Principled Prosperity In Practice
"The first man gets the oyster, the second man gets the shell". Andrew Carnegie

Many of the largest and most successful corporations know that among business and financial advisors, economists are
uniquely equipped with the essential skills to provide them with an information advantage. Even though almost every major
corporation has their own economists on staff, the role of a managerial economist or business economist continues to remain a
mystery to many that must ask:

"What can a managerial economist do for me and for my business that I can't do myself or that my bankers, stockbroker,
attorneys, CPAs, MBAs, and other advisors can’t?"   What makes managerial economists unique?

The revolutionary advances in technology and communications has made the modern market economy the most complex and
efficient information network that has ever existed. Economists are the social scientists who study the system, model it, and
understand how it functions.

Managerial economists, are social scientists like sociologists and psychologists, and as such are specifically trained in
scientific methods to critically evaluate and interpret information and data; and then to predict the most likely resulting human
behavior.  Managerial economists are specifically trained to consider how such factors as technology; personal motivations and
personality types affect financial, investment, production and purchasing decisions.  In order to help our individual and corporate
clients adapt to, and prosper in, a rapidly changing technology / information driven economy, we must be able to employ various
techniques, skills, and strategies.

As managerial economist, we apply economic theory, policy and analysis to the daily "real world" / "bottom line" practices of
individual investors, businesses, organizations, and institutions. We help with investment, resource allocation and other
managerial decisions, in comparing and selecting among economic alternatives, to maximize the value of the firm or investment.

We can prepare economic forecasts of the rate of technology utilization, GNP, personal income, interest rates, exchange rates,
inflation, employment, and whatever other variables may affect a particular company and guide the planning and budgeting
decisions. We are also frequently called upon to apply our economic training to solve specific problems within the firm’s internal
operations, such as capitalization, decision support services, information systems, determining prices, inventory levels and
advertising outlays.

Managerial economics incorporates more than macro and microeconomic theory. It also requires the thorough understanding,
application, and integration of those practices, principles, and techniques from other areas of accounting, finance, marketing,
production, legal, governmental, personnel and other functions and disciplines associated with the profitability of the firm.

We generally serve in an advisory capacity to individual investors, to corporate CEOs, business owners, and professionals.  Our
duties are not set, but depend upon the unique needs of our client company or individual. We are the problem solvers. More
importantly, we strive to prevent the problems in the first place. Not only must the managerial economist be proficient in all
aspects business and finance, but we must have the insight as to how they interact and anticipate any changes in human /
consumer behavior.

Economists perform a wide variety of functions. We are concerned with the design, promotion, price and distribution of a
products or services. We provide information necessary to identify and define marketing opportunities: generate, refine and
evaluate marketing actions, and monitor marketing performance. We design and develop surveys and evaluate data. We make
recommendations based upon findings and suggest a course of action. We provide our clients with information to make
decisions of the promotion, distribution, design and pricing of company products or services or to determine the advisability of
adding new lines of merchandise, opening new branches or diversifying the company’s operations.

Managerial economists are particularly proficient in understanding and interpreting financial matters like financial managers,
financial analysts, investment advisors, accountants, auditors, underwriters, actuaries, credit analysts, loan and budget officers.
We are also involved in social research including the planning and implementation and analysis of surveys to determine people’
s needs and wants, and as well as consumer preferences.

Because of our overall knowledge of a company’s inner workings and the economic factors affecting a company, managerial
economists are frequently asked to serve on important company committees. Whether to a committee or privately to the CEO, our
presentation of data, analysis of issues and problems, suggested alternatives and recommendations of plans of actions, can
have an important influence on key investment and business decisions. Consequently, we must exercise prudent judgment
supported by ample accurate data and information, as well as a thorough analysis thereof.

Therefore, economists are trained to devise and develop methods and procedures for obtaining the data they need. More
importantly, unlike most other consultants, CPAs, attorneys, and advisors; economists are schooled in scientific methods. As
such, they are uniquely qualified to critically review, analyze, and evaluate date collected by others.

It is this ability and training to determine and identify the accuracy and validity of information that sets the managerial economist
apart from other "advisers" and makes him an especially critical resource in a volatile economy.