Transactions and Strategies: Economics for Management (with InfoApps), 1st Edition
- includes InfoApps.
- Robert J. Michaels
- ISBN-10: 0324314132
- ISBN-13: 9780324314137
- 576 Pages | Hardcover
- COPYRIGHT: 2011 Published
The first and only text for managerial economics to be organized around Oliver Williamson's basic paradigm, TRANSACTIONS AND STRATEGIES: ECONOMICS FOR MANAGERS takes a modern approach to managerial economics that is uniquely suited to today's business students. Organized around the idea that transactions are the fundamental unit of economics and that their governance by markets, contracts, or organizations is the most important economic question for businesses to cope with, this revolutionary text brings the course materials for managerial economics up to date with the theory and practice of the field. The first half of the text covers the familiar economic theory of markets when transactions are standardized while the second half focuses on contracts, risk and asymmetric information, and organizational design. Vivid examples found in each chapter highlight important concepts and help your students become informed business decision makers.
PART I CREATING ECONOMIC VALUE.
1 Reasoning with Economics: Models and Information.
2 Transactions and Institutions: The Building Blocks.
PART II MARKETS.
4 Cost and Production.
5 Extreme Markets I: Perfect Competition.
6 Extreme Markets II: Monopoly.
7 Between the extremes: Interaction and Strategy.
8 Competition and Strategy.
PART III CONTRACTS.
9 Beyond Markets; Property and Contracts.
10 The Economics of Contracts.
11 Risk and Information in Contracts.
PART IV ORGANIZATIONS.
12 Organizations in Concept and Practice.
13 Organizational Design.
PART V APPLICATIONS: VERTICAL INTEGRATION AND EMPLOYMENT.
14 Vertical Relationships.
15 Employment Relationships.
16 Time, Risk and Options.
17 Conflict, Negotiation and Group Choice.
All supplements have been updated in coordination with the Main title.
Please see Main title page for new to this edition information.
Microsoft® PowerPoint® slides let you incorporate images from the book right into your lectures. Available on IRCD and on the website at www.cengage.com/economics/michaels, these detailed PowerPoint slides include lecture outline points for each chapter as well as key figures from the book. The slides can be customized by instructors to create their own unique presentations. Available on the Instructor's Resource CD.Test Bank (ISBN-10: 0538466561 | ISBN-13: 9780538466561)
Simplify testing and assessment using this printed selection of multiple choice, true/false, and short answer/essay questions. The questions are written to meticulously cover all pertinent points in each chapter and incorporate varying degrees of difficulty. Available on the Instructor's Resource CD.ExamView (ISBN-10: 0538467010 | ISBN-13: 9780538467018)
Featuring automatic grading, ExamView® allows you to create, deliver, and customize tests and study guides (both print and online) in minutes. See assessments onscreen exactly as they will print or display online. Build tests of up to 250 questions using up to 12 question types and enter an unlimited number of new questions or edit existing questions. Available on the Instructor's Resource CD.Instructor's Manual (ISBN-10: 0538467037 | ISBN-13: 9780538467032)
Streamline and maximize the effectiveness of your course preparation using such resources as chapter outlines, helpful teaching tips, examples for each chapter, and answers to all of the end-of-chapter Questions and Problems as well as in-chapter Checkpoint and For Further Thought Questions. Available on the Instructor's Resource CD.ExamView (ISBN-10: 053846710X | ISBN-13: 9780538467100)
Featuring automatic grading, ExamView® allows you to create, deliver, and customize tests and study guides (both print and online) in minutes. See assessments onscreen exactly as they will print or display online. Build tests of up to 250 questions using up to 12 question types and enter an unlimited number of new questions or edit existing questions. Available on the Instructor's Resource CD.