This text exhibits four unique features: 1) it uses the theory of the firm as the unifying theme to examine the managerial decision process; 2) it fully introduces a global view into managerial economics to reflect the internationalization of tastes, production, and distribution in today’s globalizing world; 3) it introduces many exciting new topics and managerial tools into the study of managerial economics that are not discussed at all or discussed only very superficially in other texts, such as firm architecture, strategic behavior, business ethics, electronic commerce, risk management, international economies of scale, the virtual corporation, reengineering, benchmarking, the learning organization, and the digital factory; and 4) it shows how managerial decisions are actually made today with more relevant and interesting real-world case applications and integrative case studies than any other text on the market.
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Dominick Salvatore is Professor of Economics and Business at Fordham University. He was chairman of the New York Academy of Sciences and consultant to the Economic Policy Institute in Washington, the United Nations in New York, and various multinational banks and corporations. Professor Salvatore is the author of 38 books, among which are: Microeconomics Theory and Applications (5th ed., 2004) and International Economics (8th ed., 2004), Financial Economics in the New Global Economy (2004), Protectionism and World Welfare (1993), and The Japanese Competitive Challenge and the U.S. Response (1990). He has also written Schaum¿s Outlines in Microeconomics, International Economics, and Statistics and Econometrics. Professor Salvatore is the editor of the Handbook Series in Economics for the Greenwood Press. He is the co-editor of the Journal of Policy Modeling and Open Economies Review, and associate editor of the American Economist. His research has been published in more than 100 journal articles in leading business and economics journals and presented at numerous national and international conferences.Review:
For the most part I like Salvatore’s text. I think this is one of the better managerial economics textbooks in circulation. I think the writing is lucid and the presentation is great. The author presents the material in an easily accessible manner. I think the writing flows smoothly, and the students do not have much difficulty in absorbing the material presented. The examples and the case studies are well chosen. I have used the text both at the advanced undergraduate as well as the MBA level and I think the students like the style of writing and the presentation. The themes stated in the preface are quite commensurate with my teaching philosophy.
The number of case studies is certainly impressive, and they provide nice examples of the theory.
Managerial Economics in a Global Economy by Dominick Salvatore, fourth edition, is definitely one of the top contenders in this field. As is evident from his other texts on micro theory and international economics, in his Managerial text, Professor Salvatore has succeeded in negotiating the often fine line between accessibility, rigor, and comprehensiveness. The result is a text that scores very high in readability, rigor, and coverage. He deserves much credit, and our applause, for integrating international topics that give the students the added benefit of insights into global management education. I strongly recommend this book for senior-level or MBA programs.
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