Managerial Economics & Business Strategy

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bay90611_fm_i-xxviii.indd vii 10/31/16 04:45 PM
Thanks to feedback from users around the world, Managerial Economics and Business
Strategy remains the best-selling managerial text in the market. We are grateful to all of you
for allowing us to provide this updated and improved edition. Before highlighting some of
the new features of the ninth edition, we would like to stress that the fundamental goal of
the book—providing students with the tools from intermediate microeconomics, game theory, and industrial organization that they need to make sound managerial decisions—has not
changed. What has changed are the examples used to make managerial economics come to
life for this generation of students and the utilization of new technologies (such as Connect)
for enhancing the teaching and learning experiences of instructors and their students.
This book begins by teaching managers the practical utility of basic economic tools such
as present value analysis, supply and demand, regression, indifference curves, isoquants, production, costs, and the basic models of perfect competition, monopoly, and monopolistic competition. Adopters and reviewers also praise the book for its real-world examples and because
it includes modern topics not contained in any other single managerial economics textbook:
oligopoly, penetration pricing, multistage and repeated games, foreclosure, contracting, vertical and horizontal integration, networks, bargaining, predatory pricing, principal–agent
problems, raising rivals’ costs, adverse selection, auctions, screening and signaling, search,
limit pricing, and a host of other pricing strategies for firms enjoying market power. This
balanced coverage of traditional and modern microeconomic tools makes it appropriate for a
wide variety of managerial economics classrooms. An increasing number of business schools
are adopting this book to replace (or use alongside) managerial strategy texts laden with anecdotes but lacking the microeconomic tools needed to identify and implement the business
strategies that are optimal in a given situation.
This ninth edition of Managerial Economics and Business Strategy has been revised to
include updated examples and problems, but it retains all of the basic content that made previous editions a success. The basic structure of the textbook is unchanged to ensure a smooth
transition to this edition.
KEY PEDAGOGICAL FEATURES
The ninth edition retains all of the class-tested features of previous editions that enhance
students’ learning experiences and make it easy to teach from this book. But this edition
includes a number of new features available to those using McGraw-Hill’s wonderful interactive learning products, Connect and SmartBook. McGraw-Hill Connect® offers hundreds of
variations of end-of-chapter problems that may be electronically graded and provide students
with immediate, detailed, feedback. SmartBook® provides an adaptive reading experience.
Students and instructors can access these and other powerful resources directly from their
laptops, tablets, and phones. We know how important quality and accuracy is for both instructors and students when utilizing these enhanced features. For this reason, and unlike many
Preface
Final PDF to printer

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