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Full Description
The new edition of the best-selling managerial economics textbook, extensively updated to reflect current examples, data, and research
Now in its tenth edition, Managerial Economics introduces the complex decision problems facing today's managers, equipping undergraduates, MBAs, and executives with the economic knowledge and analytical skills required to solve these problems. Going beyond the traditional academic approach to teaching economic analysis, this comprehensive textbook favors practical examples and skills rather than theoretical treatments, illustrating how managers use various economic methods in the modern business environment.
Designed to strengthen critical thinking skills, each chapter opens with a central managerial problem that challenges readers to consider and evaluate possible choices and concludes with a detailed review and analysis of the decision using the concepts introduced in the chapter. Numerous decision-making examples, mini-cases, end-of-chapter problems, and real-world applications reinforce students' quantitative understanding without overwhelming them with an excessive amount of mathematics.
New to this Edition:
New coverage of responses to the medical and economic risks posed by the Covid-19 pandemic, advances in Artificial Intelligence (AI), and the disruptive impact on the PGA tour caused by the rival LIV golf tour funded by Saudi Arabia
New section on how a nationwide seller can optimally site an e-commerce distribution center
New discussion of current topics, such as how Taylor Swift changed the negotiation playing field in creating and distributing the movie of her 2023 Eras Tour
New examples of actual managerial behavior and practice based on the latest economics and decision analysis research
New and updated end-of-chapter problems, references, discussion questions, and internet links
Wiley Advantage:
Presents an applications-based approach to managerial decision-making with emphasis on real-world practice
Covers a wide range of core topics including optimal decisions and pricing, demand and cost analysis, decision making under uncertainty, strategic analysis using game theory, bargaining and negotiation, and international trade
Integrates discussion questions in each chapter that frame broader economic issues, such as monopoly practices, competitive market equilibrium, and government regulation
Provides students and instructors optional appendices that delve deeper into important advanced topics
Includes a study guide for students with multiple-choice questions, quantitative problems, essay questions, and mini-cases
Provides a companion website with an instructor's manual, teaching suggestions, examples, links to current articles and cases, and a comprehensive test bank
An Interactive, Multimedia Learning Experience
This tenth edition of Managerial Economics includes an enhanced e-text that engages students with a variety of video and interactive content designed to complement and enrich the reading experience. Every new copy of the paperback textbook includes access to the e-text, and the video and interactive content is signposted throughout.
Contents
1 Introduction to Economic Decision Making 1
2 Optimal Decisions Using Marginal Analysis 18
3 Demand Analysis and Optimal Pricing 57
4 Estimating and Forecasting Demand 95
5 Production 141
6 Cost Analysis 171
7 Perfect Competition 208
8 Monopoly 238
9 Oligopoly 259
10 Game Theory and Competitive Strategy 293
11 Regulation, Public Goods, and Benefit-Cost Analysis 329
12 The Economics of Non-profit Organizations 365
13 Decision Making under Uncertainty 390
14 The Value of Information 422
15 Asymmetric Information and Organizational Design 452
16 Bargaining and Negotiation 480
17 Linear Programming 505
Index I- 1
