Managerial Economics Second Edition

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.

A user-friendly problem-solving approach to managerial economics, with a focus on the transformative effects of the digital revolution.

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.

Fundamentals of Economics for Business is an innovative text designed specifically for students in business education programs. It provides a comprehensive yet accessible introduction to the key economic issues relevant to present or future business decision-makers. Reflecting the requirements of globalization, the content is international in scope and is applicable worldwide. The material is easily adaptable to courses of different lengths and educational objectives, including a one-semester MBA course, economics courses in an undergraduate commerce or business degree, or an executive MBA program.This second edition adds significant new material on production costs, managerial economics, growth and competitiveness, and includes new case studies with applications to international business.

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’

Intended primarily for Managerial Economics courses, this text also provides practical content to current and aspiring industry professionals. Economics is a powerful tool that can help managers to manage effectively. In Managerial Economics Jeffrey Perloff and James Brander use real-world issues and examples from actual markets to show future managers how economic principles can be used in business decisions. In text examples and boxed mini-cases use actual data to illustrate how to use basic models. For example, to illustrate rivalry in oligopolistic markets, the authors look at rivalry between United and American Airlines and between Coke and Pepsi. Mini-case examples include why American Apparel is vertically integrated and why upscale manufacturers limit the number of designer hand-bags a customer is allowed to buy. To help future managers learn to solve new problems, Perloff and Brander repeatedly demonstrate problem-solving through in-text Q&As. Each Q&A poses an important managerial or economic issue and demonstrates how to solve it using a step-by-step approach. Note: You are purchasing a standalone product; MyEconLab does not come packaged with this content. If you would like to purchase both the physical text and MyEconLab search for ISBN-10: 0133457087/ ISBN-13: 9780133457087. That package includes: ISBN-10: 0321566440 / ISBN-13: 9780321566447 Managerial Economics ISBN-10: 013314612X / ISBN-13: 9780133146127 MyEconLab -- NEW MyEconLab with Pearson eText -- Standalone Access Card -- for Managerial Economics MyEconLab is not a self-paced technology and should only be purchased when required by an instructor.