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Managerial Economics / Edition 11

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Overview

The economic concepts presented in market-leading MANAGERIAL ECONOMICS, 12e, show you how to use common sense to understand business and solve managerial problems. This innovative text helps you sharpen your economic intuition—an invaluable skill that helps you, as a future manager, 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 demonstrates that important business decisions are interdisciplinary, illustrating how different functions work together. 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 you understand the importance of marginal revenue and marginal costs, the process of economic optimization becomes intuitively obvious. A wide variety of examples and simple numerical problems vividly illustrate the application of managerial economics to a vast assortment of practical situations. MANAGERIAL ECONOMICS, 12e, teaches you to more effectively collect, organize, and analyze information, giving you powerful tools that can help you become more successful—and satisfied—in your career.

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Editorial Reviews

From the Publisher
"Dr. Hirschey, I am preparing for my final in Managerial Economics, and I thought I would drop you an email to thank for writing such a great textbook. I don't know how many thank you notes you get, but you did a superb job in writing this text. I am no mathematical genius, and I really have a good shot at an A in this class. Thanks for writing something PRACTICAL."
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Product Details

  • ISBN-13: 9780324288933
  • Publisher: Cengage South-Western
  • Publication date: 5/16/2005
  • Edition description: Older Edition
  • Edition number: 11
  • Pages: 768
  • Product dimensions: 8.42 (w) x 10.18 (h) x 1.24 (d)

Meet the Author

Mark Hirschey is the Anderson W. Chandler Professor of Business at the University of Kansas, where he teaches undergraduate and graduate courses in managerial economics and finance. He also is president of the Association of Financial Economists and a member of several professional organizations. Professor Hirschey has published articles for such leading academic journals as the AMERICAN ECONOMIC REVIEW, REVIEW OF ECONOMICS AND STATISTICS, JOURNAL OF BUSINESS, JOURNAL OF BUSINESS AND ECONOMIC STATISTICS, JOURNAL OF FINANCE, JOURNAL OF FINANCIAL ECONOMICS, and JOURNAL OF INDUSTRIAL ECONOMICS. He also is the author of FUNDAMENTALS OF MANAGERIAL ECONOMICS AND INVESTMENTS: ANALYSIS & BEHAVIOR, the editor of ADVANCES IN FINANCIAL ECONOMICS, and past editor of MANAGERIAL AND DECISION ECONOMICS. He earned his PhD from the University of Wisconsin-Madison.

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Table of Contents

Part I. Overview of Managerial Economics. 1. The Nature and Scope of Managerial Economics. 2. Economic Optimization. 3. Demand and Supply. Part II. Demand Analysis. 4. Demand Analysis. 5. Demand Estimation. 6. Forecasting. Part III: Production and Cost Analysis. 7. Production Analysis and Estimation. 8. Cost Analysis and Estimation. 9. Linear Programming. Part IV. Market Structure Analysis and Estimation. 10. Perfect Competition and Monopoly. 11. Monopolistic Competition and Oligolopy. 12. Pricing Practices. Part V. Long-Term Investment Decisions. 13. Government Regulation of the Market Economy. 14. Risk Analysis. 15. Capital Budgeting. Part VI. Summary. 16. Organization Structure and Corporation Governance. 17. Public Management.
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Sort by: Showing all of 2 Customer Reviews
  • Anonymous

    Posted April 17, 2006

    it's a very practical textbook!!

    it's totally worth to buy it. have many real life case studies, and a lot of calculation examples. very hands-on experience reference book.

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  • Anonymous

    Posted July 9, 2009

    No text was provided for this review.

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