Discover how to use managerial economics to both diagnose and solve business problems with this breakthrough text, designed specifically for MBA students. Froeb/McCann/Ward/Shor's MANAGERIAL ECONOMICS, 5E offers a succinct, fast-paced, yet challenging, approach full of invaluable insights. This edition incorporates less math and fewer technical models, graphs and figures than traditional managerial economics texts, while emphasizing the real decisions that today's managers face daily. You'll find this learning guide useful both now and throughout your business career. The latest economic updates keep you abreast of the most recent economic developments and current economic challenges worldwide. You learn how to apply economic theory to even the most formidable business challenges.

lgrsnf/1337106666.pdf

zlib/Business & Economics/Economics/Brian T. McCann, Michael R. Ward, Luke M. Froeb, Mikhael Shor/Managerial Economics: A Problem Solving Approach, 5e_5661707.pdf

Managerial Economics (MindTap Course List)

Luke M Froeb; Brian T McCann; Mikhael Shor; Michael Robert Ward

Luke M. Froeb; Brian T. McCann; Michael R. Ward; Mike Shor

Froeb, Luke M., McCann, Brian T., Ward, Michael R., Shor

Cengage South-Western

Cengage Learning EMEA (UK & Europe), [N.p.], 2017

United States, United States of America

5th edition, Boston, MA, 2020

5, 2017-09-19

5th, 2018

lg2713709

{"edition":"5","isbns":["1337106666","9781337106665"]}

Title Page
Copyright Page
Brief Contents
Contents
Preface: Teaching Students to Solve Problems
Section I: Problem Solving and Decision Making
Chapter 1: Introduction: What This Book Is About
1.1 Using Economics to Solve Problems
1.2 Problem-Solving Principles
1.3 Test Yourself
1.4 Ethics and Economics
1.5 Economics in Job Interviews
Summary & Homework Problems
End Notes
Chapter 2: The One Leson of Busines
2.1 Capitalism and Wealth
2.2 Does the Government Create Wealth?
2.3 How Economics Is Useful to Business
2.4 Wealth Creation in Organizations
Summary & Homework Problems
End Notes
Chapter 3: Benefits, Costs, and Decisions
3.1 Background: Variable, Fixed, and Total Costs
3.2 Background: Accounting versus Economic Profit
3.3 Costs Are What You Give Up
3.4 Sunk-Cost Fallacy
3.5 Hidden-Cost Fallacy
3.6 A Final Warning
Summary & Homework Problems
End Notes
Chapter 4: Extent (How Much) Decisions
4.1 Fixed Costs Are Irrelevant to an Extent Decision
4.2 Marginal Analysis
4.3 Deciding between Two Alternatives
4.4 Incentive Pay
4.5 Tie Pay to Performance Measures That Reflect Effort
4.6 Is Incentive Pay Unfair?
Summary & Homework Problems
End Notes
Chapter 5: Investment Decisions: Look Ahead and Reason Back
5.1 Compounding and Discounting
5.2 How to Determine Whether Investments Are Profitable
5.3 Break-Even Analysis
5.4 Choosing the Right Manufacturing Technology
5.5 Shut-Down Decisions and Break-Even Prices
5.6 Sunk Costs and Post-Investment Hold-Up
Summary & Homework Problems
End Notes
Section II: Pricing, Costs, and Profits
Chapter 6: Simple Pricing
6.1 Background: Consumer Values and Demand Curves
6.2 Marginal Analysis of Pricing
6.3 Price Elasticity and Marginal Revenue
6.4 What Makes Demand More Elastic?
6.5 Forecasting Demand Using Elasticity
6.6 Stay-Even Analysis, Pricing, and Elasticity
6.7 Cost-Based Pricing
Summary & Homework Problems
End Notes
Chapter 7: Economies of Scale and Scope
7.1 Increasing Marginal Cost
7.2 Economies of Scale
7.3 Learning Curves
7.4 Economies of Scope
7.5 Diseconomies of Scope
Summary & Homework Problems
End Notes
Chapter 8: Understanding Markets and Industry Changes
8.1 Which Industry or Market?
8.2 Shifts in Demand
8.3 Shifts in Supply
8.4 Market Equilibrium
8.5 Predicting Industry Changes Using Supply and Demand
8.6 Explaining Industry Changes Using Supply and Demand
8.7 Prices Convey Valuable Information
8.8 Market Making
Summary & Homework Problems
End Notes
Chapter 9: Market Structure and Long-Run Equilibrium
9.1 Competitive Industries
9.2 The Indifference Principle
9.3 Monopoly
Summary & Homework Problems
End Notes
Chapter 10: Strategy: The Quest to Kep Profit from Eroding
10.1 A Simple View of Strategy
10.2 Sources of Economic Profit
10.3 The Three Basic Strategies
