Managerial Economics A Problem-Solving Approach

ISBN-10: 1439077983
ISBN-13: 9781439077986
Edition: 2nd 2010
List price: $250.95
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Book details

List price: $250.95
Edition: 2nd
Copyright year: 2010
Publisher: Cengage South-Western
Publication date: 9/11/2009
Binding: Hardcover
Pages: 352
Size: 7.50" wide x 9.00" long x 0.75" tall
Weight: 1.540
Language: English

Professor Froeb received his undergraduate degree from Stanford University and his Ph.D. from the University of Wisconsin. When the antitrust agencies began using his models to predict the competitive effects of mergers, his academic research passed what he calls "a market test." This resulted in his 2003 appointment to Chief Economist of the Federal Trade Commission where he enforced the antitrust and consumer protection laws of the United States. He also managed 75 economists who tore down barriers to competition (often erected by well-meaning bureaucrats). In July 2005 Dr. Froeb returned to Vanderbilt University where today he holds the William Oehmig Chair of Entrepreneurship and Free Enterprise. He used to win the "Most Outstanding Teacher" award, but now he finishes behind his co-author, Brian McCann. His textbook, MANAGERIAL ECONOMICS: A PROBLEM-SOLVING APPROACH is well recognized for teaching students to apply economics to real business problems. It is filled with real world problems (and solutions) from Professor Froeb's students and clients. Dr. Froeb's research focuses on the economics of competition policy. He has taught at Tulane University, worked at the U.S. Department of Justice, and spent a year at the University of Chicago Law School.

Dr. Brian T. McCann has taught courses in managerial economics, strategic management, and entrepreneurship at the undergraduate, MBA and executive education levels. He holds an MBA from Vanderbilt University where he earned the Founder's Medal as the top graduate of the class. Dr. McCann received his doctoral training in strategic management at Purdue University's Krannert School of Management where he was awarded the Ross Fellowship, the Krannert Certificate for Distinguished Teaching, and the Purdue Research Foundation Research Grant. His more than 10 years of industry experience include operating a residential land development company, serving as the CFO for an Internet start-up, and implementing new strategic initiatives for a non-profit economic development group. In addition to co-authoring this MBA-level textbook in managerial economics, Dr. McCann's work has appeared or is forthcoming in journals, such as STRATEGIC MANAGEMENT JOURNAL, JOURNAL OF MANAGEMENT, and JOURNAL OF MANAGEMENT STUDIES. His current research interests span strategic management and entrepreneurship and include the performance implications of firm agglomeration, the effects of ownership structure on competitive behaviors, and the role of threshold-based decision making in the entrepreneurial process.

Preface: Teaching Students to Solve Problems
Problem Solving And Decision Making
Introduction: What This Book Is About
The One Lesson of Business
Benefits, Costs, and Decisions
Extent (How Much) Decisions
Investment Decisions: Look Ahead and Reason Back
Price, Cost, And Profit
Simple Pricing
Economies of Scale and Scope
Understanding Markets and Industry Changes
Relationships Between Industries: The Forces Moving Us Towards Long-Run Equilibrium
Strategy, the Quest to Slow Profit Erosion
Using Supply and Demand: Trade, Bubble, Market Making
Pricing For Greater Profit
More Realistic and Complex Pricing
Direct Price Discrimination
Indirect Price Discrimination
Strategic Decision Making
Strategic Games
Bargaining
Uncertainty
Making Decisions with Uncertainty
Auctions
The Problem of Adverse Selection
The Problem of Moral Hazard
Organizational Design
Getting Employees to Work in the Firm's Best Interests
Getting Divisions to Work in the Firm's Best Interests
Managing Vertical Relationships
Wrapping Up
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