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Economics for Managers, International Edition 11e
ISBN-13: 9780324539424 / ISBN-10: 0324539428
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(economics for managers solutions)
James R. McGuigan, JRM Investments
R. Charles Moyer, University of Louisville
Frederick H.deB. Harris, Wake Forest University
Published by South Western, ©2008
Packed with managerially oriented applications, ECONOMICS FOR MANAGERS, 11th edition illustrates how actual managers apply theories and techniques to solve real-world problems as it teaches future business leaders how to think analytically and make better decisions. 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. The new streamlined edition is concise, current, and cutting edge and gives instructors more flexibility than ever. The seasoned author team balances traditional neoclassical micro theory with extensive coverage of the latest analytical tools in managerial economics, such as game-theoretic tactics, information economics, and organizational architecture. It also offers thorough integration of international issues, including new material on China and India. In addition, CengageNOW’s innovative timesaving suite of online tools offers unrivaled course planning and management tools, enabling instructors to pinpoint how well their students master key concepts.
- Diverse Approaches: The authors present key analytical concepts in several different ways — including tabular analysis, graphical analysis, and algebraic analysis — making difficult material more accessible and enabling students to learn in the format with which they are most comfortable. When elementary differential calculus is used, at least one alternative mode of analysis also is presented for readers. The book also has a strong finance emphasis.
- Real-World Emphasis: The 300-plus applications and examples from actual practice give students hands-on experience with the decision-making challenges they will face as managers — as well as effective tools to solve them. For example, each chapter opens with a Managerial Challenge illustrating an economic analysis problem faced by actual managers that relates to chapter material.
- Decision-Making Skills: “What Went Right/What Went Wrong” features, included in most chapters, enable students to apply what they have learned to real-business decisions and see the positive and negative outcomes of management decisions. These insightful features show the relevance of managerial economic insights to avoiding widely discussed corporate mistakes, teaching students how to critically evaluate good and bad decisions and the subsequent effects.
- Thorough Exercises: Each chapter offers a large problem analysis set, with answers for selected problems included at the end of the text. Problems that can be solved using Excel are highlighted with an Excel icon. Many chapters also include short cases that extend the concepts and tools developed in the text and provide students opportunities for in-depth problem analysis.
- Contemporary Coverage: A strong emphasis is placed on the most current topics in microeconomic thinking, including organizational economics, game-theoretic tactics, auction economics, strategy, information economics, and more. This coverage is balanced with more traditional neoclassical micro theory.
PART I: INTRODUCTION.
1. Introduction and Goals of the Firm.
2. Fundamental Economic Concepts.
2A. Differential Calculus Techniques in Management.
PART II: DEMAND AND FORECASTING.
3. Demand Analysis.
4. Estimating Demand.
4A. Problems in Applying the Linear Regression Model.
5. Business and Economic Forecasting.
6. Managing 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. Best-Practice Tactics: Game Theory.
13A. Entry Deterrence and Accommodation Games.
14. Pricing Techniques and Analysis.
PART V: ORGANIZATIONAL ARCHITECTURE AND REGULATION.
15. Contracting, Governance, and Organizational Form.
15A. Auction Design and Information Economics.
16. Government Regulation.
17. Long-Term Investment Analysis.
Appendix A: The Time Value of Money.
Appendix B: Tables.
Appendix C: Check Answers to Selected End-of-Chapter Exercises
Check Answers to Selected End-of-Chapter Exercises.
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 Competitor–A Case Study.
Web Appendix E: Pricing of Joint Products and Transfer Pricing.
Web Appendix F: Decision Under Risk and Uncertainty.
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