Donald Stengel

Managers and analysts routinely collect and examine key performance measures to better understand their operations and make good decisions. Being able to render the complexity of operations data into a coherent account of significant events requires an understanding of how to work well in the electronic environment with raw data. Although some statistical and financial techniques for analyzing data are sophisticated and require specialized expertise, there are methods that are understandable and applicable by anyone with basic algebra skills and the support of a spreadsheet package. While specialized software packages may be used in a particular business setting, Microsoft Excel is routinely available on computer desktops. Managers who have been in the field any length of time may not be sufficiently familiar with the capabilities of Excel to make optimal use of its functionalities. Prior to undertaking a program to pursue executive training, managers who are refreshed with basic algebra skills and the capabilities of Excel will be prepared to develop a richer understanding from their more advanced work.

Executives and managers hear or read headlines about recent economic data nearly every business day. Most important economic statistics are the products of programs designed to collect and analyze data to report summary results at regular intervals. Properly interpreted, these economic indicators provide useful barometers for different aspects of the economy and identify trends that aid better planning decisions. Economic indicators are available at the national level, state level, and even the regional and municipal level. This text focuses on economic indicators for the overall U.S. economy, identifying major categories of economic indicators and describing the key indicators in each of the categories. The text will also provide guidance for interpreting indicators expressed in terms of an index (which reports values as percentage of a base period value) or in real dollar values (which remove the impact of inflation.) Most key economic indicators are reported promptly on the World Wide Web and provided as formatted time series that can be readily downloaded and analyzed. The text will include links to the sources for key economic indicators as well as websites that maintain calendars of upcoming announcements and consensus forecasts of the indicators shortly prior to a formal announcement. This book is a companion to two other Business Expert Press by the authors that address managerial economics and time series data/forecasting. Together these books will equip the manager and the student with a solid understanding of economic indicators and how to analyze them.

Managers and analysts routinely collect and examine key performance measures to better understand their operations and make good decisions. Being able to render the complexity of operations data into a coherent account of significant events requires an understanding of how to work well with raw data and to make appropriate inferences. This text is intended to describe these fundamental statistical techniques to managers, data analysts, and students. Statistical analysis of sample data is enhanced by the use of computers. Spreadsheet software is well suited for the methods discussed in this text. Examples in the text apply Microsoft Excel.

This text addresses the core of a subject commonly called managerial economics, which is the application of microeconomics to business decisions. Key relationships between price, quantity, cost, revenue, and profit for an individual firm are presented in form of simple conceptual models. The text includes key elements from the economics of consumer demand and the economics of production. The book discusses economic motivations for expanding a business and contributions from economics for improved organization of large firms.