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Microeconomics for MBAs: The Economic Way of Thinking for Managers, by Richard B. McKenzie, Dwight R. Lee
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The textbook that develops the economic way of thinking through problems that MBA students will find relevant to their career goals. Theory and math is kept as simple as possible and illustrated with real-life scenarios. This textbook package includes online video tutorials on key concepts and complex arguments, and topics likely to be assessed in exams. The distinguished author team has developed this textbook over 20 years of teaching microeconomics to MBA students. Chapters are clearly structured to support learning: Part I of each chapter develops key economic principles. Part II draws on those principles to discuss organizational and incentive issues in management and focuses on solving the 'principal-agent' problem to maximize the profitability of the firm - lessons that can be applied to problems MBAs will face in the future. Economics and management are treated equally; this unique textbook presents economics as part of the everyday thinking of business people.
- Sales Rank: #773547 in Books
- Published on: 2010-07-19
- Original language: English
- Number of items: 1
- Dimensions: 9.69" h x .98" w x 7.44" l, 3.05 pounds
- Binding: Hardcover
- 563 pages
Review
'The McKenzie/Lee text is the best book in its field, both for coverage and readability. The text is an excellent example of how microeconomic analysis can be applied to real world managerial decisions. The writing style will delight students and make the instructor's interaction with students much richer.' Barry Keating, University of Notre Dame
About the Author
Richard B. McKenzie is the Walter B. Gerken Professor of Enterprise and Society in the Paul Merage School of Business at the University of California, Irvine.
Dwight R. Lee is Ramsey Professor of Economics and Enterprise in the Terry College of Business at the University of Georgia.
Most helpful customer reviews
1 of 1 people found the following review helpful.
... well before the expected due date and in the best of shape
By Saalih K. Muzakkir
This book was received well before the expected due date and in the best of shape. It is like a brand new book and I am very happy with this purchase, thank you!
7 of 7 people found the following review helpful.
Microeconomics Light
By Jaewoo Kim
This is a well written book catered specifically to MBA students. But it is definitely watered-down. This is definitely an MicroEconomics 101 level book and involves nothing more than utilizing basic arithematic. If you want a quantatitively rigorous (Calculus and stats) Microeconomics text book that has many mathematical formulas, derivatives, and problems, then this book is does not fit that bill. If you are looking for Microeconomics Light, then this book is as good as any.
My main problem with this book is its lack of quantitative analysis problems and their solutions. Almost every problem at the end of each chapter is conceptual and involves no mathematical calculations. I also think this book can use a CD with Excel spreadsheets and examples on how we can use data to calculate where MC=MR based on P vs Q and VC vs Q data, for example.
But that would mean doing something quantitative which this book seems to avoid at all costs.
The best part of this book is its extremely well crafted graphs and their explanations. I would say they are worth the price of this book. If you can understand the graphs and their explanations, you have understood most of the contents of this book.
I would give this book 3.5 stars. It does a great job of explaining microeconomics concepts, but without the rigorous mathematical explanations that may baffle some readers. Nevertheless, its strength also hinders it from becoming a more rigorous and thought provoking book.
0 of 0 people found the following review helpful.
This book is a disappointment for me
By HopeCameron
This book is a disappointment for me. The book is not cohesive enough, and the explanations for illustrations are not written very well. I don't recommend it for using to teach classes. It needs to be planned out better. The authors explain some things well, but I think they need some more editing to make things more concise and less redundant.
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