What Is Managerial Economics With Examples
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Managerial Economics in a Global Economy
Author: Dominick Salvatore
language: en
Publisher: South Western Educational Publishing
Release Date: 2000-09
Managerial economics refers to the application of economic theory and the tools of analysis of decision science to examine how a firm can make optimal managerial decisions in the face of constraints it faces.
Managerial Economics
1. The Nature and Scope of Managerial Economics 2. Determinants of Market Demand and the Law of Demand 3. Elasticity of Demand 4. Demand Forecasting 5. Production Function 6. Supply 7. Cost of Production 8. Break-even Analysis 9. Market Forms 10. Competitive Equilibrium Price 11. Pricing Under Perfect Competition 12. Monopoly 13. Price Discrimination 14. Pricing Under Monopolistic Competition 15. Oligopoly 16. Pricing Strategies and Methods 17. Government and Markets: Key Issues 18. Capital Budgeting.
Managerial Economics
Traditional microeconomic theory has much to offer a manager. It suggests ways to increase profits by setting prices and packaging services, using advertising to increase demand and shows how internet auction sites like eBay affect competition and profitability. By using game theory to present and solve a manager’s decision-making problems and by focusing on the strategic nature of these problems, this text makes microeconomic theory much more intuitive and relevant for the business student. The text is separated into four sections: basic microeconomic theory of the firm and the basic tools of game theory problems related to the strategic interaction between firms, including price and quantity competition and product differentiation issues arising from strategic interactions within the firm, including vertical and horizontal integration, training and motivating workers, and labour unions marketing economics including information problems, advertising, durable goods and the product life cycle. This book will be suitable for any student with a background of introductory economics. The authors include a variety of international examples and case studies from the business world to expand and illustrate key concepts, and provide end-of-chapter exercises to test students’ grasp of the material. An online supplement comprising of problems and solutions as well as PowerPoint slides is available for lecturers.