Business Economics

Business economics brings together topics in microeconomics that can be applied to business decision making to create valuable ways of thinking about markets and business decisions. The objective of this book is to help students become architects of business strategy. It will teach students the economic way of thinking about business decisions. They will develop critical thinking skills needed to logically analyse business decisions. Economic theory helps managers to understand real world business problems by using simplifying assumptions to abstract away from irrelevant ideas and information and turn complexity into relative simplicity. Like a road map economic theory ignores everything irrelevant in a problem and reduces business problems to their most essential components. This book has been specially designed and written to systematically cover the syllabus of Business Economics. The book is divided into four units and 15 chapters. The book is a product of 26 years of my teaching experience and personal interaction with the students at undergraduate postgraduate BBAand MBA level. Some unique features of the book are as follows: 1. Acomprehensive coverage of the new syllabus. 2. Aclear and precise exposition of the subject. 3. Learning Objectives outlining the contents of the chapter. 4. Analysis in each chapter is developed step by step in a systematic manner based on logical reasoning. 5. Glossary of important terms and concepts highlighted in a box in each chapter. 6. An important summary at the end of every chapter. 7. Chapter-wise important review questions covering all aspects.