Description

Features

• NEW - Chapter on the “New Economy” business models—Chapter 12.

  • Provides students with a basic introduction to business activities involving the Internet such as B2C and B2B, rise and fall of dotcoms, supply-chain management, and customer relations management then links these activities to the fundamentals of managerial economics and analysis.

• NEW - Expanded, rewritten discussion of strategy in Chapter 10—Given the increasing consolidation in many industries over the past decade, business behavior and managerial decision making in oligopoly markets have become more relevant and important than ever. Chapter 10 also includes expanded coverage of game theory.

  • Keeps students up-to-date on curent trends and topics.

• NEW - Regrouped discussion of pricing and competition in the four basic market types—Treats perfect competition, monopolistic competition, and monopoly in one chapter, and oligopoly in another.

  • Emphasizes the particularly difficult task of making decisions in an oligopoly market.

• NEW - More than 50% new International Applications—Integrated throughout the text to provide global application of the theory.

  • Uses current examples to show students how economic tools help businesses compete in the rapidly changing global economy.

• NEW - Added appendix on asymmetric information, subject of the 2001 Nobel Prize in economic study.

  • Makes students aware of topics that have increased in importance in recent years and added further interest to the field.

• Each chapter starts and concludes with a running case study of a hypothetical company called “Global Foods”—Presents students with a specific scenario highlighting a challenge and implications for the firm's competitive position in the multinational food and beverage industry.

  • Shows students how the concepts of the chapter help managers solve real business problems enabling them to apply economic principles to everyday business activity.

• Unique final chapter on the application of economic analysis—Analyzes the semiconductor industry and the competitive challenges of a company within that industry.

  • Highlights how the tools presented throughout the textbook can be applied in a systematic way to analyze a single industry. The semiconductor industry was selected because of its importance to the economy and because its volatility provides a dramatic examples of the workings of supply and demand.

• Numerous, current business examples from the popular press—(e.g., Business Week, the Wall Street Journal) integrated throughout the text.

  • Highlights the relevance of economic concepts to current events, with a particular emphasis on international situations.

• Excel-based study aid—Intended to supplement and reinforce the concepts in the text. The modules (about 24 in all) contain an objective, an example with solution, and graphs.

  • Provides students with information tied to key concepts and referenced in the text.

New To This Edition

• Chapter on the “New Economy” business models—Chapter 12.

  • Provides students with a basic introduction to business activities involving the Internet such as B2C and B2B, rise and fall of dotcoms, supply-chain management, and customer relations management then links these activities to the fundamentals of managerial economics and analysis.

• Expanded, rewritten discussion of strategy in Chapter 10—Given the increasing consolidation in many industries over the past decade, business behavior and managerial decision making in oligopoly markets have become more relevant and important than ever. Chapter 10 also includes expanded coverage of game theory.

  • Keeps students up-to-date on curent trends and topics.

• Regrouped discussion of pricing and competition in the four basic market types—Treats perfect competition, monopolistic competition, and monopoly in one chapter, and oligopoly in another.

  • Emphasizes the particularly difficult task of making decisions in an oligopoly market.

• More than 50% new International Applications—Integrated throughout the text to provide global application of the theory.

  • Uses current examples to show students how economic tools help businesses compete in the rapidly changing global economy.

• Added appendix on asymmetric information, subject of the 2001 Nobel Prize in economic study.

  • Makes students aware of topics that have increased in importance in recent years and added further interest to the field.

Table of Contents



 1. Introduction.


 2. The Firm and Its Goals.


 3. Supply and Demand.


 4. Demand Elasticity.


 5. Demand Estimation.


 6. Forecasting.


 7. The Theory and Estimation of Production.


 8. The Theory and Estimation of Cost.


 9. Pricing and Output Decisions: Perfect Competition and Monopoly.


10. Pricing and Output Decisions: Monopolistic Competition and Oligopoly.


11. Special Pricing Practices.


12. Economic Decision Making in the 21st Century: The “Old” Economics of the “New Economy.”


13. Capital Budgeting.


14. Risk and Uncertainty.


15. Government and Industry: Challenges and Opportunities for Today's Managers.


16. Managerial Economics in Action: The Case of the Semiconductor Industry.

Courses

Intermediate Microeconomics (Algebra Based)  (Economics)
Managerial Economics  (Economics)

Next Edition(s)

• Managerial Economics, 6/E
  Keat & Young
  ©2009  |  Prentice Hall  |  Cloth; 592 pp  |  Instock
  ISBN-10: 0136040047  |  ISBN-13: 9780136040040
  Suggested retail price: $206.67  Buy from myPearsonStoreNet price: $155.00  (What's this?)Brief Description  | 

  

  For upper-level undergraduate and first-year MBA courses in managerial and applied economics.
  
