Microeconomics for MBAs

‘In the third edition, McKenzie and Lee extend the economic way of thinking further into how the structure of firms’ organization, finance, and pay affect their profitability and, in the process, make a significant contribution to the science of managing people in the firm setting. With updated sections on the housing bubble, its collapse, and the policies that produced it, they offer more coverage on public policy than the traditional managerial economics text and solid explanations of the actual human behavior ‘behind the curves’. With behavioral economist’s findings infused and analyzed throughout the text, this is a ‘must see’ for faculty teaching the MBAs.’ J. R. Clark, Probasco Chair, University of Tennessee, Chattanooga‘Microeconomics for MBAs conveys fundamental economic principles in a clear, concise and intriguing manner, utilizing the economic way of thinking to examine relevant business issues. It teaches students to think like an economist by focusing on the institutions and rules that structure incentives for decision-making. It is one of the best textbooks for teaching MBAs as it uses many real-life examples to illustrate how economic concepts are useful in explaining everyday life, including business phenomenons.’ Claudia Williamson, Mississippi State University‘This text is easily the best in the market. McKenzie and Lee cover the important economic concepts for MBA students to review and learn - with more emphasis on the intuitive, but enough focus on the technical. The text is loaded with applications to business practice. As a result, students find it relevant and enjoyable.’ Eric Schansberg, Indiana University Southeast‘People who work in the field of public policy, business, finance, or the non-profit sector often encounter issues and situations involving complex market developments. Many such people often wish that they have had more training in the concepts, analytical framework, and toolkits of economics. This book fills that need. It is geared to the practitioner, providing case studies, examples, and applications, as well as a foundation for making critical public policy and business decisions. The book provides a view from the lens of organization and management, and includes a useful take on behavioral economics.’ Walter Park, American University, Washington DC

Richard B. McKenzie is the Walter B. Gerken Professor of Enterprise and Society Emeritus in the Paul Merage School of Business at the University of California, Irvine. Dwight R. Lee is a Professor Emeritus at the University of Georgia and Scholar in Residence in the William J. O’Neil Center for Global Markets and Freedom at Southern Methodist University.