Economics for Managers

by Farnham, Paul G.

• ISBN13: 9780136065524
• ISBN10: 013606552X
• Edition: 2nd
• Format: Hardcover
• Copyright: 2009-04-02
• Publisher: Prentice Hall

Summary

Economics for Managerspresents the fundamental ideas of microeconomics and macroeconomics and then integrates them from amanagerial decision-making perspectivein a framework that can be used by any manager, executive or decision-maker. To be competitive in todayrs"s business environment, managers must understand how economic forces affect their business and what must be considered when making business decisions. This is the only book that provides a thorough and applied understanding of both micro- and macroeconomic concepts to the non-economics based reader. The second edition retains all the same core concepts and straightforward material on micro- and macroeconomics while incorporating new case material and real-world examples. Managers and Economics; Demand, Supply, and Equilibrium Prices; Demand Elasticities ; Techniques for Understanding Consumer Demand and Behavior; Production and Cost Analysis in the Short Run; Production and Cost Analysis in the Long Run; Market Structure: Perfect Competition; Market Structure: Monopoly and Monopolistic Competition; Market Structure: Oligopoly; Pricing Strategies for the Firm; Measuring Macroeconomic Activity ; Spending by Individuals, Firms, and Governments on Real Goods and Services; The Role of Money in the Macro Economy; The Aggregate Model of the Macro Economy; International and Balance of Payments Issues in the Macro Economy; Combining Micro and Macro Analysis for Managerial Decision Making MARKET: For managers and executives with a basic foundation of micro- and macroeconomic concepts who would like to improve their core understanding of these principles in order to apply them from a managerial perspective.

Table of Contents

Microeconomic Analysis

Managers and Economics

Demand, Supply, and Equilibrium Prices

Demand Elasticities

Economic Model of Consumer Choice

Techniques for Understanding Consumer Demand and Behavior

Production and Cost Analysis in the Short Run

Production and Cost Analysis in the Long Run

Isoquant Analysis

Market Structure: Perfect Competition

Market Structure: Monopoly and Monopolistic Competition

Market Structure: Oligopoly

Data Sources for Firm and Industry Analysis (on Web site)

Pricing Strategies for the Firm

Macroeconomic Analysis

Measuring Macroeconomic Activity

Data Sources for Measuring Aggregate Economic Activity

Spending by Individuals, Firms, and Governments on Real Goods and Services

Numerical Example of Equilibrium and the Multiplier

Algebraic Derivation of the Aggregate Expenditure Function and the IS Curve

The Role of Money in the Macro Economy

Monetary Tools and the Market for Bank Reserves

Deriving the LM Curve

The Aggregate Model of the Macro Economy

Specific and General Equations for the Aggregate Macro Model

International and Balance of Payments Issues in the Macro Economy

Specific and General Equations for the Balance of Payments

Integration of the Frameworks 488

Combining Micro and Macro Analysis for Managerial Decision Making

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