Term- I Course Title : Managerial Economics Course Credits : 3 Course Faculty : Prof. Animesh Singh Learning Objectives At the end of this course‚ the student should be able to: • develop a basic understanding of economics as an important tool for taking effective managerial decisions; • develop the concept of managerial economics and its applications; and • to apprise how managers need to understand
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Economics and Managerial Economics Economics may be defined as a branch of knowledge dealing with allocation of scarce resources among competing ends. Managerial Economics may be defined as application of eco for problem solving at corporate level. Factors affecting Managerial decision Often only pure logic does not contribute to decision making Human Factor Human behavioral considerations often influences a manager into compromising or moderation a decision which would otherwise have made
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Managerial Economics and Economics Managerial Economics has been described as economics applied to decision making. It may be viewed as a special branch of economics bridging the gulf between pure economic theory and managerial practice. Economics has two main divisions :- (i) Microeconomics and (ii) Macroeconomics. Microeconomics has been defined as that branch of economics where the unit of study is an individual or a firm. Macroeconomics‚ on the other hand‚ is aggregate in character and has
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|Managerial Economics | | | |UNIT -I | | | |[Pick the date]
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Title: Managerial Economics Instructor: Prof.Saina E-Mail: saina.b@sibm.edu.in‚sainabby@gmail.com Telephone No: 9972253101 Objectives: |The course provides a foundation to microeconomics and gives an understanding of the basic principles of microeconomics. It also | |explains analytical tools of economics used to understand business organizations and the dynamics of business. It deals with basic | |dynamics of the market through the analysis of the economics of consumption
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Strategies Definition Pricing is a powerful element of a small business’s marketing strategy. The pricing structure of your products and services‚ and how it relates to your competitors’ pricing strategies and the expectations of consumers‚ play an important role in creating an image for your company and establishing a specific customer base. An analysis of pricing strategy reveals that companies have a range of options in their pricing toolkit they can use to augment
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Managerial Economics Meaning: - Managerial Economics deals with money/income. It helps in decision making regarding sales‚ production‚ and profit. It is a branch of economics that applies microeconomics analysis to decision methods of businesses or other management units. Artha – Money/Income Shasthra – Body of Knowledge Economics – Body of knowledge which deals with the management of money. DEFINITIONS OF MANAGERIAL ECONOMICS • According to
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CHRISTIAN SERVICE UNIVERSITY COLLEGE DEPARTMENT OF BUSINESS STUDIES PRICING AND ITS EFFECTS ON CONSUMER BUYER BEHAVIOUR BY ISAAC OFORI MANU SHIRLEY ANNOR PRISCILLA ADJEI ERIC OFOLI ANANG MARY ABENA FORDJOUR JULY 2011 STATEMENT OF AUTHENTICITY We have read the university regulation relating to plagiarism and certify that this report is all our own work and do not contain any unacknowledged work from any other source. We also declare that we have been under supervision for this report herein
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Managerial economics as defined by Edwin Mansfield is "concerned with application of economic concepts and economic analysis to the problems of formulating rational managerial decision."[1] It is sometimes referred to as business economics and is a branch of economics that applies microeconomicanalysis to decision methods of businesses or other management units. As such‚ it bridges economic theory and economics in practice.[2] It draws heavily from quantitative techniques such as regression analysis and correlation
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Managerial economics as defined by Edwin Mansfield is "concerned with application of the economic concepts and economic analysis to the problems of formulating rational managerial decision."[1] It is sometimes referred to as business economics and is a branch of economics that appliesmicroeconomic analysis to decision methods of businesses or other management units. As such‚ it bridges economic theory and economics in practice.[2] It draws heavily from quantitative techniques such as regression analysis
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