Keat and Young Editions 4 5 6 Comparison

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    Tables of Content for Keat and Young 6thand 5thEditions

    Table of Contents 6thEdition Table of Contents 5thEditionCopyright, iv Copyright, iiPreface, xix Preface, xvAbout the Authors, xxiii About the Authors, xx

    Chapter 1. Introduction, 1 1. Introduction, 1Introduction: Economics and Managerial Decision Maing, ! Introduction: Economics and Managerial Decision Maing, "#he Economics of a $usiness, % #he Economics of a $usiness, &A $rief 'evie( of Important Economic #erms and Concepts, ) A $rief 'evie( of Important Economic #erms and Concepts, *#he Case of +lobal oods, Inc-: .ituations and .olutions, /0 #he Case of +lobal oods, Inc-: .ituations and .olutions, /%.ummary of the .ituations and .olutions, /& .ummary of the .ituations and .olutions, /&+lobal Application: 'einventing the Corporation #hrough .trategy and1(nership, /*

    International Application: 'einventing the Corporation, !2

    .ummary, !/ .ummary, !0Important Concepts, !! Important Concepts, !03uestions, !! 3uestions, !0

    Chapter 2. The Fir and Its !oals, 2" 2. The Fir and Its !oals, 26Introduction, !% Introduction, !4#he irm, !% #he irm, !4

    Coase and the Internet, !) #he Economic +oal of the irm and 1ptimal Decision Maing, "!#he Economic +oal of the irm and 1ptimal Decision Maing, !* +oals 1ther #han Pro5t, ""+oals 1ther #han Pro5t, "2 1nce Again6Do Companies Maximi7e Pro5ts8, "%

    Economic +oals, "2 Maximi7ing the 9ealth of .tocholders, ")Economic 1bectives, "/ Economic Pro5ts, 0!;oneconomic 1bectives, "! International Application, 0"

    1nce Again6Do Companies Maximi7e Pro5ts8, "! .ummary, 0%Pro5t Maximi7ation, 'estated, "% Important Concepts, 0%

    Maximi7ing the 9ealth of .tocholders, "& 3uestions, 0&Maret

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    Table of Contents 6thEdition Table of Contents 5thEditionong>'un Maret Analysis: #he ?+uiding@ or ?Allocating unction@ of Price,%&

    Case ">/ CoBee: ?$uy o( and .ell igh@, &&

    sing .upply and Demand in orecasting, &2 Case ">! Air #ravel: ?$uy igh and .ell o(@, &&.upply, Demand, and Price: #he Managerial Challenge, &/ International Application: Competition Among Countries for the +lobal

    Demand for CoBee, &4Case "-/ CoBee: ?$uy o( and .ell igh@, &! .ummary, 42Case "-! Air #ravel: ?$uy igh and .ell o(@, &" Important Concepts, 4/+lobal Application: #he Maret for Cobalt, &0 3uestions, 4!

    #he Current Maret .ituation, &0 Problems, 4"A $rief istory of the Maret for Cobalt, &% Appendix "A- #he Mathematics of .upply and Demand, 4&Implications for Managers, &%.ummary, &)Important Concepts, &)3uestions, &*Problems, 42Appendix "A: #he Mathematics of .upply and Demand, 40

    Chapter ". &eand Elasticit%, (( ". &eand Elasticit%, ()#he Economic Concept of Elasticity, 4) #he Economic Concept of Elasticity, )2#he Price Elasticity of Demand, 4) #he Price Elasticity of Demand, )/Measurement of Price Elasticity, 4* #he Cross>Elasticity of Demand, *4

    #he Determinants of Elasticity, )0 Income Elasticity, **#he EBect of Elasticity on Price and 3uantity, )% 1ther Elasticity Measures, /2!#he Elasticity of Derived Demand, )& Elasticity of .upply, /2"Elasticity in the .hort 'un and in the ong 'un, )4 International Application: Price Elasticities in Asia, /2"

