This is the first textbook in microeconomics written exclusively for MBA
students. McKenzie and Lee minimize attention to mathematics and
maximize attention to intuitive economic thinking, examining key
questions such as “How should organizations and incentives be structured
to best encourage profit maximization?” The text is structured clearly and
accessibly: Part A of each chapter outlines the basic theory with
applications to social and economic policies and Part B applies this basic
theory to management issues, with a substantial focus on the emerging
subdiscipline of organizational economics. On the publisher’s website for
Microeconomics for MBAs (www.cambridge.org/micro4mbas), the
authors have provided an array of additional materials that complement
the theory and applications in the printed textbook. They have placed
online a “perspective” for each chapter, which provides a new line of
argument or different take on a business or policy issue and which we
highly recommend for ten- and fifteen-week courses. To make this edition
of the textbook more workable for shorter (five- and seven-week) courses,
the authors have moved coverage of more than two dozen topics to the
publisher’s website, listing them under “Further readings online.” The
textbook is also accompanied by several dozen online video modules in
which Professors McKenzie and Lee give a personal tutorial on the key
microeconomic concepts which MBA students need to understand, as well
as elucidate complex lines of argument covered in the chapters and help
students to review for tests. Throughout the text, McKenzie and Lee aim to
infuse students with the economic way of thinking in the context of a host
of problems that MBA students, as future managers of real-world firms,
will find relevant to their career goals.
Richard B. McKenzie is the Walter B. Gerken Professor of Enterprise
and Society in the Paul Merage School of Business at the University
of California, Irvine.
Dwight R. Lee is Professor of Economics and William J. O’Neil Chair of
Global Markets and Freedom in the Edwin Cox School of Business at
Southern Methodist University.