Economics of Managerial Decisions, The, Global Edition

For courses in managerial economics.
Teaching students managerial economics through real examples, real businesses, with real-life situations
The Economics of Managerial Decisions teaches students how to make business decisions by blending the qualitative and quantitative aspects of the course. Using examples from different sectors of the economy, the authors present real examples, such as Pizza Hut, to teach the concepts of production and cost, and KV Pharmaceuticals, to talk about monopoly ? helping students see how theory is applied in different contexts.

• PART I: ECONOMIC FOUNDATIONS
• 1. Managerial Economics and Decision Making
• 2. Demand and Supply
• 3. Measuring and Using Demand
• PART II: MARKET STRUCTURES AND MANAGERIAL DECISIONS
• 4. Production and Costs
• 5. Perfect Competition
• 6. Monopoly and Monopolistic Competition
• 7. Cartels and Oligopoly
• 8. Game Theory and Oligopoly
• 9. A Manager’s Guide to Antitrust Policy
• PART III: MANAGERIAL DECISIONS
• 10. Advanced Pricing Decisions
• 11. Decisions About Vertical Integration and Distribution
• 12. Decisions About Production, Products, and Location
• 13. Marketing Decisions: Advertising and Promotion
• 14. Business Decisions Under Uncertainty
• 15. Managerial Decisions About Information
• 16. Using Present Value to Make Multi-Period Managerial Decisions

• Real-world examples rouse students’ curiosity at the beginning of the chapter with a managerial decision-making question/challenge faced by a number of different types of organisations, including large and small profit-seeking firms, government organisations, NGOs, and non-profits. This question is then revisited and chapter content is applied to provide an answer at the end of the chapter.
• Integrated examples throughout the chapter present economic concepts in the context of business scenarios from a range of industries.
• Managerial Application. Fifteen of the sixteen chapters include a major numbered section devoted to managerial applications of the chapter content, so students can more fully develop the skills they’ll need as future managers.
• Solved Problems guide students step-by-step in solving a managerial problem, set in the context of a situation managers may encounter.
• Solved Problem and Decision Snapshots place readers in the role of managers facing a decision in a range of industries, including large and small for-profit firms, public service organisations, and non-profits. A solution is included so students can confirm the decision they have made.
• 4 Case Studies illustrate how managers used the topics in the chapter to approach or solve a business challenge issue. Discussion includes decision-making using regression, student athletes and the NCAA, decision-making with final offer arbitration, and analysing predatory pricing as an investment. Case studies conclude with open-ended questions about another similar situations that instructors can use for class discussion or assign as homework.
• End-of-Chapter Questions and Problems accompany learning objectives so that instructors can easily assign problems based on these objectives, and students can efficiently review material that they find difficult.
• Optional Calculus Appendices. Algebra and geometry are used throughout the book as this level i