Dr. Luke M. Froeb received his undergraduate degree from Stanford University and Ph.D. from the University of Wisconsin. When the antitrust agencies began using his models to predict the competitive effects of mergers, his academic research passed what he calls "a market test." This resulted in his 2003 appointment as chief economist of the Federal Trade Commission, where he enforced the antitrust and consumer protection laws of the United States (U.S.). He also managed 75 economists who tore down barriers to competition (often erected by well-meaning bureaucrats). In July 2005, Dr. Froeb returned to Vanderbilt University where he has spent the last 20 years teaching students to move assets to higher-valued uses. He used to win Vanderbilt's "Most Outstanding Teacher" award, but not since he recruited Dr. Brian McCann. This text, "Managerial Economics: A Problem Solving Approach," shows students how to use economics to solve business problems. It contains real-world problems (and solutions) drawn directly from Dr. Froeb's executive students. Dr. Froeb has taught at Tulane University and served as chief economist at both U.S. Competition Agencies: The Federal Trade Commission and the U.S. Department of Justice.