Managerial Economics: Problem-Solving in a Digital World

Description

Managerial economics, meaning the application of economic methods in the managerial decision-making process, is a fundamental part of any business or management course. The current business environment presents managers with increasingly difficult decisions, amidst the Covid-19 pandemic and associated lockdowns, as well as the digital revolution and improved technology. Now in its second edition, this textbook features a new focus on how managerial economics has been transformed by the increasing importance of digitization within both the workplace and wider economy. It also features a new chapter on consumer theory, which emphasizes psychological factors and behavioural economics. Wilkinson adapts a user-friendly problem-solving approach to take the reader in gradual steps from simple problems through increasingly difficult material to complex case studies, demonstrating how to apply the principles of managerial economics to real-life situations. This book will be invaluable to business and economics students at both undergraduate and graduate levels.

Nick Wilkinson is Professor of Economics at Richmond International University. He has authored two books, Managerial Economics: A Problem-Solving Approach (Cambridge University Press), and An Introduction to Behavioral Economics (Palgrave Macmillan), now in its third edition.

'As a second edition this is a virtually new book of some 776 pages. This reflects the growth of managerial economics itself in recent years. It defines and uses digitization where big data and other advances reflect the increasing ability to connect people, devices and objects anywhere. A distinctive feature of this much expanded new edition is the plethora of case studies which will not date. Each chapter expands the fundamental principles, clearly using mathematics and statistics where appropriate. The textbook package includes chapter slides, worked problems, further exercises and an instructor's manual. It is the complete textbook which will endure for a long time to come. Each chapter has case studies and exercises which are up to date and can be adapted and expanded. It is managerial economics at its best, reflecting the latest advances in economic theory and behavioural economics. Nor are important aspects of macroeconomics neglected in this magisterial and user friendly book.' John Mark, King's College London, University of London