This well-known book on the subject has stood the test of time for the last 40 years because of the quality of presentation of its text. It has become students' favourite as it provides the latest theories, thoughts and applications on the subject with timely revisions to stay up-to-date all the time. Since its first edition, it has provided complete, comprehensive and authentic text on micro and macro aspects of managerial economics. It has now been revised thoroughly with added interpretations of economic theories and concepts, and their application to managerial decisions. It covers all the microeconomic and macroeconomic theories along with their implications in managerial decision making in the real-world context of the firm, industry and national levels required by the postgraduate management and commerce curriculum. The book is lucidly written, complemented well with use of graphical and mathematical treatment at an appropriate depth so that the non-initiated readers will find the contents accessible and engaging. All mathematical relationships have been derived step by step, and all graphical representations have been analyzed appropriately. The text is profusely illustrated with examples, which will help the readers to understand and assimilate the theories and concepts in a sound manner. A rich suite of end-of-chapter exercises will help the reader to apply their learning and therefore reinforcement of conceptual clarity. PART I: INTRODUCTION 1 Nature and Scope of Managerial Economics 2 Objectives of Business Firms 3 Some Fundamental Concepts and Business Decision Rules 4 Some Mathematical Tools of Economic Analysis 5 Optimization Technique PART II: THEORY OF CONSUMER DEMAND AND DEMAND FORECASTING 6 Analysis of Consumer Demand 7 Analysis of Market Demand 8 Elasticity of Demand and Its Application 9 Demand Estimation and Forecasting PART III: THEORY OF PRODUCTION AND COST ANALYSIS 10 Theory of Production 11 Theory of Cost and Break-Even Analysis 12 Linear Programming PART IV: MARKET STRUCTURE, PRICING THEORY AND PRACTICES 13 Market Structure and Market Mechanism 14 Price and Output Determination under Perfect Competition 15 Price and Output Determination under Monopoly 16 Price and Output Determination under Monopolistic Competition 17 Price and Output Determination under Oligopoly 18 Game Theory and Strategic Behaviour of Oligopoly Firms 19 Managerial Theories of Firm 20 Pricing Strategies and Practices of Firms PART V: CAPITAL BUDGETING AND INVESTMENT DECISIONS 21 Capital Budgeting and Investment Decisions under Certainty 22 Investment Decisions under Risk and Uncertainty PART VI: MACROECONOMIC ASPECTS OF MANAGERIAL ECONOMICS 23 Macroeconomics: Definition, Scope and Application 24 National Income: Concepts and Measurements 25 Theory of National Income Determination 26 Analysis of the Monetary Sector 27 Theories of Economic Growth and Business Cycles 28 Theories of Inflation and Control Measures PART VII: GOVERNMENT ROLE IN THE ECONOMY AND ECONOMIC POLICIES 29 Government Role in the Market Economy 30 Monetary Policy 31 Fiscal Policy of India 32 Corporate Social Responsibility PART VIII: SOME INTERNATIONAL ASPECTS: GLOBALIZATION AND BALANCE OF PAYMENTS 33 Impact of Globalization on Business Environment 34 The Balance of Payments: Assessment and Adjustment Index