This case is about COMPETITIVE STRATEGY, ECONOMICS, ECONOMY
- A Note On Microeconomics For Strategists Pdf 2016
- Microeconomics Lecture Notes
- A Note On Microeconomics For Strategists Pdf 4th Edition
Microeconomics is a branch of economics which studies how individual agent behaves unlike macroeconomics which studies the behavior of several agents. MICROECONOMICS Principles and Analysis Frank A. Cowell STICERD and Department of Economics London School of Economics December 2004.
PUBLICATION DATE: March 30, 1999
Note on Microeconomics for Strategists Case Solution
This case summarizes the core concepts behind the microeconomics of markets that are most relevant to business strategy. Sections I and II develop two basic building blocks of any market, demand and supply. Section II discusses how supply and demand interact to determine the quantity of goods traded in a marketplace and the price paid for those goods, with particular attention to the means that outside events affect the amount traded and the price paid.
Section IV presents the significant standard of 'perfect competition,' in which equally matched companies compete so vigorously and market entry is so simple that no firm makes more than its cost of capital. Section V investigates the methods that real markets depart from perfect competition. These departures lie at the center of long run profitability.
Related Case Solutions:
« Previous | Next »
Session Overview
Economics may have a reputation as a dismal science, but in fact it addresses some of the most fundamental problems we face: How to make the best decision given that resources are limited. You can use the tools of microeconomics to decide how best to spend your income; how best to divide your time among leisure activities; or how many people to hire in the business you run. Life is full of choices. Microeconomics can help you decide how to make them. Economics can't help you make a selection from this box of chocolates, but can be a vital tool in other decision-making situations. Image courtesy of ninanord on Flickr. |
Keywords: Microeconomics; prices; normative economics; positive economics; microeconomic applications.
Session Activities
Readings
Before watching the lecture video, read the course textbook for an introduction to the material covered in this session:
- [R&T] Chapter 1, 'Economics: The Study of Choice.'
- [Perloff] Chapter 1, 'Introduction.' (optional)
Lecture Videos
A Note On Microeconomics For Strategists Pdf 2016
Flash and JavaScript are required for this feature.
View Full Video
- Lecture 1: Introduction to Microeconomics (00:34:14)
Flash and JavaScript are required for this feature.
Lecture 1: Introduction to Microeconomics
View by Chapter
- What is Microeconomics? (0:08:15)
- The Role of Prices: Examples (0:04:44)
- Important Distinctions in Economics (0:04:02)
- Positive vs. Normative Analysis of the eBay Kidney Auction (0:10:39)
- Everyday Applications of Economics (0:06:30)
Flash and JavaScript are required for this feature.
What is Microeconomics?
Flash and JavaScript are required for this feature.
The Role of Prices: Examples
Flash and JavaScript are required for this feature.
Important Distinctions in Economics
Flash and JavaScript are required for this feature.
Positive vs. Normative Analysis of the eBay Kidney Auction
Flash and JavaScript are required for this feature.
Everyday Applications of Economics
Microeconomics Lecture Notes
Check Yourself
Concept Quiz
This concept quiz covers key vocabulary terms and also tests your intuitive understanding of the material covered in this session. Complete this quiz before moving on to the next session to make sure you understand the concepts required to solve the mathematical and graphical problems that are the basis of this course.
« Previous | Next »
Welcome!
This is one of over 2,400 courses on OCW. Explore materials for this course in the pages linked along the left.
MIT OpenCourseWare is a free & open publication of material from thousands of MIT courses, covering the entire MIT curriculum.
No enrollment or registration. Freely browse and use OCW materials at your own pace. There's no signup, and no start or end dates.
A Note On Microeconomics For Strategists Pdf 4th Edition
Knowledge is your reward. Use OCW to guide your own life-long learning, or to teach others. We don't offer credit or certification for using OCW.
Economics may have a reputation as a dismal science, but in fact it addresses some of the most fundamental problems we face: How to make the best decision given that resources are limited. You can use the tools of microeconomics to decide how best to spend your income; how best to divide your time among leisure activities; or how many people to hire in the business you run. Life is full of choices. Microeconomics can help you decide how to make them. Economics can't help you make a selection from this box of chocolates, but can be a vital tool in other decision-making situations. Image courtesy of ninanord on Flickr. |
Keywords: Microeconomics; prices; normative economics; positive economics; microeconomic applications.
Session Activities
Readings
Before watching the lecture video, read the course textbook for an introduction to the material covered in this session:
- [R&T] Chapter 1, 'Economics: The Study of Choice.'
- [Perloff] Chapter 1, 'Introduction.' (optional)
Lecture Videos
A Note On Microeconomics For Strategists Pdf 2016
Flash and JavaScript are required for this feature.
View Full Video
- Lecture 1: Introduction to Microeconomics (00:34:14)
Flash and JavaScript are required for this feature.
Lecture 1: Introduction to Microeconomics
View by Chapter
- What is Microeconomics? (0:08:15)
- The Role of Prices: Examples (0:04:44)
- Important Distinctions in Economics (0:04:02)
- Positive vs. Normative Analysis of the eBay Kidney Auction (0:10:39)
- Everyday Applications of Economics (0:06:30)
Flash and JavaScript are required for this feature.
What is Microeconomics?
Flash and JavaScript are required for this feature.
The Role of Prices: Examples
Flash and JavaScript are required for this feature.
Important Distinctions in Economics
Flash and JavaScript are required for this feature.
Positive vs. Normative Analysis of the eBay Kidney Auction
Flash and JavaScript are required for this feature.
Everyday Applications of Economics
Microeconomics Lecture Notes
Check Yourself
Concept Quiz
This concept quiz covers key vocabulary terms and also tests your intuitive understanding of the material covered in this session. Complete this quiz before moving on to the next session to make sure you understand the concepts required to solve the mathematical and graphical problems that are the basis of this course.
« Previous | Next »
Welcome!
This is one of over 2,400 courses on OCW. Explore materials for this course in the pages linked along the left.
MIT OpenCourseWare is a free & open publication of material from thousands of MIT courses, covering the entire MIT curriculum.
No enrollment or registration. Freely browse and use OCW materials at your own pace. There's no signup, and no start or end dates.
A Note On Microeconomics For Strategists Pdf 4th Edition
Knowledge is your reward. Use OCW to guide your own life-long learning, or to teach others. We don't offer credit or certification for using OCW.
Made for sharing. Download files for later. Send to friends and colleagues. Modify, remix, and reuse (just remember to cite OCW as the source.)
Learn more at Get Started with MIT OpenCourseWare
