Managerial Economics, 12th Edition
- includes InfoApps 2-Semester Printed Access Card
- Mark Hirschey
- ISBN-10: 0324584849
- ISBN-13: 9780324584844
- 844 Pages | Hardcover
- Previous Editions: 2006, 2003, 1996
- COPYRIGHT: 2009 Published
The economic concepts presented in MANAGERIAL ECONOMICS, 12e, show students how to use common sense to understand business and solve managerial problems. This innovative text helps students develop and sharpen their economic intuition--an invaluable skill that helps students, as future managers, decide which products to produce, costs to consider, and prices to charge, as well as the best hiring policy and the most effective style of organization. With its unique integrative approach, the text presents the firm as a cohesive, unified organization and demonstrates that important business decisions are interdisciplinary. A basic valuation model is constructed and used as the underlying economic model of the firm; each topic is then related to an element of the value maximization model--a process that shows how management integrates accounting, finance, marketing, personnel, and production functions. The text also provides an intuitive guide to marginal analysis and basic economic relations. Once students grasp the importance of marginal revenue and marginal costs, the process of economic optimization becomes intuitively obvious. In addition, a wide variety of examples and simple numerical problems vividly illustrate the application of managerial economics to a vast assortment of practical situations. By studying the material in MANAGERIAL ECONOMICS, 12e, those seeking to further their business careers learn how to more effectively collect, organize, and analyze information. They gain powerful tools that can help them become more successful--and satisfied--in their careers.
"Dr. Hirschey, I am preparing for my final in Managerial Economics, and I thought I would drop you an email to thank for writing such a great textbook. I don’t know how many thank you notes you get, but you did a superb job in writing this text. I am no mathematical genius, and I really have a good shot at an A in this class. Thanks for writing something PRACTICAL."
— Doug Carlile, The University of the Incarnate Word, San Antonio, TX
Part 1: OVERVIEW OF MANAGERIAL ECONOMICS.
1. Nature and Scope of Managerial Economics.
2. Economic Optimization.
3. Demand and Supply.
Part 2: DEMAND ANALYSIS AND ESTIMATION.
4. Demand Analysis.
5. Demand Estimation.
Part 3: PRODUCTION AND COMPETITIVE MARKETS.
7. Production Analysis and Compensation Policy.
8. Cost Analysis and Estimation.
9. Linear Programming.
10. Competitive Markets.
11. Performance and Strategy in Competitive Markets.
Part 4: IMPERFECT COMPETITION.
12. Monopoly and Monopsony.
13. Monopolistic Competition and Oligopoly.
14. Game Theory and Competitive Strategy.
15. Pricing Practices.
Part 5: LONG-TERM INVESTMENT DECISIONS.
16. Risk Analysis.
17. Capital Budgeting.
18. Organization Structure and Corporate Governance.
19. Government in the Market Economy.
All supplements have been updated in coordination with the Main title.
Please see Main title page for new to this edition information.
Prepared by the author, case study data for the in-text cases are available electronically to adopters at academic.cengage.com/economics/hirschey.Excel™ for Economics (ISBN-10: 0324314884 | ISBN-13: 9780324314885)
These powerful Excel® spreadsheets are a student's interactive introduction to a revolutionary approach to learning managerial economics. The power of these text-specific Excel® spreadsheets--on either the PC or Macintosh platform--is used to present economics models in a live, interactive context. These files are available for download at the text's Student Companion Web Site.