Managerial Economics

Managerial Economics

• Conventional theory of the firm & a taste of reality

• Lecture 02: Blinder's empirical research into the actual behavior of firms

• Supplement to Lecture 02: An explanation of my research on why the neoclassical theory of the firm is illogical
• Lecture 03: Alternative theories of price including Galbraith, Post Keynesians, Sraffians & Schumpeter
• Lecture 04: Schumpeter's model of entrepreneurial profits
• Lecture 05: Game theory--warts and all
• Lecture 06: Ormerod's Schumpeterian model of competition
  • Ormerod's paper
• Lecture 07: Standard Macroeconomics

• Lecture 08: Data on US business cycle & Schumpeter's theory of cycles

• Lecture 09: Minsky's theory of financial cycles
  • Vissim viewer program for running models (install to run models below)
    • Basic Goodwin model (no finance)
    • Finance model (stable initial conditions)
    • Finance model (unstable initial conditions)
    • Mixed Economy model
• Lecture 10: The Capital Assets Pricing Model: Theoretical and Empirical Failure
• Lecture 11: New Approaches to Finance: Behavioural Finance, Econophysics and others
• Lecture 12: Standard Trade Theory, Warts and All...
• Lecture 13: Porter's Competitive Advantage + Subject Wrap-up