Table of Contents
Introduction to ECON 103
Why take this class?
What will we do?
Managerial Economics . . .
What does the manager do?
How Much is a Firm Worth?
Discounting
Discount Rate
The General Formula for Present Value (PV)
Derivation of PV
More on PV Formula ...
PV Formula For Gains Beyond One Year
The PV of an Income Stream You receive $100 a year from now & $150 in 2 years. The discount rate = 5%.
Max Profits or Max PV?
What are profits?
Why do firms make profits?
Frictional Profits
Monopoly Profits
Innovation Profits
Compensatory Profits
Does ethics affect value?
Summary of Chapter 1
Summary of Chapter 1
Summary of Chapter 1
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