Widely acknowledged, this popular and detailed text is a comprehensive treatise on Managerial Economics - both micro and macro-economic aspects. This text ensures a thorough understanding of core concepts before advancing to provide an expanded treatment of topics. It explains the economic environment and the impact on managerial decisions regarding price and output determination in different market structures followed by an account of the behaviour of individuals under conditions of uncertainty. Key Features Recent data of Balance of Payments Up-to-date explanation of the changes in GDS and GDCF and valued added method to measure national income in India by CSO Contemporary discussion on the role of Government borrowing for financing economic development and the concept of fiscal deficit Table of Content Part-I: Managerial Economics: Nature, Scope and Optimisation Techniques The Nature and Scope of Managerial Economics. Basic Model of the Firm and Role of Profits Optimisation: Concepts and Techniques, Marginal and Incremental Analysis Part-II: Demand Analysis and Theory of Consumer's Choice Demand and Demand Function, Elasticity of Demand, Consumer's Behaviour: Cardinal Utility Analysis, Indifference Curve Analysis of Demand, Revealed Preference Theory of Demand, Demand Estimation, Demand ForecastingPart-III: Theory of Production and Cost Analysis The Theory of Production: recurring to a Variable Factor, Production Function with Two Variable Inputs, Optimum Input Combination, Cost Analysis, Break-Even Analysis (Cost-Volume Profit Analysis), Linear Programming, Supply and its Elasticity Part-IV: Pricing and Output Decisions in Various Market Structures Market Structures and Price and Output Determination Under Perfect Competition, Pricing and Output Decisions under Monopoly, Pricing and Output Decisions under Monopolistic Competition, Price and Output Determination under Oligopoly, Non-Price Competition: Advertising Expenditure, Government Policies Towards Monopoly and Competition Part-V: Pricing Practices and Strategies, Managerial and Behavioural Models of the Firm Cost-Plus (or Mark-up) Pricing, Price Discrimination, Pricing of Multiple Products, Transfer Pricing, Pricing in Non-Profit Enterprises, Ramsey Pricing and Peak-Load Pricing, Sales Maximisation Model of Oligopoly Firm, Managerial Theories of the Firm: Marris and Williamson's Models, Behavioural Model of the Firm (Satisficing Theory of the Firm), Theory of Games and Strategic BehaviourPart-VI: Capital Budgeting and Decision Making Under Risk and Uncertainty Capital Budgeting: Long-term Investment Analysis, Cost of Capital, Decision Making Under Risk and Uncertainty, Decision Making Under Risk and Uncertainty (Continued)Part-VII: Macroeconomics for Management Macroeconomics: Issues and Concepts, Macroeconomic Aggregates: Aggregate Consumption, Gross Domestic Saving and Capital Formation, National Income Aggregates (GDP and GNP) and their Measurement, Determination of National Income: Keynes's Two Sector Basic Model, Determination of National Income with Government and Foreign Trade: Three Sector and Four Sector Models, Consumption and Investment Demand, Money Supply, Money Demand and Money Market Equilibrium, the IS-LM Curve Model (Synthesis of Monetary and Real Factors), Aggregate Demand and Aggregate Supply: Flexible Price Model, International Economic Linkages and Mundell-Fleming Model, Inflation: Nature and Causes, Analysis of Business Cycles, Economic.
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