Welcome text by Prof Patrick McNutt

A very warm welcome to the new software tool called Kaelo . The origin of the word is Romany gypsy, meaning black in colour, and I first heard it as a name when used by my grandmother for her black Irish collie pup. The software will help to guide you through some of the foundation steps in microeconomics. The illustrations will capture the concepts of demand and elasticity, introduce the Marris model of management behaviour, explain the basics of the concentration ratios as deployed in modern antitrust and introduce you to the foundations of basic non cooperative game theory. Kaelo compliments the executive support materials located on my web page www.patrickmcnutt.com . It also compliments the e-learning initiatives for the Managerial Economics module under the auspices of the Manchester Business School Worldwide at www.mbs-worldwide.ac.uk . Kaelo is a prototype version and we welcome your feedback on how it can be improved. Please note that we are working on new developments for Kaelo as we strive to integrate e-leaning tools with on-line discussions and course work support.

Links to flash files: 10 principles

1. Price and Demand
2. Cobweb reactions
3. Marris Model
4. Zero Sum
5. Elasticity
6. Total revenue
7. Price Reaction
8. HHI Concentration
9. Game theory
10. Oysters and Net Revenue

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