...ECO 550: Managerial Economics and Globalization Assignment 3 Instructor: Dr. A. A. Boakye Due By: 08/08/2011 Candidate’s Name-Andre Stevenson INSTRUCTIONS: Answer ALL the questions in PART I and PART II Part 1 (40 points) 1. The WXY Corporation has fixed costs of $50. Its total variable costs (TVC) vary with output as shown in the following table. Refer to the table. The average total cost of 4 units of output is A. $27.50 B. $40.00 C. $52.50 D. $210.00 2. to scale as it increases its output over any reasonable range. If it increases all its inputs by 10%, its Suppose a particular firm exhibits constant returns A. total cost will increase by less than 10% B. average total cost will increase by 10% C. output will increase by 10% D. long run average cost curve will shift to the right by 10% 3. The distinguishing feature of the short run is that: A. at least one input is fixed B. output is fixed C. input prices are variable D. technology is variable 4. If marginal product is positive but falling A. marginal cost must also be falling B. average product must be falling C. total product is increasing at a decreasing rate D. total product is falling 5. Which one of the following short-run cost curves would not be affected by an increase in the wage paid to a firm's labor? A. Average variable cost B. Average fixed cost C. Average total cost D. Marginal cost 6. To the economist, total cost includes: A. explicit and...
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...JONAH ELEKWACHI SU200002162 ECO- 550 MANAGERIAL ECONOMICS AND GLOBALIZATION INSTRUCTOR: PROF DR.AHMED MOHAMED ASSIGNMENT #2. DATE: 03/09/2014. * Briefly describe the details of the fictitious business that you created for this assignment. Urbanaz Inc manufactures aluminum roofing sheets. The company has been in business for over 10 years and during this time have established itself as a high quality manufacturer of roofing sheets, even though this company only appeals to a small fraction of the roofing sheet industry, they had been able to maintain a 22% profit margin. Due to the failing economy which brought about the decline in building, Urbanaz’s profit margin dropped below the break-even point, The Company is also facing a legal suit with the state government which the outcome is unlikely going to favor them. So they are faced with options to either re-strategize the company or shutdown. * Assess the current environmental scan factors that are relevant to the decision making process. Determine the factors that will have the greatest impact on plant operations and management’s decision to continue or discontinue operations. Environmental scanning involves a process of gathering, analyzing, and dispensing information for tactical or strategic purposes. The Company’s macro environment can be expressed in terms of the following factors; Social Technological Economic Political When considering whether or not to continue operations...
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...MID-TERM EXAM - 1st Semester, 2012 |Date |Time |Course Title & Code |Room No. | |29 June, 2012 |11.00 am ~ 12.30 pm |501: Accounting System & Auditing |502 | |(Friday) | | | | |30 June, 2012 |7.00 pm ~ 8.30 pm |502: Managerial Economics |402 | |(Saturday) | | | | |06 July, 2012 |3.00 pm ~ 4.30 pm |503: Business Communication |502 | |(Friday) | | | | |07 July, 2012 |7.00 pm ~ 8.30 pm |504: Advanced Management |502 | |(Saturday) | | | | |13 July, 2012 |3.00 pm ~ 4.30 pm |503: Business Communication...
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...Research or Interview Paper Instructions You can choose 1 of the following two options for your Research or Interview Paper. Your paper will be 7 double-spaced pages for the main content (not including the cover page and reference page). Your choices include: 1. A research paper Steps for writing the research paper: a) Choose a topic in Managerial Economics. b) Submit the topic and the outline of the paper to the instructor anytime for approval. c) A minimum of 3 references besides the textbook are required. Liberty University library has excellent resources for your search for journals. http://www.liberty.edu/index.cfm?PID=178 OR 2. An interview paper Steps for writing the interview paper: a) Choose a topic in Managerial Economics. b) Design at least 5 questions according to the topic. c) Submit your questions to the instructor for approval. d) Contact a local or non-local company for an interview. e) Conduct the interview for answers to your questions. f) The paper must have 3 parts: • The description of the company; • Interview questions and answers; and • Your comments. *The research paper is to be done individually, not as a group. **Do not wait until the last module/week to work on the paper. Do it as early as possible. ***A paper that was written for other classes would not be accepted for...
