Business Economics I Glossary
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B. Com. I Business Economics Title.Pmd
HI SHIVAJI UNIVERSITY, KOLHAPUR CENTRE FOR DISTANCE EDUCATION Business Economics (From Academic Year 2013-14) Paper-I For B. Com. Part-I Semester - I KJ Unit-1 Introduction to Business Economics 1.1 Objectives 1.2 Introduction 1.3 Definitions 1.4 Features of Business Economics 1.5 Nature and Scope of Business Economics 1.6 Difference Between Ecnomics and Business Economics 1.7 Business Economics and Decision making 1.8 Business Economics bridges the gap between theoretical 1.9 Objective of business firm 1.10 Glossary 1.11 Questions for Self Study 1.12 Questions for Practice 1.13 Books for Reading 1.1 Objectives 1. To study business economics. GGGGGGGGGGGGGGGGGGGGGGGGG 1 GGGGGGGGGGGGGGGGGGGGGGGGG B.Com.1 - Business Economics (English) 2. To study the nature and scope of business economics. 3. To study importance of business economics in practical market. 4. To understand how firm gets maximum profit. 1.2 Introduction : Business Economics is playing an important role in our daily economic life and business practices. In actual practice different types of business are existing and run by people so study of Business Economics become very useful for businessmen. Since the emergence of economic reforms in Indian economy the whole economic scenario regarding the business is changed. Various new types of businesses are emerged, while taking the business decisions businessmen are using economic tools. Economic theories, economic principles, economic laws, equations economic concepts are used for decision making. On this ground students of commerce should know the importance of basic theories in actual business application. Hence the introduction of Business Economics becomes important to the students. -
Economics.Pdf
Economics 1 ECONOMICS Anne B Royalty Associate Professor G Bryan School of Business and Economics Martin Sparre Andersen Dora GichevaG 462 Bryan Building Christopher Aaron SwannG 336-256-1010 Martijn Van HasseltG http://economics.uncg.edu Assistant Professor Anne Royalty, Department Head Nir Eilam Dora Gicheva, Graduate Program Director Marie C. HullG Sebastian Laumer Mission Timothy Ryan Moreland G The Department of Economics supports the teaching, research, and Matthew Arnold Schaffer service missions of the university and the Bryan School of Business and Senior Lecturer Economics. The department’s undergraduate courses and programs G Jeff K. Sarbaum prepare students for the competitive global marketplace, career and professional development, and graduate education. Its innovative Lecturer graduate programs, the M.A. in Applied Economics and the Ph.D. in Eric S Howard Economics with a focus on applied microeconomics, provide students with a mastery of advanced empirical and analytical methods so they can G Graduate-level faculty conduct high-quality research and contribute to the knowledge base in business, government, nonprofit, and research settings. The department • Economics, B.A. (https://catalog.uncg.edu/business-economics/ conducts high-quality nationally recognized research that supports its economics/economics-ba/) academic programs, promotes economic understanding, and fosters • Economics, B.S. (https://catalog.uncg.edu/business-economics/ economic development in the Triad and in the State. economics/economics-bs/) • Economics Undergraduate Minor (https://catalog.uncg.edu/business- Undergraduate economics/economics/economics-minor/) Economics is a discipline concerned with the choices made by people, • Applied Economics, M.A. (https://catalog.uncg.edu/business- firms, and governments and with public policies that affect those economics/economics/applied-economics-ma/) choices including protection of the environment, the quality and cost of health care, business productivity, inflation and unemployment, poverty, • Economics, Ph.D. -
1 Objective 2 Examples of Cost Functions
