For one-semester graduate MBA (Managerial) Micro- and Macroeconomics courses and Executive MBA programs.
This text presents economic theory that goes beyond principles of economics, and teaches economics of business
decision-making by combining elements of both micro- and macroeconomics. Each chapter begins with a "Case for Analysis"
section, which examines an article drawn from the current news media that illustrates the issues in the chapter;
this concrete, real-world example highlights relevant economic issues, which are then explained with the appropriate
economic theory.
Table of Contents
I. MICROECONOMIC ANALYSIS.
1.Managers and Economics.
2.Demand, Supply, and Equilibrium Prices.
3.Demand Elasticities.
Appendix 3A: Economic Model of Consumer Choice.
4. Techniques for Understanding Consumer Demand and Behavior.
5.Production and Cost Analysis in the Short Run.
6.Production and Cost Analysis in the Long Run.
Appendix 6A: Isoquant Analysis.
7.Market Structure: Perfect Competition.
8.Market Structure: Monopoly and Monopolistic Competition.
9.Market Structure: Oligopoly.
Appendix 9A: Data Sources for Firm and Industry Analysis (on web site).
10. Pricing Strategies for the Firm.
II. MACROECONOMIC ANALYSIS.
11. Measuring Macroeconomic Activity.
Appendix 11A: Data Sources for Measuring Aggregate Economic Activity (on web site).
12. Spending by Individuals, Firms, and Governments on Real Goods and Services.
Appendix 12A: Numerical Example of Equilibrium and the Multiplier.
Appendix 12B: Algebraic Derivation of the Aggregate Expenditure Function and the IS Curve.
13. The Role of Money in the Macro Economy.
Appendix 13A: Monetary Tools and the Market for Bank Reserves.
Appendix 13B: Deriving the LM Curve.
14. The Aggregate Model of the Macro Economy.
Appendix 14A: Specific and General Equations for the Aggregate Macro Model.
15. International and Balance of Payments Issues in the Macro Economy.
Appendix 15A: Specific and General Equations for the Balance of Payments.
III. INTEGRATION OF THE FRAMEWORKS.
16. Combining Micro and Macro Analysis for Managerial Decision-Making.