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...Case Study: Chapter 8 Aaron Lambert Saint Leo MBA 540 Managerial Economics Analyzing Managerial Decisions: Leaving New York for the Farmlands of Illinois While the co-workers may be rightly supportive of the individual’s aspirations, they are likely not qualified to advise him on this matter. The individual claims to have $800,000.00 saved from bonuses at his current place of employment. Based on that information alone, it appears that he is considering walking away from what seems like a fairly secure and profitable situation at his current job and committing to a new and less certain endeavor. With reports implying that demand for corn will soar the farming proposition may seem like a good idea; however, our potential farmer needs to consider other factors. The costs associated with acquiring the land are known and estimated to be $800,000.00, but there are other costs involved that are considerable and quite fixed. He will need to purchase farming equipment and machinery, which will require much more cash upfront in addition to the land. These fixed costs definitely need to be factored into the decision but are omitted in the text. If he has a lot more of that bonus money remaining, he could purchase the machinery outright. If paying cash is not possible he will need to take up a loan, lease, or rent; either option resulting in additional expenses incurred each period. Based on an article published by the University of Illinois in 2014, corn farmers in Illinois...
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...Entire Course Managerial Economics and Globalization Follow Below Link to Download Tutorial https://homeworklance.com/downloads/eco-550-entire-course-managerial-economics-globalization/ For More Information Visit Our Website ( https://homeworklance.com/ ) Email us At: Support@homeworklance.com or lancehomework@gmail.com ECO 550 DQ 1: Managerial Economic Decision Making From the e-Activity, assess how business leaders use managerial economics to make business decisions indicating how profits may be impacted. Analyze the principal-agent problem to determine how the relationship could be less adversarial. ECO 550 DQ 2: Fundamental Economic Concepts Pick a recently released good or service. Then, determine the factors that must be evaluated regarding the product’s supply and demand. Analyze how these factors impact the decision to supply the product indicating the significance of each in the decision-making process. ECO 550 DQ 3 From the e-Activity, explain the most important information you would require on which to base sound economic judgments. Explain your rationale. Assess the various forms of organizing and processing information to determine which is the most difficult to get correct. Explain your rationale ECO 550 DQ 4 Analyze the characteristics that make any transaction possible and justify the importance of each of the characteristics.Evaluate the role institutions play in transactions and discuss the likely economic impact if institutions...
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...like Spain is currently making all right decisions to move towards Globalization, and hence it makes it as my BUY candidate. Germany continues to maintain its strong presence in all top lists that matter like Economic Freedom, Internet Usage, and Technological Achievements etc. and hence justifies its BUY previously and makes as my HOLD candidate. Germany is the third most economically important country in world according to Nation-Master. South Africa on other hand is not making enough progress. In fact based on Country Profile at Nation-Master, South Africa is ranked higher in all the bad or worse indexes. The potential it showed earlier to rise up from developing country to developed country is not showing anywhere and thus makes it as my top-most candidate for SELL. Note: This document is still just some scribbles and not the finalized document. Social Globalization * How Wired Is Your Country or Company? Based on Statistics published at Internet Usage in Europe, Germany is most wired nation in Europe in June 2010. Spain is almost getting there. South Africa on other hand is not showing much progress. * How Fast Is Your Country or Company? Policy on Adapting or Pioneering new things * Is Your Company or Country a Shaper or an Adapter? Education and Innovation * Is Your Country or Company Harvesting Its Knowledge? * How Much Does Your Country or Company Weigh? Economic Globalization * Does Your Country or Company Dare to Be Open on the Outside...
