Managerial Economics: A Problem Solving Approach

by Luke M. Froeb, Brian T. McCann

This breakthrough text shows MBA's how to use economics to solve business problems. Succinct, faced paced, and challenging, students should be able to read the book from cover to cover and come away with a good understanding of how to diagnose business problems, and then fix them. With a lively, interactive approach, MANAGERIAL ECONOMICS focuses on the kinds of decisions managers face on a daily bases, making it an excellent resource for students pursuing business -- rather than academic -- careers. "Managerial Economics: A Problem Solving Approach is a breath of fresh air. After having taught managerial economics for 20 years, I became dissatisfied with texts that confront students with graphs, economic principles only loosely connntected to business problems, and tedious calculations. I wanted a text that really helps students to see how economic principles could help them solve business problems. This new text does just that."--Ed Millner, Chairman, Department of Economics, Virginia Commonwealth University. "With no experiece in business and no exposure to math since a D in high school trig, I found economics utterly incomprehensible. Then [the text] spoke one sentence to me, ... It all became clear."--PJ O'Rourke, one of America's leading political satirists and best-selling author of Eat the Rich: a Treatise on Economics. "In twenty years, it will be seen as the standard way to teach economics."--Robert Litan, Vice President for Research and Policy at the Kauffman Foundation.

Genres: Business, Management, Nonfiction, Textbooks, Academic

320 pages, Hardcover

First published March 2, 2007

Reviews

[Deborah Horton · Rating 4 out of 5]

Really helpful in building my critical thinking skills when applied to economics. It was fairly easy to understand as well, and I liked the usage of practical scenarios.

[Philip Verde · Rating 5 out of 5]

This is the only book of its kind you really need. I have a shelf full of business textbooks, crammed full of so many words that they lose their meaning. Managerial Economics, with its ten page chapters, removes all the b.s. and explains economic and strategic concepts in language I can understand.

[Julie · Rating 3 out of 5]

The book itself is pretty good. The online accessory, not so much. Frequent typos. Sometimes it lines up with the summary and end of chapter questions,
OST of the time it doesn’t. The videos are horrible. Froeb can write a decent textbook- however he should have someone else do the video narration. He is too monotone for the information to stick. Ended up watching other videos online to supplement.

[Jonathan Hogan · Rating 4 out of 5]

Managerial Economics provides an overview of the topics in business economics and teaches the student how to solve problems that will present in the workplace. I enjoyed the material and found it fascinating for a textbook. I would recommend this book for higher degree seekers or individuals who need a handbook for the daily problems you face at work.

[Landon · Rating 4 out of 5]

Required book for my business class, Global Economic Environment. I thought this book was interesting enough to read. I like to read anything that deals with science or such economic and the environment.

[Tony | Outwork · Rating 5 out of 5]

I preferred text for economics. The chapters are short and only focus on a few concepts instead of trying to cover every aspect of business and economics. Great companion for more complex textbooks.

[Melissa · Rating 4 out of 5]

As good as one can expect from an economics textbook. Fairly easy to understand and has really good video lectures to go along with it.

[Ryan Ahmed · Rating 4 out of 5]

-good in its economy of words, but some concepts need a few more pages
-more stossel less froeb ;)

[Kit · Rating 1 out of 5]

This book is complete ass. The vocal fry this guy has on the accompanying videos makes me want to scream, and he just reads the slides! Nothing more! Instead of grouping the math problems with examples of the variables and how to complete the math problems (with multiple examples), it's just a firehose of vague concepts. All this book made me think was that economics is a whole bunch of word salad invented to give some abstract financial thinker a job.

For funsies, here's the author's attempt at humor:
'An economist and his fiancée who were receiving premarital counseling from a priest before he would marry them. The priest’s first question to the couple was, “Why do you want to get married?” The economist’s fiancée answered, “Because I love him and want to spend the rest of my life with him.” The economist had a different answer: “Because long-term contracts induce higher levels of relationship-specific investment.” The priest looked puzzled, so the economist continued, “You know, the kind of investments differentiate a marriage from a spot-market transaction.”

A year later, trying hard to find the right words to express how he felt about his wife, he wrote...that his “relationship-specific investment was earning an above-average rate of return.”

Can I just be put out of my misery yet?!

[Kate · Rating 5 out of 5]

Great MBA text. Easy-to-read. Examples are easy to apply. My favorite chapters were on moral hazards, and adverse selections.

[Kate · Rating 5 out of 5]

Easy-to-read, well-written, and enjoyable MBA text. My favorite chapters were on adverse selections and moral hazards.

[Asif · Rating 5 out of 5]

A very different but successful approach to teaching economics. Highly recommended.

[Rich Bennett · Rating 4 out of 5]

A good book, but not a good text book.

[Phil · Rating 4 out of 5]

It's good. For a textbook.