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Managerial economics and business strategy 10th ed
Thanks to feedback from users around the world, Managerial Economics and Business Strategy remains the best-selling managerial text in the market. We are grateful to all of you for allowing us to provide this updated and improved edition. Before highlighting some of the new features of the tenth edition, we would like to stress that the fundamental goal of the book—providing students with the tools from intermediate microeconomics, game theory, and industrial organization that they need to make sound managerial decisions—has not changed. What has changed are the examples used to make managerial economics come to life for this generation of students, a stronger integration with data-based decision-making, and an enriched utilization of new technologies (such as Connect) for enhancing the teaching and learning experiences of instructors and their students.
This book begins by teaching managers the practical utility of basic economic tools such as present value analysis, supply and demand, regression, indifference curves, isoquants, production, costs, and the basic models of perfect competition, monopoly, and monopolistic competition. Adopters and reviewers also praise the book for its real-world examples and because it includes modern topics not contained in any other single managerial economics textbook: oligopoly, penetration pricing, multistage and repeated games, foreclosure, contracting, vertical and horizontal integration, networks, bargaining, predatory pricing, principal–agent problems, raising rivals’ costs, adverse selection, auctions, screening and signaling, search, limit pricing, and a host of other pricing strategies for firms enjoying market power. This balanced coverage of traditional and modern microeconomic tools makes it appropriate for a wide variety of managerial economics classrooms. An increasing number of business schools are adopting this book to replace (or use alongside) managerial strategy texts laden with anecdotes but lacking the microeconomic tools needed to identify and implement the business strategies that are optimal in a given situation.
This tenth edition of Managerial Economics and Business Strategy has been revised to include updated examples and problems, but it retains all of the basic content that made previous editions a success. The basic structure of the textbook is largely unchanged to ensure a smooth transition to this edition.
KEY PEDAGOGICAL FEATURES
The tenth edition retains all of the class-tested features of previous editions that enhance students’ learning experiences and make it easy to teach from this book.
Headlines1
As in previous editions, each chapter begins with a Headline that is based on a real-world economic problem—a problem that students should be able to address after completing the chapter. These Headlines are essentially hand-picked “mini-cases” designed to motivatePage viii students to learn the material in the chapter. Each Headline is answered at the end of the relevant chapter—when the student is better prepared to deal with the complications of real-world problems. Reviewers, as well as users, of previous editions praise the Headlines not only because they motivate students to learn the material in the chapter, but also because the answers at the end of each chapter help students learn how to use economics to make business decisions.
Learning Objectives1
Each chapter includes learning objectives designed to enhance the learning experience. End-of-chapter problems are denoted with the learning objective(s) to which they relate.
Demonstration Problems1
The best way to learn economics is to practice solving economic problems. Every chapter contains Demonstration Problems that provide students with detailed answers to help them verify that they have mastered the material. Select Demonstration Problems also offer a video walk-through of the problem, explaining the steps along the way. Students can click the link in their ebook or key in the URL provided to access the videos and solutions. Videos and solutions are also provided in the Connect Library, under Instructor Resource for instructors. The goal is in providing this additional guidance is to minimize time spent with students and instructors discussing answers to problems, allowing instructors more time to focus on other concepts.
Inside Business Applications
Most chapters offer Inside Business applications boxes to illustrate how theories explained in the text relate to a host of different business situations. As in previous editions, this feature is authored to strike a balance between applications drawn from the current economic literature and the popular press.
Calculus and Non-Calculus Alternatives1
Users can easily include or exclude calculus-based material without losing content or continuity. That’s because the basic principles and formulae needed to solve a particular class of economic problems (e.g., MR = MC) are first stated without appealing to the notation of calculus. Immediately following each stated principle or formula is a clearly marked Calculus Alternative. Each of these calculus alternatives states the preceding principle or formula in calculus notation and explains the relation between the calculus-based and non-calculus-based formulas. More detailed calculus derivations are relegated to chapter Appendices. Thus, the book is designed for use by instructors who want to integrate calculus into managerial economics and by those who do not require students to use calculus.
Variety of End-of-Chapter Problems1
Three types of problems are offered. Highly structured but nonetheless challenging Conceptual and Computational Questions stress fundamentals. These are followed by Problems and Applications, which are far less structured and, like real-world decision environments, may contain more information than is actually needed to solve the problem. Many of these applied problems are based on actual business events.
Additionally, the new Spectrum case that follows Module Group B includes 13 problems called Memos that have a “real-world feel” and complement the text. All of these case-based problems may be assigned on a chapter-by-chapter basis as specific skills are introduced, or as part of a capstone experience.
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Detailed answers to all problems can be found among the instructor resource material available via Connect.
Case Study1
A case study in business strategy, Spectrum—the Spawn of Time Warner Cable and Charter Communications—Navigates Challenges from Cord Cutting and Mobile Competition follows Module Group B and was prepared especially for this text. It can be used either as a capstone case for the course or to supplement individual chapters. The case allows students to apply core elements from managerial economics to a remarkably rich business environment. Instructors can use the case as the basis for an “open-ended” discussion of business strategy, or they can assign specific “memos” (contained at the end of the case) that require students to apply specific tools from managerial economics to the case. Teaching notes, as well as solutions to all of the memos, are provided among the instructor resource material available via Connect.
