Managerial Economics, 8th Edition

ISBN: 9781118808948

The newly updated Managerial Economics, 8th Edition really draws your attention to the most important principles when it comes to making economic decisions. One of the major themes is decision making, which has been incorporated throughout the entire text. Every chapter starts with a managerial problem that is meant to be analysed with concepts discussed in the chapter. There are also spreadsheet problems at the end of each chapter that showcase how to find the optimal solutions for economic decisions. Particular emphasis has also been placed on how to apply the techniques of decision making to topics that are really prominent in managerial economics, such as organization design and negation, while also noting common pitfalls to avoid based on cutting edge research findings. Moreover, the text shows how game theory principles are vital to understanding strategic behaviour. There is also a quantitative approach taken to managerial decision making, so that only the most basic techniques of differential calculus are used.

Features

  • Timely updates to applications such as analyzing the pricing of Amazon’s Kindle and using regression analysis to estimate box office revenues for film releases.
  • Expansion of Business Behavior provides an assessment (based on cutting edge research findings) of real-world decision-making behavior, noting the most common pitfalls to avoid.
  • More Focused Content to draw student attention on the most important economic and decision-making principles.
William F. Samuelson
Boston University

Stephen G. Marks
Boston University

1. Introduction to Economic Decision Making

Section I: Decisions within Firms
2. Optimal Decisions Using Marginal Analysis
3. Demand Analysis and Optimal Pricing
4. Estimating and Forecasting Demand
5. Production
6. Cost Analysis

Section II: Competing within Markets
7. Perfect Competition
8. Monopoly
9. Oligopoly
10. Game Theory and Competitive Strategy
11. Regulation, Public Goods, and Benefit-Cost Analysis

Section III: Decision-Making Applications
12. Decision Making under Uncertainty
13. The Value of Information
14. Asymmetric Information and Organizational Design
15. Bargaining and Negotiation
16. Linear Programming
17. Auctions and Competitive Bidding (available online)

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E-Text: 9781119025924
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Textbook: 9781118808948