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Managerial Economics 3rd edition



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Managerial Economics 3rd edition

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Managerial Economics 3rd edition

ISBN: 1133951481

ISBN-13: 9781133951483

Authors: Luke M Froeb, Brian T McCann, Michael R Ward, Michael Royce Ward, Mikhael Shor

Publisher: Cengage Learning

Details of the book:

For students of management studies nothing is more important than understanding how best to take decisions in the corporate settings, and avoid the most commonplace of errors. Managerial Economics 3rd ed. helps student to realize this goal exactly. The authors carefully integrate traditionally utilized and passed on knowledge along with problems where these knowledge can be applied. To keep confusions at pay as far as possible, the authors utilize models for explanation only where necessary. The book boasts of effective and useful knowledge conveyed through lucid and graspable language and presentation. A very user friendly book, the 3rd edition of managerial economics creates an interactive ambience for students, and helps them realize which are the correct decisions to be made, and in what situations; also great care is taken to help students realize which are the mistakes easily committed and thus to be avoided at all costs. However, in case a mistake is made, the knowledge derived from this text will enable the students to draw upon them and devise a method rectification.


Topics covered by the authors of this text are as follows;


  • Decision making and problem solving - Planning for the future and reasoning with it, utilizing historical experience and knowledge. Weighing all benefits and costs and then making a decision.

  • Understanding markets and the occurring changes in the industry - Issues of costs, pricing and profits.

  • Intricacies involved in the process of pricing - Kinds of discrimination etc.

  • Utilization of strategic models in decision making procedures - Bargaining and games.

  • Organizational set up and design - Helping the employees tie their personal gains with the firms and working as one whole, proper management of hierarchical relations and chain of command.

  • Uncertainty - Unpredictable issues and working with their risk, problems arising from moral hazard and adverse selection etc.

 

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