Managerial Economics

Howard Davies and Pun-Lee LamManagerial Economics, Third EditionThis new version of the text first published in 1989 stays true to the aims of the first two editions. It provides a clear introduction to Managerial Economics for students who have no previous background in economic analysis and at the same time develops the analysis to a level that is appropriate for second or third year undergraduates or for postgraduate students who are taking the subject for the first time. The text shows how economic analysis can be of relevance to business decision-making without making pretentious and unjustified claims for its practical application.As the boundaries between economic analysis and other business disciplines have become blurred, and as economics has made an increasing contribution to the study of marketing and business strategy, so it becomes possible to link the different subjects. This text includes material on: * 'The marketing mix' and decisions associated with it. * Game theory. * The evolving contribution of economics to the analysis of business strategy - from Porter's work on the structural analysis of industries to the resource-based perspective. * Network industries and the information economy. * Transactions cost analysis and its applications.Key Features * Includes self-test questions, exercises, essay questions and a solutions section. * New structure, starting with the firm, followed by the business environment, the analysis of business decisions and two chapters on public policy. * New chapters on game theory, corporate strategy, the economics of networks and the economics of regulated industries.This book is primarily directed towards second and third year undergraduate students of business, management or accounting, who have already completed a basic introductory course in economics. However, it does not assume any prior knowledge and can also be used as a first introduction to managerial economics for postgraduate or post-experience students.Howard Davies is a Professor in the Department of Business Studies at The Hong Kong Polytechnic University where he was previously Head of Department and Dean of the Faculty. Before moving to Hong Kong he taught in the Polytechnic sector in the UK. His teaching and research interests lie in Managerial Economics and China Business.Dr Pun-Lee Lam is an Associate Professor in the Department of Business Studies at The Hong Kong Polytechnic University. He teaches Managerial Economics and has published widely on the Economics of Regulation.