Tài liệu ôn thi cuối kỳ - Nguyên lý quản lý kinh tế FTU

ÔN THI CUỐI KỲ Chapter 1: Introduction to Economics Management Contents ● Overview of economics ● Overview of economic management Overview of economics Concept A. Marshall “A study of mankind in the ordinary business of life; it examines that part of individual and social action which is most closely connected with the attainment and with the use of the material requisites of wellbeing” Dịch: "Một nghiên cứu về con người trong cuộc sống kinh doanh hàng ngày; nó xem xét phần hành động của cá nhân và xã hội mà liên quan chặt chẽ nhất đến việc đạt được và sử dụng các yếu tố vật chất đáng có của cuộc sống" - A. Marshall Most interested: L. Robin Most interested: ○ "The science which studies human behavior as a relationship between (given) ends and scarce means which have alternative uses Dịch: "Khoa học nghiên cứu hành vi con người như một mối quan hệ giữa mục tiêu (đã cho trước) và các phương tiện khan hiếm có thể sử dụng thay thế - L. Robin" Most popular: Mankiw, 2008 “Economics is the study of how a society manages its scarce resources. In most societies, resources are allocated … through the combined choices of millions of households and firms.” “Study on economic agents in production and consumption products” Production factors (supply side) Labor Land Capital Technology Consumption factors (demand side) Foreigners (investment) Consumers Economy Governments (expenditure) Enterprises Objective, and scope of economics ○ Study on production, distribution, and consumption of products and services ○ Explanation of the movement of an economy and the interaction among economic agents Classification Scope Approach Macroeconomics: Study of the economy as a whole. The goal of macroeconomics is to explain the economic changes that affect many households, firms, and markets simultaneously Normative economics is used to judge whether economic events are desirable or not Kinh tế học chuẩn tắc là một quan điểm về kinh tế học phản ánh các qui tắc, hoặc qui định về ý thức hệ, các phán đoán đối với phát triển kinh Microeconomics: Study of how individual households and firms make decisions and how they interact with one another in markets. tế, các dự án đầu tư, báo cáo và các viễn cảnh. Không giống như kinh tế học thực chứng dựa vào phân tích dữ liệu khách quan, kinh tế học chuẩn tắc rất quan tâm đến các phán đoán và tuyên bố chủ quan của "những gì nên xảy ra" thay vì các sự kiện xảy ra dựa trên mối quan hệ nhân quả. - An idea can be measured - For current economic status - Clarifying economic factors - Based on objective data and evidence - Being able to clarify - An idea is for preventive Positive economics is concerned with how an economy behaves Dựa vào số liệu quan sát thực nghiệm khách quan - For future economic prospects - Clarifying what should belong to the economy - Based on the truth and logical ideology - Not being able to clarify Methodology ○ Data collection ○ Deductive (diễn dịch) and inductive (quy nạp) methods ○ Economic models with Hypothesis ○ Empirical and Findings for Implications Overview of economic management Concepts States should cover some basic functions: Neo-classical school Kinh tế học tân cổ điển (tiếng Anh: Neoclassical Economics) là một lí thuyết rộng nghiên cứu tập trung vào cung và cầu là động lực thúc đẩy sản xuất, định giá và tiêu thụ hàng hóa và dịch vụ. Đơn giản hoá, tập trung vào tạo điều kiện phát triển kinh tế ● Maintaining political stability ● Creating a stable environment and reasonable fiscal policy (reasonable expenditure to meet the requirement of economic development) ● Encouraging consumers → The function of the government is to create a favorable business environment Keynesian school Keynes tán thành việc tăng chi tiêu của chính phủ và giảm thuế để kích thích nhu cầu và kéo nền kinh tế thế giới thoát khỏi suy thoái. Sau đó, kinh tế học Keynes đã được sử dụng để đưa ra định nghĩa rằng hiệu quả kinh tế tối ưu có thể đạt được và sự suy thoái kinh tế được ngăn chặn bằng cách đến tác động đến tổng cầu thông qua chính sách của chính phủ nhằm ổn định hoạt động và can thiệp vào nền kinh tế. Kinh tế học Keynes được coi là một lí thuyết "phía cầu" tập trung vào những thay đổi ngắn hạn trong nền kinh tế. ● The interference of the government in the economy is to release crisis, unemployment, and slowdown ● The government should invest in public programs to encourage and maintain economic growth ● Intervention channels: ● Fiscal policy: Taxation and government expenditure ● Monetary policy: Increase in money supply with “inflation level under control” ● Measures to initiate investment → An economy cannot regulate itself perfectly (bởi external factors), thus, to foster economic growth the government needs to interfere (can thiệp) in the economy (through fiscal policy, monetary policy,...) “New” Keynesian school For the financial market and Labor market ● Focusing on 4 important issues: ● Effective salary ● Labor market: in lack of laborer’s manners – their action is not supervised effectively – labor contract could not cover all unexpected outcomes caused by laborers → Sometimes causes conflicts between employers and employees ● The optimal salary of a company will depend on its counterparts/rivals. ● Imperfection of capital market ● The imperfection of capital market: asymmetric (bất đối xứng) information