Managerial Economics - PowerPoint PPT Presentation

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Managerial Economics

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Stylized Ways of Viewing Interaction Simple means ... does rain impact crime Now Test Model Econometrics Other Models Economics of Marriage Economics of Abortion ... – PowerPoint PPT presentation

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Title: Managerial Economics


1
Managerial Economics
  • Economic Models

2
Stylized Ways of Viewing Interaction
  • Simple means Better
  • Friedman
  • Best Describe the World
  • Samuelson
  • Every theory is wrong but what if it gets men
    to the moongt

3
Model
  • THE ECONOMICS OF CRIME
  • The Economics of Illegal Parking
  • Higher gas prices fuel gas theft!

4
Theory
  • Self-Interest

5
Model Demonstrates
  • Economic Actors as Rational Calculators
  • Decision making Under Uncertainty terms as used
    in this subject

6
Develop Model
  • Costs
  • Fine
  • Probability of being caught and brought to
    Justice
  • Benefits
  • The loot

7
Use Model to Predict
  • How does rain impact crime
  • Now Test Model
  • Econometrics

8
Other Models
  • Economics of Marriage
  • Economics of Abortion
  • Economics of Charity
  • Economics of Education
  • Economics of Your Product
  • Economics of Your Employees Behavior
  • !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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