Managerial economics is the application of economic theory and quantitative methods (mathematics and statistics) to the managerial decision-making process. This book contains a chapter on game theory and on the time value of money and capital budgeting. It is intended for students with limited prior training in economics and quantitative methods.
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Thomas J. Webster is a professor in the department of finance and economics at the Lubin School of Business of Pace University in New York City. Before joining the faculty of the Lubin School of Business, Professor Webster held positions as international economist with a New York based money-center commercial bank and with the federal government in Washington, DC. In addition to his teaching duties at the Lubin School, Professor Webster has served as both graduate and undergraduate finance program chair, and faculty advisor for Beta Gamma Sigma, the international honor society for collegiate schools of business accredited by AACSB International: The Association to Advance Collegiate Schools of Business. Professor Webster is a recipient of the Lubin School of Business Scholarly Research Award for Basic Research, the Lubin School of Business Outstanding Faculty Service Award, the Pace Unviersity Award for Distinguished Service, and the Beta Gamma Sigma Commitment to Excellence Award. Professor Webster received his B.A. from the School of International Service of The American University in Washington, DC, and his M.A. and M.Phil. and Ph.D. from The City University of New York.
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