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Now in its fourth edition, Ivan Png's Managerial Economics has been extensively revised with ** A completely new introductory chapter emphasizing decision-making and behavioral biases, ** Intensive application to current issues including the sub-prime financial crisis and global competition, as well as ** Streamlined presentation focusing on the economics that managers need to know. As always, the text presents the key concepts of micro-economics intuitively, without requiring any sophisticated mathematics. Throughout, it emphasizes actual management application, and links to other functions including marketing and finance. The new fourth edition is updated with fresh up-to-date discussion questions from all over the world and enhanced with detailed instructor supplements. It is an ideal text for any course focusing on the practical application of micro-economic principles to management.