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Reflecting the highly globalized nature of tastes, production, labor markets, and financial markets in today's world, Managerial Economics in a Global Economy, Eighth Edition, presents the theory of the firm as a unifying theme to examine the managerial decision-making process. Adopting a global perspective, it synthesizes economic theory, decision science, and business administration studies, examining how they interact as a firm strives to reach optimal profitability and efficiency in the face of modern constraints.
* Integrates examples, data, and theories on the international ramifications of managerial decisions into the entire text, rather than segregating the material in a separate chapter * Incorporates 127 case studies, showing how firms actually reach managerial decisions today * Offers instructors maximum flexibility with a modular structure that is suitable for both full-term and briefer courses, and can be used with or without calculus * Includes a robust instructor ancillary package for adopters
Dominick Salvatore is Distinguished Professor of Economics and Business at Fordham University in New York and Director of the Global Economic Institute. He is Honorary Professor at Shanghai Finance University, Hunan University, University of Pretoria, and LUM (Free University of the Mediterranean). Consultant to the Economic Policy Institute, several central banks, multinational corporations, and global banks, Dr. Salvatore is the author of more than fifty books and many articles in economic and business journals.
Table of Contents
PART ONE INTRODUCTION CHAPTER 1 The Nature and Scope of Managerial Economics CHAPTER 2 Demand, Supply, and Equilibrium Analysis CHAPTER 3 Optimization Techniques and New Management Tools
PART TWO DEMAND ANALYSIS CHAPTER 4 Demand Theory CHAPTER 5 Demand Estimation CHAPTER 6 Demand Forecasting
PART THREE PRODUCTION AND COST ANALYSIS CHAPTER 7 Production Theory and Estimation CHAPTER 8 Cost Theory and Estimation
PART FOUR MARKET STRUCTURE AND PRICING PRACTICES CHAPTER 9 Market Structure: Perfect Competition, Monopoly, and Monopolistic Competition CHAPTER 10 Oligopoly and Firm Architecture CHAPTER 11 Game Theory and Strategic Behavior CHAPTER 12 Pricing Practices
PART FIVE REGULATION, RISK ANALYSIS, AND CAPITAL BUDGETING CHAPTER 13 Regulation and Antitrust: The Role of Government in the Economy CHAPTER 14 Risk Analysis CHAPTER 15 Long-Run Investment Decisions: Capital Budgeting