BEE1020 { Basic Mathematical Economics Dieter Balkenborg Week 8, Lecture Thursday 28.11.02 Department of Economics Increasing and convex functions University of Exeter 1Objective The ¯rst and the second derivative of a function contain important qualitative information about the graph of a function. The ¯rst derivative of a function measures the steepness of its graph. The second derivative (the derivative of the derivative) measures how \curved" the graph is. We illustrate this and discuss for cost functions what it means in economic terms. 2 Examples of cost functions A function describes how one quantity changes in response to another quantity. An ex- ample is the total cost function of a ¯rm. Consider, for instance, a publisher selling a particular newspaper. His production costs depend on the number of newspapers he prints. This information { together with information on the demand side { will be im- portant if the publisher tries to make a pro¯t out of his business. There are three ways to describe the relation between production costs and the number of newspapers produced: 1. by a table, 2. by a graph, 3. using an algebraic expression to describe the relationship. Here are three examples of types of cost functions frequently used in microeconomics. 2.1 Example 1: Constant marginal costs In tabular form: quantity (in 100.000) 0 1 2 3 4 5 6 7 total costs (in 1000$) 90 110 130 150 170 190 210 230 With the aid of a graph: 220 200 180 160 140 TC120 100 80 60 40 20 0 1234567Q In algebraic form: TC(Q)=90+20Q 2.2 Example 2: Increasing -
A Primer on Profit Maximization
Central Washington University ScholarWorks@CWU All Faculty Scholarship for the College of Business College of Business Fall 2011 A Primer on Profit aM ximization Robert Carbaugh Central Washington University, [email protected] Tyler Prante Los Angeles Valley College Follow this and additional works at: http://digitalcommons.cwu.edu/cobfac Part of the Economic Theory Commons, and the Higher Education Commons Recommended Citation Carbaugh, Robert and Tyler Prante. (2011). A primer on profit am ximization. Journal for Economic Educators, 11(2), 34-45. This Article is brought to you for free and open access by the College of Business at ScholarWorks@CWU. It has been accepted for inclusion in All Faculty Scholarship for the College of Business by an authorized administrator of ScholarWorks@CWU. 34 JOURNAL FOR ECONOMIC EDUCATORS, 11(2), FALL 2011 A PRIMER ON PROFIT MAXIMIZATION Robert Carbaugh1 and Tyler Prante2 Abstract Although textbooks in intermediate microeconomics and managerial economics discuss the first- order condition for profit maximization (marginal revenue equals marginal cost) for pure competition and monopoly, they tend to ignore the second-order condition (marginal cost cuts marginal revenue from below). Mathematical economics textbooks also tend to provide only tangential treatment of the necessary and sufficient conditions for profit maximization. This paper fills the void in the textbook literature by combining mathematical and graphical analysis to more fully explain the profit maximizing hypothesis under a variety of market structures and cost conditions. It is intended to be a useful primer for all students taking intermediate level courses in microeconomics, managerial economics, and mathematical economics. It also will be helpful for students in Master’s and Ph.D. -
Engineering Economics and Decision Analysis Engineering Accounting
Weekend Format – Planned Degree Plan – Engineering Management Cost Per Course: $4,170 (tuition and fees) Credit Hours: 3 hours per course Course Delivery Method: Classroom Pace: Two courses each semester, starting in Fall 2011. No summer courses. Engineering Economics and Decision Analysis Course Number EMIS 8361 Catalog Description Introduction to economic analysis methodology. Topics include engineering economy and cost concepts, interest formulas and equivalence, economic analysis of alternatives, technical rate of return analysis, and economic analysis under risk and uncertainty. (Credit is not allowed for both EMIS 2360 and EMIS 8361.) Goals To improve financial decision making capabilities by learning concepts and techniques of analysis useful in evaluating economic alternatives. Advising Information Excellent business/economics elective Prerequisites Introductory probability Engineering Accounting Course Number EMIS 8362 Catalog Description An introduction to and overview of financial and managerial accounting for engineering management. Topics include basic accounting concepts and terminology; preparation and interpretation of financial statements; and uses of accounting information for planning, budgeting, decision-making, control, and quality improvement. The focus is on concepts and applications in industry today. Goals For the engineering student to: ·Become familiar with the language of business, accounting, so as to understand financial statements and the budget process used by all major organizations. ·Prepare for management duties or interactions through an understanding of the uses of accounting information for planning, controlling, and decision-making Advising Information Good business elective Prerequisites None Management for Engineers Course Number EMIS 8364 Catalog Description How to manage technology and technical functions from a pragmatic point of view. How to keep from becoming technically obsolete as an individual contributor and how to keep the corporation technically astute. -
