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Managerial Economics : Theory and Practice

Managerial Economics : Theory and Practice

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Book DescriptionManagerial economics is the application of economic theory and quantitative methods (mathematics and statistics) to the managerial decision-making process. This book will appeal to students with limited prior training in economics and quantitative methods. It assumes that students will have had mathematics training at least through pre-calculus and that they have had a course in elementary statistics. It also expects students to have had an undergraduate course in intermediate microeconomics.

The book includes these features:
* An Online Instructor's Manual
* An Online Study Guide
* A problem-solving approach to the study of managerial economics that combines the features of a standard managerial economics textbook with those of a separate study guide.
* A method for helping business students develop the analytical skills necessary for success in the study of managerial economics, finance, and management.
* A more extensive review of mathematical techniques than most comparable textbooks.
* A separate chapter on game theory, including:
* Noncooperative, simultaneous-move, one- shot games
* Cooperative, simultaneous-move, infinitely- repeated games (including collusions, cheating rules, and determinantsof collusive agreements)
* Cooperative, simultaneous-move, finitely- repeated games
* Focal-point equilibria
* Multistage games
* Bargaining with and without symmetric and asymmetric impatience
* A chapter on the time value of money and capital budgeting
* The accentuation of risk, uncertainty, and the economics of information throughout

Book Hooks:
* Practice oriented, avoiding complex theoretical explanations with cumbersome notation
* Problems are included in each section and are made integral to learning and understanding subjects
* Math review uses economic relationships instead of general notation
* Excellent balance among motivation, theory, and examples
* Clear exposition

Key Features:
Emphasizes utility and applicability, not innovation
Chapters conclude with:
* chapter review
* key terms and concepts
* chapter questions
* chapter exercises
* selected readings