Managerial Economics – Applications, Strategy and Tactics (9th Edition)

Author: James R. McGuigan
Publisher:
Publish Date: 2005-03-26
Features: Managerial economics studies the allocation of resources, strategic, and tactical decisions made by analysts, managers, and consultants within private, public, and nonprofit sectors of the economy. Various methods of managerial economics strive to achieve organizational goals in the most efficient way while considering explicit and implicit constraints on goal attainment. The organization of the book revolves around two themes: product competition and the maximization of shareholder wealth. The book introduces theories such as corporate goal theory, profit theory, exchange rate and international trade theory, Porter's theory of industrial competition, adverse selection under asymmetric information, principal-agent theory, signaling theory, modern game theory, theories of organizational forms, governance, and optimal design, Coase's property rights theory, and government regulation theory. It provides a comprehensive introduction to traditional business management decision-making issues and seeks to offer new insights from the context of economic globalization. The book also includes additional topics rarely found in other textbooks, such as corporate incentive contract decisions, auction bidding decisions, and decisions related to government regulation. This edition has been extensively revised and updated to reflect the latest developments in fields such as international business, strategic applications of game theory, and organizational economics. It also provides more contemporary case studies to enhance students' learning effectiveness.