Appropriate for courses in Business, Engineering or Managerial Economics, Agricultural and Forest Economics, and Engineering Technology Economics.
This applied text is suitable for both students and practitioners. Revised structure of the text provides a streamlined evolution of concepts and principles, while preserving the strengths of the previous edition.
Includes a better discussion of non-economic criteria and benefits in the decision making process.
Discusses practical examples illustrating the application of economic decision analysis to the service industry.
Includes robust discussion of decision making through the use of graphical displays and subjectivity.
Includes a new chapter discussing loans, bonds, working capital, exchange rates and equity. (Ch. 9)
Devotes a new chapter to estimates and decision making, including a treatment of learning curves.
Extends economic decision models to include the production function.
I. INTRODUCTION.1. Formulating Economic Decisions.
II. EVALUATING DECISION ALTERNATIVES.4. Interest and Economic Equivalence.
III. FINANCE, ACCOUNTING, AND TAXES.9. Economic Aspects of Finance.
IV. ESTIMATES, RISK, AND UNCERTAINTY.12. Adjustment Estimated Elements.
V. ECONOMIC DECISION MODELS.16. Models and Economic Modeling.
VI. APPENDICES.Appendix A. Interest Factor Tables.