Managerial Economics
Contents: Preface. I. Introduction to managerial economics: 1. Managerial economics. 2. Economic behaviour. II. The theory of demand and supply: 3. Analysis of demand theory. 4. Elasticity of demand. 5. Supply analysis. 6. Marginal utility analysis (Cardinal utility approach). 7. Indifference curve analysis. 8. Applications of indifference curve analysis. 9. Income effect and income consumption curve. 10. Price effect and priced consumption curve. 11. Substitution effect. 12. Revealed preference theory of demand. 13. Demand forecasting. III. Theory of production and costs: 14. Theory of production. 15. Economies of scale. 16. The theory of costs. 17. Modern theory of costs. IV. Market structure and pricing policies: 18. Market and market structure. 19. Perfect competition. 20. Price determination under perfect competitive. 21. Price and output under monopoly. 22. Price discrimination. 23. Pricing under monopolistic competition. 24. Pricing under oligopoly. 25. Price policy and practices. Index.
Managerial Economics, a fundamental part of any business or management course, offers a comprehensive application of economic theory and methodology to managerial decision making. It has assumed a predominant role in today’s globalized economy because of financial implications of many decisions that a manager has to take in his day-to-day professional life. In developing an economic approach to business decisions, this book draws upon economic analysis for the theory of demand, theory of production and costs, market and market structure, price policies and control, and so on, that are important for taking business decisions.
The various concepts have been presented in a simple and crisp manner to help the students with different levels of understanding to go deep into the intricacies of the subject. Adequate number of diagrams, charts and tables have been give to keep the text easily understandable. Mathematical presentation has also been used, wherever needed, to strengthen the clarity and analytical rigour.
The whole text is divided into 25 informative and comprehensive chapters grouped into IV distinctive sections. Each chapter ends with review questions which can be used for tutorials or group discussions.
Managerial Economics, a fundamental part of any business or management course, offers a comprehensive application of economic theory and methodology to managerial decision making. It has assumed a predominant role in today’s globalized economy because of financial implications of many decisions that a manager has to take in his day-to-day professional life. In developing an economic approach to business decisions, this book draws upon economic analysis for the theory of demand, theory of production and costs, market and market structure, price policies and control, and so on, that are important for taking business decisions.
The various concepts have been presented in a simple and crisp manner to help the students with different levels of understanding to go deep into the intricacies of the subject. Adequate number of diagrams, charts and tables have been give to keep the text easily understandable. Mathematical presentation has also been used, wherever needed, to strengthen the clarity and analytical rigour.
The whole text is divided into 25 informative and comprehensive chapters grouped into IV distinctive sections. Each chapter ends with review questions which can be used for tutorials or group discussions.
