4 Objective of the Firm
  • 1-4a The Shareholder Wealth-Maximization Model of the Firm
  • 1-5 Separation of Ownership and Control: The Principal-Agent Problem
  • 1-5a Divergent Objectives and Agency Conflict
  • 1-5b Agency Problem
  • 1-6 Implications of Shareholder Wealth Maximization
  • What Went Right/What Went Wrong: Eli Lilly Depressed by Loss of Prozac Patent
  • 1-6a Caveats to Maximizing Shareholder Value
  • 1-6b Residual Claimants
  • 1-6c Goals in the Public Sector and Not-for-Profit Enterprises
  • 1-6d Not-for-Profit Objectives
  • 1-6e The Efficiency Objective in Not-for-Profit Organizations
  • Summary
  • Exercises
  • Case Exercise: Designing a Managerial Incentives Contract
  • Case Exercise: Shareholder Value of Renewable Energy from Wind Power at Hydro Co.: Is RE &lt
  • C
  • Chapter 2: Fundamental Economic Concepts
  • Chapter Preview
  • Managerial Challenge: Why Charge 25 per Bag on Airline Flights?
  • 2-1 Demand and Supply: A Review
  • 2-1a The Diamond-Water Paradox and the Marginal Revolution
  • 2-1b Marginal Utility and Incremental Cost Simultaneously Determine Equilibrium Market Price
  • 2-1c Individual and Market Demand Curves.
  • 2-1d The Demand Function
  • 2-1e Import-Export Traded Goods
  • International Perspectives: Exchange Rate Impacts on Demand: Cummins Engine Company
  • 2-1f Individual and Market Supply Curves
  • 2-1g Equilibrium Market Price of Gasoline
  • 2-2 Marginal Analysis
  • 2-2a Total, Marginal, and Average Relationships
  • 2-3 The Net Present Value Concept
  • 2-3a Determining the Net Present Value of an Investment
  • 2-3b Sources of Positive Net Present Value Projects
  • 2-3c Risk and the NPV Rule
  • 2-4 Meaning and Measurement of Risk
  • 2-4a Probability Distributions
  • 2-4b Expected Values
  • 2-4c Standard Deviation: An Absolute Measure of Risk
  • 2-4d Normal Probability Distribution
  • 2-4e Coefficient of Variation: A Relative Measure of Risk
  • What Went Right/What Went Wrong: Long-Term Capital Management (LTCM)
  • 2-5 Risk and Required Return
  • Summary
  • Exercises
  • Case Exercise: Revenue Management at American Airlines
  • Part 2: Demand and Forecasting
  • Chapter 3: Demand Analysis
  • Chapter Preview
  • Managerial Challenge: Health Care Reform and Cigarette Taxes
  • 3-1 Demand Relationships
  • 3-1a The Demand Schedule Defined
  • 3-1b Constrained Utility Maximization and Consumer Behavior
  • What Went Right/What Went Wrong: Chevy Volt
  • 3-2 The Price Elasticity of Demand
  • 3-2a Price Elasticity Defined
  • 3-2b Interpreting the Price Elasticity: The Relationship between the Price Elasticity and Sales Revenue
  • 3-2c The Importance of Elasticity-Revenue Relationships
  • 3-2d Factors Affecting the Price Elasticity of Demand
  • International Perspectives: Free Trade and the Price Elasticity of Demand: Nestlé Yogurt
  • 3-3 The Income Elasticity of Demand
  • 3-3a Income Elasticity Defined
  • 3-4 Cross Elasticity of Demand
  • 3-4a Cross Price Elasticity Defined
  • 3-4b Interpreting the Cross Price Elasticity.
  • 3-4c Antitrust and Cross Price Elasticities
  • 3-4d An Empirical Illustration of Price, Income, and Cross Elasticities
  • 3-5 The Combined Effect of Demand Elasticities
  • Summary
  • Exercises
  • Case Exercise: Polo Golf Shirt Pricing
  • Case Exercise: Fifty Years of Sales Maximization at Volkswagen
  • Chapter 4: Estimating Demand
  • Chapter Preview
  • Managerial Challenge: Demand for Whitman's Chocolate Samplers
  • 4-1 Statistical Estimation of the Demand Function
  • 4-1a Specification of the Model
  • 4-2 A Simple Linear Regression Model
  • 4-2a Assumptions Underlying the Simple Linear Regression Model
  • 4-2b Estimating the Population Regression Coefficients
  • 4-3 Using the Regression Equation to Make Predictions
  • 4-3a Inferences about the Population Regression Coefficients
  • 4-3b Correlation Coefficient
  • 4-3c The Analysis of Variance
  • 4-4 Multiple Linear Regression Model
  • 4-4a Use of Computer Programs
  • 4-4b Estimating the Population Regression Coefficients
  • 4-4c Using the Regression Model to Make Forecasts
  • 4-4d Inferences about the Population Regression Coefficients
  • 4-4e The Analysis of Variance
  • Summary
  • Exercises
  • Case Exercise: Soft Drink Demand Estimation
  • Chapter 4A: Problems in Applying the Linear Regression Model
  • 4A-1 Introduction
  • 4A-1a Autocorrelation
  • 4A-1b Heteroscedasticity
  • 4A-1c Specification and Measurement Errors
  • 4A-1d Multicollinearity
  • 4A-1e Simultaneous Equation Relationships and the Identification Problem
  • 4A-2 Nonlinear Regression Models
  • 4A-2a Semilogarithmic Transformation
  • 4A-2b Double-Log Transformation
  • 4A-2c Reciprocal Transformation
  • 4A-2d Polynomial Transformation
  • Summary
  • Exercises
  • Chapter 5: Business and Economic Forecasting
  • Chapter Preview
  • Managerial Challenge: Excess Fiber Optic Capacity at Global Crossing Inc.
