Managerial economics is the "application of the economic concepts and economic analysis to the problems of formulating rational managerial decisions". It is sometimes referred to as business economics and is a branch of economics that applies microeconomic analysis to decision methods...
Managerial economics to a certain degree is prescriptive in nature as it suggests course of action to a managerial problem.
Managerial economics is a discipline that combines economic theory with managerial practice. It helps in covering the gap between the problems of logic and the problems of policy.
KEY CONCEPTS managerial economics microeconomics macroeconomics economic model marginal value.
Managerial Economics and Operations Research: Techniques, Applications, Cases. 5th ed. New York: W. W. Norton & Co., 1987.
Managerial Economics refers to the application of economic theory and the tools of decision science to examine how an organisation can achieve its aims or objectives most...
The purpose of managerial economics is to provide economic terminology and reasoning for the improvement of managerial decisions.
Contents iii. 28 Managerial economics. A reminder of your learning
Managerial Economics can be defined as amalgamation of economic theory with business practices so as to ease decision-making and future planning by management.
Keywords Business Managers; Capital Budgeting; Demand Theory; Managerial Economics; Pricing Analysis; Theory of the Firm.