Learn how to use managerial economics to diagnose and solve business problems with Froeb/McCann/Ward/Shor's MANAGERIAL ECONOMICS: A PROBLEM SOLVING APPROACH, 6E. This breakthrough text offers a succinct and 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. The authors use models only to help you determine why mistakes are made and how to fix them. The latest economic updates introduce the most recent economic developments and current economic challenges worldwide.
- INTERACTIVE END-OF-CHAPTER MATERIAL PLACES THE STUDENT INTO THE ROLE OF DECISION MAKER. A variety of updated end-of-chapter applications present real, contemporary business scenarios. Students have the opportunity to resolve actual business problems and pursue the most profitable and rational decisions. Eight to ten end-of-chapter scenarios for every chapter provide excellent choices for individual assignments, group projects or class discussions.
- The foundational chapter overviews and introduces principles with an emphasis on how economics impact today's managerial business decisions.
- This edition offers a highly effective level of readability to make sure your students thoroughly understand concepts and how they apply. Succinct lessons present relevant theory in an accessible way, while updated content and learning features enable students to clearly understand theory and immediately apply it.
Part I: PROBLEM SOLVING AND DECISION MAKING
1. Introduction: Incentive Alignment
2. The One Lesson of Business
3. Benefits, Costs, and Decisions
4. Extent (How Much) Decisions
5. Investment Decisions: Look Ahead and Reason Back
Part II: PRICING, COST, AND PROFITS
6. Simple Pricing
7. Economies of Scale and Scope
8. Understanding Markets and Industry Changes
9. Market Structure and Long-Run Equilibrium
10. Strategy: The Quest to Keep Profit from Eroding
11. Foreign Exchange, Trade, and Bubbles
Part III: PRICING FOR GREATER PROFIT
12. More Realistic and Complex Pricing
13. Direct Price Discrimination
14. Indirect Price Discrimination
Part IV: STRATEGIC DECISION MAKING
15. Strategic Games
16. Bargaining
Part V: UNCERTAINTY
17. Making Decisions with Uncertainty
18. Auctions
19. The Problem of Adverse Selection
20. The Problem of Moral Hazard
Part VI: ORGANIZATIONAL DESIGN
21. Getting Employees to Work in the Firm's Best Interest
22. Getting Divisions to Work in the Firm's Best Interest
23. Managing Vertical Relationships
Part VII: WRAPPING UP
24. You Be the Consultant
Luke M. Froeb
Dr. Luke M. Froeb received his undergraduate degree from Stanford University and Ph.D. from the University of Wisconsin.
Brian T. McCann
Dr. Brian T. McCann has taught courses in managerial economics, strategic management, decision making and entrepreneurship at the undergraduate, M.B.A. and executive education levels.
Michael R. Ward
Dr. Michael R. Ward teaches courses in managerial economics, economics of strategy, causal inference and digital business transformation.
Mike Shor
Dr. Mike Shor is a professor of economics at the University of Connecticut, where he conducts research in behavioral economics and game theory.
