Managerial Economics summary

Foreword

  Self seemingly every newspaper has a lot of subjects, are too busy to learn. Because see, however knowledge is too big, I just white for Self Alexander. But Alexander did not use any eggs have been reported to not back down, only to correct their own learning attitude, a good school to get away. Not the phrase say it like this, despite the efforts you, the other to God. I remember the teacher said, learning about the Self is to enjoy the whole process, in fact, the result is not very important, this sentence I still memorable.

basic understanding:

  Managerial Economics papers difficult this exam is the first that must be mastered: the
  difficulty is divided into: easy, easier, more difficult, difficult is the ratio (2: 3: 3: 2) relationship.
  Exam questions are divided into: radio, short answer, calculations, the last one is the case of questions. Understanding of these distributions, the follow-up study can grasp the topic and the type.

FIG guiding section

introduction

   Managerial economics and decision science theory is the use of economic analysis tool, it is a business organization can in certain economic environments, under various constraints facing most effectively to achieve their stated objectives of science.

• Managerial Economics is the study of management decisions and resource allocation issues related.
• Management economics to economic theory and decision-making tools for the analysis tool.

The basic decision-making process of
   managerial economics is to solve issues related to management decisions and rational allocation of resources, mainly the production decisions and pricing decisions.

Corporate decision-making process in five basic steps:

1. Clear problem facing businesses

2. Determining business goals;

3. List of possible ways to solve business problems;

4. Choose the best program from solutions listed;

5. The implementation of the optimal solution.

Conditions right decisions include:

1. Clear decision-making goal
2. Higher quality of decision-makers
3. More adequate decision-making information materials
4. Scientific theory and distribution

Microeconomics:
  Economic Behavior by studying a single economic unit (including businesses, households, consumers, markets) and the interaction between them, which illustrate how the market economy to solve the issue of resource allocation.
  Center for Theoretical microeconomics theory is the price

Difference of Economics and Management of microeconomics:

• Different purposes
• Different research methods
• Assume different conditions

The main content management economics:

1. Demand theory,
2. Production theory,
3. Cost theory,
4. Market Theory

Fundamental analysis approach to managing economic
 optimization analysis is a major issue when the management economics management decisions is the basic analytical methods.
 Optimization of hope with minimal investment for maximum output.
 The optimization problem can be divided into unconstrained optimization problems and constrained optimization problem.

Analysis tools can use mathematical optimization problem:

marginal and marginal analysis
 awareness margin (Margin) is: "incremental" (Increment), ie "changes in certain variables." Marginal analysis is the use of marginal value as a method of decision making is based.

For example: a manned aircraft, the original ticket price $ 500, is now ready to take off, but there is a lot of space inside the cabin, then came a customer said to 350.

• Marginal cost: the additional costs become marginal cost marginal analysis method.
• Marginal benefits: additional revenue called marginal revenue.

Management used the marginal value of economics are:

• Marginal production = total amount of change / variation of a factor inputs
• Marginal revenue = total revenue variation / productivity variation
• Total Cost = Cost marginal variation / change in Production
• Gross profit margin = variation / productivity variation = marginal revenue - marginal cost

the second part:

The concept of business
  enterprise is an economic entity, in terms of profits for the purpose of organizing the various factors of production through conversion, to provide products or services to consumers or other economic entity enterprise.

Enterprise features

In a market economy, enterprises are the most important market activities of the body. As the body must have the following characteristics:

1. Companies must make their own decisions. - respond to market signals sensitively and quickly make the right business decisions based on market changes.
2. Enterprises must be self-financing. - self-financing business in order to become independent of the stakeholders, in order to actively adjust their production and operate in accordance with market changes driven by material interests.
3. Property rights of enterprises must be clear. - the effective use of real property enterprises will concern property owners, the self-management and self-financing to the letter.

  Business objectives in economic activity: the pursuit of corporate value maximization
  decisions of business problems: under various constraints, how to make a particular business to maximize value.

Profit enterprise
  accounting profit companies have achieved sales revenue minus the fees on the accounting records have occurred) (ie accounting cost) difference. Accounting costs are explicit costs, the enterprise is engaged in an economic activity, spending, business spending that is the actual purchase or hire of factors of production, it can be found from the accounting account.
  Enterprise economic profit is the basis for business decisions

Opportunity cost
  opportunity cost is defined as an economic resource due for a particular purpose and give up the most profitable economic resources in use for other purposes might get.
Example: There are three operating cooking, typing along, the teacher below correspond ABC, C choose to do the job, then select from a large inside is __________.
A, 100 membered B, 200 membered C, 300 membered

Important corporate decision-making
  decision-making is a variety of possible options to achieve the goal of making choices. As long as there is need to select decisions. The production and operation process is the decision-making process

Explore the economics of enterprise management decision problems mainly in the following three aspects:
1. whom to produce, what to produce.
2. How much production.
3. how to produce the most economical.

The gradual accumulation of excellence.