This well-known book on the subject has stood the test of time for the last 40 years because of the quality of presentation of its text. It has become students' favourite as it provides the latest theories, thoughts and applications on the subject with timely revisions to stay up-to-date all the time. Since its first edition, it has provided complete, comprehensive and authentic text on micro and macro aspects of managerial economics. It has now been revised thoroughly with added interpretations of economic theories and concepts, and their application to managerial decisions.
Key Features
It covers all the microeconomic and macroeconomic theories along with their implications in managerial decision making in the real-world context of the firm, industry and national levels required by the postgraduate management and commerce curriculum.
• The book is lucidly written, complemented well with use of graphical and mathematical treatment at an appropriate depth so that the non-initiated readers will find the contents accessible and engaging. All mathematical relationships have been derived step by step, and all graphical representations have been analyzed appropriately.
• The text is profusely illustrated with examples, which will help the readers to understand and assimilate the theories and concepts in a sound manner.
• A rich suite of end-of-chapter exercises will help the reader to apply their learning and therefore reinforcement of conceptual clarity.
New in this Edition
The subject matter of the book is reorganised in VIII parts.
•Chapters 1 to 5 are rewritten emphasising the application of economic theories to business decisions.
• A new chapter, i.e. Demand Estimation and Forecasting (Chapter 9), is added.
• Chapters containing analysis of interrelated aspects of managerial economics are merged together.
Table of Content
PART I: INTRODUCTION
1 Nature and Scope of Managerial Economics
2 Objectives of Business Firms
3 Some Fundamental Concepts and Business Decision Rules
4 Some Mathematical Tools of Economic Analysis
5 Optimization Technique
PART II: THEORY OF CONSUMER DEMAND AND DEMAND FORECASTING
6 Analysis of Consumer Demand
7 Analysis of Market Demand
8 Elasticity of Demand and Its Application
9 Demand Estimation and Forecasting
PART III: THEORY OF PRODUCTION AND COST ANALYSIS
10 Theory of Production
11 Theory of Cost and Break-Even Analysis
12 Linear Programming
PART IV: MARKET STRUCTURE, PRICING THEORY AND PRACTICES
13 Market Structure and Market Mechanism
14 Price and Output Determination under Perfect Competition
15 Price and Output Determination under Monopoly
16 Price and Output Determination under Monopolistic Competition
17 Price and Output Determination under Oligopoly
18 Game Theory and Strategic Behaviour of Oligopoly Firms
19 Managerial Theories of Firm
20 Pricing Strategies and Practices of Firms
PART V: CAPITAL BUDGETING AND INVESTMENT DECISIONS
21 Capital Budgeting and Investment Decisions under Certainty
22 Investment Decisions under Risk and Uncertainty
PART VI: MACROECONOMIC ASPECTS OF MANAGERIAL ECONOMICS
23 Macroeconomics: Definition, Scope and Application
24 National Income: Concepts and Measurements
25 Theory of National Income Determination
26 Analysis of the Monetary Sector
27 Theories of Economic Growth and Business Cycles
28 Theories of Inflation and Control Measures
PART VII: GOVERNMENT ROLE IN THE ECONOMY AND ECONOMIC POLICIES
29 Government Role in the Market Economy
30 Monetary Policy
31 Fiscal Policy of India
32 Corporate Social Responsibility
PART VIII: SOME INTERNATIONAL ASPECTS: GLOBALIZATION AND BALANCE OF PAYMENTS
33 Impact of Globalization on Business Environment
34 The Balance of Payments: Assessment and Adjustment
• Index
Useful For
Primary Market: MBA
Secondary Market: MCom, BCom, BBA, CA
A definitive text for the latest syllabi of MBA, MCom, BBA, CA, ICWA and ICS.