Editorial Review:
The seventh edition of this market-leading text continues its tradition of providing a solid foundation of economic understanding for use in managerial decision making. It offers a practical treatment of economic theory and analysis in an intutive, algebra-based format. Its focus is on presenting those aspects of economic theory and analysis that are most relevant to students of business administration, and a wide variety of examples and simple numerical problems are used to illustrate the application of managerial economics to a vast assortment of practical situations. The nature of the decision process and the role that economic analysis plays in that process are emphasized throughout. This major revision is designed to maximize accessibility for an audience with little or no background in economics or higher-level mathematics. The text focuses on the economics--not the mathematics--of the managerial decision process.
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Customer Reviews
Average Customer Rating: 
Managerial Economics  2008-10-03
Managerial Economics, a good book for the management student with a simple theory and less numerical's.For knowledge this book is good ,only for the theory purpose but not for the one's who want to practise mathematical analysis.
AVOID THIS BOOK AT ALL COSTS  2007-10-18
This is one of those textbooks that you're forced to buy for the class, but after struggling through 2-3 chapters you resolve to ditch the book and just rely on class lectures. Following this textbook is like following the tenured professor who may be a star academic in his/her field, but when it comes to teaching their own subject their presentation skills are abysmal at best.
The chapters of this book are very difficult to follow. The language is very dry. The equations are squeezed between paragraphs, they're poorly displayed, and in some cases they're just flat out incorrect. If you're forced to use this book, buy the cliff's notes and any other study aids you can get your hands on. Maybe even find some older editions of some econ books that cover the same subjects and use them as supplements.
When you truly apply yourself, textbooks are supposed to help you understand the subject matter and help supplement what you don't pick up in lectures. This textbook just makes me want to cut my losses and drop the class (hoping I can retake it with an different prof who uses a different textbook).
Covers everything  2007-09-27
When buying this book at amazon I thought might be it will not cover everything including chapters and problems but trust me I could locate everything that this book should cover.
Thanx to Amazon.
An outstanding text for the study of managerial economics! 2006-10-05
As an instructor of economics, I give high marks to Mark Hirschey in his compilation of a textbook designed for studying a subject integral for any student of business or administrative sciences. It is designed primarily for those who may not necessarily have a strong quantitative background but need to understand the fundamentals of decision making and its application of economic concepts. The study of management comes from economics in that a manager makes decisions to maximize the objectives of an organization by efficiently allocating limited resources given limited choices or alternatives. The means of efficiently utilizing resources form the basis for making sound economic decisions whether an individual is running a small business operation or directing the workings of a major corporation.
Hirschey provides excellent examples to support the concepts that he presents in each chapter. There are a total of 18 chapters along with appendices. Each chapter tries to relate both management and economic principles to the workings of a business entity and show what real world problems may impede the applications of theoretical concepts. The manager is both a decision maker and a risk taker, and each decision he/she makes has both short-run and long-run results. One need not have an extensive quantitative background to attempt to solve the problems that Hirschey presents at the end of each chapter.
Mark Hirschey has provided a clear and concise text for understanding the economic applications to decision making in the business world. It is not surprising that a number of academic institutions use this book as the standard text for their managerial economics classes both at the undergraduate and graduate levels. Teachers should find it suitable to use for enhancing the learning processes of future business and professional leaders with its numerous illustrations and examples of important concepts and its continuous references to contemporary issues.
Very Disappointed 2005-09-16
I am using this text for a managerial economics class for MBA students. I selected this text because it includes chapters on statistics, linear programming and risk, which I am covering in the class. Unfortunately, it is filled with errors - typos, incorrect formulas, and misrepresentation of basic economic concepts, such as derived demand. Some of the typos and other mistakes make concepts very confusing for the students. I am extremely disappointed. I expected much better from a book that is the eighth edition. I do not understand how it went to print with so many mistakes. I have contacted the publisher. I will not be using this text again.
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