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Managerial Economics has assumed a predominant role in today's
globalized and liberalized economy because of the financial
implications of many decisions that a manager has to take in his
day-to-day professional life. This comprehensive and
student-friendly book strives to equip the young, practising and
budding managers to find solutions to the real-world problems
through the efficient and effective use of economic tools and
techniques. The authors who admirably combine academic and
professional experience give a clear and straightforward analysis
of the various topics in managerial economics. The text begins with
an overview of managerial economics and describes the modern
business firm and its objectives along with the concepts of market
mechanism, demand theory and production analysis. The text then
moves further to explain managerial techniques, macroeconomic
theory and international trade and finance along with the risks and
uncertainties involved in business. Besides, it also explains the
cost and revenue, supply, pricing, profit and investment analyses.
Finally, this book discusses some important Case Studies to
reinforce the concepts presented in the text. The third edition of
the book comprises multiple choice questions (with answers) at the
end of each chapter to test the understanding of the concepts
discussed in the chapter. Besides, the objectives, strategies and
initiatives of the twelfth five year plan (2012-2017) of Planning
Commission as well as a new section on Replacement of Indian
Planning Commission with NITI Aayog have been incorporated in the
chapter on Macroeconomic Analysis. Intended as a text for
postgraduate students of Management, Commerce and Economics, the
book would also be useful for undergraduate engineering courses
where Managerial Economics is offered. Finally, the book can be
profitably used by marketing and management consultants, business
executives and other related professionals. Key Features Includes
several simple, numerical examples with solutions for easy
understanding of theory. Contains a large number of tables and
figures to illustrate the concepts. Provides chapter-end exercises
to check students' comprehension of the subject.
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