Managerial Economics - Hardcover

Now in its third edition, this highly readable, non-technical introduction to the essential microeconomic principles needed by business managers retains its global focus and economic rigor, and has been extensively updated and rewritten to include new and recent cases and examples from a multitude of countries and economic systems, applied to managerial situations. Written for managers rather than economists, this text uses mathematics strictly where it is absolutely necessary. This edition includes "mini-cases" at the beginning of each chapter, offers an expanded analysis of organizational boundaries and architecture, new coverage of oligopoly, the time value of money, and R&D, and adds a Wiki site where users may post their favorite examples. Utilizing economic analysis to spotlight topics in accounting, finance, human resources, and marketing, Managerial Economics, 3e employs a simple, pedagogic model, providing the most up-to-date and relevant information in the field.

Presenting the essentials of managerial economics in an accessible style, this book uniquely integrates the discipline to other managerial functions -- including accounting, finance, human resource management, and marketing. Managerial Economics teaches students how to make better business decisions, not how to build models.

Each chapter is centered around a real world business case study and develops this issue's relevant managerial economics principles in a straightforward manner. Examples of the major cases included in the text are:

• Coca Cola's vertical structure and pricing
  
• Breakeven at the Asian Wall Street Journal
  
• Fujitsu, Texas Instruments, and the DRAM industry
  
• Qwest's 230% excess capacity
  
• Northwest Airlines' pricing strategy
  
• Airbus' organizational architecture
  
• Microsoft vs. AOL in Internet service
  
• Amazon's vertical integration into warehousing

The discussions are reinforced with numerous supplementary cases, including Echo Bay Mines (Canada) and the Brisbane Concrete Cartel. Each chapter includes fifteen review questions underscoring basic principles, as well as over ten discussion questions applying these principles to recent business problems.

This second edition also emphasizes the economic principles of the 'new economy,' particularly scalability and network effects.

Managerial Economics is supported by an instructor's manual and on-line resources for students and instructors. Visit: http://www.comp.nus.edu.sg/~ipng/mecon.htm.