His education includes a B. Keat began his IBM career in the department of economic research and then moved into the long-range planning area. After his return to the United States, Dr. Keat has taught at several U. Philip K. Young www. He recently co-founded Learning Burst Academy www. He is also a member of the global faculty network of Duke Corporate Education. He has thirty years of teaching experience as a professor of economics in MBA programs and over twenty-five years of experience developing and teaching customized education and training programs.
Most of Dr. His list of clients includes a number of multinational corporations in industries such as information technology, telecommunications, fast-moving packaged consumer goods, consulting services, advertising and public relations, pharmaceuticals, semiconductor manufacturing and design, diversified manufacturing, and financial services. Young received a B. Stephen E. On returning to Dickinson College, Dr. Erfle decided to refocus his teaching in a more applied direction.
He helped found the International Business and Management department and major during the late s. One of the core courses in that major is his course, Managerial Economics, which uses Excel as a teaching platform. This course is modeled after what he did during his SCWC sabbatical. In the past fifteen years, he has taught more than a thousand undergraduates how to build economic models in order to do comparative statics analysis and how to do regression modeling in Excel.
Erfle received a B. We're sorry! We don't recognize your username or password. Please try again. The work is protected by local and international copyright laws and is provided solely for the use of instructors in teaching their courses and assessing student learning. You have successfully signed out and will be required to sign back in should you need to download more resources.
Managerial Economics, 7th Edition. Keat, Thunderbird Philip K. Description For upper-level undergraduate and first-year MBA courses in managerial and applied economics. This text will excite readers by providing a more linear progression, while proving the consistency and relevance of microeconomic theory. Each chapter includes a: Situation Presentation of economics tools and analysis Solution Integrated Running Case Every chapter begins and ends with a situation facing managers at Global Foods, Inc.
By encapsulating the concepts with this integrated case, students will always know how the concepts apply to them. By following one company, in one industry, students are able to see how economic decision-making can be applied across the vast array of functional units within the same organization. In this edition, more examples, both in the Global Application sections and in the main body of the chapter, are drawn from world growth markets such as China, India, Brazil, and Russia.
Appendices and Companion Website www. Business Simulation: New to the seventh edition is an online, computer-based business simulation. The student has the choice of being a low-price competitor e. The student competes against two computer-generated companies. One is a low-price competitor; the other is a premium-priced competitor. Students make decisions on price, marketing, process development to lower costs , and production capacity.
By making these decisions and getting the results, students learn in a dynamic and engaging way about the concepts of price and marketing elasticities and the interdependency of pricing in oligopolistic markets. Online Study Guide: The Online Study Guide offers students another opportunity to sharpen their problem-solving skills and to assess their understanding of the text material. The Online Study Guide grades each question submitted by the student, provides immediate feedback for correct and incorrect answers, and allows students to e-mail results to up to four e-mail addresses.
Excel Applications Excel Apps : Excel Apps allow readers to turn the static figures and tables in the text into dynamic illustrations. These apps, noted with an icon, are available to readers on the website; an index delineating what is in each Excel app is provided on the inside rear cover of the text.
New to This Edition. New co-author, Stephen Erfle of Dickinson College , has contributed many revisions and improvements to the quantitative sections of the text, as well as provided a major addition: the use of Excel in the presentation of many of the numerical and graphical illustrations presented throughout the text.
Excel Applications Excel Apps have been added for a number of the numerical and graphical illustrations used throughout the text.
Excel Apps allow readers to turn the static figures and tables in the text into dynamic illustrations. A series of Regression Excel Apps provide readers with a more detailed discussion of many of the topics in regression analysis touched on in Chapter 5.
See the Excel apps listing on the back cover for further information about regression topic coverage in various chapters. A rewritten chapter on game theory and asymmetric information Chapter This was in response to user feedback asking for stronger intuition of this challenging topic.
There is increased coverage of game theory and bargaining as well as a more in depth discussion of adverse selection and moral hazard. A new chapter on managerial economics in action Chapter This chapter was written especially for this edition by a seasoned industry consultant, Farshad Sarmad. Using current industry data and his own experiences, Farshad shows how the factors affecting supply and demand can be readily applied to various segments of the soft drink industry in countries around the world.
Chapter 5, Demand Estimation and Forecasting, has an added section on significant developments in information and communications technology e. This section was written by Riyon Harding, an expert in the commercialization of IP at IBM, a company that is recognized throughout the world for the number of new patents it receives from the government every year. Navin Punjabi, a professor of business in Mumbai, discusses some of the challenges of doing business in India Chapter John Mathis, Professor of Global Economics and Finance, has written a highly informative summary of the causes and consequences of the Financial Crisis Chapter Steve Martson, a recently retired executive who has led supply chain systems implementation in such companies as Dell and IBM, talks about some of his experiences working in this very important field Appendix 7C.
As we have done in all of our previous editions, we have updated our examples wherever appropriate. We have kept some of the examples that we first introduced in our previous editions if we believe they serve as good teaching illustrations, regardless of when they occurred. We have recently updated our policy. Plans are billed monthly.
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