Management economics

This edition has been thoroughly revised and enlarged. Numerous qualitative and quantitative changes have been made. Part I of the book has been almost rewritten. Many new sections and sub-sections have been added to the various chapters. The major additions include some more types and determinants of demand, some more important production functions, elaboration of laws of returns to scale through production function, effects of change in input prices on input com bination, break-even analysis under linear revenue and cost conditions, some other important pricing practices. Besides theoretical sections have been reinforced with additional diagrams and algebraic treatment of economic concepts and theories. The application of economic tools of analysis has been highlighted at appropriate places.

In this revised and enlarged edition, the original structure of the book remains substantially the same as in the first edition. As such, Part I deals with micro aspects of managerial economics, i.c., demand analysis, demand forecasting, cost and production theories, linear programming, pricing theories and practices, and capital budgeting. Part II presents a brief discussion on the concepts and measurement of the national income and theories of national income determination, economic growth and business fluctuations. Part III includes discussion on international trade theory and policy, balance of payments, ex change control, and international monetary system. Part IV deals with government interference with market mechanism and its influence on private business.

The book is primarily meant for the students of M.Com., M.B.A., of various universities. It is also meant for the students of C.A., Company Secretary, Professional Managers, and other competitive examinations.