Richard B. McKenzie is the Walter B. Gerken Professor of Enterprise and Society Emeritus in the Paul Merage School of Business at the University of California, Irvine. D. Eric Schansberg is Professor of Economics at Indiana University Southeast. Dwight R. Lee is a professor emeritus at the University of Georgia and the former J. O'Neil Endowed Chair of Global Markets and Freedom and Scholar in Residence at Southern Methodist University.

• Preface for teachers; Preface for students; Video lectures and suggested uses; Book I. The Market Economy, Overview and Applications: 1. Microeconomics: a way of thinking about business; 2. Principles of rational behavior in society and business; 3. Competitive product markets and firm decisions; 4. Consumer choice and demand in traditional and network markets; Book II. Producer Theory: 5. Applications of demand and supply to government and management policies; 6. Principles of political economy for public policy and business; Book III. Theory of the Firm, Production, and Costs: 7. Production, costs, and the theory of the firm; 8. Production costs in the short run and long run; Book IV. Competitive and Monopoly Market Structures: 9. Firm production under idealised competitive conditions; 10. Monopoly power and firm pricing decisions; 11. Firm strategy under imperfectly competitive market conditions; 12. Competitive and monopsonistic labor markets; Select bibliography; Index.

'This tome fills a niche and is written by leaders and experts in the field. It prepares students to become competent, efficient partners in the decision-making of organizations. The book is rich in public policy and managerial applications. The knowledge it imparts will benefit those who seek greater insight into budgeting, pricing strategies, and the gaining of competitive advantage.' Walter G. Park, American University

Richard B. McKenzie is the Walter B. Gerken Professor of Enterprise and Society Emeritus in the Paul Merage School of Business at the University of California, Irvine. D. Eric Schansberg is Professor of Economics at Indiana University Southeast. Dwight R. Lee is a professor emeritus at the University of Georgia and the former J. O'Neil Endowed Chair of Global Markets and Freedom and Scholar in Residence at Southern Methodist University.

• Preface for teachers; Preface for students; Video lectures and suggested uses; Book I. The Market Economy, Overview and Applications: 1. Microeconomics: a way of thinking about business; 2. Principles of rational behavior in society and business; 3. Competitive product markets and firm decisions; 4. Consumer choice and demand in traditional and network markets; Book II. Producer Theory: 5. Applications of demand and supply to government and management policies; 6. Principles of political economy for public policy and business; Book III. Theory of the Firm, Production, and Costs: 7. Production, costs, and the theory of the firm; 8. Production costs in the short run and long run; Book IV. Competitive and Monopoly Market Structures: 9. Firm production under idealised competitive conditions; 10. Monopoly power and firm pricing decisions; 11. Firm strategy under imperfectly competitive market conditions; 12. Competitive and monopsonistic labor markets; Select bibliography; Index.

'This tome fills a niche and is written by leaders and experts in the field. It prepares students to become competent, efficient partners in the decision-making of organizations. The book is rich in public policy and managerial applications. The knowledge it imparts will benefit those who seek greater insight into budgeting, pricing strategies, and the gaining of competitive advantage.' Walter G. Park, American University

Richard B. McKenzie is the Walter B. Gerken Professor of Enterprise and Society Emeritus in the Paul Merage School of Business at the University of California, Irvine. D. Eric Schansberg is Professor of Economics at Indiana University Southeast. Dwight R. Lee is a professor emeritus at the University of Georgia and the former J. O'Neil Endowed Chair of Global Markets and Freedom and Scholar in Residence at Southern Methodist University.

• Preface for teachers; Preface for students; Video lectures and suggested uses; Book I. The Market Economy, Overview and Applications: 1. Microeconomics: a way of thinking about business; 2. Principles of rational behavior in society and business; 3. Competitive product markets and firm decisions; 4. Consumer choice and demand in traditional and network markets; Book II. Producer Theory: 5. Applications of demand and supply to government and management policies; 6. Principles of political economy for public policy and business; Book III. Theory of the Firm, Production, and Costs: 7. Production, costs, and the theory of the firm; 8. Production costs in the short run and long run; Book IV. Competitive and Monopoly Market Structures: 9. Firm production under idealised competitive conditions; 10. Monopoly power and firm pricing decisions; 11. Firm strategy under imperfectly competitive market conditions; 12. Competitive and monopsonistic labor markets; Select bibliography; Index.

'This tome fills a niche and is written by leaders and experts in the field. It prepares students to become competent, efficient partners in the decision-making of organizations. The book is rich in public policy and managerial applications. The knowledge it imparts will benefit those who seek greater insight into budgeting, pricing strategies, and the gaining of competitive advantage.' Walter G. Park, American University