Economics (ECON) 1
Economics (ECON) 1 Economics (ECON) Courses ECON-100. Financial Literacy. 3 Hours. This course will provide students with an introduction to basic financial literacy. Students will cover the basics of the financial system, including basic banking, investment, budgeting, contracting and debt management. This course will cover both personal finance, small business organization and the relationships between households and businesses in the economy. ECON-109. First Year Experience: Money Matters: The Chicago Economy. 3 Hours. This course is designed to provide students with an introduction to surviving in the Chicago economy. The five foundations of the First Year Experience (Future Planning, Integral Preparation, Research, Self-discovery and Transitions) are interwoven with the introductory field-specific concepts and terminology of economics. Students will be introduced to economic and financial literacy while learning what makes Chicago one of the greatest economic engines in the world. Students will examine the Chicago economy and collect data on major economic sectors in Chicago today with an eye on what it will take for workers, households and businesses to succeed in Chicago's future. ECON-200. Essentials Of Economics. 3 Hours. This course will provide students with an overview of general economic issues, principles and concepts in both microeconomics and macroeconomics. Through its integrated design, students will have the opportunity to analyze individual firms and markets as well as aggregate economic indicators. Topics to be covered include: inflation, unemployment and economic growth, with a focus on the government's role in its attempts to regulate the economy. Upon completion of the course, students will have gained a basic understanding of how people make decisions, how people interact, and how the economy as a whole works so that they may be able to conceptualize how the economy works, make better business decisions and establish a framework for viewing and interpreting the economic world around them. -
Report No. 2020-06 Economies of Scale in Community Banks
Federal Deposit Insurance Corporation Staff Studies Report No. 2020-06 Economies of Scale in Community Banks December 2020 Staff Studies Staff www.fdic.gov/cfr • @FDICgov • #FDICCFR • #FDICResearch Economies of Scale in Community Banks Stefan Jacewitz, Troy Kravitz, and George Shoukry December 2020 Abstract: Using financial and supervisory data from the past 20 years, we show that scale economies in community banks with less than $10 billion in assets emerged during the run-up to the 2008 financial crisis due to declines in interest expenses and provisions for losses on loans and leases at larger banks. The financial crisis temporarily interrupted this trend and costs increased industry-wide, but a generally more cost-efficient industry re-emerged, returning in recent years to pre-crisis trends. We estimate that from 2000 to 2019, the cost-minimizing size of a bank’s loan portfolio rose from approximately $350 million to $3.3 billion. Though descriptive, our results suggest efficiency gains accrue early as a bank grows from $10 million in loans to $3.3 billion, with 90 percent of the potential efficiency gains occurring by $300 million. JEL classification: G21, G28, L00. The views expressed are those of the authors and do not necessarily reflect the official positions of the Federal Deposit Insurance Corporation or the United States. FDIC Staff Studies can be cited without additional permission. The authors wish to thank Noam Weintraub for research assistance and seminar participants for helpful comments. Federal Deposit Insurance Corporation, [email protected], 550 17th St. NW, Washington, DC 20429 Federal Deposit Insurance Corporation, [email protected], 550 17th St. -
Working Paper No
