The seventh edition of this market-leading textbook continues its tradition of providing a solid foundation of economic understanding for use in managerial decision making. It offers a practical treatment of economic theory and analysis in an intutive, algebra-based format. Its focus is on presenting those aspects of economic theory and analysis that are most relevant to students of business administration, and a wide variety of examples and simple numerical problems are used to illustrate the application of managerial economics to a vast assortment of practical situations. The nature of the decision process and the role that economic analysis plays in that process are emphasized throughout. This major revision is designed to maximize accessibility for an audience with little or no background in economics or higher-level mathematics. The text focuses on the economics--not the mathematics--of the managerial decision process.
About the Author
Mark Hirschey is the Anderson W. Chandler Professor of Business at the University of Kansas, where he teaches undergraduate and graduate courses in managerial economics and finance. He also is president of the Association of Financial Economists and a member of several professional organizations. Professor Hirschey has published articles for such leading academic journals as the American Economic Review, Review of Economics and Statistics, Journal of Business, Journal of Business and Economic Statistics, Journal of Finance, Journal of Financial Economics, and Journal of Industrial Economics. He also is the author of Fundamentals of Managerial Economics and Investments: Analysis & Behavior, the editor of Advances in Financial Economics, and past editor of Managerial Decision Economics. He earned his PhD from the University of Wisconsin-Madison.