Traditional microeconomic theory has much to offer a manager. It suggests ways to increase profits by setting prices and packaging services, using advertising to increase demand and shows how internet auction sites like eBay affect competition and profitability. By using game theory to present and solve a manager’s decision-making problems and by focusing on the strategic nature of these problems, this text makes microeconomic theory much more intuitive and relevant for the business student. The text is separated into four sections: basic microeconomic theory of the firm and the basic tools of game theory problems related to the strategic interaction between firms, including price and quantity competition and product differentiation issues arising from strategic interactions within the firm, including vertical and horizontal integration, training and motivating workers, and labour unions marketing economics including information problems, advertising, durable goods and the product life cycle. This book will be suitable for any student with a background of introductory economics. The authors include a variety of international examples and case studies from the business world to expand and illustrate key concepts, and provide end-of-chapter exercises to test students’ grasp of the material. An online supplement comprising of problems and solutions as well as PowerPoint slides is available for lecturers.
For courses in Managerial Economics. A Problem-based Approach that Uses Modern Theories and Real-world Examples Managerial Economics and Strategy uses real-world issues and examples to illustrate how economic principles impact business decisions. Emphases on agency and contract theory, managerial behavioral economics, game theory, and pricing are especially valuable to future managers. In-text examples and boxed mini-cases use actual data to illustrate the use of basic economic models, while Q&As pose important managerial or economic problems and demonstrate a step-by-step approach to solving them. The Second Edition has been fully revised and updated to reflect new supply-and-demand curves and include discussions of corporate social responsibility, opportunistic behavior, and innovation. It also features new learning objectives, examples, end-of-chapter questions, and spreadsheet exercises.
This book explores the core concepts of managerial economics and supplements them with relevant caselets, examples, and detailed case studies. Students will find the book highly useful for its coverage of key concepts of managerial economics. The revised edition aims to provide an application-oriented focus to the subject.
This well-known book on the subject has stood the test of time for the last 35 years because of the quality of presentation of its text. It has become students’ favourite as it provides the latest theories, thoughts and applications on the subject with timely revisions to stay up-to-date all the time. Since its first edition, it has provided complete, comprehensive and authentic text on micro and macro aspects of managerial economics. It has now been revised thoroughly with added interpretations of economic theories and concepts and their application to managerial decisions. NEW IN THE EIGHTH EDITION • Summary at the end of each chapter for quick recap • One complete new chapter; several new sections Some New Important Sections • ‘Derivation of Demand Curve with Changing Marginal Utility of Money’, and ‘Why Demand Curve Slopes Downward to Right’ • ‘Expansion Path of Production’ and ‘Equilibrium of Multi-plant Monopoly’ • ‘Theory of Interest Rate Determination’ and ‘Monetary Sector Equilibrium’ • ‘Current Foreign Trade Policy of India’ and ‘Current Role of the IMF’ • ‘Monetary Policy’ and ‘Current Scenario of CSR in India’
Emphasizing economic tools for real world managerial applications, this work is aimed at students of managerial economics and those running courses on this topic who want to integrate calculus into their instruction.
Highly accessible, with a clear introduction to the subject for the non-specialist, this book covers all aspects of managerial economics. It also contains some material on corporate strategy and a section devoted to marketing issues.
This text integrates various statistical techniques with concepts from business, economics and finance, and demonstrates the power of statistical methods in the real world of business. This edition places more emphasis on finance, economics and accounting concepts with updated sample data.
Boyes introduces non-majors to the power of economics in business decision making. The text's intuitive approach clearly highlights how economics influences marketing, management, and other business-related decisions. In addition to traditional principles of price theory MANAGERIAL ECONOMICS examines organizational behavior, strategic management, human resource management, and emerging issues such as game theory, TQM, and information economics. MANAGERIAL ECONOMICS departs from convention to illustrate the role of economic intuition in making sound business decisions. While other texts focus on quantitative analysis, this book enphasizes logic and conceptual modeling -- reinforced by real-life examples -- to highlight the pivotal link between economics and key business concerns such as costs, prices, markets, and personnel. Students learn to weigh the strategic costs and benefits of each business choice, instead of relying on popular quick-fix solutions. Ideal for students in MBA programs and less quantitative courses, MANAGERIAL ECONOMICS demonstrates the power of economic insight on business decision making. Important Notice: Media content referenced within the product description or the product text may not be available in the ebook version.