Summary & Homework Problems
End Notes
Chapter 11: Foreign Exchange, Trade, and Bubles
11.1 The Market for Foreign Exchange
11.2 The Effects of a Currency Devaluation
11.3 Bubbles
11.4 How Can We Recognize Bubbles?
11.5 Purchasing Power Parity
Summary & Homework Problems
End Notes
Section III: Pricing for Greater Profit
Chapter 12: More Realistic and Complex Pricing
12.1 Pricing Commonly Owned Products
12.2 Revenue or Yield Management
12.3 Advertising and Promotional Pricing
12.4 Psychological Pricing
Summary & Homework Problems
End Notes
Chapter 13: Direct Price Discrimination
13.1 Why (Price) Discriminate?
13.2 Direct Price Discrimination
13.3 Robinson-Patman Act
13.4 Implementing Price Discrimination
13.5 Only Schmucks Pay Retail
Summary & Homework Problems
End Notes
Chapter 14: Indirect Price Discrimination
14.1 Indirect Price Discrimination
14.2 Volume Discounts as Discrimination
14.3 Bundling Different Goods Together
Summary & Homework Problems
End Notes
Section IV: Strategic Decision Making
Chapter 15: Strategic Games
15.1 Sequential-Move Games
15.2 Simultaneous-Move Games
15.3 Prisoners’ Dilemma
15.4 Other Games
Summary & Homework Problems
End Notes
Chapter 16: Bargaining
16.1 Strategic View of Bargaining
16.2 Nonstrategic View of Bargaining
16.3 Conclusion
Summary & Homework Problems
End Note
Section V: Uncertainty
Chapter 17: Making Decisions with Uncertainty
17.1 Random Variables and Probability
17.2 Uncertainty in Pricing
17.3 Data-Driven Decision Making
17.4 Minimizing Expected Error Costs
17.5 Risk versus Uncertainty
Summary & Homework Problems
End Notes
Chapter 18: Auctions
18.1 Oral Auctions
18.2 Second-Price Auctions
18.3 First-Price Auctions
18.4 Bid Rigging
18.5 Common-Value Auctions
Summary & Homework Problems
End Notes
Chapter 19: The Problem of Adverse Selection
19.1 Insurance and Risk
19.2 Anticipating Adverse Selection
19.3 Screening
19.4 Signaling
19.5 Adverse Selection and Internet Sales
Summary & Homework Problems
End Notes
Chapter 20: The Problem of Moral Hazard
20.1 Introduction
20.2 Insurance
20.3 Moral Hazard versus Adverse Selection
20.4 Shirking
20.5 Moral Hazard in Lending
20.6 Moral Hazard and the 2008 Financial Crisis
Summary & Homework Problems
End Notes
Section VI: Organizational Design
Chapter 21: Geting Employees to Work in the Firm’s Best Interests
21.1 Principal–Agent Relationships
21.2 Controlling Incentive Conflict
21.3 Marketing versus Sales
21.4 Franchising
21.5 A Framework for Diagnosing and Solving Problems
Summary & Homework Problems
End Notes
Chapter 22: Geting Divisions to Work in the Firm’s Best Interests
22.1 Incentive Conflict between Divisions
22.2 Transfer Pricing
22.3 Organizational Alternatives
22.4 Budget Games: Paying People to Lie
Summary & Homework Problems
End Notes
Chapter 23: Managing Vertical Relati onships
23.1 How Vertical Relationships Increase Profit
23.2 Double Marginalization
23.3 Incentive Conflicts between Retailers and Manufacturers
23.4 Price Discrimination
23.5 Antitrust Risks
23.6 Do Buy a Customer or Supplier Simply Because It Is Profitable
Summary & Homework Problems
End Notes
Section VII: Wrapping Up
Chapter 24: Test Yourself
24.1 Should You Keep Frequent Flyer Points for Yourself?
24.2 Should You Lay Off Employees in Need?
24.3 Manufacturer Hiring
24.4 American Airlines
24.5 Law Firm Pricing
24.6 Should You Give Rejected Food to Hungry Servers?
24.7 Managing Interest-Rate Risk at Banks
24.8 What You Should Have Learned
Epilogue: Can Those Who Teach, Do?
Glossary
Index

This book covers traditional material using a problem-based approach built around common business mistakes. Models are used sparingly, and then only to the extent that they assist readers in determining why mistakes are made and how to fix them. This edition's succinct, fast-paced presentation and challenging, interactive applications place the reader in the role of a decision maker who has to not only identify profitable decisions, but also implement them. The lively book and new corresponding online MindTap learning resources provides an excellent ongoing reference for future or current professionals pursuing business careers. -- publisher's description

2020-07-31