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Full Description
A textbook that sharpens the core decision-making skills of budding managers by using the concepts, logics and principles of microeconomics with suitable examples from 'India Inc.'.
A thorough understanding of economics is an essential requirement for managers across all industries. The much-required second edition of Managerial Economics will be an incomparable guide for students of management with little or no understanding of economic principles. The text puts a strong emphasis on understanding the fundamental theories and concepts as well as their application in real-life business scenarios using India-centric examples.
Entirely updated and revamped according to the changing pedagogical demands, the new edition contains the latest approaches to the teaching of managerial economics. It includes insight from the authors' international teaching background as well as their intimate understanding of the needs of Indian students.
Key Features:
• Well-organized chapters and segregated mathematical explanations that can be easily used in the courses with different requirements of complexity
• Incorporates caselets and activities for the practical understanding of the topics discussed
• Simple and engaging conversational style that makes complex topics accessible to beginners with no background in economics
Contents
Foreword
To Our Fellow Teachers and Dear Students: Setting Norms
Introduction
Demand, Supply and Price Determination
Elasticity of Demand and Supply: Measuring Magnitude of Response
Consumer Behaviour
Applications of Consumer Theory
Data Analysis, Estimation and Forecasting
Firm Behaviour: Output, Costs and Revenues
Profit Maximization, Perfect Competition and the Supply Curve
Market Efficiency, Failure and Corrective Measures
Monopoly with an Introduction to Imperfect Markets
Monopolistic Competition and Oligopoly
An Introduction to Portfolio Choice and Asset Markets
Factor Markets
Turning Global
Appendix
Partial Answers to Select Questions
Bibliography
Index
