Managerial Economics introduces undergraduates, MBAs, and executives to the complex decision problems today’s managers face, providing the knowledge and analytical skills required to make informed decisions and prosper in the modern business environment. Going beyond the traditional academic approach to teaching economic analysis, this comprehensive textbook describes how practicing managers use various economic methods in the real world. Each chapter opens with a central managerial problem—challenging readers to consider and evaluate possible choices—and concludes by reviewing and analyzing the decision through the lens of the concepts introduced in the chapter.
Extensively updated throughout, this International Adaptation makes use of new central managerial problems and case studies from across the world to discuss the foundational principles of managerial economics, illustrate key concepts, and strengthen students'' critical thinking skills. Favoring practical skills development over complicated theoretical discussion, the book includes mini-problems and spreadsheet problems that reinforce students'' quantitative understanding without overwhelming them with an excessive amount of mathematics.