The beauty of a book on managerial economics is that it can be used as a way of introducing business and management students to economic concepts as well as providing economics students with a clear grasp of how to use the skills they will need in the world of business.
What sets this book apart is its use of game theory as its theoretical underpinning. Previous texts have taught concepts without taking into account notions of strategy and the motivations of all the agents involved in a particular economic situation. This book will redress that balance.
Topics considered include:
*international trade (essential in this era of globalization)
*product differentiation and advertising
*price discrimination
*human capital