Managerial Economics: Markets and the Firm / Edition 2

by William Boyes

Overview

Boyes introduces readers to the power of economics in business decision making. The text s intuitive approach clearly highlights how economics influences marketing, management, and other business-related decisions. In addition to traditional principles of price theory, MANAGERIAL ECONOMICS examines organizational behavior, strategic management, human resource management, and emerging issues such as game theory, TQM, and information economics. MANAGERIAL ECONOMICS departs from convention to illustrate the role of economic intuition in making sound business decisions. While other texts focus on quantitative analysis, this book enphasizes logic and conceptual modeling — reinforced by real-life examples — to highlight the pivotal link between economics and key business concerns such as costs, prices, markets, and personnel. Readers learn to weigh the strategic costs and benefits of each business choice, instead of relying on popular quick-fix solutions. Ideal for MBA programs and less quantitative courses, MANAGERIAL ECONOMICS demonstrates the power of economic insight on business decision making.

Product Details

ISBN-13:	9780618988624
Publisher:	Cengage Learning
Publication date:	01/01/2011
Series:	Upper Level Economics Titles Series
Edition description:	New Edition
Pages:	432
Product dimensions:	3.15(w) x 3.94(h) x 0.39(d)

About the Author

Dr. William Boyes is professor of economics at Arizona State University. He received his Ph.D. in economics from the Claremont Graduate School in 1974. Before joining the Arizona State faculty, he was the Distinguished Visiting Professor of Business at Weber State University; visiting professor at Tsinghua University, Beijing, China and the University of London, London, England, and lectured at ITAM in Mexico City; and was the dean of the College of Business at Cal Poly, San Luis Obispo. Dr. Boyes has also served as chairman of the Economics Department at ASU and has been an economist with Security Pacific National Bank (now Bank of America). He has been a consultant to the White House, the Commerce Department, the Federal Trade Commission, and several private firms. He is the director of the office of economic education at ASU and a member of the Pacific Research Institute's Academic Advisory Board. Dr. Boyes has received many teaching awards, including the Golden Key National Honor Society Outstanding Professor Award at ASU in 1988, the Outstanding Teacher in the MBA Program Award at ASU in 1994, the Outstanding Teacher in the College of Business Award at ASU in 1995, Huizingh Outstanding Honors Professor in 2007, and Outstanding MBA Professor in 2008.

Table of Contents

1. Introduction: Economics and Management. 2. The Power of Markets. 3. The Prime Directive. 4. The Theory of the Firm? 5. Performance. 6. Strategic Formulation of Economic Profit. 7. Demand. 8. Costs. 9. Profit Maximization. 10. Mechanics of Profit Maximization. 11. Revenue Management: Price Strategies. 12. Organization and Corporate Culture. 13. Minimizing Costs: Capital. 14. Personnel and Compensation. 15. The Knowledge Economy. 16. The Grabbing Hand. 17. Internal Markets. 18. Strategy Myths. 19. Strategic Behavior: The Application of Games. 20. Strategy.