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.
This book Useful for Management students.
1. Introduction to Managerial Economics
Section I Analysis of Human Behaviour as a Consumer
2. Consumer Behaviour
4. Choice Under Risk and Uncertainty
Section II Producer’s Behaviour
5. Theory of the Firm
6. Economics of Production
7. Cost of Production
Section III Market 1
8. Market Morphology
9. Different Forms of Market—Perfect Competition
11. Monopolistic Competition
Section IV Market 2
12. Game Theory
14. New Market Institutions
15. Economics of Information
Section V Application of Economics in Human Resource Management
16. Application of Economics in Human Resource Management
17. Principal–Agent Problem and Economic Incentive
Section VI Application of Economics in Marketing Management
18. Behavioural Theory of Consumer Behaviour
19. Forecasting Outline
20. Pricing and Advertising Strategies
Section VII Application of Economics in Financial Management
21. Financial Economics of Consumption and Investment
Section VIII Application of Economics in Strategy
22. Business Firm Strategy
23. Boundaries of Firm
24. Economic Regulation of Business