Presenting the essentials of managerial economics, this second edition integrates the discipline to other managerial functions - including accounting, finance, human resource management, and marketing. Examples of the major cases included in the text are: Coca Cola's vertical structure and pricing; and breakeven at the "Asian Wall Street Journal".
Presenting the essentials of managerial economics in an accessible style, this book uniquely integrates the discipline to other managerial functions - including accounting, finance, human resource management, and marketing. Managerial Economics teaches students how to make better business decisions, not how to build models. Each chapter is centered around a real world business case study and develops this issue's relevant managerial economics principles in a straightforward manner. Examples of the major cases included in the text are: Coca Cola's vertical structure and pricing; Breakeven at the "Asian Wall Street Journal"; Fujitsu; Texas Instruments; the DRAM industry; Qwest's 230 per cent excess capacity; Northwest Airlines' pricing strategy; Airbus' organizational architecture; Microsoft vs. AOL in Internet service; and Amazon's vertical integration into warehousing. The discussions are reinforced with numerous supplementary cases, including Echo Bay Mines (Canada) and the Brisbane Concrete Cartel. Each chapter includes fifteen review questions underscoring basic principles, as well as over ten discussion questions applying these principles to recent business problems. This second edition also emphasizes the economic principles of the 'new economy,' particularly scalability and network effects. "Managerial Economics" is supported by an instructor's manual and on-line resources for students and instructors.
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"I have been using the book for the past three years at the MBA level. Students seem to genuinely like the book with its emphasis on real business applications of economic analysis. The book is not a microeconomics text with the title changed to managerial economics, as is the case with many managerial economics textbooks out there. I also like the book in its starting each chapter with some real and interesting business problems to which the instructor can later go back in terms of showing students how to apply the tools learned in the chapter to the problem. The new edition continues this tradition in adding many more interesting problems, including those reflecting the age of the Internet." Hong V. Nguyen, University of Scranton
About Ivan Png
Dr. Png is Visiting Professor of Information Systems at the National University of Singapore. He was previously Professor of Management at the University of California, Los Angeles, and Visiting Professor at the Hong Kong University of Science and Technology. Dr. Png received the Outstanding Teaching Award from the UCLA MBA Program for Fully Employed Students. He is an Associate Editor of the Journal of Industrial Economics and has been a consultant to business and organizations in Hong Kong, Singapore, and the United States.
Table of Contents
Preface. 1. Introduction to Managerial Economics. Part I: Competitive Markets: 2. Demand. 3. Elasticity. 4. Supply. 5. Competitive Markets. 6. Economic Efficiency. Part II: Market Power: 7. Costs. 8. Monopoly. 9. Pricing Policy. 10. Strategic Thinking. Part III: Imperfect Markets: 11. Externalities. 12. Asymmetric Information. 13. Incentives and Organization. 14. Regulation. Guide to Data Sources. Answers to Progress Checks and Selected Review Questions. Index of Companies and Organizations. Subject Index.
Managerial Economics by Ivan Png
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John Wiley and Sons Ltd
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