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Microeconomics for Managers Richard B. McKenzie (University of California, Irvine)

Microeconomics for Managers By Richard B. McKenzie (University of California, Irvine)

Microeconomics for Managers by Richard B. McKenzie (University of California, Irvine)

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Summary

Updated 4th edition, presenting microeconomics in a non-technical and easy to understand manner with its distinctive emphasis on 'the economic way of thinking' and its applicability to sharper managerial thinking and improved decision-making.

Microeconomics for Managers Summary

Microeconomics for Managers: Principles and Applications by Richard B. McKenzie (University of California, Irvine)

This fully updated fourth edition explores microeconomic concepts, with a distinctive emphasis on 'the economic way of thinking' and its applicability to sharp managerial thinking, productivity, and good decision-making. It stands apart due to its strong focus on practical and applied knowledge from the business context and its unique structure (Part I of each chapter develops key economic principles; Part II draws on those principles to discuss organizational and incentive issues in management, focusing on solving the 'principal-agent' problem to maximize the profitability of the firm). There are plentiful real-life scenarios and provocative examples in each chapter. Accessible to MBA students, other graduate students and undergraduates, it is ideal as a core text for courses in Managerial Economics. Requiring an understanding of only basic algebra, this new edition is more concise with a wealth of online resources, including additional online chapters and an online appendix with more advanced mathematical applications.

Microeconomics for Managers Reviews

'This tome fills a niche and is written by leaders and experts in the field. It prepares students to become competent, efficient partners in the decision-making of organizations. The book is rich in public policy and managerial applications. The knowledge it imparts will benefit those who seek greater insight into budgeting, pricing strategies, and the gaining of competitive advantage.' Walter G. Park, American University
'Microeconomics for Managers remains the best textbook for teaching economics to MBA students. The authors' method of treating economic subjects as people rather than lines on a spreadsheet will inoculate MBA students against economic mistakes. The updates of this 4th edition show how the economic way of thinking remains vital in the post-pandemic business world.' Jonathan Murphy, Western Carolina University

About Richard B. McKenzie (University of California, Irvine)

Richard B. McKenzie is the Walter B. Gerken Professor of Enterprise and Society Emeritus in the Paul Merage School of Business at the University of California, Irvine. D. Eric Schansberg is Professor of Economics at Indiana University Southeast. Dwight R. Lee is a professor emeritus at the University of Georgia and the former J. O'Neil Endowed Chair of Global Markets and Freedom and Scholar in Residence at Southern Methodist University.

Table of Contents

Preface for teachers; Preface for students; Video lectures and suggested uses; Book I. The Market Economy, Overview and Applications: 1. Microeconomics: a way of thinking about business; 2. Principles of rational behavior in society and business; 3. Competitive product markets and firm decisions; 4. Consumer choice and demand in traditional and network markets; Book II. Producer Theory: 5. Applications of demand and supply to government and management policies; 6. Principles of political economy for public policy and business; Book III. Theory of the Firm, Production, and Costs: 7. Production, costs, and the theory of the firm; 8. Production costs in the short run and long run; Book IV. Competitive and Monopoly Market Structures: 9. Firm production under idealised competitive conditions; 10. Monopoly power and firm pricing decisions; 11. Firm strategy under imperfectly competitive market conditions; 12. Competitive and monopsonistic labor markets; Select bibliography; Index.

Additional information

NGR9781009507196
9781009507196
1009507192
Microeconomics for Managers: Principles and Applications by Richard B. McKenzie (University of California, Irvine)
Richard B. McKenzie (University of California, Irvine)
New
Paperback
Cambridge University Press
2024-03-28
566
N/A
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
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Customer Reviews - Microeconomics for Managers