Current Concepts In Managerial Economics

by Darpan Verma

Overview

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 of businesses or other management units. As such, it bridges economic theory and economics in practice. It draws heavily from quantitative techniques such as regression analysis, correlation and calculus. If there is a unifying theme that runs through most of managerial economics, it is the attempt to optimize business decisions given the firm’s objectives and given constraints imposed by scarcity, for example through the use of operations research, mathematical programming, game theory for strategic decisions, and other computational methods. This innovative textbook will help students develop and sharpen their economic intuition"an invaluable skill that helps students, as future managers, decide which products to produce, costs to consider, and prices to charge, as well as the best hiring policy and the most effective style of organization. With its unique integrative approach, the text presents the firm as a cohesive, unified organization and demonstrates that important business decisions are interdisciplinary.

Product Details

ISBN-13:	9789388040228
Publisher:	Arts & Science Academic Publishing
Publication date:	06/30/2015
Sold by:	Barnes & Noble
Format:	eBook
Pages:	302
File size:	847 KB

About the Author

Darpan Verma is Consultant of Sunrise Learning, Inc. He has over 15 years of experience in the field of Human Resources and Organizational Development. His consulting firm provides human resources and organizational development consulting services primarily to the not-for-profit industry. Useful models with proven track records are specifically tailored to individual client needs and situations. From process consultation and facilitation services for strategic planning, organizational effectiveness initiatives, team development, or managing change; to skill building in best practices for leadership and management development programs; to human resource planning and development aligning human systems to organizational goals: the tools and applied models utilized help organizations and individuals achieve more clarity, work more effectively, and perform more efficiently.