Managerial Economics: Applications, Strategies, and Tactics / Edition 11 available in Hardcover
- Pub. Date:
- Cengage Learning
Packed with powerful examples from actual managers, MANAGERIAL ECONOMICS, 11e teaches you how to think analytically and make better business decisions. Written by a seasoned and well-respected author team, Managerial Economics equips readers with the economic tools to avoid analytic pitfalls and become more effective managers. Drawing from more than 300 real-world applications, the authors illustrate how actual managers apply economic theories and techniques to solve real business problems. Current, comprehensive, and cutting edge, the text includes extensive coverage of the latest analytical tools in managerial economics, including game-theoretic tactics, information economics, and organizational architecture. It also offers exceptional coverage of international issues, including new material on China and India. Extremely user friendly, the text caters to a variety of learning styles as it presents key analytical concepts in several ways, including tabular analysis, graphical analysis, and algebraic analysis. Students learn in a format with which they are comfortable, making difficult material more accessible and easier to understand.
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About the Author
James R. McGuigan owns and operates his own numismatic investment firm. Prior to this business, he was Associate Professor of Finance and Business Economics in the School of Business Administration at Wayne State University. He also taught at the University of Pittsburgh and Point Park College. McGuigan received his undergraduate degree from Carnegie-Mellon University; MBA at the Graduate School of Business at the University of Chicago and his PhD from the University of Pittsburgh. In addition to his interests in economics, he has coauthored books on financial management.
R. Charles Moyer earned his BA in Economics from Howard University and his MBA and PhD in Finance and Managerial Economics from the University of Pittsburgh. Professor Moyer is Dean Emeritus of the College of Business at the University of Louisville, and Professor of Finance and Entrepreneurship. He is Dean Emeritus and former holder of the GMAC Insurance Chair in Finance at the Babcock Graduate School of Management, Wake Forest University. Previously, he was Professor of Finance and Chairman of the Department of Finance at Texas Tech University. Professor Moyer also has taught at the University of Houston, Lehigh University, and the University of New Mexico and spent a year at the Federal Reserve Bank of Cleveland. Professor Moyer has taught extensively abroad in Germany, France, and Russia. In addition to this text, Moyer has coauthored two other financial management texts. He has been published in many leading journals including FINANCIAL MANAGEMENT, JOURNAL OF FINANCIAL AND QUANTITATIVE ANALYSIS, JOURNAL OF FINANCE, FINANCIAL REVIEW, JOURNAL OF FINANCIAL RESEARCH, INTERNATIONAL JOURNAL OF FORECASTING, JOURNAL OF ECONOMICS AND BUSINESS, STRATEGIC MANAGEMENT JOURNAL and JOURNAL OF INDUSTRIAL ORGANIZATION. Professor Moyer has been a member of the Board of Directors of King Pharmaceuticals, Inc., and is on the board of Capital South Partners, the Kentucky Seed Capital Fund, and Summit Biosciences.
Frederick H. deB. Harris (Rick) is the John B. McKinnon Professor of Economics and Finance at the Schools of Business, Wake Forest University. Professor Harris holds a 1981 Ph.D. from the University of Virginia and a Dartmouth College A.B. in Economics. His specialties are pricing tactics and capacity planning in product markets as well as price discovery in financial markets and security market design. He has taught integrative managerial economics Core courses and elective B.A., B.S., M.S., M.B.A., and Ph.D. courses at Wake Forest, the University of Texas, and William and Mary, as well as several universities in France, Italy, Germany, and Australia. Professor Harris has won two school-wide Educator of the Year awards and two Researcher of the Year awards. Other recognitions include Outstanding Faculty (Inc., 1998 and 2001), Outstanding Faculty (Business Week's Guide to the Best Business Schools, 1997-2004), Board of Associate Editors (Journal of Industrial Economics, 1988-2003), and the Runner-up Prize (European Corporate Governance Institute, 2007). Numerous publications have appeared in the leading journals in Economics, Finance, and Operations such as the REVIEW OF ECONOMICS AND STATISTICS, THE JOURNAL OF FINANCIAL AND QUANTITATIVE ANALYSIS, JOURNAL OF FINANCIAL MARKETS, and THE JOURNAL OF OPERATIONS MANAGEMENT. He also writes with practitioners in the JOURNAL OF TRADING from Institutional Investor Inc. and in the INFORMS's JOURNAL OF REVENUE AND PRICING MANAGEMENT.
Table of Contents
PART I: INTRODUCTION. 1. Introduction and Goals of the Firm. 2. Fundamental Economic Concepts. 2A. Differential Calculus Techniques in Management. PART II: DEMAND ANALYSIS AND ESTIMATION. 3. Demand Analysis. 4. Estimation of Demand. 4A. Problems in Applying the Linear Regression Model. 5. Business and Economic Forecasting. 6. Managing Demand from Exports. PART III: PRODUCTION AND COST. 7. Production Economics. 7A. Maximization of Production Output Subject to a Cost Constraint. 8. Cost Analysis. 8A. Long-Run Costs with a Cobb-Douglas Production Function. 9. Applications of Cost Theory. 9A. Mass Customization and the Learning Curve. PART IV: PRICING AND OUTPUT DECISIONS: STRATEGY AND TACTICS. 10. Prices, Output,& Strategy: Pure and Monopolistic Competition. 11. Price and Output Determination: Monopoly and Dominant Firms. 12. Price and Output Determination: Oligopoly. 13. Game-Theoretic Rivalry: Best-Practice Tactics. 13A. Entry Deterrence and Accommodation Games. 14. Pricing Techniques and Analysis. 14A. Revenue Management. PART V: ORGANIZATIONAL ARCHITECTURE AND REGULATION OF BUSINESS. 15. Contracting, Governance, and Organizational Form. 15A. Auction Design and Information. 16. Government Regulation. 17. Long-Term Investment Analysis. Appendix A: The Time Value of Money. Appendix B: Tables. Check Answers to Selected End-of-Chapter Exercises. Index. Web Appendix A: Consumer Using Indifference Curve Analysis. Web Appendix B: International Parity Conditions. Web Appendix C: Production Decisions and Linear Programming. Web Appendix D: Capacity Planning and Pricing against a Low-Cost CompetitorA Case Study. Web Appendix E: Pricing of Joint Products and Transfer Pricing.