The concept of Managerial Economics is extremely urgent and vital to the field of economics. Also, the idea is state-of-the-art, and it has been used widely in almost all types of businesses. It is one of the three major divisions of economics, which is also very essential for the consumers. Managerial Economics is very important for the procedure of decision-making for a company or any individual business. There can be many decisions such as cost decision, inventory decision, production decision, marketing decision, and strategies, etc. It takes care of all the significant aspects that are required and necessary for the growth and development of a business. It is incredibly beneficial as it renders vital sources that help in the enhancement of the company along with the maximization in its profit. The scope of the Managerial Economics is broad and open, and this division itself is significant for every business.
This book explores the core concepts of managerial economics and supplements them with relevant caselets, examples, and detailed case studies. Students will find the book highly useful for its coverage of key concepts of managerial economics. The revised edition aims to provide an application-oriented focus to the subject.
This well-known book on the subject has stood the test of time for the last 35 years because of the quality of presentation of its text. It has become students’ favourite as it provides the latest theories, thoughts and applications on the subject with timely revisions to stay up-to-date all the time. Since its first edition, it has provided complete, comprehensive and authentic text on micro and macro aspects of managerial economics. It has now been revised thoroughly with added interpretations of economic theories and concepts and their application to managerial decisions. NEW IN THE EIGHTH EDITION • Summary at the end of each chapter for quick recap • One complete new chapter; several new sections Some New Important Sections • ‘Derivation of Demand Curve with Changing Marginal Utility of Money’, and ‘Why Demand Curve Slopes Downward to Right’ • ‘Expansion Path of Production’ and ‘Equilibrium of Multi-plant Monopoly’ • ‘Theory of Interest Rate Determination’ and ‘Monetary Sector Equilibrium’ • ‘Current Foreign Trade Policy of India’ and ‘Current Role of the IMF’ • ‘Monetary Policy’ and ‘Current Scenario of CSR in India’
Each year, thousands of businesses file for bankruptcy protection because managers fail to efficiently organize the company’s operations, misread market trends, pay inadequate attention to product quality, or misinterpret the activities and intentions of rival companies. Perhaps they fail to formulate optimal advertising or financing strategies, procure raw materials and components at least cost, or provide adequate incentives to motivate workers to put forth their best efforts. Managerial economics is the application of economic principles to topics of concern to managers. This textbook develops a framework for predicting managerial responses to changes in the business environment. It combines the various business disciplines with quantitative methods to identify optimal solutions to more efficiently achieve a firm’s organizational objectives. The topics discussed in this textbook are readily accessible to students with a background in the principles of microeconomics and business mathematics. The selection and organizations of topics makes the textbook appropriate for use in a wide range of curricula by students with different backgrounds.
Managerial Economics, also known as business economics or Applied Microeconomics, helps in dealing with business decisions and management units effectively. This book discusses the theories and applications of Managerial Economics with the help of its various quantitative techniques like operations research, mathematical programming, game theory for strategic decisions, and other computational methods. Divided into 8 sections and 24 chapters, the book shows how conveniently one can find a solution to the business problems, such as Risk analysis, Production analysis, Pricing, Budgeting, Sales promotion and so on with Managerial Economics tools. Section I analyses the economic behaviour of the consumers; Section II discusses producers’ behaviour and issues related to the production; Sections III, IV and V talk about markets and firms and their types. The concluding Sections VI, VII and VIII delve on the application part of Economics in human resource management, finance, marketing and strategy. The chapters are well-supported with the cases, figures and important facts. The book is equipped with pedagogical aids in the form of Summary, Glossary, Important Terms, Numerical Problems and Multiple Choice Questions. Intended for the postgraduate students of Management, the book will be equally beneficial for the practising Managers.
Release on | by Geetika,Piyali Ghosh,Purba Roy Chowdhury
Author: Geetika,Piyali Ghosh,Purba Roy Chowdhury
Pubpsher: McGraw-Hill Education
Managerial Economics, 3e, provides a detailed introduction of economic concepts to management students. It illustrates the technique of systematic problem solving and taking effective decisions by applying concepts of economics in different situations. With its unique integrative approach, this revised edition covers the recent developments in the interdisciplinary fields related to economics and business such as Demonetization, Jio case study, Patanjali, restriction on H1B visa, GST, Highlights of Budget 2017, and many more. Besides being a comprehensive textbook for management students, it will prove to be of great utility for the practising managers. Salient Features: What’s New? - Chapter 17: Externalities, Public Goods and Role of Government - 20 full-length cases, 22 caselets and 28 Reality Bites across relevant chapters Revamped chapters - Chapter 3: Consumer Preference and Choice - Chapter 4: Demand and Supply Analysis - Chapter 7: Cost and Revenue - Chapter 9: Financial Evaluation of Long-Term Projects Powered by: - Pedagogical features such asThink Out of the Box, Remember Box Questions have been refreshed and added at appropriate places
Release on 1998-01-01 | by Arun Kumar,Rachana Sharma
Author: Arun Kumar,Rachana Sharma
Pubpsher: Atlantic Publishers & Dist
Planned As A Textbook On The Subject, This Book Covers The Syllabi Presented At Various Universities And Institutes In The Papers Entitled Managerial Economics Or Business Economics. In Presenting The Subject Matter, The Authors Have Everywhere Drawn From Indian Examples, Used Simple Language, Narrated Through Analytic Style, Using Central, Side And Running Headings, Utilised Latest Books On The Subject And Given, At The End Of Each Chapter, Questions For Exercise Actually Asked At University Examinations. Thus, No Stones Have Been Left Unturned To Make It An Ideal Book Needed On The Desk Of Every Serious Student Of The Subject.