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Textbook for students studying management.
This well-known book on the subject has stood the test of time for the last 35 years because of the quality of presentation of its text. It has become students’ favourite as it provides the latest theories, thoughts and applications on the subject with timely revisions to stay up-to-date all the time. Since its first edition, it has provided complete, comprehensive and authentic text on micro and macro aspects of managerial economics. It has now been revised thoroughly with added interpretations of economic theories and concepts and their application to managerial decisions.
Managerial economics, meaning the application of economic methods in the managerial decision-making process, is a fundamental part of any business or management course. The current business environment presents managers with increasingly difficult decisions, amidst the Covid-19 pandemic and associated lockdowns, as well as the digital revolution and improved technology. Now in its second edition, this textbook features a new focus on how managerial economics has been transformed by the increasing importance of digitization within both the workplace and wider economy. It also features a new chapter on consumer theory, which emphasizes psychological factors and behavioural economics. Wilkinson adapts a user-friendly problem-solving approach to take the reader in gradual steps from simple problems through increasingly difficult material to complex case studies, demonstrating how to apply the principles of managerial economics to real-life situations. This book will be invaluable to business and economics students at both undergraduate and graduate levels.
Embark on a strategic journey through the realm of business decisions with "Managerial Economics: An MCQ Exploration." This unique book invites readers to delve into the application of economic principles to managerial decision-making, exploring optimization, business strategy, and the economic considerations that drive effective management through carefully crafted multiple-choice questions. Key Features: Strategic Business Expeditions: Dive into the world of managerial economics with engaging MCQs that traverse decision-making processes, cost analysis, demand forecasting, and the strategic nuances that influence business outcomes. Analytical Insights: Test your understanding of economic concepts applied in a business context, market structures, and the economic foundations of managerial decision-making with insightful and entertaining multiple-choice questions that unveil the depth and relevance of managerial economics. Educational and Practical: This MCQ expedition isn't just a book; it's an educational and practical experience suitable for students, business professionals, and anyone intrigued by the intersection of economics and strategic management. Nostalgic Connection: Whether you're revisiting managerial economics concepts or delving into the field for the first time, this MCQ exploration provides a nostalgic and educational connection to the ever-evolving dynamics of business decision-making. "Managerial Economics: An MCQ Expedition into Decision-Making, Optimization, and Business Strategy" is your guide to an interactive exploration of the economic considerations in managerial roles. Available now on the Google Play Book Store, this MCQ guide invites readers to rediscover the analytical insights, strategic acumen, and practical applications of managerial economics in a format that seamlessly blends learning with the joy of reading. Order your copy today and immerse yourself in the strategic world where economic principles guide managerial decisions and business success. "Managerial Economics: An MCQ Exploration" is more than a book; it's an invitation to explore the frontiers of effective management in a whole new way.
Early traders dealt with competition on a relatively smaller scale as we do today. Most businesses were run mainly on the business acumen and knowledge of the trader without much study about the theories that ruled the world of business. While Economics has existed as a branch of knowledge since the ancient era, managerial economics is an emerging branch of economics which integrates business theories with practical business applications. In early days when business was less competitive, the application of economics to business was not considered to be important. But with the considerable amount of changes in the business landscape, and the cut-throat competition that dominates every aspect of business makes it important for business leaders in today’s world to understand economic theories and apply it prudently to the business to ensure steady growth and profits and to achieve the desired business goals.
This text introduces business and management students to economic concepts and shows economics students the skills needed in the world of business. Coverage includes: product differentiation; price discrimination; hiring and training workers; labour-management relations; and international trade.
This book provides a unified framework for business decision-making, by developing a logical and systematic approach to business problems. The book is split into three parts - The Nature of Decisions, The Decision Environment and Decision Areas, whilst each chapter concludes with a specific application of the principles and concepts outlined. The intended readership includes both undergraduate and postgraduate students of business, whilst its depth and range make it relevant to business studies and professional courses. Included in the book are a selection of undergraduate and postgraduate examination questions, together with notes on answers.