MICROECONOMICS FOR MBAS

Frank Knight was a wise professor. Through long years of teaching he realized that students, even those in advanced business programs, beginning a study of economics, no matter the level, face a difficult task. They must learn many things in a rigorous manner that, on reflection and with experience, amount to common sense. To do that, however, they must set aside —or “unlearn”—many pre-conceived notions of the economy and of the course itself. The problem of “unlearning” can be especially acute for MBA students who are returning to a university after years of experience in industry. People in business rightfully focus their attention on the immediate demands of their jobs and evaluate their firms’ successes and failures with reference to production schedules and accounting statements, a perspective that stands in stark contrast to the perspective developed in an economics class.

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Autor: Frank H. Knight

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