|Author :||Jae K. Shim, Ph.D., CPA|
|CPE Credits :||11.0|
|IRS Credits :||0|
|Passing Score :||70%|
|Course Type:||NASBA QAS - Text - Technical - NASBA Registry|
|Primary Subject-Field Of Study:||
Economics - Economics for Course Id 892
This course provides a clear and concise introduction to managerial economics. The course managerial economics is offered in a variety of titles including business economics, economic analysis for business decisions, economics for management decisions, etc. at both the undergraduate and graduate levels.
|Usage Rank :||0|
|Experience Level :||Overview|
|Additional Contents :||Complete, no additional material needed.|
|Additional Links :|
|Advance Preparation :||None.|
|Delivery Method :||Self-Study|
|Intended Participants :||Anyone needing Continuing Professional Education (CPE).|
|Revision Date :||26-Nov-2019|
|NASBA Course Declaration :||Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.|
|Approved Audience :||
NASBA QAS - Text - Technical - NASBA Registry - 892
|Keywords :||Economics, Economic, Analysis, Business, Strategic, Decisions, Managerial, Economics, 2015, cpe, cpa, online course|
|Learning Objectives :||
2. Recognize the difference between value maximization and profit maximization.
3. Identify profit-making motives for companies.
4. Recognize how marginal analysis is used for business decisions.
2. Recognize the characteristics of a mathematical concepts in optimization techniques.
3. Recognize different goals for economic optimization.
2. Identify examples of complementary goods.
3. Recognize the uses for the point price elasticity concept.
4. Identify how factors, such as technology, change the supply curve.
2. Identify methods for predicting how buyers might respond to product changes.
3. Recognize different terms used in quantitative demand analysis.
4. Identify how some of the problems in estimating demand.
2. Identify how econometric forecasting methods are constructed.
3. Recognize lagging and leading barometric forecasting economic indicators.
4. Identify characteristics of input-output analysis.
2. Recognize output and input relationships under the law of diminishing returns.
3. Identify the purpose of an expansion path in illustrating relationships between capital and labor.
2. Define the objective function.
3. Identify implications of different slack variables.
4. Recognize applications for linear programming.
5. Define the isoprofit curve.
2. Recognize how incremental (differential) costs vary with business decisions.
3. Identify the costs most relevant to managerial decisions.
4. Identify examples of the learning curve effect.
5. Define a cost-volume-profit (CVP) analysis.
2. Recognize attributes for firms in a monopolistic competitive industry.
3. Define the concentration ratio used to determine monopolistic behavior.
2. Determine optimal pricing based on price elasticity.
3. Identify examples of peak load pricing.
4. Recognize pricing policies used during initial product launches.
2. Define the cost of capital for a firm.
3. Identify how to determine the post-audit review values.
2. Recognize factors and attributes involved in risk.
3. Identify the purpose of the decision tree.
2. Identify departments within the federal government responsible for enforcing antitrust regulations and the powers they use to enforce the regulations.
|Course Contents :||
Chapter 1: The Fundamentals of Managerial Economics
The Management Decision Making Process
Profit Maximization and Marginal Analysis
Chapter 1 Review Questions
Chapter 2: Optimization Techniques
Lagrangean Multiplier Technique
Marginal Analysis versus Incremental Analysis
Chapter 2 Review Questions
Chapter 3: Market Forces: Demand and Supply
Demand and Revenue
Elasticity of Demand
Chapter 3 Review Questions
Chapter 4: Quantitative Demand Analysis
Econometrics and Regression Analysis
Use of Excel for Regression
Chapter 4 Review Questions
Chapter 5: Economic and Business Forecasting
Who Uses Forecasts?
Types of Forecasts
Selection of Forecasting Method
The Qualitative Approach
Naive Models, Moving Averages, and Smoothing Methods
Measuring Accuracy of Forecasts
Chapter 5 Review Questions
Chapter 6: Theory of Production
Measures of Productivity
The Stages of Production
Returns to Scale
Output Elasticity and Returns to Scale
Chapter 6 Review Questions
Chapter 7: Multiple Product Planning and Linear Programming
Applications of LP
Activity Analysis and Single Product
Chapter 7 Review Questions
Chapter 8: Cost: Theory and Analysis
Stages of Production and Short-Run Cost Curves
Long Run Cost Curves - Planning Curves
Statistical Cost Analysis
Types of Costs
Incremental Analysis versus Marginal Analysis
Cost-Volume-Profit and Break-Even Analysis
Graphical Approach in a Spreadsheet Format
Chapter 8 Review Questions
Chapter 9: Markets and the Behavior of the Firm
Chapter 9 Review Questions
Chapter 10: Pricing Policies and Strategies
Optimal Pricing Policy and Price Elasticity
Markup Pricing and Profit Maximization
Strategies That Yield Even Greater Profits
Strategies for Special Cost and Demand Structures
Chapter 10 Review Questions
Chapter 11: Long -Term Investment Decisions - Capital Budgeting
What are the Types of Investment Projects?
Understanding the Concept of Time Value of Money
A Basic Framework for Capital Budgeting
Capital Rationing (Project Ranking with a Limited Budget)
Cost of Capital and the Discount Rate
Chapter 11 Review Questions
Chapter 12: Risk in Project Analysis
Utility Theory and Risk
Risk Analysis in Capital Budgeting
Chapter 12 Review Questions
Chapter 13: A Manager's Guide to Government in the Market Place
The Rationale for Regulation
Antitrust Policy: Government Regulation of Market Conduct and Structure
Resource Allocation and the Supply of Public Goods
Public Project Analysis and Cost-Benefit Analysis
Chapter 13 Review Questions
Table 1 - Future Value of $1 = T1(i,n) = FVIF
Table 2 - Future Value of an Annuity of $1 = T2(i,n) = FVIFA
Table 3 - Present Value of $1 = T3(i,n) = PVIF
Table 4 - Present Value of an Annuity of $1 = T4(i,n) = PVIFA
Table 5 - Critical Values for the t-Statistic
Table 6 - Learning Curve Coefficients