Managerial Economics, with eBook Access Code: Analysis and Management

by William F. Samuelson, Stephen G. Marks, Jay L. Zagorsky

Overview

The new edition of the best-selling managerial economics textbook, extensively updated to reflect current examples, data, and research

Now in its tenth edition, Managerial Economics introduces the complex decision problems facing today's managers, equipping undergraduates, MBAs, and executives with the economic knowledge and analytical skills required to solve these problems. Going beyond the traditional academic approach to teaching economic analysis, this comprehensive textbook favors practical examples and skills rather than theoretical treatments, illustrating how managers use various economic methods in the modern business environment.

Designed to strengthen critical thinking skills, each chapter opens with a central managerial problem that challenges readers to consider and evaluate possible choices and concludes with a detailed review and analysis of the decision using the concepts introduced in the chapter. Numerous decision-making examples, mini-cases, end-of-chapter problems, and real-world applications reinforce students' quantitative understanding without overwhelming them with an excessive amount of mathematics.

New to this Edition:

• New coverage of responses to the medical and economic risks posed by the Covid-19 pandemic, advances in Artificial Intelligence (AI), and the disruptive impact on the PGA tour caused by the rival LIV golf tour funded by Saudi Arabia
• New section on how a nationwide seller can optimally site an e-commerce distribution center
• New discussion of current topics, such as how Taylor Swift changed the negotiation playing field in creating and distributing the movie of her 2023 Eras Tour
• New examples of actual managerial behavior and practice based on the latest economics and decision analysis research
• New and updated end-of-chapter problems, references, discussion questions, and internet links

Wiley Advantage:

• Presents an applications-based approach to managerial decision-making with emphasis on real-world practice
• Covers a wide range of core topics including optimal decisions and pricing, demand and cost analysis, decision making under uncertainty, strategic analysis using game theory, bargaining and negotiation, and international trade
• Integrates discussion questions in each chapter that frame broader economic issues, such as monopoly practices, competitive market equilibrium, and government regulation
• Provides students and instructors optional appendices that delve deeper into important advanced topics
• Includes a study guide for students with multiple-choice questions, quantitative problems, essay questions, and mini-cases
• Provides a companion website with an instructor’s manual, teaching suggestions, examples, links to current articles and cases, and a comprehensive test bank

An Interactive, Multimedia Learning Experience

This tenth edition of Managerial Economics includes an enhanced e-text that engages students with a variety of video and interactive content designed to complement and enrich the reading experience. Every new copy of the paperback textbook includes access to the e-text, and the video and interactive content is signposted throughout.

Product Details

ISBN-13:	9781394268108
Publisher:	Wiley
Publication date:	01/09/2025
Pages:	576
Product dimensions:	8.00(w) x 9.90(h) x 1.00(d)

About the Author

William F. Samuelson is Emeritus Professor of Economics and Finance at Boston University Questrom School of Business. His research focuses on the areas of game theory, decision theory, bidding, bargaining, and experimental economics. His work has been published in leading economics and management science journals including The American Economic Review, The Journal of Finance, Management Science, and Operations Research.

Stephen G. Marks is Professor of Law and Associate Dean for Academic Affairs at Boston University School of Law, where he teaches business-oriented law classes in corporate law, mergers and acquisitions, and corporate finance. He has written and co-authored several books and published academic articles and opinion pieces in The American Economic Review, Journal of Legal Studies, Journal of Financial and Quantitative Analysis, the Wall Street Journal, and the Los Angeles Times.

Jay L. Zagorsky is Clinical Associate Professor at Boston University Questrom School of Business, where he has taught more than 10,000 students in subjects ranging from basic economics to advanced business courses. He is one of Boston University’s most widely quoted faculty members and appears frequently on television, radio, print, and online discussing how current events impact businesses and managers’ decisions.

Table of Contents

1 Introduction to Economic Decision Making 1 

2 Optimal Decisions Using Marginal Analysis 18 

3 Demand Analysis and Optimal Pricing 57 

4 Estimating and Forecasting Demand 95 

5 Production 141 

6 Cost Analysis 171 

7 Perfect Competition 208 

8 Monopoly 238 

9 Oligopoly 259 

10 Game Theory and Competitive Strategy 293 

11 Regulation, Public Goods, and Benefit-Cost Analysis 329 

12 The Economics of Non-profit Organizations 365 

13 Decision Making under Uncertainty 390 

14 The Value of Information 422 

15 Asymmetric Information and Organizational Design 452 

16 Bargaining and Negotiation 480 

17 Linear Programming 505 

Index I- 1