byJames R. Mcguigan, William Rentz, Alfred L Kahl

Hardcover | December 29, 2005

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This text is designed for use by undergraduate and graduate students in departments of economics, schools of business management, public administration, and information technology. Students are presumed to have a background in the basic principles of economics. Prior course work in statistics and quantitative methods is desirable but not essential. All statistical material is confined to Web Chapters 13 - 15. The book makes occasional use of elementary concepts of differential calculus. A review of these basic concepts is provided in Web Appendix 2A. In all cases where calculus is employed, one or more alternative approaches, such as graphical, algebraic, or tabular analysis, are also presented. Spreadsheet applications have become so prominent in the practice of managerial economics that we now explain many concepts of optimization in this context.
James R. McGuigan owns and operates his own numismatic investment firm. Prior to this business, he was Associate Professor of Finance and Business Economics in the School of Business Administration at Wayne State University. He also taught at the University of Pittsburgh and Point Park College. Dr. McGuigan received his undergraduate d...
Title:MANAGERIAL ECONOMICS, 1ST CANADIAN EDITIONFormat:HardcoverDimensions:416 pages, 10.13 × 8.25 × 0.75 inPublished:December 29, 2005Publisher:Nelson College IndigenousLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0176224289

ISBN - 13:9780176224288


Table of Contents

Chapter 1--Introduction and Goals of the FirmThis chapter now includes discussion of:-Discussion of the firm''''s vision and mission-Porter''''s Five Forces of Competitive Strategy-Market Value Added in relation to Shareholder Wealth Maximization-Asymmetric information-New case exercise on reforming health care in CanadaChapter 2-Review of Fundamental Economic ConceptsThis chapter now includes a new Figure 2.4 along with discussion of market equilibrium.The Appendix on Optimization Techniques has been posted on the web.Chapter 3-Demand AnalysisThis chapter now includes discussion of:-indifference curves-attribute analysis-health careChapter 4-Production EconomicsThis chapter now includes:-Ontario and California energy crises-increasing returns in information-economy businesses-lean production techniquesThe Appendix on Production Decisions and Linear Programming has been posted on the web.Chapter 5-Cost EconomicsThe discussion of accounting, economic, and sunk costs has been strengthened. This chapter now includes:-Aluminum intensive vehicle lowers minimum efficient scale-Air Canada''''s cost structure-How Japanese firms deal with the problem of sizeAppendices on Breakeven versus Contribution Analysis and Long-Run Costs with a Cobb-Douglas Production Function have been posted to the web.Chapter 6-Price and Output Determination: Pure and Monopolistic CompetitionThis chapter has been reorganized. The material on game theoretic applications has been moved to end of this chapter to consolidate all of the material on the analysis of cost curves in competitive environments. New applications include:-Rawlings'''' product differentiation-Dell''''s cost leadership-7-Eleven JapanChapter 7--Price and Output Determination: Monopoly and Dominant FirmsThe following new material is featured:-an expanded discussion of network effects and declining costs in computer components (external economies of scale)-new case exercise on pharmaceutical pricing across nationsChapter 8--Price and Output Determination: OligopolyThis chapter has been reorganized. The game-theoretic material is now at the end of the chapter. New material on Cournot, Stackelberg, and Bertrand oligopoly models has been added. A new table comparing these models has been added. New applications include:-Nokia''''s cell phone margins-Hewlett-Packard''''s dominance in the printer market-cartels and major league baseball-barometric firm price leadership-the unsuccessful launch of Motorola''''s Iridium worldwide wireless phoneChapter 9--Pricing StrategiesThis chapter now includes:-new material on 1st, 2nd and 3rd degree price discrimination-new material on bundling-new material on differential retail pricing-new material on product life cycle pricing-new material on the pricing of online products-new material on transfer pricingAppendices on Revenue Management and Pricing of Joint Products and Transfer Pricing are posted to the web.Chapter 10-Organizational ArchitectureThis chapter now includes:-the role of contracting in manufacturer-distributor and other cooperative games-other functions of commercial contracting-governance mechanisms and the problem of moral hazard-contract renewals and the hold-up problem-the principal-agent model-screening and sorting managerial talent with performance-based contracts-choosing an efficient organizational form-vertical integration-licensing, patents, and trade secrets-case exercise on designing a performance-based executive compensation contractChapter 11--Government RegulationThis chapter has been thoroughly updated. Among the new topics and updated discussions are:-externalities and market failure-the contestability of airline markets-import beer competition in Mexico-Microsoft lawsuits-air pollution attainment restrictions on business growthChapter 12-Introduction to International Managerial EconomicsThis new chapter discusses:-purchasing power parity-fluctuating exchange