    Demand Elasticity and 'evenue, )* .ummary, /2he Mathematics of Elasticity, *! Important Concepts, /2&Empirical Elasticities, *" 3uestions, /24#he Cross>Elasticity of Demand, *0 Problems, /2)Empirical Elasticities, *& Appendix 0A- Applications of .upply and Demand, ///

    Income Elasticity, *& Interference (ith the Price Mechanism, ///1ther Elasticity Measures, ** #he Incidence of #axes, //0Elasticity of .upply, /22 Actual .ituations, //&

    +lobal Application: Price Elasticities in Asia, /22 .ummary, /!0.ummary, /2"

    Important Concepts, /2"3uestions, /20Problems, /2%Appendix 0A: Applications of .upply and Demand, /2*

    Chapter 5. &eand Estiation and Forecasting, 12" 5. &eand Estiation and Forecasting, 125Demand Estimation, /!& Demand Estimation, /!4Introduction, /!& 'egression Analysis: A Management $rie5ng, /!*

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    Table of Contents 6thEdition Table of Contents 5thEditioney Chapter 1bectives, /!& Problems in the se of 'egression Analysis, /"4#he Critical Importance of +ood Data, /!& International Application: ood in .pain, Cigarettes in #ai(an, /0/'egression Analysis: A Management $rie5ng, /!4 orecasting, /0".pecifying the 'egression E=uation and 1btaining the Data, /!4 Prere=uisites of a +ood orecast, /00

    Estimating and Interpreting the 'egression CoeFcients, /"2 orecasting #echni=ues, /00.tatistical Evaluation of the 'egression 'esults, /"! International Application: orecasting Exchange 'ates, /&4

    'evie( of ey .teps for Analy7ing 'egression 'esults, /"" .ummary, /42Implications of the 'egression Analysis for Management Decisions,/"%

    Important Concepts, /4/

    Problems in the se of 'egression Analysis, /"% 3uestions, /4!#he Identi5cation Problem, /"%Multicollinearity, /"4Autocorrelation, /"4Examples of 'egression Analysis in Economic 'esearch, /"*$rief .ummary of #(o 'ecent Examples of Economic .tudies sing'egression Analysis, /"*+lobal Application: ood in .pain, Cigarettes in #ai(an, /02orecasting, /0/Introduction, /0/.ubects of orecasts, /0!

    Demand Estimating and Demand orecasting, /0!Prere=uisites of a +ood orecast, /0"orecasting #echni=ues, /0"Expert 1pinion, /001pinion Polls and Maret 'esearch, /0%.urveys of .pending Plans, /0%Economic Indicators, /0&Proections, /0)Econometric Models, /&!+lobal Application: orecasting Exchange 'ates, /&&.ummary, /&*Important Concepts, /423uestions, /4/Problems, /4!

    Appendix %A: #he Demand for 9hite Ginfandel in os Angeles, /4)Chapter 6. The Theor% and Estiation of *roduction, 1'6 6. The Theor% and Estiation of *roduction, 1()#he Production unction, /)4 #he Production unction, /)/A .hort>'un Analysis of #otal, Average, and Marginal Product, /)* A .hort>'un Analysis of #otal, Average, and Marginal Product, /)"#he a( of Diminishing 'eturns, /*/ #he ong>'un Production unction, /*"#he #hree .tages of Production in the .hort 'un, /*0 #he Estimation of Production unctions, /*&Derived Demand and the 1ptimal evel of

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    Table of Contents 6thEdition Table of Contents 5thEdition!2%

    #he Case of Multiple Inputs HAbridged 'un Production unction, /** International Application: Is China 'unning 1ut of 9orers8, !2)#he Estimation of Production unctions, !2! .ummary, !/2

    #he Douglas Production unction, !20 3uestions, !/!.tatistical Estimation of Production unctions, !2& Problems, !/"

    Aggregate Production unctions, !2* Appendix &A- #he MultipleKInput Case, !/*#he Importance of Production unctions in Managerial DecisionMaing, !/2

    .ubstituting Input actors, !/*

    Careful Planning Can elp a irm to se I ts 'esources in a'ational Manner, !//

    #he 1ptimal Combination of Multiple Inputs, !!0

    +oing ?$eyond the Curves@: Current Production Issues andChallenges for #odayLs Managers, !/!

