Microeconomics for MBAs The economic Way of thinking for managers 1st Edition by Richard McKenzie, Dwight Lee ISBN 0521859816 9780521859813

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Product details:
ISBN 10: 0521859816
ISBN 13: 9780521859813
Author: Richard McKenzie, Dwight Lee

Microeconomics for MBAs The economic Way of thinking for managers 1st Edition Table of contents:

Chapter 1: Introduction to Microeconomics and the Economic Way of Thinking

• The Role of Economics in Business Decision Making
• The Economic Way of Thinking
• Opportunity Costs and Trade-Offs
• Marginal Analysis in Decision Making

Chapter 2: Thinking Like an Economist: Tools and Concepts

• Rational Decision Making
• Costs and Benefits Analysis
• The Role of Assumptions in Economic Models
• Applying Economic Concepts to Managerial Decisions

Chapter 3: Supply and Demand: The Basics of Market Equilibrium

• The Law of Demand and Law of Supply
• Market Equilibrium and Price Determination
• Shifts in Supply and Demand Curves
• Government Intervention: Price Controls and Taxes

Chapter 4: Elasticity: Measuring Responsiveness to Change

• Price Elasticity of Demand
• Cross-Price and Income Elasticity
• Elasticity of Supply
• Applications of Elasticity in Managerial Decision Making

Chapter 5: The Theory of Consumer Behavior

• Utility and Consumer Preferences
• Budget Constraints
• Consumer Choice and Utility Maximization
• The Impact of Price Changes on Consumer Choices

Chapter 6: The Theory of the Firm: Production and Costs

• Factors of Production and the Production Function
• Short-Run and Long-Run Costs
• Economies and Diseconomies of Scale
• Cost Structures and Managerial Implications

Chapter 7: Perfect Competition and Profit Maximization

• Characteristics of Perfect Competition
• The Profit Maximization Condition
• Long-Run Equilibrium in Perfect Competition
• Efficiency and Consumer Surplus

Chapter 8: Monopoly and Market Power

• The Characteristics of a Monopoly
• Pricing and Output Decisions of a Monopoly
• The Welfare Costs of Monopoly
• Antitrust Policies and Their Implications

Chapter 9: Monopolistic Competition and Oligopoly

• Monopolistic Competition: Differentiated Products and Pricing
• Oligopoly: Market Power and Strategic Interdependence
• Game Theory and Oligopoly Pricing Strategies
• Price Leadership and Collusion

Chapter 10: Factor Markets: Labor, Capital, and Land

• The Market for Labor and Wage Determination
• Capital Markets and Interest Rates
• The Role of Land and Natural Resources
• Managerial Decisions in Factor Markets

Chapter 11: Pricing Strategies: Applying Microeconomic Principles

• Price Discrimination and Its Applications
• Pricing Strategies for Differentiated Products
• Price Skimming vs. Penetration Pricing
• Dynamic Pricing and the Role of Information

Chapter 12: Government and the Economy

• The Role of Government in the Economy
• Taxes, Subsidies, and Market Efficiency
• Externalities and Public Goods
• Regulation and Market Outcomes

Chapter 13: International Trade and Global Markets

• Comparative Advantage and Specialization
• Trade Barriers and Tariffs
• The Impact of Trade on Domestic Markets
• Global Competition and Strategic Responses

Chapter 14: Managerial Decision Making: The Economic Way of Thinking in Practice

• Applying Economic Principles to Managerial Problems
• Risk and Uncertainty in Decision Making
• Strategic Decision Making and Economic Models
• Real-World Applications in Business

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