1 SM1.21 Managerial Economics Welcome to session 2 Optimization Techniques and New Management Tools.

Slides:



Advertisements
Similar presentations
At what Q is TR maximized? How do you know this is a maximum
Advertisements

Managerial Economics & Business Strategy Chapter 1 The Fundamentals of Managerial Economics.
Further Optimization of Economic Functions
Economic Optimization Chapter 2. Economic Optimization Process Optimal Decisions Best decision produces the result most consistent with managerial objectives.
The Theory and Estimation of Production
S A V Dr. H. Stoessel Managerial Economics 1999 Managerial Economics SM1.21 Managerial Economics n Welcome to session 1.
Optimization Techniques Methods for maximizing or minimizing an objective function Examples –Consumers maximize utility by purchasing an optimal combination.
Material for Week 2: Optimization Techniques Problem 3: Interest rate (i) = 15%
Defining Profit Lesson 4.52, Understanding Profit (52) Profit = Total Revenue – Total Costs Explicit vs Implicit Costs – Explicit costs require.
1 SM1.21 Managerial Economics Welcome to session 5 Production and Cost Analysis.
Chap # 5 : Optimization Techniques Tahir Islam Assistant Professor in Economics Kardan Institute of Higher Education, Kabul.
BY DR LOIZOS CHRISTOU OPTIMIZATION. Optimization Techniques.
CDAE Class 08 Sept. 20 Last class: 2. Review of economic and business concepts Today: 2. Review of economic and business concepts Quiz 2 (Time value.
Introduction to Managerial Economics Economic concepts Economic tools Economic methodology.
Managerial Economics Prof. M. El-Sakka CBA. Kuwait University Managerial Economics in a Global Economy Chapter 2 Optimization Techniques and New Management.
Functions. Warm Up Solve each equation. 1.2x – 6 = x = X + 29 = x – 5 – 4x = 17 x = 14 x = - 7 x = -15 x = 11.
Department of Business Administration FALL Optimization Techniques by Asst. Prof. Sami Fethi.
PowerPoint Slides by Robert F. BrookerHarcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc. Managerial Economics in a Global Economy.
Basic Economic Concepts Ways to organize an economic system –Free markets –Government-run Nature of decision making –Objectives –Constraints.
Prepared by Robert F. Brooker, Ph.D. Copyright ©2004 by South-Western, a division of Thomson Learning. All rights reserved.Slide 1 Managerial Economics.
Lecturer : Muchdie, PhD in Economics  PhD in Economics, 1998, Dept. of Economics, The University of Queensland, Australia.  Post Graduate Diploma in.
PowerPoint Slides by Robert F. BrookerHarcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc. Managerial Economics in a Global Economy.
Applied Economics for Business Management Lecture #8.
AP Economics Mr. Bernstein Module 53: Profit Maximization November 4, 2014.
1 Managerial Accounting Cost accounting  profitability analysis Budgeting  planning Performance  control Quality Time ……
Managerial Economics Managerial Economics = economic theory + mathematical eco + statistical analysis.
Managerial Economics Lecture: Optimization Technique Date:
The Production Function Chapter 13. Firm Behavior Firm’s have an economic goal to maximize profits Profits = Total Revenue – Total Costs.
Linear Programming Short-run decision making model –Optimizing technique –Purely mathematical Product prices and input prices fixed Multi-product production.
C opyright  2007 by Oxford University Press, Inc. PowerPoint Slides Prepared by Robert F. Brooker, Ph.D.Slide 1 1.
Chapter 1 The Nature and Scope of Managerial Economics.
PowerPoint Slides by Robert F. BrookerCopyright (c) 2001 by Harcourt, Inc. All rights reserved. Managerial Economics in a Global Economy Chapter 2 Optimization.
Chapter 2 Optimization Techniques and New Management Tools
AP Microeconomics 2004 Question 3.
Given Slope & y-Intercept
Chapter 2 Optimization Techniques and New Management Tools
15 Monopoly.
Input/Output tables.
The Production Process: The Behavior of Profit-Maximizing Firms
Principles and Worldwide Applications, 7th Edition
Algebra 1 Section 1.7 Identify functions and their parts
Managerial Economics in a Global Economy
Chapter 3 Optimization Techniques and New Management Tools
AP Microeconomics 2004 Question 3.
Defining Profit Lesson 8 Sections 52, 53, 54, 55.
AGEC 317 Review of Key Algebraic Concepts and Applications to Economic Issues.
Chapter 1 The Nature and Scope of Managerial Economics
السيولة والربحية أدوات الرقابة المالية الوظيفة المالية
5-2 Direct Variation.
The Production Function
The Production Function
MANAGERIAL ECONOMICS & FINANCIAL ANALYSIS
y x y = x + 2 y = x + 4 y = x – 1 y = -x – 3 y = 2x y = ½x y = 3x + 1
Profit-Maximizing Level for Mini-Z
Profit-Maximizing Level for Mini-Z
Write the equation for the following slope and y-intercept:
Profit Maximizing Level for Mini-Z
AP Microeconomics 2004 Question 3.
EQUATION Marginal Revenue and the Price Elasticity of Demand
Optimization Techniques
FIGURE 8.1A The Monopoly Model with Positive Economic Profit
TABLE 7.1 Market Structure.
Objective- To use an equation to graph the
Name:___________________________ Date:______________
Chapter 1 The Nature and Scope of Managerial Economics
Objective- To graph a relationship in a table.
Perfectly Competitive Markets
ECONOMICS / BAUMOL & BLINDER
Managerial Economics An Introduction By: Malik Abrar Altaf
1: Slope from Equations Y = 8x – 4 B) y = 6 – 7x
Presentation transcript:

1 SM1.21 Managerial Economics Welcome to session 2 Optimization Techniques and New Management Tools

2 SM1.21 Managerial Economics Optimization Techniques and New Management Tools

3 Methods of expressing Economic Relationships Equation Tables Graphs

4 Optimization Analysis Examining the process by which a firm determines the output level at which it maximizes total profits

5 Optimization Analysis Total revenue/cost approach Marginal Analysis

6 New Management Tools Benchmarking Total Quality Management (TQM) Reengineering The Learning Organization

Feedback: Privacy Policy Feedback
Do Not Sell My Personal Information
About project: SlidePlayer Terms of Service

© 2025 SlidePlayer.com. Inc. All rights reserved.