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Microeconomics for Managers Principles and Applications

Authors

Richard B. McKenzie
, University of California, Irvine,
D. Eric Schansberg
, Indiana University Southeast,
Dwight R. Lee
, University of Georgia
Published 2024

Description

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…

New in this edition

  • Text is both fully updated and more concise

  • New chapter on political economy with applications to business

  • New online appendix with more advanced mathematical applications

  • Four new online chapters (on behavioral economics, the environment, international trade and finance and macroeconomics)

  • Full bibliography now available online, with updated video and further reading suggestions among a wealth of other resources

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Key features

  • Low level of math in the text is supported by a new online appendix with more advanced mathematical applications, catering also to courses with more mathematical rigor
  • Distinctive focus on using real world examples and applying economic concepts to understand how firms operate and how agents in the firms make decisions
  • Engaging and readable writing style; contains provocative perspective sections to stimulate discussion
  • End of chapter 'Practical Lessons' for MBAs sections that convert the key points of the chapter to practical advice for future managers

About the book

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