    #he 1ptimal evels of Multiple Inputs, !!&

    Call Centers: Applying the Production unction to a .ervice, !/0 Appendix &$- Expressing the Production unction (ith the se ofCalculus, !!*

    International Application: Is China 'unning 1ut of 9orers8, !/& A $rief 'evie( of the Production unction, !!*.ummary, !/4 Marginal Product: #he irst Derivative of the #otal Product unction, !!*Important Concepts, !/) Converting the Cobb>Douglas unction into a inear orm, !"2

    3uestions, !/* #he 1ptimal Combination of #(o Inputs, !"/Problems, !!2Appendix &A: Productivity in .ervices, !!&Appendix &$: #he Multiple>Input Case, !"4Appendix &C: Expressing the Production unction (ith the se ofCalculus, !0)

    Chapter (. The Theor% and Estiation of Cost, 252 (. The Theor% and Estiation of Cost, 2###he Importance of Cost in Managerial Decisions, !%" #he Importance of Cost in Managerial Decisions, !"%

    #he De5nition and se of Cost in Economic Analysis, !%% #he De5nition and se of Cost in Economic Analysis, !"&istorical versus 'eplacement Cost, !%% #he 'elationship bet(een Production and Cost, !")1pportunity Cost versus 1ut>of>Pocet Cost, !%% #he .hort>'un Cost unction, !02.un versus Incremental Cost, !%& #he ong>'un Cost unction, !0&

    #he 'elationship bet(een Production and Cost, !%4 #he earning Curve, !%%#he .hort>'un Cost unction, !%* Economies of .cope, !%)

    Increasing Cost EFciency in the .hort 'un, !&! Economies of .cale: #he .hort 'un versus the ong 'un, !%*Alternative .peci5cations of the #otal Cost unction, !&! .upply Chain Management, !%*#he ong>'un Cost unction, !&0 Examples of 9ays Companies ave Cut Costs to 'emain Competitive,

    !&!#he 'elationship bet(een ong>'un Production and ong>'unCost, !&0

    International Application: 9ill All 1ur Clothes $e Made in China8 , !&&

    Economies of .cale, !&& .ummary, !&)

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    Table of Contents 6thEdition Table of Contents 5thEdition#he ong>'un Average Cost Curve as the Envelope of .hort>'unAverage Cost, !&*

    Important Concepts, !&*

    sing ong>'un Average Cost as a Decision>Maing #ool: #heImportance of Coordinating Production Plans (ith Maretorecasts, !4/

    3uestions, !42

    #he earning Curve, !4" Problems, !4/

    Economies of .cope, !4& Appendix 4A- A Mathematical 'estatement of the .hort>'un Costunction, !4&

    Economies of .cale: #he .hort 'un versus the ong 'un, !44 Appendix 4$- #he Estimation of Cost, !44.upply Chain Management, !44 #he Estimation of .hort>'un Cost unctions, !44Examples of 9ays Companies ave Cut Costs to 'emain Competitive,!)2

    #he Estimation of ong>'un Cost unctions, !)/

    Cautionary ;ote to Managers about the se of Cost>Cutting as a.trategy, !)%

    .ummary, !)&

    +lobal Application: #oll Manufacturing of Chemicals in China, !)&.ummary, !)*Important Concepts, !)*3uestions, !*2Problems, !*!Appendix 4A: A Mathematical 'estatement of the .hort>'un Cost

    unction, !*4Appendix 4$: #he Estimation of Cost, !*)Chapter '. *ricing and +utput &ecisions *erfect Copetitionand -onopol%, #)

    '. *ricing and +utput &ecisions *erfect Copetition and-onopol%, 2''

    Introduction, "/2 Introduction, !*2Competition and Maret #ypes in Economic Analysis, "/! Competition and Maret #ypes in Economic Analysis, !*/

