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Now in its sixth edition, Ivan Png's Managerial Economics has been extensively revised with
an introductory chapter emphasizing decision-making and behavioral biases,
intensive application to current business and economic issues including technology, globalization, and pandemics,
a closing chapter highlighting business responses to climate change,
a streamlined presentation focusing on the economics that managers need to know.
As always, the text presents the key concepts of microeconomics intuitively, without sophisticated mathematics. Throughout, it emphasizes actual management applications.
The new sixth edition is updated with fresh up-to-date vignettes and discussion questions from all over the world and enhanced with detailed instructor supplements. It is an ideal text for any course focusing on the practical application of microeconomic principles to management.
The book provides truly useful economics for managers. In the words of one professor, "I can use your book for serious conversation with adult students."
List of contents
1. Introduction to Managerial Economics Part I: Competitive Markets 2. Demand 3. Elasticity 4. Supply 5. Market Equilibrium Part II: Market Power 6. Costs 7. Monopoly 8. Pricing 9. Strategic Thinking Part III: Imperfect Markets 10. Externalities 11. Asymmetric Information 12. Incentives and Organization 13. Regulation
About the author
Ivan Png is a Distinguished Professor in the School of Business and Department of Economics at the National University of Singapore. Previously, Dr. Png was a faculty member at the Anderson School, University of California, Los Angeles (1985–1996) and the Hong Kong University of Science and Technology (1993–1996), and Visiting Professor at the Cornell Dyson School (2016). His book, Managerial Economics, has been published in multiple editions and adapted into Chinese (traditional and simplified characters). He is the Principal Investigator of a S$4.75 million project, SPIRE (Service Productivity and Innovation Research), funded by the Social Sciences Research Council, Singapore, 2017–2022.
Summary
Now in its sixth edition, Ivan Png's Managerial Economics has been extensively revised with intensive application to current business and economic issues. It is an ideal text for any course focusing on the practical application of microeconomic principles to management.
