Higher Education

Managerial Economics, 4th Edition

  • Luke M. Froeb Vanderbilt University
  • Brian T. McCann Vanderbilt University
  • Michael R. Ward University of Texas, Arlington
  • Mike Shor University of Connecticut
  • ISBN-10: 1305259335  |  ISBN-13: 9781305259331
  • 352 Pages
  • Previous Editions: 2014, 2010, 2008
  • © 2016 | Published
  • College Bookstore Wholesale Price = $191.50

SAVINGS: MindTap Digital-Only Price Starting at $126.00

Contains the full textbook.

Ask your Learning Consultant for more details 
  *Why an online review copy?
  • It's the greener, leaner way to review! An online copy cuts down on paper and on time. Reduce the wait (and the weight) of printed texts. Your online copy arrives instantly, and you can review it anytime from your computer or favorite mobile device.

If you prefer a print copy to review, please contact your representative.

Online Options

Online Product Overviews

About

Overview

Teach your MBA students how to use economics most effectively to solve today's business problems with this breakthrough text. Froeb/McCann/Ward/Shor's MANAGERIAL ECONOMICS, 4E 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 help students determine 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. New end-of-chapter videos, video lectures, and interactive chapter exercises through the online MindTap® personalize learning resource, ensure your students are consistently engaged and learning. The lively, practical book provides an excellent ongoing reference for future professionals pursuing business careers.

Features and Benefits

  • Proven, MBA-Level Presentation Emphasizes Problem-Solving: Written specifically for your MBA-level managerial economics class, this book's solid approach 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 with 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 Into Roles of Decision Makers: 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 ten 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 managerial 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. Succinct lessons present relevant theory in an accessible way, while learning features enable students to clearly understand theory and immediately apply it.

Table of Contents

SECTION I: PROBLEM SOLVING AND DECISION MAKING.
1. Introduction: What This Book Is About.
2., The One Lessor of Business.
3. Benefits, Costs, and Decisions.
4. Extent (How Much) Decisions.
5. Investment Decisions: Look Ahead and Reason Back.
SECTION 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.
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.
16. Bargaining.
SECTION V: UNCERTAINTY.
17. Making Decisions with Uncertainty.
18. Auctions.
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 Interest.
22. Getting Divisions to Work in the Firm's Best Interest.
23. Managing Vertical Relationships.
SECTION VII: WRAPPING UP.
24. You Be the Consultant.

What's New

  • Online Mindtap® Economics Empowers Students To Produce Their Best Work Consistently: By seamlessly integrating course material with videos, activities, apps, and much more, MindTap® Economics for MANAGERIAL ECONOMICS, 4E creates a unique learning path that fosters increased comprehension and efficiency.
  • Step-By-Step End-of-Chapter Video Exercises Clarify Complicated Problems and Exercises: These new video problems, available on MindTap®, walk students through every step in the development of complex problems or exercises in the book. These helpful instructional videos serve as invaluable guides for other assignments.
  • New Interactive Homework Provides Immediate Feedback: Now all end-of-chapter multiple-choice questions are interactive on MindTap®. Students can answer all questions and receive real-time feedback on their performances.
  • New Video Lectures Summarizes The Most Compelling Theories In The Book: This series of videos was produced by the textbook's author team and reflects the authors' innovative, real-world teaching style.
  • New Computerized Test Bank Saves You Time: Written by the author team to ensure the highest quality, this edition's test bank provides fresh, revised questions and operates efficiently in a computerized system, Cognero®.

Learning Resource Bundles

Choose the textbook packaged with the resources that best meet your course and student needs. Contact your Learning Consultant for more information.

ePack: Text + MindTap® Economics, 1 term (6 months) Instant Access

ISBN-10: 1305716221  | ISBN-13: 9781305716223

List Price = $267.95  | CengageBrain Price = $267.95  | College Bookstore Wholesale Price = $201.50

This Bundle Includes:

  • Managerial Economics
    List Price = $254.95  | CengageBrain Price = $254.95  | College Bookstore Wholesale Price = $191.50
  • MindTap® Economics, 1 term (6 months) Instant Access for Froeb/McCann/Ward/Shor's Managerial Economics
    List Price = $126.00  | CengageBrain Price = $126.00  | College Bookstore Wholesale Price = $126.00


Bundle: Text + Aplia™, 1 term Printed Access Card for Traditional Economics

ISBN-10:  1305722140  | ISBN-13:  9781305722149

List Price = $267.95  | College Bookstore Wholesale Price = $201.50

This Bundle Includes:

  • Aplia™, 1 term Printed Access Card for Traditional Economics
    List Price = $78.00  | College Bookstore Wholesale Price = $58.50
  • Managerial Economics
    List Price = $254.95  | CengageBrain Price = $254.95  | College Bookstore Wholesale Price = $191.50


ePack: Text + Aplia no eBook, 1 term Instant Access for Traditional Economics

ISBN-10:  1305722159  | ISBN-13:  9781305722156

List Price = $267.95  | CengageBrain Price = $267.95  | College Bookstore Wholesale Price = $201.50

This Bundle Includes:

  • Aplia™ (No eBook), 1 term Instant Access for Traditional Economics
    List Price = $78.00  | CengageBrain Price = $78.00  | College Bookstore Wholesale Price = $78.00
  • Managerial Economics
    List Price = $254.95  | CengageBrain Price = $254.95  | College Bookstore Wholesale Price = $191.50


