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Class Notes for Management at McGill University

BUSA 100 Lecture Notes - Lecture 1: Evil Geniuses, Sanitary Engineering, Hyperbole
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How to Save Capitalism Rhetorical Strategies Hyperbole Ex. The title: How to Save Capitalism strategic exaggeration Introducing historical frames Ex. If the nancial debacles of the last decade.. Rhetorical questions Ex. ...

Management
BUSA 100
All Professors
MGMT 722 Lecture Notes - Ceteris Paribus, Demand Curve, Inferior Good

This lecture examines the basic Demand/Supply model that is central to microeconomics. We do so by defining the relationship between Price and Quantity in Demand and Supply without analyzing the cause of those relations...

Management
MGMT 722
Greg Matlashewski
MGMT 722 Lecture Notes - Cogeneration, Perfect Competition, Economic Equilibrium

Recall that all factors, particularly capital, are variable in the long-run. There are two ways (plus combinations of the two ways) that Capital can change in the long-run. 1. Change in the size of individual firms th...

Management
MGMT 722
Greg Matlashewski
MGMT 722 Lecture Notes - Budget Constraint, Indifference Curve, Opportunity Cost

BUDGET CONTRAINTS: - Suppose that the consumer (household) consumes only two goods (X and Y). Given the Prices of the two goods (P X P Y and the consumer’s income (m), the possible quantities purchasable ...

Management
MGMT 722
Greg Matlashewski
MGMT 722 Lecture Notes - Price Floor, Economic Equilibrium, Ceteris Paribus

We can analyze Demand and Supply and Market equilibrium with linear equations. These are equations of the form Y = a + bX where a is the Y-intercept, i.e., the value of Y when X is zero, and b is the slope (rise/run = Δ...

Management
MGMT 722
Greg Matlashewski
MGMT 722 Lecture Notes - Marginal Revenue, Competitive Equilibrium, Fixed Cost

PROFIT MAXIMIZATION Profit = Total Revenue (P*Q) – Total Costs Accountants calculate Profit as operating Profit = Total Revenue – Operating Costs = Total Revenue – Variable Costs (in economic terminolog...

Management
MGMT 722
Greg Matlashewski
MGMT 722 Lecture Notes - Pareto Efficiency, Allocative Efficiency, Productive Efficiency

Definition: Productive Efficiency is optimal output from given resources or minimal cost for a given output. We have already seen the concept of productive efficiency in our discussion of Production Possibili...

Management
MGMT 722
Greg Matlashewski
lecture 25.doc

A monopoly (‘single sellers’) is the sole producer in an industry. This means that Demand for the industry is Demand for the Monopoly and that the marginal cost and average cost functions of the monopoly are the margina...

Management
MGMT 722
Greg Matlashewski
MGMT 722 Lecture Notes - Opportunity Cost, Prometheus Books, Forego

Alfred Marshall, the founder of modern Microeconomics in 1890, defined Economics as “the study of mankind in the ordinary business of life; it examines that part of individual and social action which is most closely con...

Management
MGMT 722
Greg Matlashewski
MGMT 722 Lecture Notes - Economic Equilibrium, Remittance

Our understanding of elasticity will help us analyze the impact of sales taxes or subsidies on equilibrium price and quantity. 1. Per Unit Tax The simplest sales tax is a fixed tax per unit sold, regardless of ...

Management
MGMT 722
Greg Matlashewski
MGMT 722 Lecture Notes - Arc Elasticity, Harvest, Monotonic Function

Economists measure Elasticity as the ratio of percentages changes because a ratio of absolute change does not indicate the relative importance of a change (e.g., a $1 increase in the price of a car would hardly affect c...

Management
MGMT 722
Greg Matlashewski
MGMT 722 Lecture Notes - Average Variable Cost, Fixed Capital, Marginal Product

We first examine the cost of firms in the period when capital is fixed to understand the importance of marginal cost in the determination of profit maximizing output. We do this by deriving cost functions from productio...

Management
MGMT 722
Greg Matlashewski
MGMT 650 Lecture Notes - Arc Elasticity, Harvest, Monotonic Function

Principles of Microeconomics: Elasticity ELASTICITY Elasticity Definition: Elasticity measures the responsiveness of a change in a variable to the change in another variable => ε = %ΔQ/%ΔP Economists me...

Management
MGMT 650
Sebastien Breau
MGMT 650 Lecture Notes - Marginal Cost, Pareto Efficiency, Allocative Efficiency

Principles of Economics: Efficiency EFFICIENCY Definition: Productive Efficiency is optimal output from given resources or minimal cost for a given output. We have already seen the concept of productive eff...

Management
MGMT 650
Sebastien Breau
MGMT 650 Lecture Notes - Budget Constraint, Indifference Curve, Demand Curve

Preference Theory and Derivation of Demand CONSUMER CHOICE THEORY (DEMAND) BUDGET CONTRAINTS: - Suppose that the consumer (household) consumes only two goods (X and Y). Given the Prices of the two goods (PX...

Management
MGMT 650
Sebastien Breau
Administrative Law - Reference Guides

Administrative law directly influences the life of every American citizen. All local, state and federal agencies operate pursuant to general Administrative law principles. An understanding of all administrative law functio...

Business Admin - Mgt
MGMT 10
All Professors
Organizational Behavior - Reference Guides

The systematic study of individual and group behavior within organizational structures is outlined in this coordinated Guide. Theories of leadership and individual behavior are related to the foundations of group behavior ...

Psychology
PSYC 302
All Professors
Introduction to Business Law - Reference Guides

Business law, sometimes referred to as corporate-commercial law, is a system of governance and regulations in connection with the creation, existence and dissolution of businesses. Today, Canadian businesses are governed b...

BLAW - Business Law
BLAW 464
All Professors
Management - Reference Guides

The complex aspects of Management are made clearer in this Guide. This powerful Guide provides comprehensive assistance to anyone who desires a deeper appreciation of basic Management principles. The fundamentals of organi...

BA - Business Administration
BA 2283
All Professors
Corporations - Reference Guides

Corporations are explained with clarity and precision in this informative Guide! This guide helps to remove some of the confusion that popularly exists concerning the purpose, the extent, and the legal effect of different ...

BA - Business Administration
BA 2283
All Professors

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