Microeconomics for MBAs: The Economic Way of Thinking for Managers 2nd Edition PDF Download Ebook. Richard B. McKenzie and Dwight R. Lee show 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.
The most difficult thing in teaching microeconomics for MBAs is to focus on the consistent application of economic principles to real world management problems. McKenzie and Lee's emphasis on getting the incentives right within firms emphasizes that what economics has to offer students is principles, rather than answers, because the principles need to be combined with particular facts and judgments, which is the essence of management.
In particular, their focus on the logical explanation of principles and applications rather than mathematical treatments that imply management issues have unique, precise and correct answers, makes this book far more useful for managers than alternative texts.
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