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Q.

Managerial Economics serves as a link between traditional economics and the decision making sciences for business decision making . What is your opinion ????

Tags: money, careers, education
Asked by Heartpuller, 04 Mar '10 01:21 am
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Answers (1)

 
1.

Managerial economics deals with micro economics in an industry for strategic decision making.
It facilitates the transition from economic theories to economics in pratice. It employs quantitative tools like risk analysis,production analysis ,pricing analysis and capital budgeting. There are lot of factors involved in the business outcome , managerial economics uses the quantitative tools to predict the outcome and help in the decision making.

Some examples of decisions are as under :

Whether the company has to venture into new products??
Should a firm continue to be in business in an industry in which it is currently engaged ???
Means to motivate employees in the industry??
Answered by Mohammed asim nehal, 04 Mar '10 01:28 am

 
  
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