Economics of strategy

In today's global recession, strong management of firms and organizations are of the utmost importance. Best-selling "Economics of Strategy" focuses on the key economic concepts students must master in order to develop a sound business strategy. Bringing economic theory and strategic analysis to life in an engaging and uniquely modern way, Besanko et al. have collaborated for over 15 years to build an introductory business course that combines basic concepts from economic theory of the firm and industrial organization with ideas from modern strategy literature. The newly revised 5th edition offers more real-world applications to make materials studied in undergraduate Managerial Economics, Business Strategy, and Industrial Organization courses relevant. Armed with general principles, today's students - tomorrow's future managers - will be prepared to adjust their firms' business strategies to the demands of the ever-changing environment.

Introduction -- Strategy and Economics -- Part One -- Economic Foundations of Strategy -- Chapter 1. Basic Microeconomic Principles -- Chapter 2. Economies of Scale and Scope -- Chapter 3. Agency and Coordination -- Chapter 4. The Power of Principles -- An Historical Perspective -- Part Two -- Firm Boundaries -- Chapter 5. The Vertical Boundaries of the Firm -- Chapter 6. Organizing Vertical Boundaries: Vertical Integration and Its Alternatives -- Chapter 7. Diversification -- Part Three -- Market and Competitive Analysis -- Chapter 8. Competitors and Competition -- Chapter 9. Strategic Commitment -- Chapter 10. The Dynamics of Pricing Rivalry -- Chapter 11. Entry and Exit -- Chapter 12. Industry Analysis -- Part Four -- Strategic Position and Dynamics -- Chapter 13. Strategic Positioning for Competitive Advantage -- Chapter 14. Sustaining Competitive Advantage -- Chapter 15. The Origins of Competitive Advantage: Innovation, Evolution, and Environment -- Part Five -- Internal Organization -- Chapter 16. Performance Measurement and Incentives in Firms -- Chapter 17. Strategy and Structure -- Chapter 18. Environment, Power, and Culture.