Description
Managerial Economics: Tools for Analyzing Business Strategy by Thomas J. Webster, ISBN-13: 978-1498507950
[PDF eBook eTextbook]
- Publisher: Lexington Books (March 24, 2017)
- Language: English
- 442 pages
- ISBN-10: 1498507956
- ISBN-13: 978-1498507950
Each year, thousands of businesses file for bankruptcy protection because managers fail to efficiently organize the company’s operations, misread market trends, pay inadequate attention to product quality, or misinterpret the activities and intentions of rival companies. Perhaps they fail to formulate optimal advertising or financing strategies, procure raw materials and components at least cost, or provide adequate incentives to motivate workers to put forth their best efforts. Managerial economics is the application of economic principles to topics of concern to managers.
This textbook develops a framework for predicting managerial responses to changes in the business environment. It combines the various business disciplines with quantitative methods to identify optimal solutions to more efficiently achieve a firm’s organizational objectives. The topics discussed in this textbook are readily accessible to students with a background in the principles of microeconomics and business mathematics. The selection and organizations of topics makes the textbook appropriate for use in a wide range of curricula by students with different backgrounds.
Table of Contents:
1 Managerial Economics and Strategy 1
2 Demand and Supply 21
3 Elasticity 55
4 Production and Cost 77
5 Profit Maximization 111
6 Corporate Structure and Culture 139
7 Industry Organization 169
8 Perfect Competition and Monopoly 193
9 Imperfect Competition 219
10 Thinking Strategically 239
11 Pricing Strategies 267
12 Bargaining 303
13 Economics of Information 315
14 Contracts 355
15 Auctions 367
16 Networks 381
Appendix: Regression Analysis 393
Glossary 405
References 423
Index 427
About the Author 435
Thomas J. Webster is professor of economics in the Department of Finance and Economics of Pace University’s Lubin School of Business.
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