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Full Description
Teach your MBA students how to use economics to solve business problems with this breakthrough text. Froeb/McCann's MANAGERIAL ECONOMICS: A PROBLEM SOLVING APPROACH, 2E, International Edition covers traditional material using a problem-based pedagogy built around common business mistakes. Models are used sparingly, and then only to the extent that they help students figure out why mistakes are made, and how to fix them. This edition's succinct, fast-paced presentation and challenging, interactive applications place students in the role of a decision maker who has to identify mistakes that reduce profits, and propose solutions to bring profits back up. The lively book provides an excellent ongoing reference for students pursuing business careers. New chapters and updates highlight mistakes that precipitated the financial crisis. With MANAGERIAL ECONOMICS, 2E, International Edition your students are taught to use economics to not only identify profitable decisions, but also how to implement them within an organization.
Contents
Preface: Teaching Students to Solve Problems. Part I: PROBLEM SOLVING AND DECISION MAKING. 1. Introduction: What This Book Is About. 2. The One Lesson of Business. 3. Benefits, Costs, and Decisions. 4. Extent (How Much) Decisions. 5. Investment Decisions: Look Ahead and Reason Back. Part II: PRICE, COST, AND PROFIT. 6. Simple Pricing. 7. Economies of Scale and Scope. 8. Understanding Markets and Industry Changes. 9. Relationships Between Industries: The Forces Moving Us Towards Long-Run Equilibrium. 10. Strategy, the Quest to Slow Profit Erosion. 11. Using Supply and Demand: Trade, Bubble, Market Making. Part III: PRICING FOR GREATER PROFIT. 12. More Realistic and Complex Pricing. 13. Direct Price Discrimination. 14. Indirect Price Discrimination. Part IV: STRATEGIC DECISION MAKING. 15. Strategic Games. 16. Bargaining. Part V: UNCERTAINTY. 17. Making Decisions with Uncertainty. 18. Auctions. 19. The Problem of Adverse Selection. 20. The Problem of Moral Hazard. Part VI: ORGANIZATIONAL DESIGN. 21. Getting Employees to Work in the Firm's Best Interests. 22. Getting Divisions to Work in the Firm's Best Interests. 23. Managing Vertical Relationships. Part VII: WRAPPING UP. 24. You Be the Consultant.
