Содержание
- 2. Economic theory is great! But how can I apply it in my business???
- 3. Let’s try to bridge the gap between theory and practice !
- 4. Managerial Economics is the application of economic theory to managerial decision making within various organizational settings
- 5. Demand analysis and estimation, production and cost analysis, forecasting and decision making under uncertainty
- 7. The role of firm in society; goals, objectives Explanation of market strategy Comprehension of managerial decisions
- 8. The role of the firm in society
- 10. Primary resources Labour The firm Useful goods or services Society Capital
- 11. Efficiently satisfied needs Profit Engine for economic system =
- 12. Firm’s aspiration for profit secure: Employment Production of demanded goods and services Tax collection Efficient allocation
- 13. Paterns of firm’s behavior ? Aims, objectives?
- 14. Profit maximization model The main goal: maximization of benefits in relation to costs Commercial maximization: profit
- 15. Profit maximization in short term Firm’s value maximization in the long term Сost approach Market approach
- 16. Firm’s value in long term is determined by the flows of future returns Discounted value Risk
- 17. Discounted value conception Basis: compound interest Discounting – the reversal of compounding interest. PV = π/(1+i)
- 18. Reliable future profits => discount rate without risk
- 19. Future profit is not reliable Risk discount rate r = i + risk premium r -
- 20. Future profit flow is changing by years:
- 23. Owner’s fortune maximization Basis – value of a share The profit maximization model => market value
- 24. Fundamental approach to market value of a share evaluation: Capitalized value of a firm per share
- 25. The business axiom: The higher risk the higher profit should be!
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