The discipline of managerial economics is often considered as too theoretical and not practical enough for the real world.� The seventh edition of Managerial Economics is an attempt to provide a resourceful supplement to classroom teachings that will help students understand the importance and utility of economic theory for business decision making.This text is designed for upper-level undergraduate and first-year MBA courses in managerial economics and applied economics. In addition to discussing the applications of economic theory to the firm, this text includes chapters on various tools of analysis that are helpful to business decision makers but that are not part of the core of traditional microeconomic theory. These are demand, production and cost estimation using regression analysis, forecasting, capital budgeting and risk analysis. A discussion of linear programming is also available online, along with a review of the time value of money. A review of the mathematical concepts and tools used in the text has been placed on the Companion Website.