Flexibility1
Instructors of managerial economics have genuinely heterogeneous textbook needs. Reviewers and users continue to praise the book for its flexibility, and they assure us that sections or even entire chapters can be excluded without losing continuity. For instance, an instructor wishing to stress microeconomic fundamentals might choose to cover Chapters 2, 3, 4, 5, 8, 9, 10, 11, and 12. An instructor teaching a more applied course that stresses business strategy might choose to cover Chapters 1, 2, 3, 5, 6, 7, 8, 10, 11, and some or all of Module Group A. Each may choose to include additional content (for example, some or all of Module Group B or the Time Warner Cable case) as time permits. More generally, instructors can easily omit topics such as present value analysis, regression, indifference curves, isoquants, or reaction functions without losing continuity.
CHANGES IN THE TENTH EDITION
We have made every effort to update and improve Managerial Economics and Business Strategy while assuring a smooth transition to the tenth edition. Following is a summary of the pedagogical improvements, enhanced supplements, and content changes that make the tenth edition an even more powerful tool for teaching and learning managerial economics and business strategy.
New and updated mini-cases on topics such as: Google Search, Netflix Pricing, and a range of mergers.
New and updated end-of-chapter problems.
New and updated Headlines.
New and updated Inside Business applications.
New Excel Exercises in Connect. As denoted in the text with an Excel icon, this edition offers students the ability to get more hands-on practice using Excel.
Content from Chapters 13 and 14 in the previous edition are now placed in stand-alone modules that permit instructors to easily pick-and-choose topics to include along with their conventional materials.
Spectrum—the Spawn of Time Warner Cable and Charter Communications—Navigates Challenges from Cord Cutting and Mobile Competition replaces the old Time Warner Cable Case.
Excel Exercises
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Chapter-by-Chapter Changes1
Chapter 1 contains a new section discussing how managers make data-driven decisions, setting the stage to incorporate the use of data to solve managerial problems throughout the remainder of the text. It also contains new and updated examples and two new end-of-chapter problems centered on the use of data analysis for managerial decision-making.
Chapter 2 contains two updated and one new Inside Business applications. The new application discusses globalization and the supply of automobiles from China.
Chapter 3 contains updated examples and several new elasticity tables. It also contains a new Inside Business about strategy in digital markets. In addition, it has a new section about data-driven demand curves and another new Inside Business application about the use of data to estimate demand for gamers.
Chapter 4 contains an updated Inside Business application and updated end-of- chapter problems.
Chapter 5 contains a new Inside Business application on artificial intelligence and cost minimization. It also includes new sections on data-driven production and cost functions, and there are two new end-of-chapter problems based on these new sections.
Chapter 6 offers a new Headline on vertical integration, two updated Inside Business applications, and a new Inside Business application on outsourcing.
Chapter 7 contains a new Headline on the Sprint/T-Mobile merger along with updated examples and industry data. It also provides a new Inside Business application on demand elasticities and a new end-of-chapter problem.
Chapter 8 contains an updated Headline and two new end-of-chapter problems.
Chapter 9 contains an updated Inside Business applications and two new end-of-chapter problems focused on data-driven decision-making.
Chapter 10 contains a new Inside Business application examining Canadian gasoline markets, as well as an updated Inside Business application and Demonstration Problem. It also contains a new end-of-chapter problem on competition between Google and Amazon in the smart home market.
Chapter 11 contains a new Inside Business application on bundling telecommunications services to reduce churn. It also includes an updated Headline and Inside Business application, as well as two new end-of-chapter problems on data-driven decision-making.
Chapter 12 contains an updated Inside Business application.
Module Group A (formerly Chapter 13) has been transformed into four self-contained, concise and easy-to-navigate modules on entry prevention, lessening competition, restructuring game timing, and overcoming network effects.
Module Group B (formerly Chapter 14) has been transformed into three self-contained, concise and easy-to-navigate modules on regulatory constraint on market power; regulation of markets with externalities, public goods, or incomplete information; and government policy and international markets.
Remote Proctoring & Browser-Locking Capabilities
New remote proctoring and browser-locking capabilities, hosted by Proctorio within Connect, provide control of the assessment environment by enabling security options and verifying the identity of the student.
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Seamlessly integrated within Connect, these services allow instructors to control students’ assessment experience by restricting browser activity, recording students’ activity, and verifying students are doing their own work.
Instant and detailed reporting gives instructors an at-a-glance view of potential academic integrity concerns, thereby avoiding personal bias and supporting evidence-based claims.
Ketersediaan
| Call Number | Location | Available |
|---|---|---|
| 658. 009 2 BAY m | PSB lt.1 - B. Wajib | 1 |
| Penerbit | New York Mc Graw Hill., 2022 |
|---|---|
| Edisi | 10 |
| Subjek | Economics |
| ISBN/ISSN | 9781266071010 |
| Klasifikasi | 658. 009 2 |
| Deskripsi Fisik | 280 p. : ill. ; 28 cm. |
| Info Detail Spesifik | - |
| Other Version/Related | Tidak tersedia versi lain |
| Lampiran Berkas |
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