In todays global recession, strong management of firms and organizations are of the utmost importance. Economics of Strategy focuses on the key economic concepts students must master in order to develop a sound business strategy. The text also brings economic theory and strategic analysis to life in an engaging and uniquely modern way. Besanko, Dranove, Shanley, and Schaefer 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. Ideal for undergraduate managerial economics and business strategy courses, Economics of Strategy offers real-world applications to make these courses more relevant. Armed with general principles, todays students--tomorrows future managers--will be prepared to adjust their firms business strategies to the demands of the ever-changing environment