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Teach your MBA students how to use economics to solve business problems with this breakthrough text. MANAGERIAL ECONOMICS: A PROBLEM SOLVING APPROACH, 3E covers traditional material using a problem-based pedagogy built around common business mistakes. Models are used sparingly, and then only to the extent that they help students figure out why mistakes are made, and how to fix them. This edition's succinct, fast-paced presentation and challenging, interactive applications place students in the role of a decision maker who has to not only identify profitable decisions, but also implement them. The lively book provides an excellent ongoing reference for students pursuing business careers. Instructor's remark, "The Froeb/McCann/Shor/Ward textbook is designed for decision makers. Each chapter provides logical steps to solve common but misunderstood business problems. The books candor and novelty make for easy, enjoyable reading."
- Economics CourseMate offers a dynamic way to bring course concepts to life with interactive learning, study, and exam preparation tools that support the text. Watch student comprehension soar with an interactive e-book, chapter outlines, chapter summaries, flash cards, Luke Froeb's blog, video lectures, interactive quizzing, related links, and more! Engagement Tracker, a first-of-its-kind tool, monitors student engagement and progress.
- New Test Bank: A test bank of 1,000 multiple-choice questions and 100 short answer questions facilitate evaluation of your students progress and comprehension. All questions are linked to chapters and identified by degree of difficulty.
- Increased number of End of Chapter Questions: More questions have been added to the end of each chapter and students can now check their understanding by looking at the answers to the odd numbered questions.
- Updated Anecdotes: Many of the examples have been updated to reflect recent managerial decisions.
- Updated Content and Improved Pedagogy: All of the chapters have been carefully rewritten and updated based on customer feedback.
- STRONG, PROVEN, MBA-LEVEL PRESENTATION EMPHASIZES PROBLEM-SOLVING: Written specifically for the MBA-level managerial economics class, this book's solid pedagogy teaches students to solve problems rather than simply learn models. Students connect economics to decisions made on the job. This book emphasizes fewer math and technical models, as well as fewer graphs and figures than traditional managerial economics texts, but provides a much stronger emphasis on today's real business world.
- INTERACTIVE END-OF-CHAPTER MATERIAL PLACES STUDENTS IN ROLE OF DECISION MAKER: A variety of effective end-of-chapter applications present real business scenarios that give students the opportunity to resolve actual business problems and pursue the most profitable and rational decisions. Eight to 10 end-of-chapter scenarios for every chapter provide excellent choices for individual assignments, group projects, or class discussions.
- FIRST CHAPTER CLEARLY INTRODUCES BOOK'S SUBJECT MATTER: Students begin with a strong foundation and understanding of the managerial economics to follow as Chapter 1 overviews and introduces the principles with an emphasis on how economics impact today's business decisions.
- HIGH LEVEL OF READABILITY ENSURES STUDENT COMPREHENSION: Both instructors using this text and reviewers agree that this edition offers a highly effective level of readability to make sure your students thoroughly understand concepts and how they apply before moving ahead. Succinct lessons present relevant theory in an accessible and compact way, while learning features enable students to clearly understand the theory and immediately apply it.
SECTION I: PROBLEM SOLVING AND DECISION MAKING.
1. Introduction: What This Book Is About.
2. The One Lesson of Business.
3. Benefits, Costs, and Decisions.
4. Extent (How Much) Decisions.
5. Investment Decisions: Look Ahead and Reason Back.
SECTION II: PRICING, COSTS, AND PROFITS.
6. Simple Pricing.
7. Economies of Scale and Scope.
8. Short-run Market-level Pricing.
9. Long-run Market-level Pricing.
10. Strategy—The Quest to Keep Profit from Eroding.
11. Foreign Exchange, Trade, and Bubbles.
SECTION III: PRICING FOR GREATER PROFIT.
12. More Realistic and Complex Pricing.
13. Direct Price Discrimination.
14. Indirect Price Discrimination.
SECTION IV: STRATEGIC DECISION MAKING.
15. Strategic Games.
SECTION V: Uncertainty.
17. Making Decisions with Uncertainty.
19. The Problem of Adverse Selection.
20. The Problem of Moral Hazard.
SECTION VI: Organizational Design.
21. Getting Employees to Work in the Firm's Best Interests.
22. Getting Divisions to Work in the Firm's Best Interests.
23. Managing Vertical Relationships.
SECTION VII: WRAPPING UP.
23. You Be the Consultant.
Epilogue: Can Those Who Teach, Do?
Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.
Instructor's Companion Website
Expand students' understanding and streamline class preparation with the numerous instructor and student resources available on this edition's robust companion website. Easily download password-protected instructor resources, including the Solution's Manual, Test Bank powered by Congerno®, and PowerPoint® slides.
Cengage Learning Testing, powered by Cognero® Instant Access for Froeb/McCann/Ward/Shor's Managerial Economics
Cengage Learning Testing powered by Cognero® is a flexible, online system that allows you to: import, edit, and manipulate content from the text's test bank or elsewhere, including your own favorite test questions; create multiple test versions in an instant; and deliver tests from your LMS, your classroom, or wherever you want.