RUANG LINGKUP

EKONOMI MANAJERIAL
Dosen: Dr. Erlina Pakki, SE.,MA

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 SUB POKOK BAHASAN
1. Pengertian Ekonomi Manajerial
2. Masalah Keputusan Manajerial
3. Teori Perusahaan
4. Bentuk dan Fungsi Laba

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 BAHAN BACAAN
1. Pappas, James L., & Mark Hirschey, Managerial
Economic, Sixth Edition, International Edition, the
Dryden Press, Chicago, 1998.
2. Salvatore, Dominick, Managerial Economics in
Global Economy, Fifth Edition, McGraw-Hill, Boston,
2004.
3. Evan J. Douglas, Managerial Economics Analysis
and Strategy, Fourth Edition, Prentice-Hall
International, Inc., 2006.

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 Pengertian Managerial
Economics
• Pappas & Hirschey - “Managerial economics
applies economic theory and methods to
business and administrative decision-making.”
(Menerapkan teori dan metode ekonomi dalam bisnis
dan pengambilan keputusan administratif. Karena
menggunakan alat-alat dan teknik analisis ekonomi
untuk memecahkan masalah manajerial, manajerial
ekonomi mengkaitkan ekonomi tradisional dengan
ilmu keputusan untuk mengembangkan alat penting
bagi pengambilan keputusan manajerial).
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 • Salvatore - “Managerial economics refers
to the application of economic theory and
the tools of analysis of decision science to
examine how an organisation can achieve
its objectives most effectively.”

(Aplikasi teori ekonomi dan

perangkat analisis ilmu keputusan
untuk membahas bagaimana suatu
organisasi dapat mencapai tujuan
atau maksudnya dengan cara yang
paling efisien).
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 • Douglas - “Managerial economics is ..
the application of economic principles
and methodologies to the decision-
making process within the firm or
organization.”

• Managerial economics deals with

microeconomic reasoning on real world
problems such as pricing decisions
selecting the best strategy in different
competitive environments.

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 Proses Pengambilan Keputusan
(Gambar 1.1)

Masalah Keputusan Manajemen

Harga dan Keluaran Produk, Membuat atau
Membeli, Teknik Produksi, Tingkat Sediaan,
Media dan Intensitas Periklanan, Penerimaan dan
Pelatihan Tenaga kerja, Investasi dan Pendanaan

Konsep Ekonomi Ilmu Keputusan

Kerangka Kerja Ekonomi Manajerial Alat dan Teknik
untuk Keputusan : Penggunaan Konsep Ekonomi dan Analisis: Analisis
Teori Perilaku Metodologi Ilmu Keputusan untuk Numerik, Estimasi
Konsumen, Teori Statistik, Peramal-
Memecahkan Masalah-masalah
Perusahaan, Teori an, Teori Permain-
Keputusan Manajerial
Struktur dan Pene- an, Optimisasi
tapan Harga Pasar

Pemecahan Optimal terhadap Masalah-

masalah Keputusan Manajerial
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 (Gambar 1.2)

MICRO
EKONOMIC
FINANCE STATISTI
C

ECONOMET MARKETIN
RIC G
MANAGERIAL
ACCOUN EKONOMICS COMPETITIVE
TING STRATEGY

MACRO
MATHEMA
ECONOMIC
TIC

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 (Gambar 1.3 )

1. Establish and Identify Objectives

2. Define the Problem

3. Identify Alternative Solutions

Consider
Consider Organizational
Societal 4. Evaluate the Alternatives
& Input
Constraints and Select the Best! Constraints

5. Implement and Monitor

the Decision
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 Teori Perusahaan
• PERUSAHAAN : SUATU ORGANISASI
YANG DIDIRIKAN OLEH SESEORANG
ATAU/ KELOMPOK ORANG ATAU/
BADAN LAIN YANG KEGIATANNYA
ADALAH MELAKUKAN PRODUKSI &
DISTRIBUSI GUNA MEMENUHI
KEBUTUHAN EKONOMI MANUSIA.

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Tujuan Perusahaan (Objectives of the Firm)
• Maksimisasi Laba (profit maximization)
• Kesejahteraan Pemegang Saham (Shareholder
wealth) = nilai setiap lembar saham (V0) dikali
jumlah saham yang beredar, atau
V0 · (shares outstanding). Menggambarkan PV dari
laba yang diharapkan di masa yang akan datang
(π) atau cash flow yang didiskontokan pada tingkat
pengembalian yang diharapkan pemegang saham,
ke, yang mana pajak diabaikan.
∞
V0 (shares outstanding) =   t /(1+ke) t
t=1
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 Bentuk dan Fungsi Laba
t = REVENUE – COST = TRt – TCt = PtQt – VtQt - Ft
• Nilai Perusahaan (Value of the Firm) = Present Value (PV)
dari cash flow yang didiskonto.
N
(t ) / (1+ke)t =
t=1

N
(PtQt – VtQt – Ft) / (1+ke)t
t =1

• Whatever lowers the perceived risk of the firm (ke) will also
raise firm value.
• Whatever raises the price of the product (Pt) or the quantity
sold (Qt ) will raise firm value.
• Whatever raises variable cost (Vt )or fixed cost ( Ft ) will
reduce firm value.
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 Peranan Laba
• Economic Cost (or opportunity cost) is
the highest valued benefit that must be
sacrificed as a result of choosing an
alternative.
• Economic Profit is the difference
between revenues and total economic
cost (including the economic or
opportunity cost of owner supplied
resources such as time and capital.
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 Faktor-faktor yang
Mempengaruhi Harga Saham
Economic Environment Factors
1. Economic Activity
2. Tax Rates & Regulations
3. Competition
4. Laws and Governmental Regulation
5. Unionization
6. International Conditions & Exchange Rates
Major Policy Decisions Under Management Control
1. Products or Services Offered
2. Production Technology
3. Marketing and Distribution Network Used
4. Investment Strategies
Conditions in
5. Employment & Compensation Policies
Financial Markets
6. Ownership Form
7. Capital Structure Used 1. Interest Rates
8. Working Capital Management Policies
9. Dividend Policies 2. Investor
10. Alliances, mergers, spin-offs Sentiment
Amount, Timing, and Risk of Expected Profits 3. Expected
Inflation
Shareholder Wealth (The Market Price of the Stock)
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 Shareholder Wealth Maximization:
Necessary Conditions
• COMPLETE MARKETS - liquid
markets for firm's inputs and by-products
(including polluting by-products).
• NO SIGNIFICANT ASYMMETRIC
INFORMATION - buyers and sellers all
know the same things.
• KNOWN RECONTRACTING
COSTS future input costs are part of the
present value of expected cash flows.

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 Masalah Keagenan
• Modern corporations allow managers to have
no, or limited, ownership participation in the
profitability of the firm.
• Shareholders may want profits, but managers
may wish to relax.
• The shareholders are principals, whereas the
managers are agents.
» Conflicting motivations between these
groups are called agency problems.
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 Solusi Masalah Keagenan
• Compensation as incentive
• Extending to all workers stock options,
bonuses, and grants of stock
» It helps to make workers act more like
owners of firm
• Incentives to help the company,
because that improves the value of
stock options and bonuses.
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 Tugas Materi Pertama
• Buatlah ringkasan materi ruang
lingkup ekonomi manajerial.

• Diskusikan tugas tersebut di atas di

dalam kelas pada minggu berikutnya.

• Tugas dikumpul tepat waktu.

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 PENILAIAN
• Ringkasan Materi Pertama
memiliki bobot 60%.

• Diskusikan di dalam kelas berbobot

40%.

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 Terima kasih
& Selamat belajar

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