Broader and more varied in its coverage than other books of readings at the intermediate level, this volume provides a balance between theoretical presentations, case studies, articles using empirical evidence, and papers that apply economic principles to real-world situations.
Economic decisions are at the heart and soul of modern business and almost every business process has been subjected to economic analysis. Much of this analysis is applied microeconomics, in one form or another. Recently the emphasis in managerial economics courses has swung towards business studies and this new edition reflects this shift. Two chapters on traditional topics have been dropped and new chapters have been intorduced on important and contemporary subjects.
This new edition places increased emphasis on strategic behaviour such as oligopoly and game theory. Further coverage is given on international issues and students are helped with calculus-based exercises. The latest effects of technological change are clearly presented.