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Industrial Economics
By Sunita Sukhija
Assistant Professor
Government National College, Sirsa
Content
In this PPT we will discuss about the following
topics:-
1. Meaning of Industrial Economics
2. Need of Industrial Economics
3. Objectives of Industrial Economics
4. Scope of Industrial Economics
5. Importance of Industrial Economics
Introduction to Industrial
Economics
Before studying the meaning of Industrial Economics it is necessary
to understand the meaning of Industry and Economics.
Industry
Industry is an economic activity where raw material is
converted into finished goods. In other words industry
means where goods are manufactured.
Example: Steel Industry, Cotton Industry etc.
Economics
Economics is the study of how human beings make choice to
allocate scarce resources to satisfy their unlimited wants in
such a manner that consumers can maximize their
satisfaction, producers can maximize their profits and the
society can maximize its objective.
Industrial Economics
Industrial Economics is a distinctive branch of
economics which deals with economic
problems of the firms and industries and
their relationship with society. It has both
micro and macro aspect. Industrial Economics
is the study of firms, industries and markets.
It looks at firms of all sizes from local corner
shops to multinational giants. It is also called
Economics of Industries, Industry and Trade,
Industrial Organisation and Policy.
Industry
Economics
Industrial
Economics
Need of Industrial Economics
Now the important question arises why we study Industrial
Economics and Why we need Industrial Economics. The answer of
this question is that industrial economics helps us to understand
the following issues:
The levels at which
capacity, output and
prices are set
The extent that products
are differentiated from
each other
How much firms
invested in research and
development
How and Why firm
advertise
Need
Objectives of Industrial Economics
Objectives
Achieving the target
of Industrial
Development
Provides the
information related
to natural resources,
industrial climate etc.
Scope of Industrial Economics
Industrial Efficiency
Industrial Location
Industrial Finance
Determinants of Profitability
Profit Analysis
Cost Analysis
Pricing Theory
Diversification
Importance of Industrial Economics
Increase in per capita income
Rise in Capital Formation
Optimal utilization of resources
Providing Employment
Stable Economics Growth
Solving the problem of BOP
Agriculture Improvement
Industrial economics (1)

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Industrial economics (1)

  • 1. Industrial Economics By Sunita Sukhija Assistant Professor Government National College, Sirsa
  • 2. Content In this PPT we will discuss about the following topics:- 1. Meaning of Industrial Economics 2. Need of Industrial Economics 3. Objectives of Industrial Economics 4. Scope of Industrial Economics 5. Importance of Industrial Economics
  • 3. Introduction to Industrial Economics Before studying the meaning of Industrial Economics it is necessary to understand the meaning of Industry and Economics.
  • 4. Industry Industry is an economic activity where raw material is converted into finished goods. In other words industry means where goods are manufactured. Example: Steel Industry, Cotton Industry etc.
  • 5. Economics Economics is the study of how human beings make choice to allocate scarce resources to satisfy their unlimited wants in such a manner that consumers can maximize their satisfaction, producers can maximize their profits and the society can maximize its objective.
  • 6. Industrial Economics Industrial Economics is a distinctive branch of economics which deals with economic problems of the firms and industries and their relationship with society. It has both micro and macro aspect. Industrial Economics is the study of firms, industries and markets. It looks at firms of all sizes from local corner shops to multinational giants. It is also called Economics of Industries, Industry and Trade, Industrial Organisation and Policy. Industry Economics Industrial Economics
  • 7. Need of Industrial Economics Now the important question arises why we study Industrial Economics and Why we need Industrial Economics. The answer of this question is that industrial economics helps us to understand the following issues: The levels at which capacity, output and prices are set The extent that products are differentiated from each other How much firms invested in research and development How and Why firm advertise Need
  • 8. Objectives of Industrial Economics Objectives Achieving the target of Industrial Development Provides the information related to natural resources, industrial climate etc.
  • 9. Scope of Industrial Economics Industrial Efficiency Industrial Location Industrial Finance Determinants of Profitability Profit Analysis Cost Analysis Pricing Theory Diversification
  • 10. Importance of Industrial Economics Increase in per capita income Rise in Capital Formation Optimal utilization of resources Providing Employment Stable Economics Growth Solving the problem of BOP Agriculture Improvement