Publisher's Synopsis
Managerial Economics brings together topics in microeconomics that can be applied to business decision-making to create a valuable way of thinking about markets and business decisions. Business students will thus become architects of business strategy deciding which products to produce, costs to consider, prices to charge as well as an optimum hiring policy and the most effective style of organization.
Managerial economics, the application of economic methods in the managerial decision-making process, is obviously a fundamental part of any business or management course. This textbook covers all the main aspects: the theory of the firm; demand theory and estimation; production and cost theory and estimation; market structure and pricing; game theory; investment analysis and government policy. It includes case studies, review questions and problem-solving sections at the end of each chapter.
This book will be invaluable to business and economics students, at both undergraduate and postgraduate levels. Using Managerial Economics, students can develop critical thinking skills and a logical way of analyzing their business decisions. It requires no previous training in microeconomics.
