Managerial Economics

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Managerial economics is often said to help the business student integrate the knowledge gained in other courses. How is this integration accomplished?

Best Answer

Integrating the knowledge from other courses? It's just another way of saying that you don't learn anything special in managerial economics. Ask yourself, when was the last time that an employer put up an ad asking for students of managerial economics? They don't. They ask for students of accounting, finance, and CIS.

relationship of managerial economics to human resource management

Best Answer

no relationship

It has to be a current issue, related to managerial economics and easy to get information on, (10-page paper). Credible and reliable sources must be used. Thank you.

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Should the IRS outsource customer service calls to India.

explain the managerial economics

Best Answer

Managerial economics (also called business economics), is a branch of economics that applies microeconomic analysis to specific business decisions. As such, it bridges economic theory and economics in practice. It draws heavily from quantitative techniques such as regression and correlation, Lagrangian calculus, linear programming, decision theory, and game theory. It is similar to operations research in this regard, and indeed uses operations research techniques. 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. Almost any business decision can be analysed with managerial economics techniques, but it is most commonly applied to: * Demand estimation - statistical techniques such as regression analysis are used to determine the level of demand for a product, service, or brand. * Risk analysis - various uncertainty models, decision rules, and risk quantification techniques are used to assess the riskiness of a decision. * Production analysis - microeconomic techniques are used to analyse production efficiency, optimum factor allocation, costs, economies of scale and to estimate the firm's cost function. * Pricing analysis - microeconomic techniques are used to analyse various pricing decisions including transfer pricing, joint product pricing, price discrimination, price elasticity estimations, and choosing the optimum pricing method. * Capital budgeting - Investment theory is used to examine a firm's capital purchasing decisions. At universities, the subject is taught primarily to advanced undergrads. It is approached as an integration subject. That is, it integrates many concepts from a wide variety of prerequisite courses.

I have a Managerial Economics in a Global Economy with Economic Applications Card. Its the 5th edition, brand new book without shrink wrap. has one scratch on the cover about an inch long but otherwise in excellent condition. tell me if you are interested. Im currently selling it on Amazon for $47.00. my seller name is esarcone03 price is $47.00

Best Answer

I don't need it, but will ask my friend who's going for Master's in Economics. What's your selling price?