管理经济学（英文）Ch01_Managers_and_Economics教材教学课件.ppt

1.* ? 2005 Prentice Hall, Inc. 1.* ? 2005 Prentice Hall, Inc. Economics for Managersby Paul Farnham Chapter 1: Managers and Economics Two Perspectives of Economics Microeconomics Analyzes the decisions that individual consumers, firms, and industries make as they operate in a market economy Macroeconomics Focuses on the overall level of economic activity, changes in price level, and amount of unemployment Important Definitions Managerial economics When microeconomics is applied to business decision making Price Amount of money charged for different goods and services in a market economy Important Definitions Output Products sold by a firm Input Resources such as land, labor, capital, raw materials, and entrepreneurship Microeconomic Influences on Managers Relative prices The price of one good in relation to the price of another similar good Markets The institutions and mechanisms used for the buying and selling of goods and services Major Types of Markets Perfect competition Monopolistic competition Oligopoly Monopoly Many firms One firm Characteristics of Markets Number of firms competing with one another Whether products sold are differentiated or undifferentiated Whether entry into the market is easy or difficult Amount of information available to market participants Perfect Competition Characteristics A large number of firms in the market Undifferentiated product Ease of entry into the market Complete information available to all market participants Perfect Competition: Assumption 4 Complete information is available to all market participants Perfectly competitive firms have no market power to influence the prices of its products and develop competitive strategies Monopoly Single firm produces a product for which there are no close substitutes Barriers to entry exist to keep competitors from entering the market Monopolistic Competition Firms produce differentiated products Several firms are in an industry Each firm has only limited ability to earn above-ave