Department of Economics Natural or Unnatural Monopolies in UK Telecommunications? Lisa Correa Working Paper No. 501 September 2003 ISSN 1473-0278 Natural or Unnatural Monopolies In UK ∗ Telecommunications? ≅ Lisa Correa September 2003 ABSTRACT This paper analyses whether scale economies exists in the UK telecommunications industry. The approach employed differs from other UK studies in that panel data for a range of companies is used. This increases the number of observations and thus allows potentially for more robust tests for global subadditivity of the cost function. The main findings from the study reveal that although the results need to be treated with some caution allowing/encouraging infrastructure competition in the local loop may result in substantial cost savings. JEL Classification Numbers: D42, L11, L12, L51, L96, Keywords: Telecommunications, Regulation, Monopoly, Cost Functions, Scale Economies, Subadditivity ∗ The author is indebted to Richard Allard and Paul Belleflamme for their encouragement and advice. She would however also like to thank Richard Green and Leonard Waverman for their insightful comments and recommendations on an earlier version of this paper. All views expressed in the paper and any remaining errors are solely the responsibility of the author. ≅ Department of Economics, Queen Mary, University of London (UK). Preferred e- mail address for comments is [email protected] 1 Natural or Unnatural Monopolies in U.K. Telecommunications? 1. Introduction The UK has historically pursued a policy of infrastructure or local loop competition in the telecommunications market with the aim of delivering dynamic competition, the key focus of which is innovation. Recently, however, Directives from Europe have been issued which could be argued discourages competition in the local loop. -
Returns to Scale and Size in Agricultural Economics
Returns to Scale and Size in Agricultural Economics John W. McClelland, Michael E. Wetzstein, and Wesley N. Musser Differences between the concepts of returns to size and returns to scale are systematically reexamined in this paper. Specifically, the relationship between returns to scale and size are examined through the use of the envelope theorem. A major conclusion of the paper is that the level of abstraction in applying a cost function derived from a homothetic technology within a relevant range of the expansion path may not be severe when compared to the theoretical, estimative, and computational advantages of these technologies. Key words: elasticity of scale, envelope theorem, returns to size. Agricultural economists investigating long-run scale, Euler's theorem, and the form of pro- relationships among levels of inputs, outputs, duction functions. However, the direct link be- and costs generally use concepts of returns to tween returns to size and scale is not devel- scale and size. Econometric studies which uti- oped. Hanoch investigates the elasticity of scale lize production or profit functions commonly and size in terms of variation with output and are concerned with returns to scale (de Janvry; illustrates that only at the cost-minimizing in- Lau and Yotopoulos), while synthetic studies put combinations are the two concepts equiv- of relationships between output and cost uti- alent. Hanoch further provides a proposition lize returns to size (Hall and LaVeen; Rich- stating that Frisch's "Regular Ulta-Passum ardson and Condra). However, as noted by Law" is neither necessary nor sufficient for a Bassett, the word scale is sometimes also used production technology to be associated with to mean size (of a plant). -
Business Economics
BUSINESS ECONOMICS No two economic systems are the same. REQUIRED AND And yet, in today’s global business environment, an ELECTIVE COURSES understanding of how economies operate, and their MAJOR REQUIREMENTS Intermediate Price Theory relationships with one another, is critical. Intermediate Macroeconomics Research in Business Economics The Business Economics major EXPERIENTIAL LEARNING Introduction to Econometrics teaches you how to make sound You can choose to further your Two Economics electives business decisions, such as price classroom knowledge through and output determination, strategic our hands-on learning programs: Three courses within your concentration planning and forecasting. As a corporate partnerships, internships, BUSINESS ECONOMICS Business Economics major, you service–learning and study abroad. ELECTIVES (PARTIAL LIST) will have the flexibility to combine Labor Economics economics with a non-finance By participating in these opportunities, discipline. You may pursue a you will gain valuable real-world Development of Economic Thought concentration