Managerial Economics is an applied economics which aids financial managers in decision making process. It includes concepts which help financial manager in the issues such as pricing decision, cost decision, competitive strategies, market behavior, theory of firm, firm's strategic motives under various market structures etc. The real world example include various organizations such as banks, MNCs, organizations do risk analysis, production analysis, pricing analysis and capital budgeting which are the major topics covered in Managerial Economics.
Define the nature and origin of economics
Define Managerial Economics. Discuss its nature.