1st Edition
Economics for Managers Concepts and Implications
This book will sharpen the core decision-making skills of budding managers and entrepreneurs through the concepts, logic, and principles of microeconomics used in the book with suitable examples and cases from multiple industries from across the world. By placing strong emphasis on the fundamental theories, concepts, and their application in real-life business scenarios, the book presents chapters infused with relevant case-lets, snippets, and exercises. Written in simple and engaging conversational style, this book makes complex topics easily comprehensible to the readers who have virtually no background in economics.
This book will be useful to students, researchers, and teachers from the field of economics, applied economics, and business studies. Additionally, this book would also be an invaluable companion to aspiring business managers and corporate leaders.
1. Introduction- Management: A Decision-Making Skill 2. Forces of Demand and Supply: Price Mechanism at Work 3. Elasticity of Demand & Supply 4. Consumer Behaviour 5. Applications of Consumer Theory 6. Demand Forecasting 7. Production, Costs and Revenues 8. Profit Maximisation and Perfect Competition 9. Efficiency of Competitive Markets, and Corrective Measures 10. Monopoly 11. Monopolistic Competition and Oligopoly (with an Introduction to Game Theory) 12. Decision-Making under Uncertainty 13. Asset Markets and Portfolio Choice 14. Markets for Factors of Production 15. Going Global
Biography
Satya P. Das is a courtesy faculty in the Department of Economics, University of South Florida, USA. Prior to this position, he was a visiting professor at the University of Illinois at Urbana-Champaign, USA (3 years), a professor at the Indian Statistical Institute, Delhi Centre (21 years), a professor at the Indiana University Bloomington, USA (8 years) and an assistant and associate professor at the University of Wisconsin-Milwaukee (9 years). He obtained his bachelor’s degree from Utkal University, Odisha, MA degree in economics from Delhi School of Economics and the PhD degree from the Southern Methodist University, USA. He has published numerous articles in professional journals, authored four books: a monograph on business cycles [1993] and an NCERT Class XII microeconomics text [2002], Managerial Economics (2007 and 2022) and textbook on the Economics of Terrorism (2022). He was the founding editor of the Indian Growth and Development Review and has guided several doctoral theses. His hobbies include bicycling, listening to music, singing and travelling. He currently lives in Florida, USA, with his wife, Rajashree.
J. K. Goyal is currently working as visiting faculty in Jagan Institute of Management Studies (JIMS), Sector-5, Rohini, Delhi. Earlier he was Director (2005-2018) and Professor (2018-2023) of JIMS. He started his professional career as a Lecturer in Delhi University. He graduated in Economics Hons from Punjab University where he stood first in the University and was awarded the Gold Medal in Economics Dr. J. K. Goyal has done his Masters in Economics from Delhi School of Economics, University of Delhi. He has done his Ph.D. from the Faculty of Commerce and Business, D.U. He has over four decades of teaching experience both at under graduate as well as post graduate levels. He has taught subjects like Managerial Economics, Macroeconomic Management, Economic Environment of Business to MBA students and Microeconomics, Business Economics to B.Com (H) and BBA students. He has presented papers at various national / international seminars and has written several articles. He has guided several M.Phil. and Ph.D. scholars. His hobbies include playing tennis, trekking, globe-trotting and listening to Sufi music.
