Managerial Economics: A Problem Solving Approach

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This breakthrough text shows MBAs 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." Key Feature Written specifically for the MBA-level managerial economics class, Managerial Economics A Problem Solving Approach teaches readers to solve problems rather than learn models enabling students to connect economics and decisions made at work. Readers will find less math and technical models, as well as fewer graphs and figures, than traditional managerial economics texts but much more real-world emphasis Interactive end-of-chapter material also places students in the role of decision maker, presenting real-world scenarios and asking readers to make suggestions about the most profitable and rational decision possible. An average of eight to 10 situations are posed this way for every chapter, offering instructors excellent selections for individual case assignments, group projects, or class discussions Interspersed within the chapters are mini lectures on microeconomic topics. These succinct lessons present relevant theory in an accessible and compact way, enabling students to see the theory and then immediately apply it. This unique feature makes Managerial Economics a freestanding book that does not require an additional tutorial in microeconomics Table of Contents Section I Problem Solving and Decision Making 1. Introduction: What This Book is About 2. The One Lesson of Business 3. Benefits, Costs, and Decisions 4. Extent (How Much) Decisions 5. Investment Decisions: Look Ahead and Reason Back Section II Pricing, Costs, and Profits 6. Simple Pricing 7. Economies of Scaleand Scope 8. Forecasting Industry Changes 9. How to Keep Profit from Eroding Section III Pricing for Greater Profit 10. More Realistic and Complex Pricing 11. Direct Price Discrimination 12. Indirect Price Discrimination Section IV Strategic Decision Making 13. Strategic Games 14. Bargaining Section V Uncertainty 15. Making Decisions With Uncertainty 16. The Problem of Adverse Selection 17. The Problem of Moral Hazard Section VI Organizational Design 18. Getting Employees to Work in the Best Interests of the Firm 19. Getting Divisions to Work in the BestInterests of The Firm 20. Managing Vertical Relationships Section VII Wrapping Up 21. You Be The Consultant