This edition continues to develop critical thinking skills and provides students with a logical way of analyzing both the routine decisions of managing the daily operations of a business as well as the longer-run strategic plans that seek to manipulate the actions and reactions of rival firms. Managerial Economics is a self-contained textbook that requires no previous training in economics.
While maintaining a rigorous style, this book is designed to be one of the most accessible books in managerial economics from which to teach and learn because of its clarity of presentation and strong end of chapter problems.
Rather than parading students quickly through every interesting or new topic in microeconomics and industrial organization, this 11th edition instead carefully develops and applies the most useful concepts for business decision making and strategic planning.
For courses in managerial economics, this textbook, now in its third edition, is specifically designed for the students of management, commerce and economics to provide them with a thorough understanding of economic concepts and methodologies and the economic environment influencing managerial decisions.
All the basic principles are introduced with mathematical complexity kept to minimum—essentials of applied mathematics needed for comprehending the under-lying ideas of models and theories of economics are covered.
The book then moves on to systematically enumerates the various tools of analysis such as demand analysis, cost analysis, elasticity of demand, production analysis and price theory, and highlights their importance in managerial decision making through the concept-example format, wherein a concept discussed is immediately followed by a practical situation so that the reader can understand its application. The end-of-chapter questions reinforce a deeper understanding of the concepts introduced in the text.
An exclusive chapter on linear programming emphasizes the importance of this mathematical tool in finding optimal business solutions. The book concludes with an exhaustive introduction to macroeconomics, analyzing in depth the concepts of inflation, income, savings and investments, and growth and employment in Indian context. New to the Third Edition Revised and expanded coverage of evolution of economic thought, and basic economic terms.
An enriched inclusion of demand forecasting techniques, and the Cobb-Douglas production function. An extensive illustration of the commonly used pricing methods and market power.
Managerial Economics Managerial Economics G. Gupta G. Author : G. Now in its fourth edition, Ivan Png's Managerial Economics has been extensively revised with : a completely new introductory chapter emphasizing decision-making and behavioral biases intensive application to current issues including the sub-prime financial crisis and global competition streamlined presentation focusing on the economics that managers need to know. As always, the text presents the key concepts of micro-economics intuitively, without requiring any sophisticated mathematics.
The new fourth edition is updated with fresh up-to-date discussion questions from all over the world and enhanced with detailed instructor supplements. It is an ideal text for any course focusing on the practical application of micro-economic principles to management. Truly useful economics for managers. Author : M. This text ensures a thorough understanding of core concepts before advancing to provide an expanded treatment of topics.
The book first lays a sound theoretical foundation of basic concepts, defi-nitions, and methodologies of economics, being an essential prerequisite for students to understand the theory of managerial economics. All the basic principles are introduced with mathematical complexity kept to minimum—essentials of applied mathematics needed for comprehending the under-lying ideas of models and theories of economics are covered.
The book then moves on to systematically enumerates the various tools of analysis such as demand analysis, cost analysis, elasticity of demand, production analysis and price theory, and highlights their importance in managerial decision making through the concept-example format, wherein a concept discussed is immediately followed by a practical situation so that the reader can understand its application.
The end-of-chapter questions reinforce a deeper understanding of the concepts introduced in the text. An exclusive chapter on linear programming emphasizes the importance of this mathematical tool in finding optimal business solutions. The book concludes with an exhaustive introduction to macroeconomics, analyzing in depth the concepts of inflation, income, savings and investments, and growth and employment in Indian context.
New to the Third Edition Revised and expanded coverage of evolution of economic thought, and basic economic terms. An enriched inclusion of demand forecasting techniques, and the Cobb-Douglas production function. An extensive illustration of the commonly used pricing methods and market power. The purpose of teaching Managerial Economics is to equip business students with the ability to deliberate logically and critically the challenging process of framing business strategies later on in their careers.
Managerial Economicscaters to these needs in the Indian context in a detailed manner. Managerial Economics Author : G. Emphases on agency and contract theory, managerial behavioral economics, game theory, and pricing are especially valuable to future managers. The Second Edition has been fully revised and updated to reflect new supply-and-demand curves and include discussions of corporate social responsibility, opportunistic behavior, and innovation.
It also features new learning objectives, examples, end-of-chapter questions, and spreadsheet exercises. This innovative text helps students develop and sharpen their economic intuition--an invaluable skill that helps students, as future managers, 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 presents the firm as a cohesive, unified organization and demonstrates that important business decisions are interdisciplinary. 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 students grasp the importance of marginal revenue and marginal costs, the process of economic optimization becomes intuitively obvious. In addition, a wide variety of examples and simple numerical problems vividly illustrate the application of managerial economics to a vast assortment of practical situations.
They gain powerful tools that can help them become more successful--and satisfied--in their careers. The purpose of teaching Managerial Economics is to equip business students with the ability to deliberate logically and critically the challenging process of framing business strategies later on in their careers.
Managerial Economicscaters to these needs in the Indian context in a detailed manner. It includes numerous and extensive case studies, as well as review questions and problem-solving sections at the end of each chapter. Nick Wilkinson adopts a user-friendly problem-solving approach which takes the reader in gradual steps from simple problems through increasingly difficult material to complex case studies.
Discover how to use managerial economics to both diagnose and solve business problems with this breakthrough text, designed specifically for MBA learners like you. The purpose of teaching Managerial Economics is to equip business students with the ability to deliberate logically and critically the challenging process of framing business strategies later on in their careers.
This text addresses the core of a subject commonly called managerial economics, which is the application of microeconomics to business decisions. This edition continues to develop critical thinking skills and provides students with a logical way of analyzing both the routine decisions of managing the daily operations of a business as well as the longer-run strategic plans that seek The book first lays a sound theoretical foundation of basic concepts, defi-nitions, and methodologies of economics, being an essential prerequisite for students to understand the theory of managerial economics.
Presents the key concepts of micro-economics intuitively, without requiring any sophisticated mathematics. Throughout, it emphasizes actual management application, and links to other functions including marketing and finance.
This text presents an accessible introduction to techniques and applications of economic analysis and financial accounting as a method for approaching real-life business problems for managerial decision making in a logical manner. This text ensures a thorough understanding of core concepts before advancing to provide an expanded treatment of topics. Now fully integrated within McGraw-Hill's Connect platform, the 8th edition provides instructors with new ways to assess student performance in the managerial economics course.
This book gives one the basic concepts of managerial economics with the objective of making readers appreciate the value of economic principles as tools in business decision-making. An ideal book for management students. Highly accessible, with a clear introduction to the subject for the non-specialist, this book covers all aspects of managerial economics.
It also contains some material on corporate strategy and a section devoted to marketing issues. Skip to content.
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