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Original Essays | September 15, 2014

Lois Leveen: IMG Forsooth Me Not: Shakespeare, Juliet, Her Nurse, and a Novel

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Executive Economics: Ten Tools for Business Decision Makers


Executive Economics: Ten Tools for Business Decision Makers Cover


Synopses & Reviews

Publisher Comments:

What do economists know that business executives find useful? Economics ought to be indispensable for business decision-makers because it deals with the issues executives face daily: what to pro duce, how and how much, at what price, how best to use resources (time, labor, capital), how to understand markets. Why, then, do managers often think that economists' theories are ivory-tower and impractical? Perhaps because most economics texts are mystifying, jargon-rid den, and written from every perspective except that of the line manager.

In Executive Economics: Ten Essential Tools for Managers, Shlomo Maital brings economics down to earth, back to the hard day-to-day decisions that executives have to make. He shows how all decisions can be organized around two key questions: What is it worth? What must I give up to get it? Answering these questions depends upon finding and maintaining the right relation in the "triangle of profit" — cost, price, and value.

Each of Executive Economics ten chapters focuses on one or more legs of the triangle of profit, defines a decision tool, and illustrates how it can be used to improve the quality of executive decisions. Drawing on recent examples from both Fortune 500 firms and smaller companies, Maital shows why economics main contribution is to deepen executives' understanding of the structure of their costs, and to explain why some of a business's highest expenses are those that never appear on a check stub or in a profit-and-loss statement.

Executive Economics is written for executives, about executives, and by an author who has both taught executives at MIT's Sloan School of Management for over a decade and served as a consultant to small and large businesses. It is must reading for executives who need simple, effective decision-making tools to give them an edge in today's competitive global economy.


Includes bibliographical references (p. 255-267) and index.

About the Author

Shlomo Maital lives and teaches in Israel, and has a seasonal appointment as Visiting Professor at MIT's Sloan School of Management. He is author of Minds, Money and Markets: Psychological Foundations of Economic Behavior (1982) and Economic Games People Play (1984).

Table of Contents


1. Cost, Value, Price: Three Pillars of Profit

2. Hidden Costs

3. Tradeoffs: Pain versus Gain

4. Do You Know Where Your Costs Are?

5. People, Knowledge, and/or Machines

6. From Volume to Variety

7. Racing Down the Learning Curve

8. Markets and Demand: How to Listen to Your Customer

9. Calculated Risks

10. Competing by Cooperating




Product Details

Maital, Shlomo
Free Press
New York :
Managerial economics
Economics - Microeconomics
Management - General
Series Volume:
map I-2150-B
Publication Date:
September 1994
Grade Level:
9.50x6.38x1.04 in. 1.06 lbs.
Age Level:

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Related Subjects

Business » General
Business » Human Resource Management
Business » Management
Business » Writing
History and Social Science » Economics » General

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