Part Five V › Division III III › Section 533 533

The Organization of Production and Distribution

Subject Outline

AThe organization of the production of goods
- 1Analysis of costs and output in the short run: the production function, substitution, the relationship of marginal cost to market price, marginal product
- 2Analysis of costs and output in the long run for profit maximization and cost minimization
BThe organization of the distribution of goods
- 1The relation between the productive process and the incomes derived from it [see also 534.A.2. and A.3.b.]
- 2The earnings of land, labour, and capital employed in the productive process
CThe inputs of the productive process
- 1Labour as an input in the productive process
  - aThe labour force: size, quality, and deployment of work force
  - bMethods of fixing rates of pay
  - cThe structure of pay: differences in the earnings of various occupations
  - dChanges in the general level of pay
  - eEmployment and unemployment
  - fThe economic and social status of temporary, seasonal migrant labourers
  - gThe organization of unions
  - hThe influence of the union on the supply of labour, wages, and output
  - iCapital elements in labour: education and training
  - jThe economic role of managers and entrepreneurs
- 2Land and raw materials as inputs
- 3Energy as an input
- 4Capital as an input in the productive process
DInstitutional arrangements that facilitate production and output
- 1The nature and characteristics of money
  - aThe basic functions of money
  - bThe various forms of money
  - cThe quantity theory of money: views of classical and neoclassical monetary theorists, views of Keynesian income theorists
- 2The monetary functions of commercial banks and central banks
  - aHistorical development of banking systems
  - bThe structure of modern national banking systems
  - cPrinciples and functions of commercial banking systems
  - dPrinciples and functions of central banking systems
  - eThe money market: various national and international markets for short-term funds
  - fInternational monetary institutions: proposals for future monetary cooperation and an international currency unit [see also 535.B.2.]
  - gThe market for long-term funds: savings institutions, the stock and bond markets, credit unions, mortgage institutions, farm cooperative banks, insurance institutions, mutual funds, pension funds
  - hThe nature and functions of government credit agencies
- 3The use of economic statistics in the determination of production and output
  - aNational income statistics
  - bPrice statistics: the use and construction of indexes of retail and wholesale prices
  - cEconomic forecasting
- 4The business corporation
EAgricultural economics
- 1The relationship between agricultural and economic development
- 2Efforts to control prices and production in agriculture: government price supports, subsidies, and acreage limitations
- 3The behaviour of farm prices and the consequences for the incomes of farmers
- 4The effect of technology on world agriculture: the increase in acreage and in crop yields
- 5The organization of farming: types of farms
FThe geographical distribution of resources and markets: international trade
- 1Classical and contemporary theories of international and interregional trade
- 2National and regional factors influencing trade
  - aTariffs, embargoes, and quotas imposed to obtain revenue, protect domestic industry, and secure a favourable balance of payments
  - bChanges in the conditions of production: costs, labour, and technology
  - cPrice movements
  - dNational domestic taxes and subsidies [see also 534.B.4.]
- 3International trade arrangements
GThe role of government in production and distribution
- 1The theory of public expenditures: the role of taxation in the budgetary process and problems of effective tax administration
- 2The justification of the government's claim to share in resource use: problems of balancing resource consumption between the public and private sectors
- 3The growth in government spending in the 19th and 20th centuries: the rise in military and social welfare expenditures
- 4Government operation of basic industries
HMethods of business organization
- 1The keeping of accounts
  - aAccounting as an information system
  - bVarious types of company financial statements; e.g., the balance sheet, the income statement
  - cPrinciples of accounting measurement: asset and cost measurement
  - dCost accounting: formulation of budgetary plans, performance reports, profit analyses
- 2The management of business funds
  - aShort-term and intermediate-term financial operations: planning and control, the cash budget, accounts receivable, inventories
  - bLong-term financial operations: the design of capital structure and the issuance of securities
  - cConsolidations and mergers
- 3The management of human resources: personnel administration
  - aPersonnel departments: their functions and services
  - bManpower planning, recruitment, and placement
  - cEmployee training and development
  - dMethods of maintaining employee incentive and commitment
- 4The administration and control of production
  - aThe flow channels of information and materials
  - bThe control function: maintaining conformity between operations and the plan
  - cProduction scheduling
  - dInventory adjustment
- 5The distribution of goods
  - aThe functions of a marketing department in a large firm
  - bRetailing
  - cWholesaling
  - dMarketing goods to industry, marketing farm products
  - eThe application of market research techniques to merchandising
IAdvertising
JThe distribution of risk
- 1The nature of insurance
- 2Fire and marine insurance
- 3Casualty and surety insurance: liability insurance, theft insurance, aviation insurance, workmen's compensation or industrial injury insurance, credit insurance, title insurance, suretyship
- 4Private life and health insurance
- 5Government-sponsored and/or government-administered health insurance [see 534.B.4.C.]
- 6Underwriting of risks: rate making
- 7Legal aspects of insurance
KConsumer credit
- 1Types of consumer credit: installment loans and noninstallment, or single-payment, loans
- 2Historical development of consumer credit in industrialized countries
  - aLending institutions and the question of interest rates
  - bCosts and hazards of consumer credit