Managerial Economics (ISBN 1405160470)

Book Description:
Now in its third edition, this highly readable, non-technical introduction to the essential microeconomic principles needed by business managers retains its global focus and economic rigor, and has been extensively updated and rewritten to include new and recent cases and examples from a multitude of countries and economic systems, applied to managerial situations. Written for managers rather than economists, this text uses mathematics strictly where it is absolutely necessary. This edition includes "mini-cases" at the beginning of each chapter, offers an expanded analysis of organizational boundaries and architecture, new coverage of oligopoly, the time value of money, and R & D, and adds a Wiki site where users may post their favorite examples. Utilizing economic analysis to spotlight topics in accounting, finance, human resources, and marketing, Managerial Economics, 3e employs a simple, pedagogic model, providing the most up-to-date and relevant information in the field.

To Business Leaders: This is the Managerial Economics book:
As an undergraduate Economics minor, general manager of a software company, and current MBA candidate, I consider Png's Managerial Economics work an essential addition to any business leader's library - especially anyone required to make key, informed decisions in the presence of scarce resources. Dr. Png's Managerial Economics is head and shoulders above comparable managerial economics texts due to Png's use of relevant, real-world examples that drive home the course fundamentals. Dr. Png's content combines the science of Economics with the tenets of business strategy, providing the student with the key perspective needed to make intelligent business decisions in today's ever-changing business environment. Instead of plodding over-explanation or over-simplification like many comparable texts, Dr. Png's work delivers the course concepts with informed clarity. Instead of feeling stupefied or unworthy after reading each chapter of the text, I increasingly gained a sense of knowledge and understanding as I progressed. This is the great difference between Dr. Png's work and the other comparable texts I have used: instead of feeling mystified, I finished the book with a higher degree of workable, usable economic know-how, that I have already incorporated into my every-day decision making I highly recommend Dr. Png's Managerial Economics (2nd. Ed.) text to any student of business or anyone simply interested in keeping current with cutting-edge economic thought.

If you were ask to choose 1 book for your business desk?:
Let's say that you are not an economist, you are just a business man as I am, when you are ask about microecomics maybe you can still recall something from the university days... but what if you are ask about a soundly pricing policy? usage of elasticities? cost curves? marginal cost/revenues? Do you still feel comfortable with what you recall from university? Maybe not, like me. If you are wondering about having a single book of microeconomics, this book is the one you are looking for (it is also great for MBAs).

Using this text in an undergraduate course.:
I have used this book on several times, teaching an undergraduate managerial econ. course with 25-35 students. The overall reaction was good, most students understood the contents and felt that the text concentrated on usable tools, not just abstract economic models. The book may need supplementation for some types of students, something that allows them to do their own empirical or quasi empirical applicatons of some of the tools (e.g., a demand study using Excel).

To Business Leaders: This is the Managerial Economics book:
As an undergraduate Economics minor, general manager of a software company, and current MBA candidate, I consider Png's Managerial Economics work an essential addition to any business leader's library - especially anyone required to make key, informed decisions in the presence of scarce resources. Dr. Png's Managerial Economics is head and shoulders above comparable managerial economics texts due to Png's use of relevant, real-world examples that drive home the course fundamentals. Dr. Png's content combines the science of Economics with the tenets of business strategy, providing the student with the key perspective needed to make intelligent business decisions in today's ever-changing business environment. Instead of plodding over-explanation or over-simplification like many comparable texts, Dr. Png's work delivers the course concepts with informed clarity. Instead of feeling stupefied or unworthy after reading each chapter of the text, I increasingly gained a sense of knowledge and understanding as I progressed. This is the great difference between Dr. Png's work and the other comparable texts I have used: instead of feeling mystified, I finished the book with a higher degree of workable, usable economic know-how, that I have already incorporated into my every-day decision making I highly recommend Dr. Png's Managerial Economics (2nd. Ed.) text to any student of business or anyone simply interested in keeping current with cutting-edge economic thought.

To Business Leaders: This is the Managerial Economics book:
As an undergraduate Economics minor, general manager of a software company, and current MBA candidate, I consider Png's Managerial Economics work an essential addition to any business leader's library - especially anyone required to make key, informed decisions in the presence of scarce resources. Dr. Png's Managerial Economics is head and shoulders above comparable managerial economics texts due to Png's use of relevant, real-world examples that drive home the course fundamentals. Dr. Png's content combines the science of Economics with the tenets of business strategy, providing the student with the perspective necessary to make intelligent business decisions in today's ever-changing business environment. Instead of plodding over-explanation or over-simplification like many comparable texts, Dr. Png's work delivers the course concepts with informed clarity. Instead of feeling stupefied or unworthy after reading each chapter of the text, I increasingly gained a sense of knowledge and understanding as I progressed. This is the great difference between Dr. Png's work and the other comparable texts I have used: instead of feeling mystified, I finished the book with a higher degree of workable, usable economic know-how, that I have already incorporated into my every-day decision making I highly recommend Dr. Png's Managerial Economics (2nd. Ed.) text to any student of business or anyone simply interested in keeping current with cutting-edge economic thought.