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MANAGERIAL ECONOMICS Prof. Swaha Shome
Managerial Economics ,[object Object],[object Object],[object Object],[object Object]
What is Managerial Economics? Howard Davies -  “ It is the application of economic analysis to business problems; it has its origin in theoretical microeconomics.”
Why Managerial Economics? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Contents ,[object Object],[object Object],[object Object],[object Object],[object Object]
Market Structures ,[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object]
TEN PRINCIPLES OF ECONOMICS ,[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object]
Scarcity and Economic System ,[object Object],[object Object],[object Object]
Opportunity Cost - Components ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Opportunity Cost and Society ,[object Object],[object Object],[object Object],[object Object],[object Object]
Increasing Opportunity Cost ,[object Object],[object Object],[object Object],[object Object]
Production Possibilities Frontiers ,[object Object]
Opportunity cost ,[object Object],[object Object],[object Object],Situation X Y 1 0 20 2 1 18 3 2 15 4 3 11 5 4 6 6 5 0
Opportunity Cost - Illustrated ,[object Object],[object Object],[object Object]
Production Possibility Curve ,[object Object],[object Object],[object Object]
Production Possibility Frontier ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Economic Growth Improvement in skills Improved Technology Increase in factors of production
[object Object],[object Object],[object Object],[object Object],[object Object]
Resource Allocation ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
The Three Methods of Resources Allocation ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
The Nature of Markets ,[object Object],[object Object],[object Object],[object Object],[object Object]
INVISIBLE HAND ,[object Object],[object Object]
The Importance of Prices ,[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object]
Types of Economic Systems ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Figure 4:  Types of Economic Systems Resource Allocation Market Command Private State Resource Ownership Market   Capitalism Centrally   Planned Capitalism Centrally Planned Socialism Market Socialism
Role of Government ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Externalities ,[object Object],[object Object],[object Object],[object Object]
Public Goods ,[object Object],[object Object],[object Object]
Mixed economy ,[object Object],[object Object]

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Managerial Economics Objectives and Applications

  • 2.
  • 3. What is Managerial Economics? Howard Davies - “ It is the application of economic analysis to business problems; it has its origin in theoretical microeconomics.”
  • 4.
  • 5.
  • 6.
  • 7.
  • 8.
  • 9.
  • 10.
  • 11.
  • 12.
  • 13.
  • 14.
  • 15.
  • 16.
  • 17.
  • 18.
  • 19.
  • 20. Economic Growth Improvement in skills Improved Technology Increase in factors of production
  • 21.
  • 22.
  • 23.
  • 24.
  • 25.
  • 26.
  • 27.
  • 28.
  • 29. Figure 4: Types of Economic Systems Resource Allocation Market Command Private State Resource Ownership Market Capitalism Centrally Planned Capitalism Centrally Planned Socialism Market Socialism
  • 30.
  • 31.
  • 32.
  • 33.