ECONOMICS FOR MANAGERS
UNIT- 1
INTRODUCTION TO MANAGERIAL ECONOMICS
Managerial Economics: Nature and Scope-
Basic Model of the Firm and Role of
Profits- Marginal and Incremental Analysis.
Course Code: 23P3BA05
Present By: Dr. S. Krishnakumar
, What is?
1. Economy - Saving
2. Economic – Using the minimum of time or resources
necessary for effectiveness-Profitable.
3. Economical- Avoiding waste, Economic
4. Economies- The efficient use of resources
5. Economize- Save
6. Economizer- A frugal person who limits spending and
avoids waste
7. Econometrics- The application of mathematics and
statistics to the study of economic and financial data.
,8. Economist – An expert in the science of Economics.
Economic expert.
9. Economicalness- of or relating to an economy, the
system of production and management of material wealth.
10. Uneconomical- Wasteful of resources
11. Economically- in an economical manner, with respect
to the economic system.
12. Economics- The branch of social science that deals
with the production and distribution and consumption of
goods and services and their management.
, Who is Father of Economics?
UNIT- 1
INTRODUCTION TO MANAGERIAL ECONOMICS
Managerial Economics: Nature and Scope-
Basic Model of the Firm and Role of
Profits- Marginal and Incremental Analysis.
Course Code: 23P3BA05
Present By: Dr. S. Krishnakumar
, What is?
1. Economy - Saving
2. Economic – Using the minimum of time or resources
necessary for effectiveness-Profitable.
3. Economical- Avoiding waste, Economic
4. Economies- The efficient use of resources
5. Economize- Save
6. Economizer- A frugal person who limits spending and
avoids waste
7. Econometrics- The application of mathematics and
statistics to the study of economic and financial data.
,8. Economist – An expert in the science of Economics.
Economic expert.
9. Economicalness- of or relating to an economy, the
system of production and management of material wealth.
10. Uneconomical- Wasteful of resources
11. Economically- in an economical manner, with respect
to the economic system.
12. Economics- The branch of social science that deals
with the production and distribution and consumption of
goods and services and their management.
, Who is Father of Economics?
