Economics for Managers, Global Edition (3^rd Ed.)

For one semester MBA Managerial Economics courses

Economics for Managers presents the fundamental ideas of microeconomics and macroeconomics and integrates them from a managerial decision-making perspective in a framework that can be used in a single-semester course.

To be competitive in today?s business environment, managers must understand how economic forces affect their business and the factors that must be considered when making business decisions. This is the only book that provides business students and MBAs with a thorough and applied understanding of both micro- and macroeconomic concepts in a way non-economics majors can understand.

The third edition retains all the same core concepts and straightforward material on micro- and macroeconomics while incorporating new case material and real-world examples that relate to today?s managerial student.

• PART 1. MICROECONOMIC ANALYSIS 
• 1. Managers and Economics  
• 2. Demand, Supply, and Equilibrium Prices  
• 3. Demand Elasticities  
• 4. Techniques for Understanding Consumer Demand and Behavior  
• 5. Production and Cost Analysis in the Short Run  
• 6. Production and Cost Analysis in the Long Run  
• 7. Market Structure: Perfect Competition  
• 8. Market Structure: Monopoly and Monopolistic Competition  
• 9. Market Structure: Oligopoly  
• 10. Pricing Strategies for the Firm  
• PART 2. MACROECONOMIC ANALYSIS  
• 11. Measuring Macroeconomic Activity  
• 12. Spending by Individuals, Firms, and Governments on Real Goods and Services
• 13. The Role of Money in the Macro Economy  
• 14. The Aggregate Model of the Macro Economy  
• 15. International and Balance of Payments Issues in the Macro Economy  
• PART 3. INTEGRATION OF THE FRAMEWORKS  
• 16. Combining Micro and Macro Analysis for Managerial Decision Making  
• SOLUTIONS TO EVEN-NUMBERED PROBLEMS 
• GLOSSARY 
• INDEX
  
  
  

Part 1, Microeconomics Analysis: Focuses on how individual consumers and businesses interact with each other in a market economy.
Part 2, Macroeconomics Analysis: Looks at the aggregate behavior of different sectors of the economy to determine how changes in behavior influence the overall level of economic activity.

Part 3, Integration of Frameworks: Touches back on those principles learned in Parts I & II and emphasizes that changes in the macro environment affect individual firms and industries through the microeconomic factors of demand, production, cost, and profitability.

Straightforward Mathematics: Students are dissatisfied when their MBA economics courses are taught from a traditional and mathematical perspective, which is why you’ll find no calculus in this text, only basic algebra and graphs. The algebraic examples are kept to a minimum and used only after the basic concepts are covered.

Chapter Opening Cases for Analysis: Each chapter begins with a Case for Analysis section that includes a case drawn from the current news media that illustrates issues in the chapter. The topic in the case is then directly tied to the chapter material. The chapter concludes by reviewing how the chapter material relates to the introductory case, allowing students to go from concrete examples, to the relevant economic theory, and then back to how they apply in the real-world. For example:

• Chapter 1 - The case on the global automobile industry includes a discussion of the microeconomic factors influencing competition among the major players in the industry and the impact of macroeconomic changes on the entire industry.
• Chapter 2 — This chapter updates the case on the copper industry that introduces the concepts of demand and supply and shows the extreme volatility of prices in a competitive industry. The current discussion highl