Markets for Managers: A Managerial Economics Primer

Preface

I have been fortunate to learn economics from some of the best teachers in the world. When I first stepped into a classroom to teach, in 2006, I felt overwhelmed by the task of condensing so much of the wonder of economics into such a short space of time. I still do.

This book originates from the lecture notes I've used in the classroom. It reflects the courses I've followed (in particular those of Malcolm Walter, Arthur Thomas, Peter Boettke and Jeffrey Rogers Hummel), and textbooks I've read. Although I've tried to provide extensive references I am probably guilty of oversight. I don't claim any originality or expert skills at synthesis. I have utilised lots of quotes and links to emphasise that I see myself as a guide, rather than a guru. Most books aimed at time poor professionals have an easy to communicate (i.e. simple) central idea that is presented in a counterintuitive way with well-written anecdotes. This book takes a step back. It is for people who enjoy ‘pop economics’, but want something more substantial. It fills in some of the holes, and stretches out a broad and serious look at the discipline of economics.

I cannot hope to replicate the content and delivery of a Managerial Economics course in book form. What I have tried to do is provide a substitute for the passive element of a formal MBA. If you want an overview of key concepts, embedded in examples, then this book is enough. But to really understand the material you need to discuss it, and apply it. ...