Managerial economics module

  • GENERAL COURSE DESCRIPTION:
    Topics covered include economic optimization, demand and demand estimation, forecasting techniques, production functions, cost analysis and estimation, the perfectly competitive, monopoly, monopolistically competitive and oligopoly market structures, pricing practices, and evaluating risk.
Module aims The module develops the basics of microeconomics as a framework to help students analyse managerial problems. Among the topics to be discussed are. 
Module aims. The module develops the basics of microeconomics as a framework to help students analyse managerial problems. Among the topics to be discussed 

What is the difference between managerial economics and econometrics?

Econometrics is defined relationship between economic variables

It uses factual data for solution of economic problems

Managerial Economics is associated with the economic theory which constitutes “Theory of Firm”

Theory of firm states that the primary aim of the firm is to maximize wealth

Decision making in managerial economics generally


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