CONTENTS -- PREFACE -- CHAPTER 1: INTRODUCTION TO MANAGERIAL ECONOMICS -- I. THE SUBJECTS OF ECONOMICS -- II. MANAGERIAL ECONOMICS -- III. THE TOPICS OF MANAGERIAL ECONOMICS -- CHAPTER 2: ECONOMIC SYSTEMS AND HUMAN BEINGS -- I. ECONOMIC SYSTEMS -- II. ECONOMIC SYSTEMS AND PEOPLE -- CHAPTER 3: MARKET ECONOMY AND PRICES -- I. MARKETS AND PRICES -- II. GOODS AND SERVICES MARKETS -- III. FOREIGN EXCHANGE MARKETS -- IV. CAPITAL MARKETS -- V. LABOR MARKETS -- VI. THE GLOBALIZATION OF MARKETS -- VII. PARITIES AMONG THE PRICES -- VIII.PRICES DETERMINED OUTSIDE THE MARKETS -- IX. SUMMARY -- X. TECHNICAL APPENDIX: SUPPLY AND DEMAND RULE -- CHAPTER 4: MISGUIDANCE OF THE MARKETS AND CRISES -- I. HIGH INTEREST - LOW EXCHANGE VICIOUS CYCLE -- II. INTEREST RATES AND PRICE OF RISK -- III. MARKET GAINS -- IV. CONCLUSION -- V. TECHNICAL APPENDIX: DISPARITIES AMONG PRICES -- CHAPTER 5: DEMAND THEORY -- I. ASSUMPTIONS OF DEMAND THEORY -- II. UTILITY AND NEEDS -- III. TECHNICAL APPENDIX: DEMAND ANAYLSIS IN THEORY -- chapter 6: demand estimation -- I. MANAGERIAL ECONOMICS APPROACH TO DEMAND ESTIMATION 70 -- II. STEPS FOLLOWED IN DEMAND ESTIMATION -- III. CONCLUSION -- chapter 7: production theory -- I. FACTORS OF PRODUCTION -- II. PRODUCTION FUNCTION -- III. RECENT DEVELOPMENTS IN PRODUCTION AND PRODUCTION FACTORS -- IV. PRODUCTION AND INCOME SHARING -- V. SUMMARY -- VI. TECHNICAL APPENDIX: PRODUCTION ANAYLSIS IN THEORY -- chapter 8. the objective of a company -- I. THE DEFINITION OF PROFIT -- II. THE DEFINITION OF VALUE ADDED -- III. THE CONFLICT BETWEEN PROFIT AND VALUE-ADDED MAXIMIZATION -- IV. CONCLUSION V. TECHNICAL APPENDIX: PROFIT MAXIMIZATION IN DIFFERENT TYPES OF MARKETS -- chapter 9: foreign trade -- I. THE FOREIGN TRADE MODEL OF ECONOMICS -- II. FOREIGN TRADE IN REAL LIFE -- III. CONCLUSION -- chapter 10. the new economic design -- I. COMPETITIVE CONDITIONS -- II. THE GENERAL AGREEMENT ON TARIFFS AND TRADE (GATT) -- iii. GLOBALIZATION AND TRADE BLOCS -- IV. RESISTANCE TO GLOBALIZATION 128.