|The Economics of Managerial Decisions, Global Edition||
The Economics of Managerial Decisions, Global Edition
This title is a Pearson Global Edition. The Editorial team at Pearson has worked closely with educators around the world to include content, which is especially relevant to students outside the United States.
For courses in managerial economics.
Teaching students managerial economics through real examples, real businesses, with real-life situations
The Economics of Managerial Decisions, 1st Edition teaches students how to make business decisions by blending the qualitative and quantitative aspects of the course. Using examples from different sectors of the economy, the authors present real examples, such as Pizza Hut, to teach the concepts of production and cost, and KV Pharmaceuticals, to talk about monopoly — helping students see how theory is applied in different contexts. Students learn these skills and then master them using Excel Projects within the accompanying MyLab™, to ensure they not only understand, but can also apply, the economics of making a managerial decision.
MyLab Economics is not included. Students, if MyLab Economics is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN. MyLab Economics should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information.
Reach every student by pairing this text with MyLab EconomicsMyLab is the teaching and learning platform that empowers you to reach every student. By combining trusted author content with digital tools and a flexible platform, MyLab personalizes the learning experience and improves results for each student.
Real examples pique students’ interest
· Real-world examples rouse students’ curiosity at the beginning of the chapter with a managerial decision-making question/challenge faced by a number of different types of organizations, including large and small profit-seeking firms, government organizations, NGOs, and non-profits. This question is then revisited and chapter content is applied to provide an answer at the end of the chapter.
· Integrated examples throughout the chapter present economic concepts in the context of business scenarios from a range of industries.
Practical application help students build their critical-thinking and decision-making skills
· Managerial Application. Fifteen of the sixteen chapters include a major numbered section devoted to managerial applications of the chapter content, so students can more fully develop the skills they’ll need as future managers.
· Solved Problems guide students step-by-step in solving a managerial problem, set in the context of a situation managers may encounter. A similar online problem is located in MyLab Economics so students can build their managerial problem-solving skills.
· Solved Problem and Decision Snapshots place readers in the role of managers facing a decision in a range of industries, including large and small for-profit firms, public service organizations, and non-profits. A solution is included so students can confirm the decision they have made.
· 4 Case Studies illustrate how managers used the topics in the chapter to approach or solve a business challenge issue. Discussion includes decision-making using regression, student athletes and the NCAA, decision-making with final offer arbitration, and analyzing predatory pricing as an investment. Case studies conclude with open-ended questions about another similar situations that instructors can use for class discussion or assign as homework.
· End-of-Chapter Questions and Problems accompany learning objectives so that instructors can easily assign problems based on these objectives, and students can efficiently review material that they find difficult. Students can complete these problems and questions in MyLab Economics, where they receive tutorial help, and receive instant feedback and assistance on exercises they answer incorrectly.
· Optional Calculus Appendices. Algebra and geometry are used throughout the book as this level is appropriate for managers. For those who want to delve more deeply into the math, appendices showing calculus derivations of the important results accompany 9 of the 16 chapters (Chapters 1, 3, 4, 5, 6, 7, 10, 12, and 13). Each appendix includes 5 homework problems that use calculus.
MyLab™ Economics is not included. Students, if MyLab Economics is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN. MyLab Economics should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information.
· Deliver trusted content: You deserve teaching materials that meet your own high standards for your course. That’s why we partner with highly respected authors to develop interactive content and course-specific resources that you can trust — and that keep your students engaged.
· Empower each learner: Each student learns at a different pace. Personalized learning pinpoints the precise areas where each student needs practice, giving all students the support they need — when and where they need it — to be successful.
o Learning Aids. MyLab Economics homework and practice questions are correlated to the textbook, regenerate algorithmically to give students unlimited opportunity for practice and mastery, and offer helpful feedback when students enter incorrect answers. Learning aids, such as Help Me Solve This problem walkthroughs, provide extra help for students at the point-of-use.
· Teach your course your way: Your course is unique. So whether you’d like to build your own assignments, teach multiple sections, or set prerequisites, MyLab gives you the flexibility to easily create your course to fit your needs.Improve student results: When you teach with MyLab, student performance improves. That’s why instructors have chosen MyLab for over 15 years, touching the lives of over 50 million students.
PART I: ECONOMIC FOUNDATIONS
1. Managerial Economics and Decision Making
2. Demand and Supply
3. Measuring and Using Demand
PART II: MARKET STRUCTURES AND MANAGERIAL DECISIONS
4. Production and Costs
5. Perfect Competition
6. Monopoly and Monopolistic Competition
7. Cartels and Oligopoly
8. Game Theory and Oligopoly
9. A Manager’s Guide to Antitrust Policy
PART III: MANAGERIAL DECISIONS
10. Advanced Pricing Decisions
11. Decisions About Vertical Integration and Distribution
12. Decisions About Production, Products, and Location
13. Marketing Decisions: Advertising and Promotion
14. Business Decisions Under Uncertainty
15. Managerial Decisions About Information
16. Using Present Value to Make Multi-Period Managerial Decisions
The following content is posted on www.pearsonglobaleditions.com:
WEB APPENDIX: The Business PlanWEB CHAPTER: Franchising Decisions