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Managerial Economics

Managerial Economics

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Published by sukumar_s
Managerial Economics
Managerial Economics

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Categories:Business/Law
Published by: sukumar_s on Sep 21, 2009
Copyright:Attribution Non-commercial

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08/02/2013

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MANAGERIAL ECONOMICS
PROF. B. S. PATIL
 
ECONOMICS
A socialscience, not a natural science
“…the study of how a given society allocates scarceresources to meet the unlimitedwants and needs ofits members”
“…concerned with the efficientuse of scarceresources to achieve the maximum satisfaction ofwants”
“…seeks to understand how individuals interact withthe social structure…to address production andexchange of goods and services”
 
Why study it?
Study of economics deals with production, allocationand distribution of resources
Economics is a great field and entry to lots ofinteresting and important jobs
Allows us to think abstractly and ask…“what if…
Useful for policy-making in business, government ornon-profit pursuits

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