Now in its sixth edition, Ivan Png's Managerial Economics has been extensively revised with
- an introductory chapter emphasizing decision-making and behavioral biases,
- intensive application to current business and economic issues including technology, globalization, and pandemics,
- a closing chapter highlighting business responses to climate change,
- a streamlined presentation focusing on the economics that managers need to know.
As always, the text presents the key concepts of microeconomics intuitively, without sophisticated mathematics. Throughout, it emphasizes actual management applications.
The new sixth edition is updated with fresh up-to-date vignettes and discussion questions from all over the world and enhanced with detailed instructor supplements. It is an ideal text for any course focusing on the practical application of microeconomic principles to management.
The book provides truly useful economics for managers. In the words of one professor, "I can use your book for serious conversation with adult students."
Table of Contents
1. Introduction to Managerial Economics Part I: Competitive Markets 2. Demand 3. Elasticity 4. Supply 5. Market Equilibrium Part II: Market Power 6. Costs 7. Monopoly 8. Pricing 9. Strategic Thinking Part III: Imperfect Markets 10. Externalities 11. Asymmetric Information 12. Incentives and Organization 13. Regulation
Ivan Png is a Distinguished Professor in the School of Business and Department of Economics at the National University of Singapore. Previously, Dr. Png was a faculty member at the Anderson School, University of California, Los Angeles (1985–1996) and the Hong Kong University of Science and Technology (1993–1996), and Visiting Professor at the Cornell Dyson School (2016). His book, Managerial Economics, has been published in multiple editions and adapted into Chinese (traditional and simplified characters). He is the Principal Investigator of a S$4.75 million project, SPIRE (Service Productivity and Innovation Research), funded by the Social Sciences Research Council, Singapore, 2017–2022.
"This book is full of engaging real-world examples that will help bring economic concepts to life for business students. Each chapter starts with an interesting motivating case, and additional entertaining examples are presented throughout. As a textbook, it provides a comprehensive coverage of relevant microeconomics topics with explanations that are intuitive, clear and concise."
Jaimie Lien, Assistant Professor, Chinese University of Hong Kong
"Ivan Png's book has an engaging selection of international business case studies combined with fundamental microeconomics tools. Concepts are presented in an intuitive way, the exercises explore them in depth, and the supplementary materials provide a richer learning experience. Any student of business with an interest in economics should start from this book."
Isleide Zissimos, University of Warwick
"I have been using Ivan Png’s book for 14 years for MBA teaching in Hong Kong and Shanghai. Light in mathematics and calculation, it is very user-friendly, a rare feature among numerous textbooks in the market on managerial economics. The many up-to-date examples from the Asia Pacific region make it particularly relevant for MBA students from the region."
Wen Zhou, Associate Professor, University of Hong Kong