Managerial Economics 4th Edition by Luke Froeb, Brian McCann – Ebook PDF Instant Download/Delivery: 1305259335, 9781305259331
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ISBN 10: 1305259335
ISBN 13: 9781305259331
Author: Luke Froeb, Brian McCann
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. The lively, practical book provides an excellent ongoing reference for future professionals pursuing business careers.
Managerial Economics 4th Table of contents:
Section 1. Problem Solving and Decision Making
Chapter 1. Introduction: What This Book Is About
1.1. Using Economics to Solve Problems
1.2. Problem-Solving Principles
1.3. Test Yourself
1.4. Ethics and Economics
1.5. Economics in Job Interviews
- Summary of Main Points
- Multiple-Choice Questions
- Individual Problems
- Group Problems
Chapter 2. The One Lesson of Business
2.1. Capitalism and Wealth
2.2. Does the Government Create Wealth?
2.3. Why Economics Is Useful to Business
- Taxes
- Subsidies
- Price Controls
2.4. Wealth Creation in Organizations - Summary of Main Points
- Multiple-Choice Questions
- Individual Problems
- Group Problems
Chapter 3. Benefits, Costs, and Decisions
3.1. Background: Variable, Fixed, and Total Costs
3.2. Background: Accounting versus Economic Profit
3.3. Costs Are What You Give Up
3.4. Sunk-Cost Fallacy
3.5. Hidden-Cost Fallacy
3.6. A Final Warning
- Summary of Main Points
- Multiple-Choice Questions
- Individual Problems
- Group Problems
Chapter 4. Extent (How Much) Decisions
4.1. Background: Average and Marginal Costs
4.2. Marginal Analysis
4.3. Incentive Pay
4.4. Tie Pay to Performance Measures That Reflect Effort
4.5. Is Incentive Pay Unfair?
- Summary of Main Points
- Multiple-Choice Questions
- Individual Problems
- Group Problems
Chapter 5. Investment Decisions: Look Ahead and Reason Back
5.1. Compounding and Discounting
5.2. How to Determine Whether Investments Are Profitable
5.3. Break-Even Analysis
5.4. Choosing the Right Manufacturing Technology
5.5. Shut-Down Decisions and Break-Even Prices
5.6. Sunk Costs and Post-Investment Hold-Up
5.7. Anticipate Hold-Up
- Summary of Main Points
- Multiple-Choice Questions
- Individual Problems
- Group Problems
Section 2. Pricing, Costs, and Profits
Chapter 6. Simple Pricing
6.1. Background: Consumer Values and Demand Curves
6.2. Marginal Analysis of Pricing
6.3. Price Elasticity and Marginal Revenue
6.4. What Makes Demand More Elastic?
6.5. Forecasting Demand Using Elasticity
6.6. Stay-Even Analysis, Pricing, and Elasticity
6.7. Cost-Based Pricing
- Summary of Main Points
- Multiple-Choice Questions
- Individual Problems
- Group Problems
Chapter 7. Economies of Scale and Scope
7.1. Increasing Marginal Cost
7.2. Economies of Scale
7.3. Learning Curves
7.4. Economies of Scope
7.5. Diseconomies of Scope
- Summary of Main Points
- Multiple-Choice Questions
- Individual Problems
- Group Problems
Chapter 8. Understanding Markets and Industry Changes
8.1. Which Industry or Market?
8.2. Shifts in Demand
8.3. Shifts in Supply
8.4. Market Equilibrium
8.5. Predicting Industry Changes Using Supply and Demand
8.6. Explaining Industry Changes Using Supply and Demand
8.7. Prices Convey Valuable Information
8.8. Market Making
- Summary of Main Points
- Multiple-Choice Questions
- Individual Problems
- Group Problem
Chapter 9. Market Structure and Long-Run Equilibrium
9.1. Competitive Industries
9.2. The Indifference Principle
9.3. Monopoly
- Summary of Main Points
- Multiple-Choice Questions
- Individual Problems
- Group Problem
Chapter 10. Strategy: The Quest to Keep Profit from Eroding
10.1. A Simple View of Strategy
10.2. Sources of Economic Profit
- The Industry (External) View
- The Resource (Internal) View
10.3. The Three Basic Strategies - Summary of Main Points
- Multiple-Choice Questions
- Individual Problems
- Group Problems
Chapter 11. Foreign Exchange, Trade, and Bubbles
11.1. The Market for Foreign Exchange
11.2. The Effects of a Currency Devaluation
11.3. Bubbles
11.4. How Can We Recognize Bubbles?
11.5. Purchasing Power Parity
- Summary of Main Points
- Multiple-Choice Questions
- Individual Problems
- Group Problems
Section 3. Pricing for Greater Profit
Chapter 12. More Realistic and Complex Pricing
12.1. Pricing Commonly Owned Products
- Commonly Owned Substitutes
- Commonly Owned Complements
12.2. Revenue or Yield Management
12.3. Advertising and Promotional Pricing
12.4. Psychological Pricing - Summary of Main Points
- Multiple-Choice Questions
- Individual Problems
- Group Problems
Chapter 13. Direct Price Discrimination
13.1. Introduction
- Pricing Laptops
- Pricing Museum Entry
- Why (Price) Discriminate?
