Managerial economics

This book is intended both as a complement to and a substitute for the traditional intermediate course in economic theory. Our academic program today is such that the typical college graduate with a major in economies is, unfortunately, ill-equipped to go into business after graduation. I believe this need not be. It seems likely that in the future the area which (for want of a better term) is today called managerial economics will come to be a second course in economics at least coor dinate with the traditional intermediate theory course. Or, it may be that the traditional intermediate theory course will eventually include managerial economics. This book seeks to implement such a develop ment. If managerial economics is to become part of the kit of the college major in economics and part of the graduate program in business, no better mode of exposition can be employed than case material, since the heart of managerial economics is decision making. Whatever may be the advantages of the "case method" in other fields of study, this material is absolutely essential to the study of managerial economics.