Managerial Economics Theory and Practice - Webster

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Selected Readings

SELECTED READINGS Alchain,A.A., and H. Demsetz.“Production, Information Costs, and Economic Organization,” American Economic Review, 57 (December 1972), pp. 777–795. Baumol, W. J. Business Behavior, Value and Growth. New York: Harcourt Brace Jovanovich, 1967. Boyes, W., and M. Melvin. Microeconomics, 3rd ed. Boston: Houghton Mifflin, 1996. Brennan, M. J., and T. M. Carroll. Preface to Quantitative Economics & Econometrics, 4th ed. Cincinnati, OH: South-Western Publishing, 1987. Case, K. E., and R. C. Fair. Principles of Microeconomics. Upper Saddle River, NJ: PrenticeHall, 1999. Glass, J. C. An Introduction to Mathematical Methods in Economics. New York: McGraw-Hill, 1980. Coase, R. “The Nature of the Firm.” Economia, 4 (1937), pp. 386–405. Demsetz, H., and K. Lehn. “The Structure of Corporate Ownership: Causes and Consequences.” Journal of Political Economy, 93 (December 1985), pp. 1155–1177. Diamond, D. W., and R. E. Verrecchia. “Optimal Managerial Contracts and Equilibrium Security Prices.” Journal of Finance, 37 (May 1982), pp. 275–287. Fama, E. F., and M. C. Jensen. “Separation of Ownership and Control.” Journal of Law and Economics, 26 (June 1983), pp. 301–325. ———. “Agency Problems and Residual Claims.” Journal of Law and Economics, 26 (June 1983), pp. 327–349. Green, W. H. Econometric Analysis, 3rd ed. Upper Saddle River, NJ: Prentice-Hall, 1997. Grossman, S. J., and O. D. Hart. “An Analysis of the Principal-Agent Problem” Econometrica, vol. 51 (January 1983), pp. 7–45. Gujarati, D. Basic Econometrics, 3rd ed. New York: McGraw-Hill, 1995. Harris, M., and A. Raviv. “Some Results on Incentive Contracts with Applications to Education and Employment, Health Insurance, and Law Enforcement.” American Economic Review, 68 (March 1978), pp. 20–30. Henderson, J. M., and R. E. Quandt. Microeconomic Theory: A Mathematical Approach, 2nd ed. New York: McGraw-Hill, 1971. Holstrom, B. “Moral Hazard and Observability.” Bell Journal of Economics, 10 (Spring 1979), pp. 74–91. ———. “Moral Hazard in Teams.” Bell Journal of Economics, 13 (Spring 1982), pp. 324–340. Jensen, M. C., and W. H. Meckling. “Theory of the Firm: Managerial Behavior, Agency Costs, and Ownership Structure.” Journal of Financial Economics, 3 (October 1976), pp. 305–360. MacDonald, G. M. “New Directions in the Economic Theory of Agency.” Canadian Journal of Economics, 17 (August 1984), pp. 415–440. Marris, R., and A. Wood, eds. The Corporate Economy: Growth, Competition, and Innovative Potential. Cambridge, MA: Harvard University Press, 1971. McGuire, J. W., J. S. Y. Chiu, and A. O. Elbing. “Executive Incomes, Sales and Profits.” American Economic Review, 52 (September 1962), pp. 753–761. Ramanathan, R. Introductory Econometrics with Applications, 4th ed. New York: Dryden Press, 1998. Shavell, S. “Risk Sharing and Incentives in the Principal and Agent Relationship.” Bell Journal of Economics, 10 (Spring 1979), pp. 55–73. Silberberg, E. The Structure of Economics: A Mathematical Analysis. New York: McGraw-Hill, 1978. Simon, H. “Theories of Decision-Making in Economics and Behavioral Science.” American Economic Review, 59 (1959), pp. 253–283. Smith, A. The Wealth of Nations (1776). Available from Modern Library, New York. Williamson, O. The Economic Institutions of Capitalism. New York: Free Press, 1985.


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Chapter Questions

0
page 428

Key Terms and Concepts

2min
pages 426-427

Game Theory

6min
pages 419-424

Measuring Industrial Concentration

5min
pages 397-399

Selected Readings

5min
pages 392-394

Short-run Monopolistically Competitive Equilibrium

1min
page 378

Characteristics of Monopolistic Competition

1min
page 377

Long-run Monopolistically Competitive Equilibrium

12min
pages 379-385

Chapter Questions

3min
pages 368-369

Welfare Effects of Monopoly

10min
pages 357-362

Key Terms and Concepts

4min
pages 366-367

Characteristics of Market Structure

5min
pages 328-330

Perfect Competition

2min
page 331

Chapter Review

2min
page 317

Key Terms and Concepts

4min
pages 318-319

Selected Readings

2min
pages 279-280

Chapter Exercises

1min
page 278

Key Terms and Concepts

3min
pages 275-276

Chapter Questions

2min
page 277

Chapter Review

2min
page 274

Long-run Cost

1min
page 265

The Functional Form of the Total Cost Function

3min
pages 256-257

Key Relationships:Average Total Cost,Average Fixed Cost,Average Variable Cost,and Marginal Cost

5min
pages 253-255

Learning Curve Effect

5min
pages 262-264

Short-run Cost

4min
pages 251-252

Chapter Exercises

1min
page 246

Chapter Questions

3min
pages 244-245

Selected Readings

1min
pages 247-249

The Relationship Between Production and Cost

1min
page 250

Chapter Review

1min
page 240

Key Terms and Concepts

6min
pages 241-243

The Three Stages of Production

2min
page 226

The Law of Diminishing Marginal Product

3min
pages 220-221

The Production Function

7min
pages 212-215

The Role of the Firm

3min
pages 210-211

Chapter Exercises

6min
pages 206-208

Chapter Questions

1min
page 205

Selected Readings

1min
page 159

Chapter Review

3min
pages 201-202

Key Terms and Concepts

4min
pages 203-204

Chapter Exercises

3min
pages 157-158

Chapter Questions

3min
pages 155-156

Key Terms and Concepts

4min
pages 153-154

Chapter Review

2min
page 152

The Allocating Function of Prices

1min
page 151

Determinants of Market Supply

6min
pages 129-132

Price Ceilings

7min
pages 145-148

The Law of Supply

1min
page 128

Price Floors

3min
pages 149-150

The Law of Demand

3min
pages 115-116

Chapter Review

3min
pages 107-108

Selected Readings

1min
pages 112-114

Market Demand Versus Firm Demand

1min
page 127

Profit Maximization:The First-order Condition

3min
pages 91-92

Partial Derivatives and Multivariate Optimization:The First-order Condition

0
page 96

Rules of Exponents

2min
page 67

The Slope of a Linear Function

1min
page 62

Selected Readings

2min
pages 56-58

Chapter Exercises

2min
pages 54-55

Chapter Questions

3min
pages 52-53

Key Terms and Concepts

3min
pages 50-51

Variations in Profits Across Industries and Firms

4min
pages 46-47

Normal Profit

1min
page 45

Chapter Review

3min
pages 48-49

Manager-Worker/Principle-Agent Problem

3min
pages 40-41

Owner-Manager/Principle-Agent Problem

4min
pages 38-39

What is Managerial Economics

1min
page 19

The Role of Profit

3min
pages 31-32

How Realistic is the Assumption of Profit Maximization?

4min
pages 36-37

The Role of Government in Market Economies

5min
pages 28-30

Theories and Models

5min
pages 20-22

Three Basic Economic Questions

3min
pages 24-25

What is Economics

3min
pages 16-17

Characteristics of Pure Capitalism

3min
pages 26-27
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