Microeconomics for MBAs: The Economic Way of Thinking for Managers, authored by Richard B. McKenzie, now in its third edition, is a comprehensive guide designed to introduce MBA students to microeconomic principles relevant to their career goals. The textbook maintains a balance between theory and practice, keeping mathematical complexities minimal while enriching the learning experience with real-life scenarios. Accompanying online video tutorials are included for selected concepts and arguments, providing additional support for exam preparation.

Developed over twenty years of teaching microeconomics to MBA students, this textbook is structured into clear chapters, each divided into two parts. Part I delves into key economic principles, laying a foundational understanding, while Part II applies these principles to management challenges and issues related to organizational behavior and incentives. The focus on the ‘principal-agent’ problem emphasizes maximizing firm profitability—lessons that are directly applicable to real-world business scenarios.

By treating economics and management as interrelated disciplines, McKenzie ensures that the economic way of thinking is integrated into everyday business practices. With 762 pages of detailed content, this textbook serves as an essential resource for MBA students seeking to enhance their understanding of microeconomic principles and their practical applications in managing organizations.