between enterprises and potential investors ● Enterprises try their best to borrow money from banks and financial institutions ● Increase in business risk when enterprises cannot sell their products ● Lack of future markets (Case: Tôi là công ty xk, có một hợp đồng rất tiềm năng nhưng tôi không đủ vốn, tôi phải mượn tiền từ bank hoặc bán lại hợp đồng để xoay vốn - Bán lại hợp đồng là ở Future market) ● Taking consideration business risk when expanding operation ● Line of credit (Hạn mức tín dụng) ● Credit line as a result of ● Business risk ● The increase in capital demand but no increase in interest rate correspondingly by financial institutions ● The reduction in profit expectation of financial institutions caused by unexpected changes in policies ● The role of monetary policy ● Belief improvement for cash keepers to keep cash at the minimum level for higher money circulations. ● The central bank can intervene in commercial banks to encourage them to supervise credit activities based on economic status Marshall’s opinion ● The demand-supply relationship forms price and quantity ● Consumer surplus: the price is typically the same for each unit of a commodity that a consumer buys, but the value to the consumer of each additional unit declines ● Producer surplus: The difference between the price a company is willing to sell and the actual price a consumer pays ● Market will adjust demand-supply relation into 3 periods: ● Market period: The period of inventory stability ● Short-term period: Adjustment in labor and other inputs (capital excluded) to increase output ● Long-term period: Capital can be adjusted for changes in output ● Economies of scale and monopoly: ● Labor division to help get internal economies of scale ● Exploiting internal economies of scale help enterprises scale improvement, but they do not become monopolies due to innovation and business cycle ● External economies of scale help enterprises disseminate (phổ biến) information and product differentiation → Monopoly advantages are only short-term due to the changes in technology and structural flexibility of enterprises ● To achieve dynamic economies: a synchronous (đồng bộ) change in technology, institution, and consumer behavior is significant ● Labor and organization are essential for production, enterprises can be successful if they can: ● Understand thoroughly their industries ● Have good leadership skills ● Anticipate well the demand-supply fluctuation and be ready to adapt to the changes Institutional (thể chế) opinion: ● Agreeing with the state interferes in the economy: law and regulations should interfere in capitalist production. ● “The evolvement of institutional opinions, the especially institutional state is a driving force for the development of modern society, its interference is the best measure to solve the conflicts of capitalism” Nature ● Economic management is a science ● Wide acceptance of principles ● Test and observation ● Cause and effect ● Test of suitability and expectation ● Economic management is an art ● Practical knowledge ● Personal expertise ● Innovation ● Completion via practice ● Economic management is professional (have to combine a lot of knowledge) ● Systematic knowledge ● Formal methodology ● Consulting and training skills ● Professional contact code (?) ● Adaptation of social demand Principles - A managerial principle is a broad and general guideline for decision-making and behavior - Flexible process - Procedures or methods involving a series of steps to be taken in the accomplishment (~achivement) of desired goals - Guidelines to take decisions or actions while practicing techniques Theories on management Ancient ideas Capitalism ideas Mac school Chinese ideas Scientific management Mac ideology Greek ideas Administrative management theory Lenin Vietnamese ideas Theory of Human Motivation Market-oriented management Ancient ideas ○ Chinese ideas – Kong Qui (Khổng Tử) ○ The importance of having a good moral character – social stability ○ The importance of education ○ The role of family → ancestor worship → One of the most influential philosophies in China and surrounding countries now Chinese ideas and their effects ○ People-oriented: Chinese people believe in the human effort, thinking all things, no matter how important or trifle, big or small, can be done well by human beings ○ Like-minded people working together led by a powerful leader ○ Making rational adjustments based on changing circumstances → The role of cultural aspects in business and management. Capitalism ideas ○ Scientific management (Federick Winslow Taylor 1856 – 1915; Frank & Lillian Gilbreth and Henry L. Grant) ■ Management will be implemented by empirical study or historical data. ■ The authors try to improve productivity and economic efficiency. ■ Principles (Taylor) ● Choose methods based on scientific ideas ● Assign workers to tasks based on their natural skillset ● Monitor workers’ performance. ● Divide workloads appropriately among workers and managers ■ Pros: ● A big contribution to the development of management ideology ● The contribution of labor specialization and division to the development of managerial expertise ● The pioneer of recruitment and training policy and reward for productivity improvement ■ Cons: application only on the stable environment and economic-bias reward in management