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MEANING SCOPE AND METHODS OF MANAGERIAL ECONOMICS



INTRODUCTION

Emergence of managerial economics as a separate course of management studies can be attributed to at least three factors.:

(a) growing complexity of business decision making process due to changing market conditions and business environment
(b) consequent upon, the increasing use of economic logic , concepts theories and tools o economic analysis in the process of business decision making
(c) Rapid increase in demand for professionally trained managerial manpower

The growing complexity of business decision- masking has inevitably increased the application of economic concepts, theories and tools of economic analysis in this area. The reason is that making an appropriate business decision requires a clear understanding of market conditions, the nature and degree of competition, art fundamentals and the business environment This requires intensive and extensive analysis of the market......

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Approximate Word Count: 2110
Approximate Pages: 9 (250 words per double-spaced page)

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