For help preparing for, and support during your MBA course, The Essential MBA brings together a comprehensive overview of the main subjects taught on MBA and business and management programs in one book.
Each chapter is written by a specialized contributor and offers students a helpful introduction to each topic of study, including: Useful sections on research methods and study skills; Further reading recommendations and questions for reflection; A critical perspective of the subject matter; discussions of the underlying assumptions of mainstream theories; and reviews of alternative approaches.
Covering many key areas of management, this text is an invaluable guide for MBA students, as well as offering a useful introduction for undergraduate and graduate students of business and management and practitioners interested in reflecting how some areas of current thinking relate to their own experience and practice.
Chapter 6: Economics1
- The Scope and Purpose of the Chapter 144
- The Individual 146
- The Organization 154
- Markets and Strategies 163
- The Organization's External Environment 175
Allocative efficiency; Average total cost; Backward induction; Nash-Bertrand equilibrium; Constant returns to scale; Consumer surplus; Cournot-Nash equilibrium; Creative destruction; Cross-price elasticity of demand; Deadweight loss; Decreasing returns to scale; Diminishing marginal utility; Economic efficiency; Economies of scale; Efficient markets hypothesis; Elasticity of demand; Externalities; Fiscal policy; Fixed costs; Game theory; Gross domestic product (GDP); Income elasticity of demand; Increasing returns to scale; Indifference curve; Isoquant; Long period; Marginal cost; Marginal product; Marginal rate of substitution; Marginal rate of technical substitution; Marginal revenue; Monetary policy; Monopoly; Monopsony; Nash equilibrium; Nash-Bertrand equilibrium; Nash-Cournot equilibrium; Normal profit; Oligopoly; Opportunity cost; Own price elasticity ...