"Paul G. Keat has been a member of the Global Business Faculty at Thunderbird School


of Global Management for the past twenty-five years. At present he is an Associate Professor


Emeritus. Prior to his coming to Thunderbird, he was associated for many years


with the International Business Machines Corporation in professional and managerial


capacities.


 


Philip K. Y. Young is the founder and president of Nth Degree Systems, Inc., a consulting firm


that provides customized education and training programs to major corporations around the world.


He recently co-founded Learning Burst Academy, a company that produces courses in


business education in an innovative, digital format. 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.


 


Stephen E. Erfle began his career as a managerial economist during a 1994-1995 sabbatical


at Seagram Classics Wine Company (SCWC). Dr. Erfle received a B.S. in mathematics and B.A. in


economics from the University of California, Davis, and a master's and Ph.D. in economics from


Harvard University. He has also taught in the Economics Department at Dickinson College and in the


School of Social Sciences at the University of California, Irvine.


 


Sreejata Banerjee is Visiting Professor, formerly Associate Professor and the Union


Bank Chair for Excellence in Banking at the Madras School of Economics. Presently,


she is Adjunct Professor at the Chennai Mathematical Institute. She taught economics


and finance at the Loyola Institute of Business of Management, Great Lakes Institute


of Management, and Chennai Business School. She has also taught at the Heriot Watt


University's Edinburgh Business School.


She is reviewer at Applied Economics (Routledge), NCAER and other journals. Her research


interests are macroeconomics, managerial economics, commodities, derivatives, and international


finance. Dr. Banerjee received B.A. Hons from Calcutta University and masters from Jadavpur University


PhD from Madras University Department of Econometrics.


"


 

"Chapter 1 Introduction


Chapter 2 The Firm and Its Goals


Chapter 3 Supply and Demand


Appendix 3A The Mathematics of Supply and Demand


Chapter 4 Demand Elasticity


Appendix 4A Applications of Supply and Demand


Chapter 5 Demand Estimation and Forecasting


Appendix 5A The Demand for White Zinfandel in Los Angeles


Appendix 5B Understanding Consumer Behavior Through Testing


Chapter 6 The Theory and Estimation of Production


Appendix 6A Productivity in Services


Appendix 6B The Multiple-Input Case


Appendix 6C Analyzing Production Functions with the Use of Calculus


Chapter 7 The Theory and Estimation of Cost


Appendix 7A A Mathematical Restatement of the Short-Run Cost Function


Appendix 7B The Estimation of Cost


Appendix 7C Interview with a Supply Chain Management Executive


Chapter 8 Pricing and Output Decisions: Perfect Competition and Monopoly


Appendix 8A The Use of Calculus in Pricing and Output Decisions


Appendix 8B Break-Even Analysis (Volume-Cost-Profit)


Chapter 9 Pricing and Output Decisions: Monopolistic Competition and Oligopoly


Appendix 9A A Mathematical Restatement of Monopolistic Competition


Chapter 10 Special Pricing Practices


Chapter 11 Game Theory and Asymmetric Information


Chapter 12 Capital Budgeting and Risk


Appendix 12A The Value of a Corporation


Chapter 13 The Multinational Corporation in a Global Setting


Chapter 14 Government and Industry: Challenges and Opportunities for Today's Manager


Chapter 15 The Global Soft Drink Industry


Appendix A Statistical and Financial Tables


"


 

. Excel Applications have been developed for the numerical and graphical illustrations used throughout the text. They allow readers to turn the static figures and tables in the text into dynamic illustrations, and they will also strengthen students' ability to use Excel, which we believe is a critical skill in today's job market.


· Chapters have been updated and a few of them rewritten to include recent developments and in-depth coverage of current topics.


· Valuable inputs and learnings have been provided by outside experts from improve


discussions about other topics of importance and current interest in business. Supply chain systems implementation in companies such as Dell and IBM have also been included to obtain a better idea of the actual challenges of initiating and implementing a supply chain management system.


·  A novelty of this edition is a discussion on disruptive technology and its implication. This is with reference to the cab hailing application(app) Uber and Ola that have taken the world by storm.