CHAPTER 1

FUNDAMENTAL OF
MANAGERIAL
ECONOMICS

Oleh: Dr. M.C. Sina Setyadi, MBA.

• Terminology in economics has two purposes :
First, the definition and formulas economists use are needed for
precision. Economics deals with very complex issues and much
confusion can be avoided by using the language economists have
design to break down complex issues into management components.
Second, precise terminology help practitioner of economics
communicate more efficiently
Basic mission
• Defender
• Initiator
• Analyzer
• Follower/Reactor
• Ada beberapa teori lain yg bisa menjelaskan ttg laba
-Risk bearing Theory of profit: penerimaan diatas normal
iperlukan untuk masuk suatu industry.
-Frictional Teory of profit : laba sbg hasil dari
friksi/pergesekan keseimbangan jangka panjang. Dalam
persaingan sempurna jangka panjang maka keuntungan
cenderung normal karena pelaku bisnis ada yang exit from
dan new entrants hal ini akan menekan keuntungan yang
diatas normal menjadi normal.
-Monopoly Theory of Profit.Perusahaan yg monpoli akan
membatasi outputnya dan menjual dg harga yang lebih
tinggi disbanding dengan yg dipasar persaingan sempurna.
-Innovation Theory of profit: bahwa laba ekonomis mrp
imbalan bagi innovator dan patent.
Managerial efficiency Theory of Profits: in the long run
maka bisnis hanya akan dapat keuntungan normal dan bisa
lebih beruntung adalah yg paling effisien dlm industry itu.
• Sunk Cost (biaya tertanam) : adalah biaya yg telah terjadi dan tdk dpt
diubah oleh keputusan apapun yg di buat saat ini ataupun masa yad :
Mis : beli mesi rp5 M empat tahun lalu skg sdh ketinggalan jaman
How these force influence industry profitability and how connection among
these forces
• ENTRY : hightens competition and reduce the margins of existing firm in wide
variety of industry settings ; existing for sustain profits depend on how barrier
to entry affect the ease with which other firm can enter the industry
• POWER of INPUT SUPPLIER : Industry profit tend to be lower when supplier
have the power to negotiate favourable term for their input. Supplier power to
be low when the inputs are relatively to standardise and relationship – specific
investments are minimal
• POWER BUYER: Industry profits tend to be lower when customer or buyer
have the power to negotiate favourable terms for the product or services
produced in industry
• INDUSTRY RIVALRY: Sustainability of industry profits also depend on the nature
and intensity of rivalry among firms competing in Industry.
• SUBSTITUTES AND COMPLEMENTS: The level of sutainability of industry profits
also depeond on the price and value interrelated product and services,
presence of close substitutes erodes industry profitability.
• UNDERSTAND INCENTIVEs: Within a firm, incentive affect how
resources are used and how hard workers work. To succeed as a
manager , you must have a clear grasp of the role of incenrtives
within an organization such as firm and how to construct incentives to
induces maximal effort from those you manage
• UNDERSTAND THE MARKETS: 4 Form
• Mis: orang punya rp 1000 saat ini akan akan lebih berharga dari pada
rp1000 satu tahun yad. : bisa krn inflasi bisa krn adanya kesempatan
investasi (ada untung). Kalau assumsinya 1 th untung 10 % maka rp
1000 manjadi rp1000 (1+ 10%) =rp 1.100,-
• Jadi nilai rp 1000,- satu tahun yad sama denga rp 1.100,- padasaat ini.
• Pertanyaanya berapa nilai skg uang rp 1000,- satu th yad ? Jwbnya :
rp xx (1+10%) = rp 1000,- rp xx= rp 1000,- :rp(1+10%) hasilnya = rp
909,09. dengan kata lain bahwa uang senilai rp 909,09 saat ini sama
dengan rp 1000,- satu tahun yad.
• Marginal Analysis
Is the one of the most important managerial tools.
Marginal analysis states that the optimal managerial
decisions involve comparing the marginal (or incremental)
benefits of a decision with the marginal (or incremental
cost).
Mis : untuk menaikan nilai ujian managerial ec. Maka
diperlukan tambahan jam (waktu) untuk belajar dan
tambahan biaya.
Marginal benefit: refers to the additional benefits that
arise by using an additional unit of the managerial control
variable
Marginal Cost: is the additional cost incurred by using an
additional unit of managerial control variable