You are here

Managerial Economics - Meaning, Nature, Importance and Scope

Submitted by chegg987 on Wed, 10/11/2023 - 06:05

Managerial economics is a stream of management studies that emphasizes primarily on solving business problems and decision-making by applying the theories and principles of microeconomics and macroeconomics. It is a specialized stream dealing with an organization’s internal issues using various economic tools. Economics is an indispensable part of any business. This single concept derives all the business assumptions, forecasting, and investments.