Managerial Economics & Business Strategy
Managerial Economics & Business Strategy, part of the McGraw-Hill Series in Economics, provides a comprehensive and balanced approach to the tools of microeconomics and their practical application in business decision-making. Now in its ninth edition, this resource blends traditional economic theory with modern strategy to help managers navigate complex market environments.
Book Details
- Title: Managerial Economics & Business Strategy
- Author: Michael R. Baye and Jeffrey T. Prince
- Edition: 9th Edition
- Publisher: McGraw Hill
- ISBN-10: 1259290611
- ISBN-13: 978-1259290619
- Publication Date: December 2, 2016
Content Overview
The ninth edition has been meticulously revised to include updated examples and problems while maintaining the core content that has made it a market leader. It teaches the practical utility of fundamental economic tools, including present value analysis, supply and demand, regression, indifference curves, isoquants, production, and cost analysis. It offers a deep dive into various market structures, including perfect competition, monopoly, and monopolistic competition.
This edition is distinguished by its extensive coverage of modern topics and real-world applications. Key areas of focus include oligopoly, multistage and repeated games, foreclosure, and contracting. Readers will explore advanced business strategies such as vertical and horizontal integration, network effects, bargaining, and principal–agent problems. Additionally, the text provides in-depth analysis of sophisticated pricing strategies for firms with market power, including penetration pricing, predatory pricing, limit pricing, auctions, and screening and signaling. This blend of traditional and modern microeconomic tools makes the book an essential resource for understanding the economic foundations of successful business strategy.