Customer Reviews

Student's Companion to Microeconomics for Managers

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1 star:		(1)

 

 

I'm writing this for instructors . Ignore the 1 star review. There is no better , non-calculus based, undergraduate book on modern micro theory (except perhaps Milgrom and Roberts Economics Organization and Management ) that gets across both the basic ideas and nuanced ideas coming out of modern micro economics about risk, information , uncertainty and modern transactions costs reasoning . And if you teach a course in micro theory using calculus then still get your students to read kreps so they don't become mesmirized or overwhelmed with the mathematics of this material instead of grasping the deep conceptual logic underlying modern micro theory of imperfect and incomplete in formation - warts and all. Believe me, I've taught micro theory and game theory at various undergrad levels for almost 30 years) . Start reading this book at Ch 23, on credibility and reputations. Then get your students reading from ch 15 on. Enjoy

While the author is a well respected economist, this book is amazingly bad! It does a very poor job explaining the concepts and while people in my MBA class who were proficient in Economics simply avoided it, it made the Microeconomics core class a nightmare for those with no prior background. In my class of 60, everyone disliked it. Don't buy it unless you absolutely have to! Expect long paragraphs of plain text, a very small number of black and white graphs and strange and irrelevant examples which are more confusing rather than helpful.

As a fun piece of trivia, I have to mention that in the Introduction the author mentions that this ridiculous textbook was developed based on him teaching Stanford MBAs and thus it may not be intellectually suitable for programs where people come from poorer caliber. Well, I doubt that many schools use it anyway!