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Managerial Economics: Applications, Strategies and Tactics 14th Edition

James R. McGuigan | R. Charles Moyer | Frederick H.deB. Harris

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Overview

Teach your students to think analytically and make better decisions as future business leaders with MANAGERIAL ECONOMICS: APPLICATIONS, STRATEGIES AND TACTICS, 14th Edition. This timely edition shows how effective managers apply economic theory and techniques to solve real-world decision problems. Seasoned authors McGuigan, Moyer, and Harris balance a solid foundation of traditional microeconomic theory with extensive exploration of the latest analytical tools in managerial economics. Students master game-theoretic tactics, information economics, and organizational architecture.

James R. McGuigan,

James R. McGuigan owns and operates his own numismatic investment firm. Prior to this business, he was Associate Professor of Finance and Business Economics in the School of Business Administration at Wayne State University. He also taught at the University of Pittsburgh and Point Park College. Dr. McGuigan received his undergraduate degree from Carnegie-Mellon University; his M.B.A. at the Graduate School of Business at the University of Chicago and his Ph.D. from the University of Pittsburgh. In addition to his interests in economics, he has co-authored several well-known books on financial management.

R. Charles Moyer, University of Louisville

R. Charles Moyer earned his B.A. in Economics from Howard University and his M.B.A. and Ph.D. in Finance and Managerial Economics from the University of Pittsburgh. Dr. Moyer is Dean Emeritus of the College of Business at the University of Louisville and Professor of Finance and Entrepreneurship. He is Dean Emeritus and former holder of the GMAC Insurance Chair in Finance at the Babcock Graduate School of Management, Wake Forest University. Previously, he was Professor of Finance and Chairman of the Department of Finance at Texas Tech University. Dr. Moyer also has taught at the University of Houston, Lehigh University, and the University of New Mexico and spent a year at the Federal Reserve Bank of Cleveland. Dr. Moyer has taught extensively abroad in Germany, France, and Russia. In addition to this text, Moyer has coauthored two other financial management texts. He has been published in many leading journals, including Financial Management, Journal of Financial and Quantitative Analysis, Journal of Finance, Financial Review, Journal of Financial Research, International Journal of Forecasting, Journal of Economics and Business, Strategic Management Journal, and Journal of Industrial Organization. Dr. Moyer has been a member of the Board of Directors of King Pharmaceuticals, Inc. and is on the board of Capitala Finance Corporation, the board of Enterprise Community Fund I, the board of US WorldMeds, and the board of Summit Biosciences.

Frederick H.deB. Harris, Wake Forest University

Frederick H. deB. Harris (Rick) is Professor of Economics and Finance at the Schools of Business, Wake Forest University. Dr. Harris holds a Ph.D. from the University of Virginia and a Dartmouth College A.B. in Economics. His specialties are pricing tactics and capacity planning in product markets as well as price discovery in financial markets and security market design. He has taught managerial economics required courses in the M.A. in Management and M.B.A. programs and elective B.A., B.S., M.S., M.B.A., and Ph.D. courses at Wake Forest, the University of Texas, and William and Mary, as well as several universities in France, Italy, Germany, and Australia. Dr. Harris has earned two school-wide Educator of the Year awards and two Researcher of the Year awards. Other recognitions include Outstanding Faculty (Inc., 1998 and 2001), Outstanding Faculty (Business Week’s Guide to the Best Business Schools, 1997-2004), Board of Associate Editors (Journal of Industrial Economics, 1988-2003), and the Runner-up Prize (European Corporate Governance Institute, 2007). His numerous publications have appeared in leading journals in economics, finance, and operations, such as the Review of Economics and Statistics, The Journal of Financial and Quantitative Analysis, Journal of Financial Markets, The Journal of Operations Management, and The Journal of Business Ethics. He also writes with practitioners in the Journal of Trading from Institutional Investor Inc. and in the Inform’s Journal of Revenue and Pricing Management.

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  • FEATURES STRENGTHEN DECISION-MAKING SKILLS: “What Went Right/What Went Wrong” features, now included in all chapters, enable students to apply what they have learned to real-business decisions and examine the positive and negative outcomes of management decisions. These insightful features show the relevance of managerial economic insights to avoiding widely discussed corporate mistakes. Students learn how to critically evaluate good and bad decisions and anticipate the subsequent effects.
  • SESSION-SIZE PACKETS OFFER READINGS, ASSIGNMENTS, AND MORE FOR YOUR FLEXIBILITY: The latest content from this edition is now available in session packet filled with student exercises, author videos, text readings, and assignments. Aplia™ quizzes offer insightful feedback and subtle as well as basic insights regarding correct and incorrect answers.
  • REAL-WORLD EMPHASIS HIGHLIGHTS HANDS-ON PRACTICE: This edition provides more than 300 applications and examples from today’s practice that offer hands-on experience with the decision-making challenges students will face as managers -- as well as the tools most effective for solving those challenges. Each chapter opens with a unique Managerial Challenge illustrating an economic analysis problem related to the chapter’s material that today’s managers could face.
  • MORE INTERNATIONAL COVERAGE EMPHASIZES BUSINESS ISSUES IN CHINA, INDIA, AND THE GLOBAL MARKETPLACE: This edition integrates international issues throughout, illustrating how they relate to managerial efficiency and shareholder wealth maximization. Additionally, intriguing “International Perspectives” illustrate how students can apply chapter concepts to problems facing today’s managers in an increasingly global climate. Readers gain a better understanding of the international impact of economics.
  • AUTHORS OFFER DIVERSE APPROACHES TO KEY ANALYTICAL CONCEPTS: This edition presents key analytical concepts in several different ways -- including tabular analysis, graphical analysis, spreadsheet, and algebraic analysis -- making difficult material more accessible. Your students are able to learn in the format with which they are most comfortable. When elementary differential calculus is used, at least one alternative mode of analysis also is presented. The book also offers a strong finance emphasis.

Managerial Economics: Applications, Strategies and Tactics

TABLE OF CONTENTS

Preface.
About the Authors.
PART I: INTRODUCTION.
1. Introduction and Goals of the Firm.
2. Fundamental Economic Concepts.
PART II: DEMAND AND FORECASTING.
3. Demand Analysis.
4. Estimating Demand.
5. Business and Economic Forecasting.
6. Managing in the Global Economy.
PART III: PRODUCTION AND COST.
7. Production Economics.
7B. Production Economics of Renewable and Exhaustible Natural Resources.
8. Cost Analysis.
9. Applications of Cost Theory.
PART IV: PRICING AND OUTPUT DECISIONS: STRATEGY AND TACTICS.
10. Prices, Output, and Strategy: Pure and Monopolistic Competition.
11. Price and Output Determination: Monopoly and Dominant Firms.
12. Price and Output Determination: Oligopoly.
13. Best-Practice Tactics: Game Theory.
13A. Entry Deterrence and Accommodation Games.
14. Pricing Techniques and Analysis.
PART V: ORGANIZATIONAL ARCHITECTURE AND REGULATION.
15. Contracting, Governance, and Organizational Form.
15A. Auction Design and Information Economics.
16. Government Regulation.
17. Long-Term Investment Analysis.
Appendices.
A. The Time Value of Money.
B. Tables.
C. Differential Calculus Techniques in Management .
D. Check Answers to Selected End-of-Chapter Exercises.
Glossary.
Index.
Notes.
Web Appendices.

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