Bundle: Text + MindTap® Economics, 1 term (6 months) Printed Access Card

ISBN-10:  1305618572  | ISBN-13:  9781305618572

List Price = $267.95  | College Bookstore Wholesale Price = $201.50

This Bundle Includes:

  • Managerial Economics
    List Price = $254.95  | CengageBrain Price = $254.95  | College Bookstore Wholesale Price = $191.50
  • MindTap® Economics, 1 term (6 months) Printed Access Card
    List Price = $126.00  | College Bookstore Wholesale Price = $94.50


ePack: Text + LMS Integrated for MindTap® Economics, 1 term (6 months) Instant Access

ISBN-10:  1337080519 | ISBN-13:  9781337080514

List Price = $267.95  | CengageBrain Price = $267.95  | College Bookstore Wholesale Price = $201.50

This Bundle Includes:

  • Managerial Economics
    List Price = $254.95  | CengageBrain Price = $254.95  | College Bookstore Wholesale Price = $191.50
  • LMS Integrated for MindTap® Economics, 1 term (6 months) Instant Access for Froeb/McCann/Ward/Shor's Managerial Economics
    List Price = $126.00  | CengageBrain Price = $126.00  | College Bookstore Wholesale Price = $126.00


Supplements

All supplements have been updated in coordination with the main title. Select the main title's "About" tab, then select "What's New" for updates specific to title's edition.

For more information about these supplements, or to obtain them, contact your Learning Consultant.

Instructor Supplements

Instructor's Companion Website  (ISBN-10: 1305261011 | ISBN-13: 9781305261013)

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  (ISBN-10: 1305260600 | ISBN-13: 9781305260603)

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.

MindTap® Economics, 1 term (6 months) Instant Access for Froeb/McCann/Ward/Shor's Managerial Economics  (ISBN-10: 1305260562 | ISBN-13: 9781305260566)

MindTap Economics for Froeb/McCann/Ward/Shor's Managerial Economics, 4E is a personalized teaching experience with relevant assignments that guide students to analyze, apply, and improve thinking, allowing you to measure skills and outcomes with ease.

List Price = $126.00  | CengageBrain Price = $126.00  | College Bookstore Wholesale Price = $126.00

LMS Integrated for MindTap® Economics, 1 term (6 months) Instant Access for Froeb/McCann/Ward/Shor's Managerial Economics  (ISBN-10: 1305260686 | ISBN-13: 9781305260689)

Cengage Learning provides Learning Management System (LMS) integration with our MindLinks service. This service is designed to deliver an optimal user experience through the learning management system (LMS) already used by the institution--facilitating learning retention and contributing to better learner outcomes. Our collaboration with LMS industry leaders helps drive advanced features like gradebook integration, while the fluid pedagogical design contributes to more teachable moments.

List Price = $126.00  | CengageBrain Price = $126.00  | College Bookstore Wholesale Price = $126.00

Student Supplements

MindTap® Economics, 1 term (6 months) Instant Access for Froeb/McCann/Ward/Shor's Managerial Economics  (ISBN-10: 1305260562 | ISBN-13: 9781305260566)

MindTap™ Economics for Froeb/McCann/Ward/Shor's Managerial Economics, 4th Edition provides you with the tools you need to better manage your limited time -- you can complete assignments whenever and wherever you are ready to learn with course material specially customized for you by your instructor and streamlined in one proven, easy-to-use interface. With an array of resources, tools, and apps -- including lecture summary videos, interactive homework, flashcards, and note taking -- you'll get a true understanding of course concepts, helping you to achieve better grades and setting the groundwork for your future courses. Access to this product is valid for 6 months of usage.

List Price = $126.00  | CengageBrain Price = $126.00  | College Bookstore Wholesale Price = $126.00

LMS Integrated for MindTap® Economics, 1 term (6 months) Instant Access for Froeb/McCann/Ward/Shor's Managerial Economics  (ISBN-10: 1305260686 | ISBN-13: 9781305260689)

This access code will provide you with seamless access to your MindTap™ Economics resources from within your campus Learning Management System. You will be prompted to enter this access code the first time that you click on a link in your course that includes Cengage content.

List Price = $126.00  | CengageBrain Price = $126.00  | College Bookstore Wholesale Price = $126.00

Meet the Author

Author Bio

Luke M. Froeb

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.

Brian T. McCann

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.

Michael R. Ward

Dr. Mike Ward has taught courses in Managerial Economics, Industrial Organization and Business Strategy, Human Resource Economics, and Economics and Regulation of Information. He has spent nearly two decades in academia, holding positions at the University of Illinois and the University of Texas at Arlington where he is currently Professor of Economics in the Business School. Prior to returning to academia, Professor Ward served as an Economist at the Federal Trade Commission for four years attempting to tear down barriers to competition (though he was not managed by Professor Froeb). Dr. Ward's research focuses on the economics of innovation and competition. He earned his undergraduate degree in mathematics and economics from UCLA and his Ph.D. in economics from the University of Chicago.

Mike Shor

Dr. Mike Shor has taught courses in game theory, pricing, law and economics, industrial organization, and behavioral economics. He is currently at the Department of Economics at the University of Connecticut. Prior to UConn, Professor Shor taught at the business school at Vanderbilt University, where he was twice elected the best professor by the graduating MBA class. Dr. Shor earned his undergraduate degree in foreign affairs and economics from the University of Virginia, and his Ph.D. in economics from Rutgers University. Professor Shor's research is focused on industrial organization and behavioral economics. His interdisciplinary research has appeared in journals in accounting, marketing, information systems, and psychology, as well as economics.