ENGLISH

Managerial economics a problem solving approach

By Brian T. McCann; Michael R. Ward; Luke M. Froeb; Mikhael Shor

Book information

Year
2018
ISBN
9781337106665, 1337106666
Language
english
Format
PDF
Filesize
7 MB (7642548 bytes)
Edition
Fifth
Pages
\355
Time added
2020-07-31 02:21:31

Description

Title Page Copyright Page Brief Contents Contents Preface: Teaching Students to Solve Problems Section I: 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 & Homework Problems End Notes Chapter 2: The One Leson of Busines 2.1 Capitalism and Wealth 2.2 Does the Government Create Wealth? 2.3 How Economics Is Useful to Business 2.4 Wealth Creation in Organizations Summary & Homework Problems End Notes 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 & Homework Problems End Notes Chapter 4: Extent (How Much) Decisions 4.1 Fixed Costs Are Irrelevant to an Extent Decision 4.2 Marginal Analysis 4.3 Deciding between Two Alternatives 4.4 Incentive Pay 4.5 Tie Pay to Performance Measures That Reflect Effort 4.6 Is Incentive Pay Unfair? Summary & Homework Problems End Notes 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 Summary & Homework Problems End Notes Section II: 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 & Homework Problems End Notes 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 & Homework Problems End Notes 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 & Homework Problems End Notes Chapter 9: Market Structure and Long-Run Equilibrium 9.1 Competitive Industries 9.2 The Indifference Principle 9.3 Monopoly Summary & Homework Problems End Notes Chapter 10: Strategy: The Quest to Kep Profit from Eroding 10.1 A Simple View of Strategy 10.2 Sources of Economic Profit 10.3 The Three Basic Strategies Summary & Homework Problems End Notes Chapter 11: Foreign Exchange, Trade, and Bubles 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 & Homework Problems End Notes Section III: Pricing for Greater Profit Chapter 12: More Realistic and Complex Pricing 12.1 Pricing Commonly Owned Products 12.2 Revenue or Yield Management 12.3 Advertising and Promotional Pricing 12.4 Psychological Pricing Summary & Homework Problems End Notes Chapter 13: Direct Price Discrimination 13.1 Why (Price) Discriminate? 13.2 Direct Price Discrimination 13.3 Robinson-Patman Act 13.4 Implementing Price Discrimination 13.5 Only Schmucks Pay Retail Summary & Homework Problems End Notes Chapter 14: Indirect Price Discrimination 14.1 Indirect Price Discrimination 14.2 Volume Discounts as Discrimination 14.3 Bundling Different Goods Together Summary & Homework Problems End Notes Section IV: Strategic Decision Making Chapter 15: Strategic Games 15.1 Sequential-Move Games 15.2 Simultaneous-Move Games 15.3 Prisoners’ Dilemma 15.4 Other Games Summary & Homework Problems End Notes Chapter 16: Bargaining 16.1 Strategic View of Bargaining 16.2 Nonstrategic View of Bargaining 16.3 Conclusion Summary & Homework Problems End Note Section V: Uncertainty Chapter 17: Making Decisions with Uncertainty 17.1 Random Variables and Probability 17.2 Uncertainty in Pricing 17.3 Data-Driven Decision Making 17.4 Minimizing Expected Error Costs 17.5 Risk versus Uncertainty Summary & Homework Problems End Notes 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 & Homework Problems End Notes 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 & Homework Problems End Notes Chapter 20: The Problem of Moral Hazard 20.1 Introduction 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 & Homework Problems End Notes Section VI: Organizational Design Chapter 21: Geting 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 & Homework Problems End Notes Chapter 22: Geting 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 & Homework Problems End Notes Chapter 23: Managing Vertical Relati onships 23.1 How Vertical Relationships Increase Profit 23.2 Double Marginalization 23.3 Incentive Conflicts between Retailers and Manufacturers 23.4 Price Discrimination 23.5 Antitrust Risks 23.6 Do Buy a Customer or Supplier Simply Because It Is Profitable Summary & Homework Problems End Notes Section VII: Wrapping Up Chapter 24: Test Yourself 24.1 Should You Keep Frequent Flyer Points for Yourself? 24.2 Should You Lay Off Employees in Need? 24.3 Manufacturer Hiring 24.4 American Airlines 24.5 Law Firm Pricing 24.6 Should You Give Rejected Food to Hungry Servers? 24.7 Managing Interest-Rate Risk at Banks 24.8 What You Should Have Learned Epilogue: Can Those Who Teach, Do? Glossary Index

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