    #he Meaning of Competition, "/! Pricing and 1utput Decisions in Perfect Competition, !*0Examples of Maret #ypes, "/" Pricing and 1utput Decisions in Monopoly Marets, "24Maret #ypes and Competition in #heory and 'eality, "/0 #he Implications of Perfect Competition and Monopoly for Managerial

    Decision Maing, "//Pricing and 1utput Decisions in Perfect Competition, "/% International Application: Perfect Competition Means More #han ust the

    .hifting of .upply and Demand Diagrams, "/"#he $asic $usiness Decision, "/% .ummary, "/4ey Assumptions of the Perfectly Competitive Maret, "/% Important Concepts, "/4

    #he #otal 'evenueK#otal Cost Approach to .electing the 1ptimal1utput evel, "/*

    3uestions, "/)

    #he Marginal 'evenueKMarginal Cost Approach to inding the1ptimal 1utput evel, "!2

    Problems, "/*

    Economic Pro5t, ;ormal Pro5t, oss, and .hutdo(n, "!" Appendix )A- #he se of Calculus in Pricing and 1utput Decisions, "!!#he Competitive Maret in the ong 'un, "!& Perfect Competition, "!!

    Pricing and 1utput Decisions in Monopoly Marets, "!) Monopoly, "!!

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    Table of Contents 6thEdition Table of Contents 5thEdition#he Implications of Perfect Competition and Monopoly forManagerial Decision Maing, ""/

    Appendix )$- $rea>Even Analysis HCost>Pro5t, "!0

    +lobal Application: #he $rutal Economics of the Maret for $lue5n#una, """

    Introduction, "!%

    .ummary, ""4 #he $rea>Even Point, "!&Important Concepts, ""4 $rea>Even 'evenue, "!)

    3uestions, "") 'e=uired Pro5t, "!*Problems, ""* Combining $rea>Even Analysis (ith Demand, "!*Appendix )A: #he se of Calculus in Pricing and 1utput Decisions,"0!

    Degree of 1perating everage, "!*

    Appendix )$: $rea>Even Analysis HCost>Pro5t, "00 #he ses and imitations of Cost>Pro5t Analysis, ""!An Application: #he 'estaurant Industry, """.ummary, ""%Important Concepts, ""%3uestions, ""%Problems, ""&

    Chapter ). *ricing and +utput &ecisions -onopolisticCopetition and +ligopol%, #5'

    ). *ricing and +utput &ecisions -onopolistic Copetition and+ligopol%, ##'

    Introduction, "%* Introduction, ""*Monopolistic Competition, "&2 Monopolistic Competition, "02

    1ligopoly, "&! 1ligopoly, "0"Maret Concentration, "&! Pricing in an 1ligopolistic Maret: 'ivalry and Mutual Interdependence,

    "0&Pricing in an 1ligopolistic Maret: 'ivalry and MutualInterdependence, "&0

    Competing in Imperfectly Competitive Marets, "0*

    Competing in Imperfectly Competitive Marets, "&4 .trategy: #he undamental Challenge for irms in ImperfectCompetition, "%0

    ;onprice Competition, "&4 International Application: #he Maret or $eer, "&2Economic 1ptimi7ation and ;onprice Competition, "42 .ummary, "&!

    #he 'eality of Monopolistic Competition and 1ligopoly:?Imperfect@ Competition, "4/

    Important Concepts, "&!

    .trategy: #he undamental Challenge for irms in ImperfectCompetition, "4!

    3uestions, "&"

    Industrial 1rgani7ation, "4" Problems, "&0

    .trategy and the Ideas of Michael Porter, "4%Concluding 'emars on the inages bet(een ManagerialEconomics and .trategy, "44+lobal Application: #he 9orldLs Maret for $eer, "44.ummary, "4*Important Concepts, "4*3uestions, ")2

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    Table of Contents 6thEdition Table of Contents 5thEditionProblems, ")/

    Chapter 1. $pecial *ricing *ractices, #'" 1. $pecial *ricing *ractices, #6(Introduction, ")% Introduction, "&)Cartel Arrangements, ")% Cartel Arrangements, "&)Cases of Price ixing by Cartels, ")4 Price eadership, "4"Price eadership, ")* 'evenue Maximi7ation, "4%

