Managerial Economics: Principles and Worldwide Applications

Reflecting the highly globalized nature of tastes, production, labor markets, and financial markets in today's world, Managerial Economics in a Global Economy, Seventh Edition, is ideal for undergraduate and MBA courses in managerial economics. Thoroughly adopting a global perspective, it synthesizes economic theory, decision science, and business administration studies, examining how they interact as a firm strives to reach optimal profitability and efficiency in the face of modern constraints. FEATURES: * Integrates examples, data, and theories on the international ramifications of managerial decisions into the entire text, rather than segregating the material in a separate chapter* Demonstrates how firms actually reach managerial decisions with 122 real-world case studies and 11 more extensive integrating studies, along with additional case studies and applications on the Companion Website* Prominently features those tools of decision making, such as spreadsheet applications, that are so in demand by students* Introduces many new and exciting topics, including firm architecture, firm governance, and business ethics; Porter's strategic framework and the evolution of the creative firm; electronic commerce and risk management; and more* Offers instructors maximum flexibility with a modular structure that is suitable for both full-term and briefer courses, and can be used with or without calculus NEW TO THIS EDITION: * Extensive revisions to every chapter that consider the consequences and lessons of the 2008 global financial crisis* A new Chapter 2: Demand, Supply, and Equilibrium Analysis, to refresh students on relevant principles of economic analysis* Expanded coverage of spreadsheets and Microsoft Excel, including new appendices and spreadsheet-based problems in every chapter* Nearly 80 new or completely updated case studies and 5 new integrating case studies* An updated and expanded Companion Website at featuring student resources: an online study guide, an extra chapter on linear programming, and additional case studies* An extensive instructor ancillary package, including online resources, making this text the perfect choice for lecture-based, online, or hybrid managerial economics courses