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Managerial Economics Markets and the Firm



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South-Western College Pub
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Boyes introduces readers to the power of economics in business decision making. The text's intuitive approach clearly highlights how economics influences marketing, management, and other business-related decisions. In addition to traditional principles of price theory, MANAGERIAL ECONOMICS examines organizational behavior, strategic management, human resource management, and emerging issues such as game theory, TQM, and information economics. MANAGERIAL ECONOMICS departs from convention to illustrate the role of economic intuition in making sound business decisions. While other texts focus on quantitative analysis, this book enphasizes logic and conceptual modeling -- reinforced by real-life examples -- to highlight the pivotal link between economics and key business concerns such as costs, prices, markets, and personnel. Readers learn to weigh the strategic costs and benefits of each business choice, instead of relying on popular quick-fix solutions. Ideal for MBA programs and less quantitative courses, MANAGERIAL ECONOMICS demonstrates the power of economic insight on business decision making.

Table of Contents

Introduction: Economics and Management
The Power of Markets
The Prime Directive
The Theory of the Firm?
Strategic Formulation of Economic Profit
Profit Maximization
Mechanics of Profit Maximization
Revenue Management: Price Strategies
Organization and Corporate Culture
Minimizing Costs: Capital
Personnel and Compensation
The Knowledge Economy
The Grabbing Hand
Internal Markets
Strategy Myths
Strategic Behavior: The Application of Games
Table of Contents provided by Publisher. All Rights Reserved.

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