Managerial Economics: A Problem-Solving Approach

By Nick Wilkinson

Book Overview

Managerial economics, meaning the application of economic methods in the managerial decision-making process, is a fundamental part of any business or management course. This textbook covers all the main aspects of managerial economics: the theory of the firm; demand theory and estimation; production and cost theory and estimation; market structure and pricing; game theory; investment analysis and government policy. It includes numerous and extensive case studies, as well as review questions and problem-solving sections at the end of each chapter. Nick Wilkinson adopts a user-friendly problem-solving approach which takes the reader in gradual steps from simple problems through increasingly difficult material to complex case studies, providing an understanding of how the relevant principles can be applied to real-life situations involving managerial decision-making. This book will be invaluable to business and economics students at both undergraduate and graduate levels who have a basic training in calculus and quantitative methods.

• Format: Paperback
• Language: English
• ISBN: 0521526256
• ISBN13: 9780521526258
• Release Date: May 2005
• Publisher: Cambridge University Press
• Length: 556 Pages
• Weight: 2.00 lbs.
• Dimensions: 1.2" x 6.7" x 9.6"

Customer Reviews

written with clarity

This is a book on managerial economics, or as I like to call it "practical microeconomics". It is written with great clarity, and is on undergraduate level understanding. The book assumes you know basic economics and have done a course in calculus: for example, you need to know what partial derivatives are and how to calculate them. Ideally you would have studied some statistics or econometrics as well. Although Wilkinson tries to explain the mathematics as simply and clearly as possible, prior knowledge will benefit you. I found the material very well explained and most topics easy to comprehend as a consequence of it. There are many case studies in each chapter, decent number of graphs and the formulae are not too technical. In terms of clarity the book is on the same level as Mankiw, Blanchard and Barro. In other words, beginner-friendly. In summary this book is a mix of microeconomic theory, econometrics, calculus, and a dash of management theory. It will not teach you anything related to behavioral economics and the like...which I think is abit of a shame on a personal note, because I think consumer behavior is, at the very least, equally relevant as the producer in economic systems.