Book Review: Richard B. McKenzie and Dwight R. Lee, Microeconomics for MBAs. The Economic Way of Thinking for Managers, Cambridge University Press, Cambridge, 2006. 689 p. GBP 45.00 (USD 80.00) (ISBN 0 521 859816 HB)

Springer 2007

De Economist (2007) 155:243244

DOI 10.1007/s10645-007-9059-9

BOOK REVIEW

Richard B. McKenzie and Dwight R. Lee, Microeconomics for MBAs. The Economic Way of Thinking for Managers, Cambridge University Press, Cambridge, 2006. 689 p. GBP 45.00 (USD 80.00) (ISBN 0 521 859816 HB)

In order to fully appreciate this book you might have to be part of the target group mentioned in its title, but if you are, this textbook is likely to secure a special place on your shelf. Whether you are an economist with interests in management or a manager interested in the microeconomic foundations of business, McKenzie and Lee succeed to combine both poles into what they call the economic way of thinking for managers. Their approach is as simple as it is compelling. As most economics professors lack the hands-on experience to teach the doing of business, the authors of this book focus on the development of methods to think through typical business problems in a more abstract, albeit accessible and practical way. The book not only convinces the...