    $arometric Price eadership, "*2 Price Discrimination, "44Dominant Price eadership, "*2 ;onmarginal Pricing, "))'evenue Maximi7ation, "*! Multiproduct Pricing, "*!Price Discrimination, "*" #ransfer Pricing, "*4#hird>Degree Discrimination, "*% 1ther Pricing Practices, "**Examples of Price Discrimination, "*) International Application, 022.ome 'ecent Examples of Price Discrimination Practices, "** .ummary, 02"Pricing in the otel Industry: Example of Price Discrimination, 02/ Important Concepts, 020#ying Arrangements: A Possible Extension of Price Discrimination, 02! 3uestions, 020

    .ocial 9elfare Implications of Price Discrimination, 020 Problems, 02%;onmarginal Pricing, 020Cost>Plus Pricing, 02%

    Incremental Pricing and Costing Analysis, 02)Multiproduct Pricing, 02)

    Products Complementary in Demand, 02*Products .ubstitutable in Demand, 0/2

    oint Products (ith ixed Proportions, 0//oint Products in

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    Table of Contents 6thEdition Table of Contents 5thEditionA .elected .ample of +ames of Particular 'elevance in Economics,0!4

    A .elected .ample of +ames of Particular 'elevance in Economics, 0//

    PrisonersL Dilemma, 0!4 +ame #heory and Auctions, 0/)$each ios +ame, 0"2 .trategy and +ame #heory, 0!2

    'epeated +ames, 0"/ Asymmetric Information, 0!%.e=uential +ames and irst Mover Advantage, 0"/ Marets (ith Asymmetric Information, 0!&

    +ame #heory and Auctions, 0"" Maret 'esponses to Asymmetric Information, 0!).trategy and +ame #heory, 0"% 'eputation, 0!)

    Commitment, 0"& .tandardi7ation, 0!*Incentives, 0") Maret .ignaling, 0!*A +eneral rame(or, 0"* A inal Example: #(o $aning .ystems as 'esponses to Information

    Asymmetries, 0"/Asymmetric Information, 002 .ummary, 0"0Marets (ith Asymmetric Information, 002 Important Concepts, 0"%Example: Adverse .election6#he Maret for emons, 00/ 3uestions, 0"%Example: Moral a7ard6Insurance, 00! Problem, 0"&Maret 'esponses to Asymmetric Information, 00!

    'eputation, 00"Example: 'eputation in e$ay Auctions, 00".tandardi7ation, 00"

    Maret .ignaling, 000Example: Education as a .ignal in abor Marets, 000

    Example: +uarantees and 9arranties, 00%A inal Example: #(o $aning .ystems as 'esponses toInformation Asymmetries, 00%

    .ummary, 00)Important Concepts, 00)

    3uestions, 00*Problem, 00*

    Chapter 12. Capital 0udgeting and is, "5 12. Capital 0udgeting and is, "#(Introduction, 0%/ Introduction, 0"*#he Capital $udgeting Decision, 0%! #he Capital $udgeting Decision, 0"*#ypes of Capital $udgeting Decisions, 0%! #ime

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    Table of Contents 6thEdition Table of Contents 5thEdition#ypes of Cash lo(s, 0&2 Capital $udgeting nder Conditions of 'is, 0&2

    Cost of Capital, 0&/ #(o 1ther Methods for Incorporating 'is, 0&/Debt, 0&! .ensitivity and .cenario Analysis, 0&"

    E=uity, 0&! .imulation, 0&0#he 9eighted Cost of Capital, 0&0 Decision #rees, 0&%

    #he Capital $udgeting Model, 0&0 'eal 1ptions in Capital $udgeting, 0&&

    Capital 'ationing, 0&& International Application: Political 'is, 0&)'is versus ncertainty, 0&& .ummary, 040.ources of $usiness 'is, 0&4 Important Concepts, 04%#he Measures of 'is, 0&4 3uestions, 04&

    Expected

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    Table of Contents 6thEdition Table of Contents 5thEditionAntiglobali7ation Arguments, %2/ Antiglobali7ation Arguments, 0*2+lobali7ation and the uture, %2! +lobali7ation and the uture, 0*2'iss aced by a Multinational Corporation, %20 'iss aced by a Multinational Corporation, 0*!

