Managerial economics: foundations of business analysis and strategy, 12th. ed.
Over the past 40 years, the growing influence of microeconomics and industrial organization economics in every field of business analysis has transformed the role of managerial economics in business school curricula. Economists have understood for some time that every modern course in business...
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| Format: | Book |
| Language: | English |
| Published: |
McGraw-Hill Education
2020
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| Subjects: | |
| Online Access: | http://dspace.uniten.edu.my/jspui/handle/123456789/15326 |
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| Summary: | Over the past 40 years, the growing influence of
microeconomics and industrial organization economics
in every field of business analysis has transformed
the role of managerial economics in business school
curricula. Economists have understood for some time
that every modern course in business strategy and organizational
architecture must draw from key areas
of advancement in microeconomics and industrial organization.
While many business schools have been
quick to adopt “strategy” as a fundamental theme
in their curricula, this new emphasis on strategy too
often falls on the shoulders of a single, one-semester
course in business strategy. In a single course, it is
extremely difficult, if not impossible, to teach business
students managerial economics and cover all of
the valuable topics in business strategy and organization.
In any case, a thorough foundation in managerial
economics is required in order to understand how
to use the many new and important developments in
microeconomics and industrial organization.
The objective of Managerial Economics, then, is
to teach and apply the foundation topics in microeconomics
and industrial organization essential for
making both the day-to-day business decisions that
maximize profit as well as the strategic decisions
designed to create and protect profit in the long run.
In so doing, we believe Managerial Economics helps
business students become architects of business tactics
and strategy instead of middle managers who
plod along the beaten path of others. |
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