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What is the need of subject managerial economics for the engineering students?
Wiki User
∙ 9y ago
Engineering students need managerial economics so that they can better understand how they help their business. With a broader view of their contribution to the organization, they are able to do a better job.
Wiki User
∙ 9y ago
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What are the advantages to students in studying the economics subject?
They learn about economy.
Definition of managerial economics?
Managerial economics (also called business economics), is a branch of economics that applies microeconomic analysis to specific business decisions. As such, it bridges economic theory and economics in practice. It draws heavily from quantitative techniques such as regression analysis and correlation, Lagrangian calculus (linear). 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 and programming.(the things mentioned above are ___________)
How does managerial economics help managers in achieving his organizational goals?
The goal of any organisation is to achieve maximum (Profits)efficiency with least amount of labour and investment. The managerial economics is not a concrete science, since both management and economics are not and both subjects are highly flexible and are totally under human control. Both subjects, deal with the nature of human being. In brief: Achieving the optimum output with least input, is the simple definition of this subject.
What is the relation of economics to hotel and restaurant management?
does economics needed in hotel and restaurant management subjects? i want to know if this subject can contribute to all students of hotel and restaurant management.
Why does economics subject was offered in a college students?
Since its a very nice subject and has many benefits. You can enter the banking industry for example or practically any job market you want to:)
What has the author Lawrence Southwick written?
Lawrence Southwick has written: 'Managerial economics' -- subject(s): Managerial economics
What has the author Samuel C Webb written?
Samuel C. Webb has written: 'Managerial economics' -- subject(s): Managerial economics
What has the author J Wilson Mixon written?
J. Wilson Mixon has written: 'Managerial economics' -- subject(s): Managerial economics
What has the author Semoon Chang written?
Semoon Chang has written: 'Practitioners' guide to managerial economics' -- subject(s): Managerial economics
What has the author H Davies written?
H. Davies has written: 'Managerial economics' -- subject(s): Business enterprises, Finance, Managerial economics
What has the author Ian M Dobbs written?
Ian M. Dobbs has written: 'The individual travel-cost method' 'Managerial economics' -- subject(s): Managerial economics
What has the author David Barrows written?
David Barrows has written: 'Fundamentals of economics for business' -- subject(s): Managerial economics, Economics
What has the author Maria Moschandreas written?
Maria Moschandreas has written: 'Business economics' -- subject(s): Managerial economics
How managerial economics is pragmatic?
Managerial economics is pragmatic since it is practical subject. It prevents abstracts issues of economics theory and help in solving complications that are not covered by economics theory. Thus it helps to analyze the situations in which managers take decision.
What has the author G P Marshall written?
G. P. Marshall has written: 'Economics of managerial decision-making' -- subject(s): Decision making, Decision-making, Managerial economics
What has the author Kazuto Kunihiro written?
Kazuto Kunihiro has written: 'Shikinguri no keieigaku' -- subject(s): Managerial accounting, Managerial economics
What has the author Frank Livesey written?
Frank Livesey has written: 'A textbook of core economics' -- subject(s): Economics 'Stage 1 economics' -- subject(s): Economics 'Dictionary of Economics' 'Economics' -- subject(s): Economics, Marketing, Problems, exercises 'A modern approach to economics' -- subject(s): Economics 'Economics (A.C.C.A.)' 'Economics for business decisions' -- subject(s): Managerial economics 'Economics (Marketing)' 'A textbook of economics' -- subject(s): Economics 'Objective tests in A Level economics' -- subject(s): Economics, Examinations, questions, Problems, exercises
