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managerial economics

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managerial economics

Application of economic principles to decision making in business firms or other management units. The basic concepts are drawn from microeconomic theory, but new tools of analysis have been added. Statistical methods, for example, are increasingly important in estimating current and future demand for products. The methods of operations research and programming provide scientific criteria for maximizing profit, minimizing cost, and selecting the most profitable combination of products. Decision-making theory and game theory, which recognize the conditions of uncertainty and imperfect knowledge under which business managers operate, have contributed to systematic methods of assessing investment opportunities.



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Burnett holds a bachelor's degree from the University of California at Davis, where she studied managerial economics.
Times are different now, I suppose; a few more students in business schools seek a PhD in something called business or managerial economics.
The survey demonstrates that graduating high school seniors continue to struggle with financial literacy basics," said Lewis Mandell, professor of finance and managerial economics at SUNY Buffalo School of Management, who conducts the surveys for Jump$tart.
 
 
 
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