Managerial Economics

Managerial Economics, 9th Edition, introduces undergraduates, MBAs, and executives to the complex decision problems today’s managers face, providing the knowledge and analytical skills required to make informed decisions and prosper in the modern business environment. Going beyond the traditional academic approach to teaching economic analysis, this comprehensive textbook describes how practicing managers use various economic methods in the real world. Each in-depth chapter opens with a central managerial problem—challenging readers to consider and evaluate possible choices—and concludes by reviewing and analyzing the decision through the lens of the concepts introduced in the chapter.

Extensively updated throughout, the text makes use of numerous extended decision-making examples to discuss the foundational principles of managerial economics, illustrate key concepts, and strengthen students' critical thinking skills. A range of problems, building upon material covered in previous chapters, are applied to increasingly challenging applications as students advance through the text. Favoring practical skills development over complicated theoretical discussion, the book includes numerous mini-problems that reinforce students' quantitative understanding without overwhelming them with an excessive amount of mathematics.

William F. Samuelson is professor of economics and finance at Boston University's Questrom School of Business. He received his BA and PhD from Harvard University. His research interests include game theory, decision theory, bidding, bargaining, and experimental economics. He has published a variety of articles in leading economics and management science journals including The American Economic Review, The Quarterly Journal of Economics, Econometrica, The Journal of Finance, Management Science, and Operations Research. His teaching and research have been sponsored by the National Science Foundation and the National Institute for Dispute Resolution, among others. He currently serves on the editorial board of Group Decision and Negotiation.

Stephen G. Marks is associate professor of law at Boston University. He received his JD, MA, and PhD from the University of California–Berkeley. He has taught in the areas of managerial economics, finance, corporate law, and securities regulation. His research interests include corporate governance, law and economics, finance, and information theory. He has published his research in various law reviews and in such journals as The American Economic Review, The Journal of Legal Studies, and The Journal of Financial and Quantitative Analysis.

Jay Zagorsky is a senior lecturer at Boston University's Questrom School of Business. He received his PhD and MA in Economics from Boston University. He has worked and consulted for a variety of high technology companies and served as Economist and Research Scientist for the US government's National Longitudinal Surveys. He has published a variety of articles on personal finance in economics, law, sociology, and psychology journals and has authored two other textbooks, Business Macroeconomics: A Guide for Managers, Investors and Traders and Business Information: Finding and Using Data in the Digital Age.