Managerial Economics provides a solid foundation of economic understanding for use in managerial decision making. One key feature of this market-leading text is its attempt to depict the firm as a cohesive, unified organization. A basic valuation model is constructed and used as the underlying economic model of the firm. Each topic in the text is then related to an element of the value maximization model. In this process, management is seen to involve an integration of all business functions. Managerial Economics is designed to present those aspects of economic theory and analysis that are most relevant to students of business administration in an intuitive calculus-based or non-calculus-based format, depending upon the preferences of the instructor. It has been used successfully in both undergraduate and graduate courses.