Tài liệu Khối Ngành Kinh Tế

Ambiguity (p. 174) Information about the situation, goals, or criteria that is incomplete or can be interpreted in multiple ways Symptomatic effects (p. 174) Observable behaviors related to underlying causal variables Problems – undesirable behaviors Are noticed due to their symptomatic effects

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Cost minimization problem: Finding the input combination that minimizes a firm’s total cost of producing a particular level of output. Cost minimization firm: A firm that seeks to minimize the cost of producing a given amount of output. Long run: A period of time when the quantities of all of the firm’s input can vary. Short run: A period of tim...

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Total Product Function: A single-input production function. It shows how total output depends on the level of the input Increasing Marginal Returns to Labor: An increase in the quantity of labor increases total output at an increasing rate. Diminishing Marginal Returns to Labor: An increase in the quantity of labor increases total output but at a...

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Governments (p. 149) Enact legal requirements to prevent unethical behavior E.g., Sarbannes-Oxley Act (2002) – requires greater transparency in company accounting practices Face “fundamental large-firm problem” stemming from: Separation of ownership and control Decentralized regulation system

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Organizations also use informal “network” structures either overlaid on formal structure, or made more explicit often serve a similar purpose to lateral coordination mechanisms but are more fluid / less permanent Network structures are essentially a form of internal market the “asset” is “capital” less transactional, more relationship-based ...

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On completing this chapter, you will gain an economic perspective on: The Theory of the Firm Market metaphors for organizational design Specific knowledge and decision authority The effect of organizational design on risk-taking How organizational design can affect Type I and Type II errors

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The consumer is maximizing utility at every point along the demand curve The marginal rate of substitution falls along the demand curve as the price of x falls (if there was an interior solution). As the price of x falls, it causes the consumer to move down and to the right along the demand curve as utility increases in that direction. The dem...

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Regional trade zones (p. 119) Zones established through trade agreements among several countries in which trade barriers are reduced or eliminated for member countries North American Free Trade Agreement (NAFTA) - involves Canada, Mexico, and the United States European Union – political and economic union of 27 European countries that share a co...

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Location of budget line shows what the income level is. Increase in Income will shift the budget line to the right. More of each product becomes affordable Decrease in Income will shift the budget line to the left. less of each product becomes affordable

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Q: Should you adopt a “No offer matching policy?” A: It depends on whether or not you think the worker will actually leave the firm If workers are likely to leave the firm for better offers, then you want the opportunity to “offer match” if the offer is still equal to or below the workers value to you If workers are not likely to leave the firm,...

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