BUS 530 Module 2 Case

Module 2 - Home

PRODUCTION AND COST ANALYSIS

Modular Learning Outcomes

Upon successful completion of this module, the student will be able to satisfy the following outcomes:

• Case o Analyze the theory of production and cost in the short

and long run. o Assess managerial decision making in the context of a

profit-maximizing firm. • SLP o Evaluate the tools of quantitative managerial decision

making. o Use statistical techniques to estimate cost equations

used by managers to make output and investment decisions.

• Discussion o Analyze economic events and reports using production

and cost analysis. o Integrate the informational content of production and

costs into the theory of profit maximization. Module Overview

Module 2 introduces the theory of production and costs. Managerial decision making is analyzed in the context of a profit-maximizing firm. Regression analysis is applied to estimate and forecast costs. Economic events and reports are analyzed using production and cost analysis.

Module 2 - Background

PRODUCTION AND COST ANALYSIS

Case Assignment Readings

Required Reading

Bhat, M.S., and Rau, A.V. Managerial Economics and Financial Analysis, Hyderabad, IND BS Publications, 2008. ProQuest ebrary. Web. Retrieved August 18 2014 Chapter 3: Theory of production Function and Cost Analysis, pp. 41-61.

Thomas, C.R., and Maurice, S.C., Managerial Economics, McGraw Hill (2008) Power Point Presentations available at:http://highered.mheducation.com/sites/0073402818/stude nt_view0/chapter8/powerpoint_presentation.html

http://highered.mheducation.com/sites/0073402818/student_ view0/chapter9/powerpoint_presentation.html

http://highered.mheducation.com/sites/0073402818/student_ view0/chapter10/powerpoint_presentation.html

Optional Reading

Links to Production Analysis

Economicsfun. (2010, May 22). The Theory of Production, Marginal Product, Average Product [Video file]. Retrieved from https://www.youtube.com/watch?v=qW9QqlLc42Y

SLP Assignment Readings

Required Reading

Links to Cost Analysis

gordonhensley (2012, July 18.) Cost Analysis Lecture [Video file]. Retrieved fromhttps://www.youtube.com/watch?v=SUberLlz0Us