Managerial Economics

Author: Yu Yihong / Gao Ruxi (editors)
Publisher:
Publish Date: 2004-05-01
Features: Management Economics is based on economic principles, emphasizing the cultivation of managers' economic intuition and the use of rational thinking to analyze practical business decision-making. The movement of any phenomenon follows certain patterns, and competition in the market economy is no exception. Therefore, grasping these patterns is crucial for businesses to survive and thrive in fierce market competition. The knowledge of Management Economics is an indispensable component of the knowledge structure of modern business managers and serves as a cornerstone of the entire management system. A high-quality manager cannot lack the ability to think economically... Management Economics is based on economic principles, emphasizing the cultivation of managers' economic intuition and the use of rational thinking to analyze practical business decision-making. The movement of any phenomenon follows certain patterns, and competition in the market economy is no exception. Therefore, grasping these patterns is crucial for businesses to survive and thrive in fierce market competition. The knowledge of Management Economics is an indispensable component of the knowledge structure of modern business managers and serves as a cornerstone of the entire management system. A high-quality manager cannot lack the ability to think economically. In line with this spirit, the most important adjustments in this revision are reflected in two aspects. On one hand, we have strengthened the analysis of competition and oligopoly competition strategies in market structure analysis. We have separated the topics in monopolistic competition markets into a dedicated chapter, focusing on product differentiation and advertising strategy formulation. In fact, these two important strategies are also the primary competitive tools in oligopoly markets, but they hold even greater significance for the strategy formulation of firms in monopolistic competition markets. In the analysis of oligopoly markets, we have added the content of the classic Cournot model and Bertrand model. Although these models are based on relatively abstract theoretical assumptions, they fully reveal the fundamental characteristics of oligopoly market competition. Especially when modern economics applies these models using the concept of a two-stage game, they provide even greater inspiration for real-world competition. On the other hand, we have added several new cases in almost every chapter and updated all cases at the end of the book. Case teaching is a major feature of business management education and the best way to integrate economic theory with real-world business operations. Therefore, we have proposed some thought-provoking questions after each case, attempting to deepen students' understanding of economic principles and teach them how to apply these principles in practice. In teaching, it is recommended that instructors use two types of cases differently. For the cases in the middle of each chapter, students can be asked to preview them before class and discuss them directly in class. For the major cases at the end of the book, group discussions are recommended, and each group is required to submit a case analysis report.