    Exchange 'ates, %2% Exchange 'ates, 0*"Exchange 'ate edging, %2& Exchange 'ate edging, 0*01Bsetting #ransactions, %2& oreign Direct Investment, 0*&

    #he or(ard Maret, %2& Multinational Capital $udgeting, 0*he utures Maret, %2& #he 'epositioning of unds, 0*)Currency 1ptions, %2& Multinational #ransfer Pricing, 0**

    Currency .(aps, %24 International Application:?rom ere to the Moon in .ix Months@, %2!oreign Direct Investment, %24 .ummary, %2&Multinational Capital $udgeting, %2) Important Concepts, %24Intercompany und lo(s, %2) 3uestions, %24InNation 'ates, %2) Problems, %2)

    Exchange 'ates, %2)#ax DiBerences, %2*

    DiBerences in Cash lo(s, %2*Cost of Capital, %2*#he inal Proect

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    Table of Contents 6thEdition Table of Contents 5thEditionags, %!* Important Concepts, %"/Doing $usiness (ith the -.- +overnment, %!* 3uestions, %"/

    #he +overnment Maret, %"2#he +overnment and the Maret Economy, %"!

    +overnment Deregulation, Mergers, and Ac=uisitions, %"09hy irms Merge, %"%

    +lobal Application: #he ailed Attempt to Merge by +eneralElectric and oney(ell, %"*.ummary, %02Important Concepts, %0/

    3uestions, %0/

    Chapter 15. -anagerial Econoics in /ction The Case of theefreshent 0e4erage Industr%, 5"2

    15. -anagerial Econoics in /ction The Case of the$eiconductor Industr%, 5#2

    Introduction, %0" Introduction, %"!Economic 1vervie( of the Industry, %00 Industry $acground, %"0Industry #rends, %00 Industry Analysis, %"4

    Analysis of the 'efreshment $everage Industry, %%! Managerial Decision Maing in Action, %0"Carbonated .oft Drins HC.Ds, %%! 3uestion for urther .tudy, %0&$ottled 9ater, %%" A- .tatistical and inancial #ables, %04Manufacturing and Distribution, %%% InsiderontCover, rontCover

    Competition, %%& Introduction to Interactive .preadsheet Modules, rontCoverConsumer Demand, %%4 +etting .tarted (ith Interactive .preadsheet Modules, rontCover.ummary, %&! Prentice all, Inside$acCover3uestions for urther .tudy, %&! Index, I>/>/Appendix /%A: Intervie( (ith ey $everage Industry Executives, %&0Appendix A- .tatistical and inancial #ables, %4/

    Index, %)&Introduction to Interactive .preadsheet Modules, EP>/+etting .tarted (ith Interactive .preadsheet Modules, EP>/

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  • 8/11/2019 Keat and Young Editions 4 5 6 Comparison

    12/12

    eat O oung #able of Contents 0thEdition

    1. Introduction.

    2. The Firm and Its Goals.

    3. Supply and Demand.

    4. Demand Elasticity.

    5. Demand Estimation.

    6. Forecastin.

    !. The Theory and Estimation o" #roduction.

    $. The Theory and Estimation o" %ost.

    &. #ricin and 'utput Decisions( #er"ect %ompetition and )onopoly.

    1*. #ricin and 'utput Decisions( )onopolistic %ompetition and 'liopoly.

    11. Special #ricin #ractices.

    12. Economic Decision )a+in in the 21st %entury( The ,'ld- Economics o" the ,e/ Economy.-

    13. %apital 0udetin.

    14. is+ and ncertainty.

    15. Goernment and Industry( %hallenes and 'pportunities "or Todays )anaers.

    16. )anaerial Economics in ction( The %ase o" the Semiconductor Industry.

    Page 12of 12