Managerial Economics A Problem Solving Approach

by Froeb, Luke M.; McCann, Brian T.

• ISBN13: 9780324359817
• ISBN10: 0324359810
• Edition: 1st
• Format: Hardcover
• Copyright: 2007-03-02
• Publisher: South-Western College Pub

Summary

This breakthrough text shows MBA's how to use economics to solve business problems. Succinct, faced paced, and challenging, students should be able to read the book from cover to cover and come away with a good understanding of how to diagnose business problems, and then fix them. With a lively, interactive approach, MANAGERIAL ECONOMICS focuses on the kinds of decisions managers face on a daily bases, making it an excellent resource for students pursuing business -- rather than academic -- careers. "Managerial Economics: A Problem Solving Approach is a breath of fresh air. After having taught managerial economics for 20 years, I became dissatisfied with texts that confront students with graphs, economic principles only loosely connntected to business problems, and tedious calculations. I wanted a text that really helps students to see how economic principles could help them solve business problems. This new text does just that."--Ed Millner, Chairman, Department of Economics, Virginia Commonwealth University. "With no experiece in business and no exposure to math since a D in high school trig, I found economics utterly incomprehensible. Then [the text] spoke one sentence to me, ... It all became clear."--PJ O'Rourke, one of America's leading political satirists and best-selling author of Eat the Rich: a Treatise on Economics. "In twenty years, it will be seen as the standard way to teach economics."--Robert Litan, Vice President for Research and Policy at the Kauffman Foundation.

Table of Contents

Problem Solving and Decision Making

Introduction: What This Book is About

The One Lesson of Business

Benefits, Costs, and Decisions

Extent (How Much) Decisions

Investment Decisions: Look Ahead and Reason Back

Pricing, Costs, and Profits

Simple Pricing

Economies of Scale and Scope

Forecasting Industry Changes

How to Keep Profit from Eroding

Pricing for Greater Profit

More Realistic and Complex Pricing

Direct Price Discrimination

Indirect Price Discrimination

Strategic Decision Making

Strategic Games

Bargaining

Uncertainty

Making Decisions With Uncertainty

The Problem of Adverse Selection

The Problem of Moral Hazard

Organizational Design

Getting Employees to Work in the Best Interests of the Firm

Getting Divisions to Work in the Best Interests of The Firm

Managing Vertical Relationships

Wrapping Up

You Be The Consultant

Epilog: Those Who Cannot Do, Teach

Table of Contents provided by Publisher. All Rights Reserved.