Managerial EconomicsAn Analysis of Business Issues
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Aimed at non-specialist students taking a 2nd or 3rd level (often option) one semester course in business/managerial economics. The level assumes that students have already taken an introductory business economics course. Also appropriate for MBA or DMS students.
This book provides a clear introduction to managerial economics for students who have no previous background in economic analysis and at the same time develops the analysis to a level that is appropriate for second or third year undergraduates or for postgraduate students who are taking the subject for the first time. The text shows how economic analysis can be of relevance to business decision making.
1. The Definition and Scope of Managerial Economics
PART I: THE FIRM.
2. Business Objectives and Basic Models of the Firm
3. The Boundaries of the Firm
4. Ownership and Control of the Firm
5. The Multinational Enterprise
PART II: THE MARKET ENVIRONMENT.
6. Consumer Behaviour
7. Demand and Elasticity
8. Estimating and Forecasting Demand
9. Production and the Determination of Costs
10. Elementary Models of Competitive Structure
11. The Five Forces Approach of Competitive Structure
12. Risk and Uncertainty
PART III: BUSINESS DECISIONS.
13. Game Theory and Oligopoly
14. Pricing in Theory
15. Pricing in Practice
16. Non-Price Competition and the Marketing Mix
17. Investment Decisions and the Cost of Capital
18. Economics and the Analysis of Business Strategy
19. Managerial Economics: The Information Sector and the Internet
PART IV: PUBLIC POLICY.
20. The Economics of Regulated Industries
21. Competition Policy
- A clear introduction to managerial economics for students with no background in economic analysis
- New structure, starting with the firm, followed by the business environment, the analysis of business decisions and two chapters on public policy.
- New chapters on game theory, corporate strategy, the economics of networks and the economics of regulated industries.
- Shows how economic analysis can be of relevance to business decision-making
- Includes self-test questions, exercises, essay questions and a solutions section.
- Includes material on:
- The marketing mix'
- Game theory.
- Porter's principles
- The information economy.
- Transactions cost analysis.