Unit – I Nature & Scope of Managerial Economics Contents Fundamental Economics Concepts: Opportunity Cost‚ Discounting principle‚ Time perspective‚ Incremental reasoning‚ Equi-marginal concept. Marginal concept in economics. Economics of information: Risk‚ Uncertainty‚ Asymmetry of information‚ Adverse Selection‚ Market Signaling. The theory of firm; Econometric Models & Economic optimization. ____________________________________________________________________________________
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abandon it to conform to a dominant culture. Bourne predicted that if Americans could eradicate white supremacist attitudes and adopt a pluralistic perspective‚ the United States could become “the first truly democratic society on earth” (p. 144). Pluralists insist that people have right to maintain and be proud of their racial‚ cultural‚ ethnic‚ or religious
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Decision-Making “A policy decision involves action by some official person or body to adopt‚ modify‚ or reject a preferred policy alternative.” (Anderson‚ 125) Usually this is the result of many decisions during the policy process. Individuals and organizations also participate in making policy decisions but the final authorities who partake making the policy decisions are formal authorities’ also known as public officials like: executives‚ legislators and administrative judges. The decisions made
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Traditional organization forms of a company and kinds of risks involved in each of the different forms. Organization of different companies is always different. It usually depends on the size of the firm and could be one of the following - U form (unitary form)‚ M Form (multidivisional form)‚ Flat organization‚ H-form (Holding company). The size of a company plays a major role because small organizations are usually managed centrally and the hierarchy is well thought out and clearly recognizable. On
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American federalism was created on 1787 when the constitution was made. They did not want the confederal or the unitary models for the government that is when they chose to go with federalism. If they would have chosen the cofederal it would mean that the member states would be the ones to make up for the union which would be for the respective states and not the government. If the unitary models would have been chosen that would mean that government would be sovereign to states. But they chose federalism
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Describe and Evaluate the Multi-Store Model of Memory The multi-store model of memory (MSM) is an explanation of the process of memory. Richard Atkinson and Richard Shiffrin first illustrated the multi-store model‚ in 1968‚ it explains how we hear‚ see and feel many things but only a small number are remembered and other aren’t. There is strong evidence of three different stores suggesting that the basis of the MSM is reliable. However there has been some criticism of the MSM‚ most importantly
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10 Employment Relations Chapter Objectives v To outline alternative perspectives on power and authority in the employment relationship v To outline the relationship between HRM and employment relations v To discuss key trends in employment relations‚ particularly trade union decline and the rise of non-unionism v To outline the notions of employee ‘voice’‚ employee involvement and participation v To discuss the various means by which employees can be given a voice in organisational decision-making
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Employee Resourcing – The Psychological Contract How can we define the psychological contract? Is it the set of mutual obligations/expectations and more often than not aspirations between employer and employee that extend beyond the formal‚ written contract of employment? This is the general consensus with modern scholars and workers alike‚ but just how far is this assertion true? The problem is trying to evaluate what the psychological contract actually is and what it stands for in our
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How important is civil society to bringing about political and social change? In this essay we will explore the varying importance of civil society in different countries and across periods of time and how this relative importance is reflected in its capability for both political and social change; the former relating to a modification in the political structure or constitution and the latter an alteration in social order within society. A civil society is defined as ‘a diverse sphere of social
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who gets elected to the upper chamber of Parliament. the groups or individuals that influence decision making. the capacity to influence which issues make it on to the political agenda. the distribution of seats in provincial legislatures. The "pluralist perspective" suggests that: power is held by a wide variety of groups. conservative values dominate politics. power is concentrated in a
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