Task Team of FUNDAMENTAL ACCOUntING hool of Business, Sun Y at-sen University Lesson notes Lesson 2: Economic Transactions and Accounting Equation Learning objectives This lesson begins with a discussion of the purpose of a business, including a discussion of forms of organizations. Next, the nature of

Outline Enterprises Accounting Transactions, Accounting Events, and Accounting Circumstances Economic Activities and Accounting Elements Accounting Equation Task Team of

1. The ownership structure of a business includes the following forms: A. Individual, group, corporate. B. Sole proprietorship, partnership, or corporation D. Debtors, creditors, and ownesancia C. Service, manufacturing, and financial. 2. Which of the following is NOT true concerning a sole proprietorship? A. A sole proprietorship is a company

Introduction This lecture, as well as the next, exemplify applications of the framework and techniques developed so far to problems of economic interest. Neither lecture attempts to cover the example applications in any generality, of course; you may however find these topics of sufficient interest to warrant further study Auction theory is generally indicated as one of the \success stories\of game theory There is no doubt that the game-theoretic analysis of auctions has informed design decisions

Organizational Environment Organizational Environment: those forces outside its boundaries that can impact it. Forces can change over time and are made up of Opportunities and Threats. Opportunities: openings for managers to enhance revenues or open markets. New technologies, new markets and ideas. Threats: issues that can harm an organization. economic recessions, oil shortages

Introduction Beginning with this lecture, we focus our attention on dynamic games. The majority of games of economic interest feature some dynamic component, and most often payoff uncertainty as The analysis of extensive games is challenging in several ways. At the most basic level describing the possible sequences of events(choices) which define a particular game form is not problematic per se; yet, different formal definitions have been proposed, each with its Representing the players information as the play unfolds is nontrivial: to some extent

Macroenvironmental forces World trade enablers Asian economic power Rise of trade blocs International monetary crises Use of barter countertrade Move towards market economies Global lifestyles C2000 Prentice Hall

Primary Readings: DL-Chapter 4; JR-Chapter 3; Varian-Chapter 7 In most economic models, we start with an agent's utility function. The utility function basically maps from bundles that the agent might choose, to the real line. The utility function is quite convenient: it can be maximized and manipulated using mathematical tools. But the question is are we imposing some hidden or desirable assumptions when we take this approach ?prefeent's

Inflation Is a Fundamental Constraint on Economic Policy

ECSNOMICS Incomes and Human Development Are Linked. but Some Countries do better for Their Income levels