Economics, broadly defined, is how a society manages its scarce resources, yet the very fact that the word “manage” is embedded within this definition is often under-appreciated. Principles of Managerial Economics builds on this perspective by presenting economic concepts through the lens of managerial decision-making. This Indian adaptation of a widely respected best-selling textbook retains the clarity, intuition, and analytical discipline of the original while reframing the content as decisions that managers must make, especially in the Indian context. Designed for Indian business schools, the book features localized examples and notations.
- Indian adaptation of a globally best-selling title, with all examples and notations customized to align with the needs of business schools in India.
- New and updated "In the News," "FYI" and "Case Study" features highlight recent and significant microeconomic events.
- Ask the experts boxes highlight the latest insights from leading economists.
- Managerial insight sections allow reflection on how concepts can be applied within organizations and highlight potential real-world applications of the learning.
Part I Introduction
1 Basic Principles of Managerial Economics
2 How Managers think like Economists
3 Gains from Specialization and Strategic Interdependence
Part II How Markets Work
4 The Market Forces of Supply and Demand
5 Elasticity and Managerial Decision Making
6 Regulation, Pricing, and Managerial Response to Government Policies
Part III Markets and Welfare
7 Taxation, Efficiency, and Business Strategy
8 Globalization and Trade Policy
9 Indian Business and Economic Environment
Part IV The Economics of the Public Sector
10 Externalities
11 The Economics of Healthcare
12 The Costs of Production
13 Firms in Competitive Markets
Part V Firm Behavior and the Organization of Industry
14 Monopoly
15 Monopolistic Competition
16 Game Theory and Business Application
17 Oligopoly
18 The Markets for the Factors of Production
Part VI The Economics of Labor Markets
19 Wages, Inequality and Diversity in Indian Businesses
20 Poverty and Human Capital Development
21 The Theory of Consumer Choice
Part VII Topics for Further Study
22 Frontiers of Managerial Economics
23 Uncertainty and Risk Preferences
24 Appendix: Data in Managerial Economics
N. Gregory Mankiw is the Robert M. Beren Professor of Economics at Harvard University.
Somdeep Chatterjee is an Associate Professor of Economics at the Indian Institute of Management Calcutta (IIMC).