  This text will excite readers by providing a more linear progression, while proving the consistency and relevance of microeconomic theory.
  
  

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Author Bios

Paul G. Keat has been a member of the Global Business Faculty at Thunderbird, The American Graduate School of International Management, for the past fifteen years. At present he is an Associate Professor Emeritus and Director of Research, CIBER Trade Assistance Service. Prior to his coming to Thunderbird he was for many years associated with the International Business Machines Corporation in professional and managerial capacities.

His education includes a B.B.A. in accounting from the Baruch School of the City University of New York, an M.A. from Washington University, and a Ph.D. in economics from the University of Chicago.

Dr. Keat began his IBM career in the department of economic research and then moved into the long-range planning area. Later, as a member of the finance function, he spent several years at IBM's European headquarters in Paris, as manager in the financial planning area, and then as the financial manager for the company's European software business. After his return to the United States, Dr. Keat served as manager in the pricing area of one of the company's manufacturing groups. Before leaving IBM, in 1987 he was associated with the company's International Finance, Planning and Administration School (IFPA), where he taught managerial economics, lectured on finance in a number of company-related courses, and managed academic courses. He also taught at IBM's IFPA school at La Hulpe, Belgium.

Dr. Keat has taught at several U.S. universities, including Washington University, CUNY, and Iona College. He was an adjunct professor of finance at the Lubin Graduate School of Business at Pace University, and he also taught in Pace's Executive MBA program.

Philip K.Y. Young is Clinical Professor of Management at Thunderbird, The American Graduate School of International Management. In this capacity, he conducts executive education programs for Thunderbird corporate clients throughout the world. Prior to this, he was Professor of Economics at the Lubin School of Business at Pace University. Dr. Young has over 20 years of experience developing and teaching in executive development programs. He served as the first visiting professor at the International Finance, Planning and Administration School of the IBM Corporation, where he developed and taught courses for IBM in both the United States and LaHulpe, Belgium.

Among the companies that currently utilize his teaching services are IBM, Verizon, British Telecom, SBC, ST Microelectronics, MasterCard International, Booz-Allen & Hamilton, and Dow Chemical. He teaches in executive programs for these and other companies in the United States, Latin America, Western and Central Europe, and Asia.

He has a B.A. from the University of Hawaii, a master's in international affairs from Columbia University, and a Ph.D. in economics from New York University.

Backcover Copy

Take advantage of all the Internet resources available for students and instructors using the Fourth Edition.

• Excel Spreadsheet Modules
• Online Quizzes with Web Applications
• Electronic Graphing Tool
• PowerPoint Lecture Notes

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Companion Website - Keat, 4/E
Keat
©2003  |  Prentice Hall  |  On-line Supplement; 0 pp  |  Live
ISBN-10: 0130498645  |  ISBN-13: 9780130498649
This online resource is available at no cost at http://www.prenhall.com/keat.
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Companion Website - Keat, 4/E
Keat
©2003  |  Prentice Hall  |  On-line Supplement; 0 pp  |  Live
ISBN-10: 0130498645  |  ISBN-13: 9780130498649
This online resource is available at no cost at http://www.prenhall.com/keat.
More Info

Excel Spreadsheets (on web), 4/E
Keat & Young
©2003  |  Prentice Hall  |  On-line Supplement; 0 pp  |  Live
ISBN-10: 0130498661  |  ISBN-13: 9780130498663
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PowerPoints (on web), 4/E
Keat & Young
©2003  |  Prentice Hall  |  On-line Supplement  |  Live
ISBN-10: 0130498653  |  ISBN-13: 9780130498656
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Companion Website - Keat, 4/E
Keat
©2003  |  Prentice Hall  |  On-line Supplement; 0 pp  |  Live
ISBN-10: 0130498645  |  ISBN-13: 9780130498649
This online resource is available at no cost at http://www.prenhall.com/keat.
More Info

Companion Website - Keat, 4/E
Keat
©2003  |  Prentice Hall  |  On-line Supplement; 0 pp  |  Live
ISBN-10: 0130498645  |  ISBN-13: 9780130498649
This online resource is available at no cost at http://www.prenhall.com/keat.
More Info

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