He obtained his M.Com., M.A. and Ph.D degrees from Banaras Hindu University and joined Ramjas College, University of Delhi, as a Lecturer in Economics in the year 1969. He retired from Ramjas College as Reader in August 2004. After his retirement, he joined Maharaja Agrasen Institute of Management Studies (MAIMS), Delhi, where he worked as Professor of Economics till January 2016.
About the Book
This well-known book on the subject has stood the test of time for the last 35 years because of the quality of presentation of its text. It has become students' favourite as it provides the latest theories, thoughts and applications on the subject with timely revisions to stay up-to-date all the time. Since its first edition, it has provided complete, comprehensive and authentic text on micro and macro aspects of managerial economics. It has now been revised thoroughly with added interpretations of economic theories and concepts and their application to managerial decisions.
New in this Edition
• Summary at the end of each chapter for quick recap
• One complete new chapter; several new sections
• It covers all the microeconomic and macroeconomic theories along with their implications in managerial decision making in the real-world context of the firm, industry and national levels required by the postgraduate management and commerce curriculum.
• The book is lucidly written, complemented well with use of graphical and mathematical treatment at an appropriate depth so that the non-initiated readers will find the contents accessible and engaging. All mathematical relationships have been derived step by step, and all graphical representations have been analyzed appropriately.
• The text is profusely illustrated with examples, which will help the readers to understand and assimilate the theories and concepts in a sound manner.
• A rich suite of end-of-chapter exercises will help the reader to apply their learning and therefore reinforcement of conceptual clarity.
Table of Content
Part-I: Introduction: 1. Nature and Scope of Managerial Economics, 2. Objectives of Business Firms, 3. Some Fundamental Concepts and Business Decision Rules, 4. Basic Tools of Economic Analysis and Optimization Techniques, 5. Method of Estimating a Function: The Regression Technique, Part-II: Theory of Consumer Demand and Demand Forecasting: 6. Analysis of Consumer Demand, 7. Analysis of Market Demand, 8. Elasticity of Demand, 9. Demand Forecasting, Part-III: Production and Cost Analysis: 10. Theory of Production, 11. Theory of Cost and Break-Even Analysis, 12. Linear Programming, Part-IV: Market Structure, Pricing Theory and Practices: 13. Market Structure and Pricing Decisions, 14. Price and Output Determination Under Perfect Competition, 15. Price and Output Determination Under Monopoly, 16. Price and Output Determination Under Monopolistic Competition, 17. Price and Output Determination Under Oligopoly, 18. Game Theory and Strategic Behaviour of Oligopoly Firms, 19. Alternative Theories of the Firm, 20. Pricing Strategies and Practices, Part-V: Capital Budgeting and Investment Decisions: 21. Capital Budgeting and Investment Decisions Under Certainty, 22. Investment Decisions Under Risk and Uncertainty, Part-VI: Macroeconomic Aspects of Managerial Economics: 23. Macroeconomics: Definition, Nature, Scope and Importance, 24. Circular Flow Model of the Economy, 25. National Income: Concept and Measurement, 26. Theory of National Income Determination, 27. Monetary Sector of the Economy, 28. IS-LM Model of the Economy: The General Equilibrium Model, 29. Modern Theories of Economic Growth, 30. Business Cycles and Control Measures, 31. Theories of Inflation and Control Measures, Part-VII: International Aspects of Business Management: 32. Changing International Business Environment, 33. Theories of Foreign Trade, 34. Foreign Trade Policy: Free Trade vs. Trade Control, 35. Determination of Foreign Exchange Rate, 36. Balance of Payments: Meaning, Measurement and Adjustment, 37. International Monetary System, 38. Government's Role in The Economy, 39. Monetary Policy, 40. Fiscal Policy, 41. Industrial Policy of India, 42. Some Economic Legislations, 43. Corporate Social Responsibility