個案資料

Economic Decision Making Using Cost Data: A Manager's Guide is a 6-chapter book published in 2013 by the Business Expert Press and written by Daniel Marburger of Arkansas State University and Ryan Peterson, a practicing accountant. In this book, the authors outline basic economic theory as a guide for managers in making business decisions involving unit cost estimates. In this context, they examine key economic concepts such as opportunity cost, demand theory, and cost theory as well as different approaches to cost accounting. The authors posit that cost accounting represents the results of previous outcomes and, as such, does not provide the information that managers need to make sound decisions moving forward. The authors examine the potential pitfalls that a manager may face when making decisions based on cost estimates and suggest how best to use economic theory to maximize a company's profits. In Chapter 1, What Does Economics Have to Do with Running a Business? (13 pages), the authors explore how economic principles can inform decisions. They posit that economics is the study of how people make decisions within a set of constraints and that managers can apply basic economic principles to make profitable business decisions. The concept of opportunity cost is explored and contrasted to cost-accounting estimates. The authors illustrate the impact of this difference on strategic decision-making through a discussion of the information and choices available to retail stores in a mall that loses significant customer traffic due to competition.

• Economics
• Financial analysis
• Cost accounting