Managerial economics deals with the application of the economic concepts, theories and methodologies to solve practical problems in a business. In other words, managerial economics is the combination of managerial theory, it acts as a link between practice and theory. It is sometimes referred to as business economics and is a branch of economics that applies microeconomic analysis to decision methods of businesses or other management units; as such, it bridges economic theory and economics in practice. It draws from quantitative techniques such as regression analysis and calculus. 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, for example through the use of operations research, mathematical programming, game theory for strategic decisions, other computational methods. Managerial decision areas include: assessment of investable funds selecting business area choice of product determining optimum output sales promotionAlmost any business decision can be analyzed with managerial economics techniques, but it is most applied to: Risk analysis – various models are used to quantify risk and asymmetric information and to employ them in decision rules to manage risk.
Production analysis – microeconomic techniques are used to analyze production efficiency, optimum factor allocation, economies of scale and to estimate the firm's cost function. Pricing analysis – microeconomic techniques are used to analyze various pricing decisions including transfer pricing, joint product pricing, price discrimination, price elasticity estimations, 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 to advanced undergraduates and graduate business students, it is approached as an integration subject. That is, it integrates many concepts from a wide variety of prerequisite courses. In many countries it is possible to read for a degree in Business Economics which covers managerial economics, financial economics, game theory, business forecasting and industrial economics. Managerial economics to a certain degree is prescriptive in nature as it suggests course of action to a managerial problem.
Problems can be related to various departments in a firm like production, sales, etc.and it can help in decision making. Operational issues Demand decision Production decision Theory of exchange or price theory All human economic activity Environmental issues Nature and trend of domestic business/ international environment Nature and impact of social costs and government policy Demand is the willingness of potential customers to buy a commodity, it defines the market size for a commodity, at a disaggregated level the composition of the customer base. Analysis of demand is important for a firm as its revenue and income of its employees depend on it. Computational Economics. Aims and scope. Journal of Economics & Management Strategy. Aims and scope. Managerial and Decision Economics Alan Hughes. "managerial capitalism," The New Palgrave: A Dictionary of Economics, v. 3, pp. 293–96. Edward Lazear. "personnel economics," The New Palgrave Dictionary of Economics. 2nd Edition. Abstract. Keith Weigelt. Managerial Economics Elmer G. Wiens The Public Firm with Managerial Incentives Khan Ahsan.
"Managerial Economics and Economic Analysis", 3rd edition, Pakistan. Arya sri."managerial economics ":MEFA.. Http://www.edushareonline.in/Management/eco%20new.pdf http://www.swlearning.com/economics/hirschey/managerial_econ/chap01.pdf
Tejaa Devkar is an Indian actress who has acted in Marathi language television series and films. Tejaa was born to Suresh and Neeta Deokar in Mumbai, she has done her doctorate in English Literature. Suresh is a businessman in Mumbai, Neeta had produced a couple of Marathi films. Teja has worked in many Marathi movies and is associated with many serials aired on different channels, she has won many awards in various category. She began her career in 2005 with the Marathi movie Hirwa Kunku, a family drama which did well at the box office in the remote places in Maharashtra, she has acted in many other Marathi movies including Oxygen, Khandaobacha Lagin, Shambhu Majha Navsacha and Adla Badli. In Dharpakad she had played a kabbadi sportsman, in Khandobacha lagin she plays an adivasi girl, in Shambhu majha navsacha she played a negative role, whereas in Adla Badla she played a comic role. In Neeta Devkar's Oxygen, she played a housewife. Hirwa Kunku Oxygen Dharpakad Khandobacha Lagin adla badli My Mauli Manudevi Shambhu Maza Navsacha Sasu Cha Swayamwar Bharla Malwat Rakhtaana Nati Boom Boom Bajirav Raadika Sasucha Swayamvar Nazar 1234 Bharla Malvat Raktana Topiwale Kavale Khel Tamasha Tuch Khari Gharchi Lakshmi Chal Dhar Pakad Mulga Jaavai Maazha Navasacha Aar Aar Aaba Aata Tari Thamba Karz Kunkavache Mahercha Daivat Thank You Vitthala Pani Bani Vrundavan as "Kartiki".
Kulswamini. Maileek ek zunj vadalashe Chimanipankh
Chris Smiley is a British racing driver competing in the British Touring Car Championship. He debuted in 2016, after winning the Mini Challenge GB in 2013. Smiley began his career in karting in 2000 he finished 3rd overall in the BRDC Stars Of Tomorrow in 2006, he raced in the Ginetta Junior Championship after winning the junior scholarship in 2007, he went on to win the 2013 Mini Challenge 14 podiums in 20 races. He made a one-off appearance in the 2014 Volkswagen Racing Cup winning both races at Oulton Park Circuit, as well as finishing 4th in the Volkswagen Scirocco R-Cup in 2014. In January 2016, it was announced that Smiley would make his British Touring Car Championship debut with TLC Racing driving a Toyota Avensis. Chris Smiley Official Website Chris Smiley career summary at DriverDB.com Chris Smiley on Facebook Chris Smiley on Twitter