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Managerial Economics - A Mathematical Approach (Other digital)
Would you like to change to the United States site? Alhabeeb , L. While illuminating managerial decision-making from all possible angles, this book equips readers with the tools and skills needed to recognize and address uncertainty. The book also explores individual, firm, and market-level decisions; discusses all possible risks and uncertainties encountered in the decision-making process; and prepares readers to deal with both epistemic and aleatory uncertainty in managerial decisions.
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Description Details Customer Reviews This completely accessible, classroom-tested book focuses on the need for training in managerial economics to be more responsive to the presence of uncertainty surrounding managerial decisions. It takes a mathematical and statistical approach to microeconomics and provides the opportunity for quantitative methods to illustrate and clarify the underlying fundamental logic of problem solving. Filled with real-life examples and problems, it covers methodological and mathematical fundamentals; decisions at the consumer, firm, and market levels; decision and risk analysis; and decisions under uncertainty.
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A Telecommunication Company may seek to provide its service to as many customers as possible at the lowest possible cost. A hotel may seek to rent its room to the maximum tourists with limitations on its physical resources and budget. A university may aim to provide education to as many students as possible subject to the physical and financial constraints it faces.
Most students taking Managerial Economics are likely to have some knowledge of some of the topics presented and tools of analysis utilized in Managerial Economics. Thus Managerial Economics concentrate more on its integrating and synthesizing role in analyzing the decision making process.
Managerial economics also called business economics , is a branch of economics that applies microeconomic analysis to specific business decisions.