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...Introduction 4 What Is Globalization? 6 The Globalization of Markets 6 The Globalization of Production 7 The Emergence of Global Institutions 9 Drivers of Globalization 11 Declining Trade and Investmen t Barriers 11 The Role of Technological Change 14 The Changing Demographics of the Global Economy 16 The Changing World Output and World Trade Picture 16 The Changing Foreign Direct Investment Picture 18 The Changing Nature of the Multinational Enterprise 19 The Changing World Order 22 The Global Economy of the Twenty-First Century 23 The Globalization Debate 24 Antiglobalization Protests 24 Globalization, Jobs, and Income 26 Globalization, Labor Policies, and the Environment 28 Globalization and,National Sovereignty 29 Globalization and the World's Poor 30 Managing in the Global Marketplace 31 Key Terms 33 Chapter Summary 33 Critical Thinking and Discussion Questions 34 Research Task 34 Closing Case: Legal Outsourcing 35 Introduction and Overview 2 Globalization 3 PART TWO Chapter Two Country Differences 36 National Differences in Political Economy 37 Opening Case: Ghana: An African Dynamo 37 Introduction 38 Political Systems 39 Collectivism and Individualism 39 Democracy and Totalitarianism 42 Economic Systems 44 Market Economy 44 Command Economy 45 Mixed Economy 45 Legal Systems 46 Different Legal Systems 46 Differences in Contract Law 47 Property Rights and Corruption 48 The Protection of Intellectual Property 51 Product Safety and Product Liability 53 Focus on Managerial Implications...
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...ADMINISTRATION DEVELOPMENT & GLOBAL PERSPECTIVES IN 21ST CENTURY Dr. S.B. Ambhore Professor Dept of Economics Smt Dankuwar Mahila Mahavidalya Jalna Suresh Shravan Patil Arts, Commerce college Chanawad Nashik Introduction The Indian economic scenario has taken an ‘U’ shape turn over the recent past. India has witnessed a stagnant, tranquil and well protected economy since last several decades. The Indian organizations are constantly striving to improve their managerial competence in today’s competitive global world. To improve the productivity, Indian companies requires’ Management. Managerial activity being concerned with things done through people, managers have the opportunity of utilizing human resources to secure greater productivity, manager is a person who actually does and get others to do things. All the technological up gradations which are happening are because of the human resource, which shows the importance of management development for a global perspective. Today Mangers do not concentrate on one thing at a time; they work on a complex situation. Analytical skill and presence of mind the twin facets to achieve an end result. Convincing everyone on every situation is a tough task on the part of managers. In a complicated situation, management development is an effective tool for H.R.D. India at present requires successful managers to run successfully the industrial enterprises...
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...Kiki Accounting of Managerial There are thousands of jobs in our society, but I choose accounting of managerial to be my job. Because my major is business manage, and I am studying accounting very well, I think the job of managerial is very suitable for me. Therefore, I would like to talk something about my future job, accounting of managerial. By the influence of the trend of globalization, the foundation of the enterprise business operation happened great change, enterprise management environment uncertainties in the increase, the competition between enterprises as hot as ever, the enterprise had to its business decision and management control system adjustment. To strengthen internal management of the realistic requirement to management accounting put forward new challenges. On the one hand, in the contemporary globalization trend influence, management accounting more and more be external information and the financial information on the impact of the correlation between decision-making, management accounting must adapt to the change; On the other hand, the enterprise organization the internal structure of the change also forced the management accounting in the management control aspect to have the new breakthrough, in order to meet the needs of the management decisions. First, the structure of organization often adopts international division structure. Along with the international sales total sales proportion of growth, many success from the international division structure...
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...THE CHALLENGES OF GLOBALIZATION AND THE ROLE OF HUMAN RESOURCES. Muhammad Aminu Bawa (1) Dr Juhary Ali (2) ABSTRACT The current financial crisis, which has engulfed East Asia since July 1997 and has subsequently spread to Russia and Brazil, is one of the most pressing challenges facing countries and businesses in today's global business environment. Globalization represents the structural making of the world characterized by the free flow of technology and human resources across national boundaries as well as the spread of Information Technology (IT) and mass media presenting an ever-changing and competitive business environment. Two major limitations are observed in the treatment of the twin issues of the responses to the East Asian economic crisis and the coverage of the literature on globalization. While the response to the crisis has focused on macroeconomic aspects, the issue of globalization has been addressed predominantly in and with respect to the developed economies of Western Europe, North America and Japan. This paper is an attempt to address these two limitations. Since the human factor is the key in the new era of globalization (Hassan, 1992; Sims & Sims, 1995), the primary objective of this paper is to present a conceptual framework for effective management of human resources as a response to the growing interaction of globalization and business performance. Three central arguments are made in this paper. (1) That a growing body of evidence converge...