  • 5-1 The Significance of Forecasting
  • 5-2 Selecting a Forecasting Technique
  • 5-2a Hierarchy of Forecasts
  • 5-2b Criteria Used to Select a Forecasting Technique
  • 5-2c Evaluating the Accuracy of Forecasting Models
  • What Went Right/What Went Wrong: Crocs Shoes
  • 5-3 Alternative Forecasting Techniques
  • 5-4 Deterministic Trend Analysis
  • 5-4a Components of a Time Series
  • 5-4b Some Elementary Time-Series Models
  • 5-4c Secular Trends
  • 5-4d Seasonal Variations
  • 5-5 Smoothing Indicators
  • 5-5a Moving Averages
  • 5-5b First-Order Exponential Smoothing
  • 5-6 Barometric Techniques
  • 5-6a Leading, Lagging, and Coincident Indicators
  • 5-7 Survey and Opinion-Polling Techniques
  • 5-7a Forecasting Macroeconomic Activity
  • 5-7b Sales Forecasting
  • 5-8 Macroeconometric Models
  • 5-8a Advantages of Econometric Forecasting Techniques
  • 5-8b Single-Equation Models
  • 5-8c Multi-Equation Models
  • 5-8d Consensus Forecasts: Livingston and Blue Chip Forecaster Surveys
  • 5-9 Forecasting with Input-Output Tables
  • International Perspectives: Long-Term Sales Forecasting by General Motors in Overseas Markets
  • 5-10 Advanced Material: Stochastic Time-series Analysis
  • Summary
  • Exercises
  • Case Exercise: Cruise Ship Arrivals in Alaska
  • Case Exercise: Lumber Price Forecast
  • Case Exercise: Forecasting in the Global Financial Crisis
  • Chapter 6: Managing in the Global Economy
  • Chapter Preview
  • Managerial Challenge: The Role of the FX Rate in Assessing Foreign Business Opportunity
  • 6-1 Introduction
  • What Went Right/What Went Wrong: Export Market Pricing at Toyota
  • 6-2 Import-Export Sales and Exchange Rates
  • 6-2a Foreign Exchange Risk
  • International Perspectives: Collapse of Export and Domestic Sales at Cummins Engine
  • 6-3 Outsourcing
  • 6-4 China Trade Blossoms
  • 6-4a China Today.
  • 6-5 The Market for U.S. Dollars as Foreign Exchange
  • 6-5a Import-Export Flows and Transaction Demand for a Currency
  • 6-5b The Equilibrium Price of the U.S. Dollar
  • 6-5c Speculative Demand, Government Transfers, and Coordinated Intervention
  • 6-5d Short-Term Exchange Rate Fluctuations
  • 6-6 Determinants of Long-Run Trends in Exchange Rates
  • 6-6a The Role of Real Growth Rates
  • 6-6b The Role of Real Interest Rates
  • 6-6c The Role of Expected Inflation
  • 6-7 Purchasing Power Parity
  • 6-7a PPP Offers a Better Yardstick of Comparative Size of Business Activity
  • What Went Right/What Went Wrong: Big Box U.S. Retailers in China
  • 6-7b Relative Purchasing Power Parity
  • 6-7c Qualifications of PPP
  • 6-7d The Appropriate Use of PPP: An Overview
  • What Went Right/What Went Wrong: GM, Toyota, and the Celica GT-S Coupe
  • 6-7e Trade-Weighted Exchange Rate Index
  • 6-8 International Trade: A Managerial Perspective
  • 6-8a Shares of World Trade and Regional Trading Blocs
  • 6-8b Comparative Advantage and Free Trade
  • 6-8c Import Controls and Protective Tariffs
  • 6-8d The Case for Strategic Trade Policy
  • 6-8e Increasing Returns
  • 6-8f Network Externalities
  • 6-9 Free Trade Areas: The European Union and NAFTA
  • 6-9a Optimal Currency Areas
  • 6-9b Intraregional Trade
  • 6-9c Mobility of Labor
  • 6-9d Correlated Macroeconomic Shocks
  • 6-10 Largest U.S. Trading Partners: The Role of NAFTA
  • 6-10a A Comparison of the EU and NAFTA
  • 6-10b Gray Markets, Knockoffs, and Parallel Importing
  • What Went Right/What Went Wrong: Ford Motor Co. and Exide Batteries: Are Country Managers Here to Stay
  • 6-11 Perspectives on the U.S. Trade Deficit
  • Summary
  • Exercises
  • Case Exercise: Predicting the Long-Term Trends in Value of the U.S. Dollar and the Euro
  • Case Exercise: Elaborate the Debate on NAFTA.
  • Chapter 6A: Foreign Exchange Risk Management.

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