13.2. Direct Price Discrimination
13.3. Robinson-Patman Act
13.4. Implementing Price Discrimination Schemes - Pricing for Laptops
- Pricing for Museums
13.5. Only Schmucks Pay Retail - Summary of Main Points
- Multiple-Choice Questions
- Individual Problems
- Group Problems
Chapter 14. Indirect Price Discrimination
14.1. Introduction
- Express Lanes
- Airline Travel
14.2. Indirect Price Discrimination - HP Printers
14.3. Volume Discounts as Discrimination
14.4. Bundling Different Goods Together - Summary of Main Points
- Multiple-Choice Questions
- Individual Problems
- Group Problems
Section 4. Strategic Decision Making
Chapter 15. Strategic Games
15.1. Sequential-Move Games
15.2. Simultaneous-Move Games
- How to Find Nash Equilibria
- Prisoners’ Dilemma
- Price Discrimination Dilemma
- Advertising Dilemma
- Free-Riding Dilemma
15.3. What Can I Learn from Studying Games Like the Prisoners’ Dilemma? - Change the Payoff Structure of the Game
- How Best to Get Out of a Repeated Prisoners’ Dilemma
15.4. Other Games - Game of Chicken
- Dating Game
- Shirking/Monitoring Game
- Summary of Main Points
- Multiple-Choice Questions
- Individual Problems
- Group Problem
Chapter 16. Bargaining
16.1. Strategic View of Bargaining
16.2. Nonstrategic View of Bargaining
16.3. Conclusion
- Summary of Main Points
- Multiple-Choice Questions
- Individual Problems
- Group Problem
Section 5. Uncertainty
Chapter 17. Making Decisions with Uncertainty
17.1. Random Variables and Probability
17.2. Uncertainty in Pricing
- Price Discrimination
17.3. Run Experiments to Reduce Uncertainty
17.4. Minimizing Expected Error Costs
17.5. Risk versus Uncertainty - Summary of Main Points
- Multiple-Choice Questions
- Individual Problems
- Group Problem
Chapter 18. Auctions
18.1. Oral Auctions
18.2. Second-Price Auctions
18.3. First-Price Auctions
18.4. Bid Rigging
18.5. Common-Value Auctions
- Summary of Main Points
- Multiple-Choice Questions
- Individual Problems
- Group Problem
Chapter 19. The Problem of Adverse Selection
19.1. Insurance and Risk
19.2. Anticipating Adverse Selection
19.3. Screening
19.4. Signaling
19.5. Adverse Selection and Internet Sales
- Summary of Main Points
- Multiple-Choice Questions
- Individual Problems
- Group Problem
Chapter 20. The Problem of Moral Hazard
20.1. Introduction
- FCC Financing
- Progressive Snapshot
20.2. Insurance
20.3. Moral Hazard versus Adverse Selection
20.4. Shirking
20.5. Moral Hazard in Lending
20.6. Moral Hazard and the 2008 Financial Crisis - Summary of Main Points
- Multiple-Choice Questions
- Individual Problems
- Group Problem
Section 6. Organizational Design
Chapter 21. Getting Employees to Work in the Firm’s Best Interests
21.1. Principal-Agent Relationships
21.2. Controlling Incentive Conflict
21.3. Marketing versus Sales
21.4. Franchising
21.5. A Framework for Diagnosing and Solving Problems
- Summary of Main Points
- Multiple-Choice Questions
- Individual Problems
- Group Problems
Chapter 22. Getting Divisions to Work in the Firm’s Best Interests
22.1. Incentive Conflict between Divisions
22.2. Transfer Pricing
22.3. Organizational Alternatives
22.4. Budget Games: Paying People to Lie
- Summary of Main Points
- Multiple-Choice Questions
- Individual Problems
- Group Problems
Chapter 23. Managing Vertical Relationships
23.1. How Vertical Relationships Increase Profit
23.2. Double Marginalization
23.3. Incentive Conflicts between Retailers and Manufacturers
- Quality Control
- Promotional Activities
- “Free Riding” among Retailers
- New Product Introduction
23.4. Price Discrimination - Use Vertical Integration When Contractual Solutions Aren’t Enough
23.5. Antitrust Risks
23.6. Do Not Buy a Customer or Supplier Simply Because It Is Profitable - Summary of Main Points
- Multiple-Choice Questions
- Individual Problems
- Group Problems
Section 7. Wrapping Up
Chapter 24. You Be the Consultant
24.1. Truck Leasing
24.2. Manufacturer Hiring
24.3. American Airlines
24.4. Law Firm Pricing
24.5. Cash Flow at a Forklift Dealership
24.6. Managing Interest-Rate Risk at Banks
24.7. What You Should Have Learned
Epilogue
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Luke Froeb,Brian McCann,Managerial Economics