Richard B. McKenzie
University of California, Irvine
Dwight R. Lee
University of Georgia
Hardback(ISBN-13: 9780521859813 | ISBN-10: 0521859816)
This is the first textbook in microeconomics written exclusively for MBA students. McKenzie/Lee minimizes attention to mathematics and maximizes attention to intuitive economic thinking. The text is structured clearly and accessibly: Part I of each chapter outlines the basic theory and Part II applies this basic theory to management issues. ‘Perspective’ sections in each chapter provide a new line of argument or different take on a business or policy issue, and carefully chosen topics and review questions are designed to spark lively and instructive debates. Throughout the book, McKenzie and Lee aim to infuse students with the economic way of thinking in the context of a host of problems that MBA students, as future managers of real-world firms, will find relevant to their career goals.
• Specially designed with only the needs and interests of MBA students in mind • Microeconomic theory is kept free of technical complexities and illustrated with real problems • Written in an engaging and accessible style • Unlike other microeconomics textbooks, it focuses on improving management skills by discussing how managers can make better decisions within their firms • Accompanying DVD of Professor McKenzie lecturing covers concepts all MBA students need to understand, as well as elucidating complex lines of argument and acting as a revision aid
Contents
1. Microeconomics, a way of thinking about business; 2. Competitive product markets and firm decisions; 3. Principles of rational behaviour at work in society and business; 4. The logic of group behaviour in business and elsewhere; 5. Government controls: how management incentives are affected; 6. Reasons for firm incentives; 7. Consumer choice and demand in traditional and network markets; 8. Product costs and business decisions; 9. Production cost short run and long run; 10. Firm production under idealized competitive conditions; 11. Monopoly power and firm pricing decisions; 12. Firm strategy under imperfectly competitive market conditions and under government regulations; 13. Competitive and monopsonistic labor markets; 14. Problems in collective decision making; 15. International trade and finance.
Reviews
The text is a masterful extension of McKenzie and Lee's considerable talents in applying the economic way of thinking to literally every aspect of human behavior and makes a significant contribution to the science of managing people in the firm setting. They offer far more coverage on public policy than the traditional managerial economics text and solid explanations of the actual human behavior 'behind the curves'. This is a 'must see' for faculty teaching the MBAs.' J. R. Clark, Probasco Chair, The University Of Tennessee/Chattanooga
The most difficult thing in teaching microeconomics for MBAs is to focus on the consistent application of economic principles to real world management problems […] McKenzie and Lee's emphasis on getting the incentives right within firms emphasizes that what economics has to offer students is principles, rather than answers, because the principles need to be combined with particular facts and judgments, which is the essence of management. In particular, their focus on the logical explanation of principles and applications rather than mathematical treatments that imply management issues have unique, precise and correct answers, makes Microeconomics for MBAs far more useful for managers than alternative texts.' Gary Galles, Professor of Economics, Pepperdine University