Managerial Economics (with InfoApps 2-Semester Printed Access Card)

by Hirschey, Mark

• ISBN13: 9780324584844
• ISBN10: 0324584849
• Edition: 12th
• Format: Hardcover
• Copyright: 2008-02-20
• Publisher: South-Western College Pub

Summary

The economic concepts presented in market-leading MANAGERIAL ECONOMICS, 12e, show you how to use common sense to understand business and solve managerial problems. This innovative text helps you sharpen your economic intuition--an invaluable skill that helps you, as a future manager, decide which products to produce, costs to consider, and prices to charge, as well as the best hiring policy and the most effective style of organization. With its unique integrative approach, the text demonstrates that important business decisions are interdisciplinary, illustrating how different functions work together. A basic valuation model is constructed and used as the underlying economic model of the firm; each topic is then related to an element of the value maximization model--a process that shows how management integrates accounting, finance, marketing, personnel, and production functions. The text also provides an intuitive guide to marginal analysis and basic economic relations. Once you understand the importance of marginal revenue and marginal costs, the process of economic optimization becomes intuitively obvious. A wide variety of examples and simple numerical problems vividly illustrate the application of managerial economics to a vast assortment of practical situations. MANAGERIAL ECONOMICS, 12e, teaches you to more effectively collect, organize, and analyze information, giving you powerful tools that can help you become more successful--and satisfied--in your career.

Table of Contents

Preface

Overview of Managerial Economics

Nature and Scope of Managerial Economics

Economic Optimization

Demand and Supply

Demand Analysis and Estimation

Demand Analysis

Demand Estimation

Forecasting

Production and Competitive Markets

Production Analysis and Compensation Policy

Cost Analysis and Estimation

Linear Programming

Competitive Markets

Performance and Strategy in Competitive Markets

Imperfect Competition

Monopoly and Monopsony

Monopolistic Competition and Oligopoly

Game Theory and Competitive Strategy

Pricing Practices

Long-Term Investment Decisions

Risk Analysis

Capital Budgeting

Organization Structure and Corporate Governance

Government in the Market Economy

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