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Type of bind: Hardcover
Dewey Decimal Number: 658
EAN num: 9780072828092
ISBN number: 0072828099
Label: McGraw-Hill/Irwin
Manufacturer: McGraw-Hill/Irwin
Quantity: 1
Page Count: 704
Printing Date: August 15, 2003
Publishing house: McGraw-Hill/Irwin
Sale Popularity Level: 421865
Studio: McGraw-Hill/Irwin
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Product Description:
Brickley/Smith/Zimmerman's new approach to managerial economics takes models from recent economics research and applies this research to the internal structure of the firm. After teaching basic applied economics, the authors look inside the firm and apply this analysis to management decision making.
The general model used for this application is organizational architecture. Organizational architecture consists of three aspects of corporate organization: the assignment of decision rights within the company; methods of rewarding individuals; and the structure of systems to evaluate the performance of both individuals and business units. These three components can be likened to a stool with three legs. If one of the legs is shorter, the stool is out of balance. These three elements must be in balance in an organization as well.
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Rated by buyers 
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Rarely do I feel inspired to write about technical books, or my graduate school textbooks, but this one is so good that I just can't resist.
This book is all about the quality of the content rather than the flashiness of the typeset. Colors are few on these pages, but the instructional quality in the text is really superb. When I read this book, I feel like I'm getting a real, fundamental analysis of what a firm really is, and why the basic principles of microeconomics are so important and robust. Mathematical content is relatively thin (though not absent) in this book, the authors favoring a visual, conceptual approach to this highly technical topic. It works beautifully, especially for those of us who want to understand the concept of the firm but come from non-technical backgrounds. Potential readers should not get the idea that all this means that the book is "dumbed down" in any way. The three authors, all distinguished economists at the University of Rochester, maintain the highest standards of intellectual rigor. Chapter 3 is the most lucid summary of essential economic theory I have ever read. But keep in mind that this is a textbook, intended for student use. It is NOT a penetrating analysis of the leading edge of research in economic theory.
The whole thing comes off a bit like a "philosophy of the firm," with abundant historical context, modern minicases, and lucid behavioral insights. I waited almost two years in my MBA program to come across this one, and my confidence in the academic business literature is restored!
As you know and expect, this book is hideously expensive. It's worth the cost, but if you can find a way to buy it used or at a discount... But, by all means, get the latest edition. Books like this go out of date rapidly.
Rated by buyers -
This book is very easy to follow and gets straight to the point. It has allow me to develop a very good understanding of how organizational makeup can impact the progress of an organization and its stakeholders.
Rated by buyers -
I'm a consultant and this book is quite good in order to improve my performance during my job.
Rated by buyers -
This book has two real aspects.
First is is a good general introduction to economics that might be used at the upper undergraduate or MBA level. Note the title says that it is 'Managerial Economics.' This book is aimed at the student following a management track rather than a professional economics track. The concept of the book is to give an overview of all aspects of economic theory without a heavy concentration in any one particular area.
Second, this is the fourth edition of the book. This was made necessary because of the great changes that have occurred as a result of Enron, Arthur Anderson and the other companies that collectively made great changes in the business environment. One such change is the Sarbanes-Oxley Act of 2002, discussed at length here even though it is still too new to realize its full implications.
The case studies that are included reflect these new times: Arthur Anderson, Barings Bank, Interwest Healthcare, Property Right Security in Russian Deprivatization, eBay.com, iTunes, Wal-Mart.com and others that could come directly off of today's headlines.
This is a new and up-to-date edition of a well received book.
Rated by buyers -
I just finished a Managerial Economics MBA course that used this text. I found it to be very well written compared to textbooks I've read for other classes. I think it does a good job explaining supply and demand, intro to pricing, and intro to strategy and game theory. Examples are used to improve the reader's "economic" intuition. I talked to a friend who just finished a differnt MBA program who used this book. He recommended the book and especially liked the strategy segments and the prisoner's dilema.
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