The goal of Thomas and Maurice's "Managerial Economics" has always been, and continues to be, to teach students the economic way of thinking about business decision and strategy. This edition continues to develop critical thinking skills and provides students with a logical way of analyzing both the routine decisions of managing the daily operations of a business as well as the longer-run strategic plans that seek to manipulate the actions and reactions of rival firms. "Managerial Economics" has always been a self-contained textbook that requires no previous training in economics. While maintaining a rigorous style, this book is designed to be one of the most accessible books in managerial economics from which to teach and learn because of its clarity of presentation and strong end of chapter problems. Rather than parading students quickly through every interesting or new topic in microeconomics and industrial organisation, this 10th edition instead carefully develops and applies the most useful concepts for business decision making and strategic planning.

Table of Contents

Part I: Some PreliminariesCHAPTER 1: Managers, Profits, and MarketsCHAPTER 2: Demand, Supply, and Market EquilibriumCHAPTER 3: Marginal Analysis for Optimal DecisionsCHAPTER 4: Basic Estimation TechniquesPart II: Demand AnalysisCHAPTER 5: Theory of Consumer Behavior CHAPTER 6: Elasticity and Demand CHAPTER 7: Demand Estimation and ForecastingOnline Topic 1: Estimating and Forecasting Industry Demand for Price-Taking FirmsPart III: Production and Cost AnalysisCHAPTER 8: Production and Cost in the Short RunCHAPTER 9: Production and Cost in the Long RunCHAPTER 10: Production and Cost EstimationOnline Topic 2: Linear ProgrammingPart IV: Profit-Maximization in Various Market StructuresCHAPTER 11: Managerial Decisions in Competitive MarketsCHAPTER 12: Managerial Decisions for Firms with Market PowerCHAPTER 13: Strategic Decision Making in Oligopoly MarketsPart V: Advanced Managerial Decision MakingCHAPTER 14: Advanced Pricing TechniquesOnline Topic 3: Pricing Multiple Products Related in ProductionCHAPTER 15: Decisions under Risk and UncertaintyCHAPTER 16: Government Regulation of BusinessOnline Topic 4: The Investment DecisionAPPENDIX: STATISTICAL TABLES

Author Biography

Christopher R. Thomas is currently Exide Professor of Sustainable Enterprise at University of South Florida. He worked for two years as an energy economist at Oak Ridge National Laboratory before joining the faculty at USF in 1982. Chuck Maurice was professor emeritus of economics at Texas A&M University. He spent 30 years in the Department of Economics at Texas A&M, where he served as department head from 1977 through 1981 and held the Rex B.