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Full Description
This book encapsulates the changing dimensions of managerial behaviours through existing microeconomic theories. It throws light on the decision-making process of consumers to demonstrate the potential absorbing capacity of the firms' produce, with the aim of fulfilling their objectives while being socially sustainable.
The book elucidates how management, utilizing strategic planning tools, can maintain profitability in an ever-changing macroeconomic environment. The sectoral/market equilibrium analyses are done with reference to international trade and economic growth models. Key features include simple case studies and illustrations to facilitate an easy understanding of the theory, using basic mathematical tools, tables, and figures to illustrate the concepts intuitively. Additionally, chapter-end exercises are provided to assess students' comprehension of the subject matter, among other features.
Devised as a text for postgraduate students of Management, Commerce and Economics, this book would also be useful to undergraduate courses with Managerial Economics. Additionally, this book would be an invaluable companion to budding business managers and corporate leaders in different industries.
Contents
Foreword Preface 1. Conceptual Notes on Mainstream Economics and Managerial Economics 2. Theory of Consumer Behaviour 3. Functional Analysis of Demand 4. Demand Forecasting 5. Theories of Production and Cost 6. Perfect Competition 7. Monopoly 8. Other Forms of Imperfect Competition 9. Pricing of Land and Labour 10. Determination of Prices of Capital and Entrepreneur 11. Market Failure: Public Goods and Externalities 12. Economics of Information 13. General Equilibrium Model 14. Models of International Exchange 15. National Income Accounting and Equilibrium Analysis 16. Theories of Money Supply, Inflation and Unemployment 17. Theories of Economic Growth-Classical, Harrod-Domar and Neoclassical
