Essence of Managerial Economics and Management Science: A Twenty First Century Approach

Economics of Management and Economics of Management are the major ingredients for a developing economy. India, being on the threshold of a dynamic managerial revolution, needs a thorough reorientation and an in-depth study in the field of management science. The several chapters incorporated in this book relate to demand analysis, price fluctuations; input-output ratio; investment-return ratio; the economies of scale, capital budgeting, profit maximization and analysis etc. The part ‘B’ of this book refers to the need for implementing ‘Scientific Management’ in the productive process. International competition and challenges are throwing insurmountable impediments and problems for managerial efficiency and effectiveness. Management Science along with technology transfer would be the corner stone in the 21st Century for economic stability and growth. This book has been written keeping in mind the above issues. The author is confident and hopes that the book will be of great service and use not only to the student community but also to the executive and managerial staff.