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Managerial Economics : A Strategic Approach

By: David Prentice (Author) , Robert Waschik (Author) , Tim Fisher (Author)

Manufacture on Demand

Ksh 19,000.00

Format: Paperback or Softback

ISBN-10: 0415495172

ISBN-13: 9780415495172

Publisher: Taylor & Francis Ltd

Imprint: Routledge

Country of Manufacture: GB

Country of Publication: GB

Publication Date: Mar 22nd, 2010

Publication Status: Active

Product extent: 400 Pages

Weight: 646.00 grams

Dimensions (height x width x thickness): 24.40 x 17.50 x 2.20 cms

Product Classification / Subject(s): Microeconomics
Game theory

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  • Description

  • Reviews

This second edition of a successful textbook builds on the solid grounding of the previous edition and its introduction of the key pillars of game theory into managerial decision-making. Taking an international perspective, the book reflects cutting edge developments in economics such as behavioural economics and auction theory and shows how these can be applied in the workplace.

Traditional microeconomic theory has much to offer a manager. It suggests ways to increase profits by setting prices and packaging services, using advertising to increase demand and shows how internet auction sites like eBay affect competition and profitability. By using game theory to present and solve a manager’s decision-making problems and by focusing on the strategic nature of these problems, this text makes microeconomic theory much more intuitive and relevant for the business student.

The text is separated into four sections:

  • basic microeconomic theory of the firm and the basic tools of game theory
  • problems related to the strategic interaction between firms, including price and quantity competition and product differentiation
  • issues arising from strategic interactions within the firm, including vertical and horizontal integration, training and motivating workers, and labour unions
  • marketing economics including information problems, advertising, durable goods and the product life cycle.

This book will be suitable for any student with a background of introductory economics. The authors include a variety of international examples and case studies from the business world to expand and illustrate key concepts, and provide end-of-chapter exercises to test students’ grasp of the material. An online supplement comprising of problems and solutions as well as PowerPoint slides is available for lecturers.


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