Business Administration and Managerial Economics

Business administration and managerial economics are two important fields that are significant to the success of a business. While business administration refers to the study of the administrative aspects of a business, managerial economics is the application of economic principles and models to solve practical problems in a business. Business administration is concerned with the management of varied business operations, decision-making, human resource organization, material allocation, etc. Techniques of managerial economics are most commonly applied to risk analysis, production analysis, pricing analysis and capital budgeting. This book sheds light on the fundamental theories and concepts of each discipline. Some of the diverse topics covered in this book address the varied branches that fall under this category. Students, researchers, experts, managers, economists and all associated with business administration and managerial economics will benefit from this book.