in a number of busi- experience, learn about diverse The Economics of Multinational ness areas including: people and perspectives, and gain Corporations new skills for living and working in n Economic analysis Modern Economic Systems a global community. n Entrepreneurship Urban and Regional Economics Environmental Economics n Information technology CAREERS Monetary Economics n International business A Bentley Business Economics Business Forecasting n Law degree provides you with virtually limitless career opportunities. Economics of Regulation and Antitrust n Management Students often begin their careers The Economics of Sports n Marketing in their concentration area, such International Economics If you are interested in a traditional as entrepreneurship or marketing. economics education, the Economic International Economic Growth Their positions might be in the and Development Analysis concentration may be a manufacturing, financial or service Economics of the European Union good fit for you. -
Area13 ‐ Riviste Di Classe A
Area13 ‐ Riviste di classe A SETTORE CONCORSUALE / TITOLO 13/A1‐A2‐A3‐A4‐A5 ACADEMY OF MANAGEMENT ANNALS ACADEMY OF MANAGEMENT JOURNAL ACADEMY OF MANAGEMENT LEARNING & EDUCATION ACADEMY OF MANAGEMENT PERSPECTIVES ACADEMY OF MANAGEMENT REVIEW ACCOUNTING REVIEW ACCOUNTING, AUDITING & ACCOUNTABILITY JOURNAL ACCOUNTING, ORGANIZATIONS AND SOCIETY ADMINISTRATIVE SCIENCE QUARTERLY ADVANCES IN APPLIED PROBABILITY AGEING AND SOCIETY AMERICAN ECONOMIC JOURNAL. APPLIED ECONOMICS AMERICAN ECONOMIC JOURNAL. ECONOMIC POLICY AMERICAN ECONOMIC JOURNAL: MACROECONOMICS AMERICAN ECONOMIC JOURNAL: MICROECONOMICS AMERICAN JOURNAL OF AGRICULTURAL ECONOMICS AMERICAN POLITICAL SCIENCE REVIEW AMERICAN REVIEW OF PUBLIC ADMINISTRATION ANNALES DE L'INSTITUT HENRI POINCARE‐PROBABILITES ET STATISTIQUES ANNALS OF PROBABILITY ANNALS OF STATISTICS ANNALS OF TOURISM RESEARCH ANNU. REV. FINANC. ECON. APPLIED FINANCIAL ECONOMICS APPLIED PSYCHOLOGICAL MEASUREMENT ASIA PACIFIC JOURNAL OF MANAGEMENT AUDITING BAYESIAN ANALYSIS BERNOULLI BIOMETRICS BIOMETRIKA BIOSTATISTICS BRITISH JOURNAL OF INDUSTRIAL RELATIONS BRITISH JOURNAL OF MANAGEMENT BRITISH JOURNAL OF MATHEMATICAL & STATISTICAL PSYCHOLOGY BROOKINGS PAPERS ON ECONOMIC ACTIVITY BUSINESS ETHICS QUARTERLY BUSINESS HISTORY REVIEW BUSINESS HORIZONS BUSINESS PROCESS MANAGEMENT JOURNAL BUSINESS STRATEGY AND THE ENVIRONMENT CALIFORNIA MANAGEMENT REVIEW CAMBRIDGE JOURNAL OF ECONOMICS CANADIAN JOURNAL OF ECONOMICS CANADIAN JOURNAL OF FOREST RESEARCH CANADIAN JOURNAL OF STATISTICS‐REVUE CANADIENNE DE STATISTIQUE CHAOS CHAOS, SOLITONS -
Thesis-Marion T.Pdf
Assessing the long-term attractiveness of mining a commodity based on the structure of its industry by Tanguy Marion B.S. Advanced Sciences, L’Ecole Polytechnique, 2016 MSc. Economics and Strategy, L’Ecole Polytechnique, 2017 Submitted to the Institute for Data, Systems and Society in partial FulFillment of the requirements for the degree oF MASTER OF SCIENCE IN TECHNOLOGY AND POLICY AT THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY JUNE 2019 ©2019 Massachusetts Institute oF Technology. All rights reserved. Signature of Author: Tanguy Marion Institute for Data, Systems and Society Technology and Policy Program May 9, 2019 Certified by: Richard Roth Director, Materials Systems’ Laboratory Research Associate, Materials Systems’ Laboratory Thesis Supervisor Accepted by: Noelle Eckley Sellin Director, Technology and Policy Program Associate Professor, Institute for Data, Systems and Society and Department of Earth, Atmospheric and Planetary Sciences 1 2 Assessing the long-term attractiveness of mining a commodity based on the structure of its industry By Tanguy Marion Submitted to the Institute For Data, Systems and Society in partial FulFillment of the requirements For the degree of Masters of Science in Technology and Policy Abstract. Throughout this thesis, we sought to determine which forces drive commodity attractiveness, and how a general Framework could assess the attractiveness oF mining commodities. Attractiveness can be deFined From multiple perspectives (investor, company, policy-maker, mine workers, etc.), which lead to varying measures oF attractiveness. The scope oF this thesis is limited to assessing attractiveness From an investor’s perspectives, wherein the key perFormance indicators (KPIs) For success are risk and return on investments (ROI). To this end, we have studied the structure oF a mining industry with two concurrent approaches.