Beruflich Dokumente
Kultur Dokumente
What is Management ?
Duties ,functions and role of manager
What is Economics?
Definition of Managerial Economics
Relationship to Economic Theory
Relationship to decision science
Business environment and managerial economics
Scope of Managerial economics
What is management
dynamism ,computerization,
Economies are no longer self-sufficient, inwardlooking; added is the pressure of severe
competition due to globalization.
Darwins principle applies even today nay more
strongly.
Big corporates follow military strategies involving
surprise, security and unity of command.
Business units aim at a variety of goals /
objectives.
Problem of economizing and choice are most
important for firms.
What is management ?
What is Economics ?
Definition of Managerial
Economics
Demand
Cost Analysis
Pricing policies
Profit management
Capital Management
Inventory management
Marketing and advertising
Whether it is setting of new machinery/plant
or recruiting /laying off labor-
Basic Concepts
Rationality
Positive and Normative Economics
Alternative economic systems
Value and price
Utility and demand
Marginalism / Marginal analysis
Rationality
What to produce?
How to produce?
For whom to produce?
Market economy
Command economy
Mixed economy
Marginalism / Marginal
analysis
Rs.
invested
A
(Rs000)
B
(Rs000)
selection
17
24
12
30
16
35
20
39
24
A/B
42
28
44
32
45
36
10
45
40
Thank Q !!