Managerial Economics / Edition 12

by S. Charles Maurice, Christopher R. Thomas

Overview

The goal of Thomas and Maurice's Managerial Economics is to teach students the economic way of thinking about business decision and strategy. This edition continues to develop critical thinking skills and provides students with a logical way of analysing 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 12th edition instead carefully develops and applies the most useful concepts for business decision making and strategic planning.

Product Details

ISBN-13:	9780078021909
Publisher:	McGraw-Hill Higher Education
Publication date:	09/25/2015
Edition description:	Older Edition
Pages:	736
Product dimensions:	8.10(w) x 9.20(h) x 1.30(d)
Age Range:	18 Years

About the Author

Professor Emeritus of Economics at Texas A&M University. He spent 30 years in the Department of Economics at Texas A&M, where he served as Department Head from 1977 through 1981, and held the Rex B. Grey University Professorship of Free Enterprise from 1981 through 1985. Professor Maurice published numerous articles on microeconomic theory in the top economic journals. He co-wrote two scholarly books on natural resource depletion: The Doomsday Myth and The Economics of Mineral Extraction. He also wrote with Charles Ferguson, and later Owen Phillips, the widely used intermediate level microeconomics textbook Economic Analysis, which was published from 1971 to 1996. Professor Maurice retired to Gainesville, Florida, where he lived until his death in the Spring of 1999.

Currently associate professor of economics at University of South Florida. He worked for two years as an energy economist at Oak Ridge National Laboratory before joining the faculty at USF in 1982. He now teaches managerial economics at the undergraduate level and in two executive training programs, a traditional Executive MBA program and an Executive MBA program for physicians that draws doctors nationwide. Professor Thomas has published numerous articles on government regulation of industry and antitrust issues in Quarterly Journal of Economics, Journal of Law and Economics, Southern Economic Journal, Journal of Economics and Business, Quarterly Review of Economics and Business, and Journal of Economic Education. He serves as a policy associate at the Center for Economic Policy Analysis at University of South Florida. Professor Thomas lives with his wife and daughter in Tampa, Florida, where he enjoys playing tennis.

Table of Contents

Part I: Some Preliminaries

CHAPTER 1: Managers, Profits, and Markets

CHAPTER 2: Demand, Supply, and Market Equilibrium

CHAPTER 3: Marginal Analysis for Optimal Decisions

CHAPTER 4: Basic Estimation Techniques
Part II: Demand Analysis

CHAPTER 5: Theory of Consumer Behavior

CHAPTER 6: Elasticity and Demand

CHAPTER 7: Demand Estimation and Forecasting

Online Topic 1: Estimating and Forecasting Industry Demand for Price-Taking Firms
Part III: Production and Cost Analysis

CHAPTER 8: Production and Cost in the Short Run

CHAPTER 9: Production and Cost in the Long Run

CHAPTER 10: Production and Cost Estimation

Online Topic 2: Linear Programming
Part IV: Profit-Maximization in Various Market Structures

CHAPTER 11: Managerial Decisions in Competitive Markets

CHAPTER 12: Managerial Decisions for Firms with Market Power

CHAPTER 13: Strategic Decision Making in Oligopoly Markets
Part V: Advanced Managerial Decision Making

CHAPTER 14: Advanced Pricing Techniques

Online Topic 3: Pricing Multiple Products Related in Production

CHAPTER 15: Decisions under Risk and Uncertainty

CHAPTER 16: Government Regulation of Business

Online Topic 4: The Investment Decision

APPENDIX: STATISTICAL TABLES