Book Description
This book illustrates the central decision problems managers face and provides the economic analysis needed to guide these decisions. The authors believe that an effective managerial economics book must go beyond the "nuts and bolts" of economic analysis to show how these economic analysis techniques are used by practicing managers.
From the Back Cover
The right economic tools to make the right business decisions!
In today's highly competitive business environments, managers must be able to make increasingly complex decisions-decisions that sometimes determine whether a firm prospers or even survives. Now more than ever, top-notch managers are relying on economic analysis to make the right business decisions.
That's why William F. Samuelson and Stephen G. Mark's Fourth Edition of MANAGERIAL ECONOMICS illustrates the central problems you're likely to face as a manager, provides the economic analysis techniques you need to guide your decisions, and shows how these techniques are used by practicing managers. Updated with modern management techniques, Fourth Edition features many revised applications, and new and expanded coverage of game theory, decision making under uncertainity, international topics, e-commerce, and the Internet.
Features Managerial decision making is emphasized and woven throughout every chapter in the book. Real-world applications throughout the text challenge you to ponder possible choices. End-of-chapter spreadsheet problems offer a powerful way of portraying economic decisions and finding optimal solutions without a large investment in calculus methods. Shows how to use game theory to analyze the firm's strategic choices. Explains how to use decision trees to structure decisions in highrisk environments. Includes expanded coverage of international topics and applications. E-commerce applications appear throughout the text.
About the Author
William F. Samuelson is professor of economics and finance at Boston University School of Management. He received his B.A. and Ph.D. from Harvard University. His research interests include game theory, decision theory, bidding, bargaining, and experimental economics. He has published a variety of articles in leading economics and management science journals including The American Economic Review, The Quarterly Journal of Economics, Econometrica, The Journal of Finance, Management Service, and Operations Research. His teaching and research have been sponsored by the National Science Foundation and National Institute for Dispute Resolution, among others. He is currently on the editorial boards fo the Journal of Economic Behavior and Organization and Group Decision and Negotiation.
Stephen G. Marks is professor and associate dean of academic affairs at Boston University School of Law. He received his J.D., M.A., and Ph.D. from the University of California-Berkeley. He has taught in the areas of managerial economics, finance, corporate law, and securities regulation. His research interests include corporate governance, law and economics, finance, and information theory. He has published his research in various law reviews and in such journals as The American Economic Review, The Journal of Legal Studies, and The Journal of Financial and Quantitative Analysis.
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