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...Critiquing the Affects of Globalization, Diversity, and Intuition on Managerial Roles Managerial roles are increasingly more challenging to fulfill with employees, projects and industries spanning across countries and boundaries. With globalization, there are business process differences to overcome, diversity with respect to organizational culture to consider, and the intuitive element is approached from gender perspective as well as its relevancy in shaping managers’ cognitive style. Global change is altering the supply chain management structure and efficiency for U. S. multinational corporations. Johnson (2006) points to five areas of importance regarding supply chain management structures: Globalization and outsourcing, including the impact of China and India on supply chain structure and coordination; new information technologies, such as radio frequency identification (RFID) and tools that enable enterprise integration and collaboration; economic forces within and between supply chains, from the consumer pricing to supplier contract negotiation; risk management, including risks from supply chain complexity and from security threats; product lifecycle management, including post-sale service and product recovery (p.191-192). Even though these areas are important, Johnson (2006) underemphasized the importance and affects of cultural values and managerial philosophies on supply chain management organizations (Robbins & Judge, 2007). Anwar and Chaker (2003) demonstrated...
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...Globalization is the process by which the world is interconnected through technology and powerful infrastructure for the purpose of communicating and managing resources. Globalization seems to talk about several vibrant phenomena which ensure two major components. Firstly, they function across national boundaries and secondly, they result in higher incorporation or interdependence of human societies. It is therefore one aspect of development that affects the world in general, from every point of human view. There are numerous ways in which globalization has impacted the world today. Some of these include modification of worldwide environment in investment, management, machinery, policy-making, economics, and societal conditions, which shaped breaks aimed at the entrepreneurial initiatives to develop global trades at tremendous speed. These would encourage more trading and employment opportunities for individuals across the globe. Globalization offers a boundless opportunity for business endeavors to develop their trade all over the world. Ways in which trade can be linked to globalization. The first way may include the exceptional progress of foreign direct investment. This has been enabled by ease of internet accessibility all over the world. Secondly, there could be increased competitive advantage, through specialization and division of labor, as different countries can specialize on what they can produce best. The growth of technology innovation has also been influenced by...
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...privatization the major method of handling certain tasks such as building maintenance, methods of transportation and administrative work. A well managed public sector will ensure Canada functions at peak efficiency and this is the goal of the public service. This paper will discuss what may happen in public management within Canada in the future and why a global capitalist society is largely the basis for the transition we are seeing today. Globalization is a factor in the new millennium that must be included in almost any discussion concerning the future. At the click of a finger, a businessman making financial transactions in Toronto can transfer dollars to any country where he is doing business. Globalization has allowed for cheaper and faster transfers of speculative portfolio investment. Since the late 1970s and early 1980s, globalization has been pushed by the countries dominant in the world’s major economic and political circles. As some would claim, not to globalize is to be marginalized in the world community. Globalization, as commonly discussed, refers to the explosive growth in the past 25 to 30 years of huge multinational...
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...Impact of Globalization On Trade & employment Globalization is the process by which the world is interconnected through technology and powerful infrastructure for the purpose of communicating and managing resources. Globalization seems to talk about several vibrant phenomena which ensure two major components. Firstly, they function across national boundaries and secondly, they result in higher incorporation or interdependence of human societies. It is therefore one aspect of development that affects the world in general, from every point of human view. There are numerous ways in which globalization has impacted the world today. Some of these include modification of worldwide environment in investment, management, machinery, policy-making, economics, and societal conditions, which shaped breaks aimed at the entrepreneurial initiatives to develop global trades at tremendous speed. These would encourage more trading and employment opportunities for individuals across the globe. Globalization offers a boundless opportunity for business endeavors to develop their trade all over the world. Ways in which trade can be linked to globalization. The first way may include the exceptional progress of foreign direct investment. This has been enabled by ease of internet accessibility all over the world. Secondly, there could be increased competitive advantage, through specialization and division of labor, as different countries can specialize on what they can produce best. The growth...
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