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Now in its third edition, this highly readable, non-technical introduction to the essential microeconomic principles is perfect for business managers. The new edition retains its global focus and economic rigor, with an emphasis on the role of information in decision-making. The text has been extensively updated and rewritten to include new and recent cases and examples from a multitude of countries and economic systems, applied to managerial situations. Utilizing economic analysis to spotlight topics in accounting, finance, human resources, and marketing, Managerial Economics, 3e employs a simple, pedagogic model, providing the most up-to-date and relevant foundation in the field.
1. Introduction to Managerial Economics.
Part I: Competitive Markets.
5. Competitive Markets.
6. Economic Efficiency.
Part II: Market Power.
10. Strategic Thinking.
Part III: Imperfect Markets.
13. Asymmetric Information.
14. Incentives and Organization.
Answers to Progress Checks and Selected Review Questions.
Index of Companies and Organizations.