Introduction to Managerial Economics

Considered as Economics applied to "Problem of Choice".

• Applied Economics

• Managerial Economics

• Business Economics

• Decision Making

It helps in covering the gap between the problems of logic and the problems of policy

• Applied Economics

• Managerial Economics

• Business Economics

• Decision Making

The field in applied economics in which quantitative methods and economic theory to analyze business enterprises

• Micro Economics

• Macro Economics

• Business Economics

• Scarcity

The field of economics that deals with the economic concepts and analysis of problems that are required to formulate rational managerial decisions

• Positive Economics

• Normative Economics

• Macro Economics

• Managerial Economics

The most important function in managerial economics

• Application of theory and concept

• Decision making

• Data Gathering

• Economic Analyzation

It studies the actions of individual consumers and firms

• Microeconomics

• Macroeconomics

• Consumer demand

• Supply of goods

The study of aggregate income and expenditures and the Per Capita income of one country

• Micro Economics

• Macro Economics

• Capital Management

• Government Budget

This concept is very useful in explaining what is happening in the market and economy

• Demand Analysis and Forecasting

• Demand and Supply

• Law of Demand

• Law of Supply

The art of predicting demand for products or services at some future time

• Demand Analysis

• Demand Forecasting

• Quantitative method

• Qualitative method

Characteristics of Managerial Economics that concerned with what management should do under particular circumstances

• Normative economics

• Positive Economics

• Profit Management

• Capital Management