Economics of Strategy: Game Theory
CREATING & CAPTURING VALUE
Creating Value - A single-player perspective
Added Value to
Strategy to creat
National Income: Where It Comes
From and Where It Goes
A large income is the best recipe for happiness I ever heard of
he most important macroeconomic variable is gross domestic product
(GDP). As we have seen, GDP measures both a nation's tot
Economic Growth II:
Technology, Empirics, and Policy
Is there some action a government
could take that would lead the
Indian economy to grow like Indonesia's or Egypt's?
not, what is it about the "n.ature
if so, what, exactly? if
if India" that m
A man willing to work, and unable to find work, is perhaps the saddest sight
that fortune's inequality exhibits under the sun.
- Thomas Carlyle
nemployment is the macroeconomic problem that affects people most
directly and severely. For mos
Economic Growth I:
and Population Growth
The question of growth is nothing new but a new disguise for an age-old
issue, one which has always intrigued and preoccupied economics: the present
versus the future.
- James Tobin
f you hav
The Data of Macroeconomics
It is a capital mistake to theorize before one has data. Insensibly one begins to
twist facts to suit theories, instead
ef theories to fit facts.
cientists, economists, and detectives have much in common: they a
The Monetary System:
What It Is and How It Works
There have been three great inventions since the beginning of time:fire,
the wheel, and central banking.
- Will Rogers
he two arms of macroeconomic policy are monetary and fiscal policy.
Fiscal policy enc
The Science of Macroeconomics
ef science is nothing more than the refinement ef everyday thinking.
hen Albert Einstein made the above observation about the nature
of science, he was probably referring to physics, chemistry, an
Basic Cost Management
Learning objective 1.
Explain what is meant by the word cost.
Process of Management
Managers need cost information to
perform each of these functions.
The Changing Role of
in a Dynamic Business
Learning objective 1.
Define managerial accounting and describe its role
in the management process.
Every organization has a set of goals or objectives.
Consumer Choice and Demand
HOW DOES A CONSUMER
MAKE THE DECISION?
I like A better than B, or am indifferent between A and B
If I like A over B and B over C, then I like A over C
I like mo
Economics of Strategy: Creating & Capturing Value
RECAP ON STRATEGIC INTERACTION
Game and Strategy
A Game situation is described by four elements
- Player, Action/move, Outcome, and Payoff
The Open Economy
No nation was ever ruined by trade.
ven if you never leave your hometown, you are an active participant in
the global economy. When you go to the grocery store, for instance, you
might choose between apples grown locall