Wiley: Managerial Economics, 3rd Edition

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Managerial Economics, 3rd Edition

Ivan Png (National University of Singapore), Dale Lehman (Alaska Pacific University)

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Now in its third edition, this highly readable, non-technical introduction to the essential microeconomic principles is perfect for business managers. The new edition retains its global focus and economic rigor, with an emphasis on the role of information in decision-making. The text 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. 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 foundation in the field.

Written for managers rather than economists
Each chapter begins with a real-world mini-case. Chapters are reinforced with progress checks, review questions, and discussion questions
New coverage of oligopoly, time value of money, behavioral economics, experience curve, R&D strategy, and more
Uses mathematics only where necessary
Extensive online resources are available at http://www.comp.nus.edu.sg/~ipng/mecon.htm including updates to the book, PowerPoint slides, an Instructor’s Manual, and answers to discussion questions
A wiki site at http://manecon.pbwiki.com/ provides additional examples as well as contributions from readers and instructors

Table of Contents

Preface.

1. Introduction to Managerial Economics.

Part I: Competitive Markets.

2. Demand.

3. Elasticity.

4. Supply.

5. Competitive Markets.

6. Economic Efficiency.

Part II: Market Power.

7. Costs.

8. Monopoly.

9. Pricing.

10. Strategic Thinking.

11. Oligopoly.

Part III: Imperfect Markets.

12. Externalities.

13. Asymmetric Information.

14. Incentives and Organization.

15. Regulation.

Answers to Progress Checks and Selected Review Questions.

Index of Companies and Organizations.

Subject Index

Author Information

Ivan Png is Kwan Im Thong Hood Cho Temple Professor and Professor of Business Policy and Economics at the National University of Singapore. Previously, he was a faculty member at the John E. Anderson School, UCLA (1985-96) and the Hong Kong University of Science & Technology (1993-6). He served as a nominated MP (10th Parliament of Singapore, 2nd session, 2005-06). His research has been published in the American Economic Review, Journal of Political Economy, Quarterly Journal of Economics, Management Science, and elsewhere.

Dale Lehman is an Associate Professor of Economics and Director of the MBA in Information and Communication Technology at Alaska Pacific University. He is the author, with Dennis Weisman, of The Telecommunications Act of 1996: The "Costs" of Managed Competition (2000).

New To This Edition

New coverage of oligopoly, time value of money, behavioral economics, experience curve, R&D strategy, and more
Extensive online resources are available at http://www.comp.nus.edu.sg/~ipng/mecon.htm including updates to the book, PowerPoint slides, an Instructor's Manual, and answers to discussion questions
A wiki site linked at http://polar.alaskapacific.edu/dlehman provides additional examples as well as contributions from readers and instructors

Hallmark Features

Uniquely presents the essential principles of managerial economics in a non-technical fashion
Distinctively focuses economic reasoning on various managerial functions, including accounting, finance, human resources, and marketing
Teaches students and managers how to employ microeconomics to be better managers and leaders
Updates to the third edition include: new and recent case studies that deal with firms working across borders, mini-cases at the beginning of each chapter, expanded analysis of organizational boundaries and architecture, as well as a Wiki site for user-added examples
Priced affordably for students

Reviews

“The text is well written and accessible. The case studies are fantastic—so often authors oversell the examples, but they are just right in this book. They are treated as illustrations rather than evidence. The introductory examples in each chapter are outstanding.”
Kenneth Corts, Rotman School of Management, University of Toronto 

“The level is exactly right for my MBA and P-MBA students. I think it is very important, at the MBA level, to have context-specific questions and Png and Lehman have met this test. The case studies are an extremely valuable component of the book.”
Brian Kench, John H. Sykes College of Business, University of Tampa

“We recommend this text because it provides high-quality exposition of complex topics using numerous relevant and informative case examples. It continues to be well organized and excellently explained.”
Edward Jones, Management School and Economics, University of Edinburgh

Professor Reviews

"The text is well written and accessible. The case studies are fantastic - so often authors oversell the examples, but they are just right in this book. They are treated as illustrations rather than evidence. The introductory examples in each chapter are outstanding."
Kenneth Corts, Rotman School of Management, University of Toronto

"The level is exactly right for my MBA and P-MBA students. I think it is very important, at the MBA level, to have context-specific questions and Png and Lehman have met this test. The case studies are an extremely valuable component of the book."
Brian Kench, John H. Sykes College of Business, University of Tampa

"We recommend this text because it provides high-quality exposition of complex topics using numerous relevant and informative case examples. It continues to be well organized and excellently explained."
Edward Jones, Management School and Economics, University of Edinburgh

Related Websites

http://www.comp.nus.edu.sg/~ipng/mecon.htm