Economics-For Managers

Economics is the study of how economic agents or societies choose to use scarce resources to satisfy unlimited wants. It examines how resources can be optimally distributed to satisfy the needs of individuals and society as a whole. Knowledge of economics helps businesses become more profitable through proper allocation of resources, and helps governments take budgetary and trade related decisions. To obtain a better understanding of the changing business environment, managers need to analyze economic problems at two levels - microeconomic and macroeconomic.

Economics for Managers helps students understand concepts in both microeconomics and macroeconomics and their application in the business environment. The first part of the book focuses on the nature of individual consumption and production units within a particular market or economic system. The second part deals with the overall performance of the economic system and examines issues such as unemployment, inflation, and economic growth.