{"id":42594,"date":"2015-08-26T09:02:31","date_gmt":"2015-08-26T03:32:31","guid":{"rendered":"http:\/\/vskills.in\/certification\/blog\/?p=42594"},"modified":"2024-04-03T13:13:23","modified_gmt":"2024-04-03T07:43:23","slug":"managerial-economics","status":"publish","type":"post","link":"https:\/\/www.vskills.in\/certification\/blog\/managerial-economics\/","title":{"rendered":"Managerial Economics"},"content":{"rendered":"<h2 style=\"text-align: center\"><strong>Managerial Economics- why effective human skills are important to develop professional managers<\/strong><\/h2>\n<p style=\"text-align: center\"><a ref=\"magnificPopup\" href=\"http:\/\/vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/08\/Managerial-Economics.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-42689\" src=\"http:\/\/vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/08\/Managerial-Economics.jpg\" alt=\"Managerial Economics\" width=\"259\" height=\"194\"><\/a><\/p>\n<p>With the expansion of Liberalization Privatization and Globalization (L.P.G.) policies and in this era of a non-static global business environment, it is essential as well as important to develop competent managerial talent for making resources useful and achieving high levels of competitiveness and productivity in organizations.<\/p>\n<p>The concepts of Managerial Economics aim at nourishing the students with effective human and conceptual skills, along with comprehensive knowledge &amp; principles of achievement to develop students as dedicated, devoted, responsible, and active managers.<br \/>\nIt helps them in honing their hidden talent, sparking their curiosity, developing leadership qualities amongst them and the ability to influence and change their institute and society in totality in a positive, significant and harmonious manner; thereby enabling them to reach the pinnacle of their potential and capabilities.<\/p>\n<p>&nbsp;<\/p>\n<p>The core objective of the subject is to use the micro-economic concepts and involve their application in evaluating business decisions, which are routinely taken by firms at every level and scale. The emphasis is on understanding how the tools of standard price theory can be engaged or employed to devise a decision trouble or difficulty, evaluate alternative courses of action and finally choose among alternatives.<\/p>\n<p>&nbsp;<\/p>\n<p>Economics as a concept when used in practice as well as in real life situations is unbounded in nature, that is, it does not have any finite end to it with the main principle being \u2018human wants are not limited in nature\u2019, starting from essential and indispensable household needs of pricing and demand, analyzing the various bundles of goods available in the market, buying a portfolio of securities, evaluating the risks involved in taking and making some decisions, to calculating the Gross Domestic and Gross National Product of a nation, the list is endless.<\/p>\n<p>Managerial economics till a certain degree is dogmatic in nature as it suggests course of action to a managerial problem. Problems can be related to a variety of departments in an organisation like production, accounts, sales, etc.<\/p>\n<p>&nbsp;<\/p>\n<p>Almost any business decision can be analyzed with managerial economic techniques.<\/p>\n<p>&nbsp;<\/p>\n<p>Since the economic theory as a subject has its horizons in almost every area of work, the career prospects are abundant; a person can enter the field of marketing, become a financial adviser, stock broker, an analyst, an entrepreneur, etc.<\/p>\n<p><strong><a href=\"http:\/\/www.vskills.in\/certification\/Management\">Click here for government certification in Management<\/a><\/strong><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Managerial Economics- why effective human skills are important to develop professional managers With the expansion of Liberalization Privatization and Globalization (L.P.G.) policies and in this era of a non-static global business environment, it is essential as well as important to develop competent managerial talent for making resources useful and achieving high levels of competitiveness and&#8230;<\/p>\n","protected":false},"author":1393,"featured_media":42689,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[1533],"tags":[2138,6147,827,6191],"class_list":["post-42594","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-management-2","tag-gdp","tag-gnp","tag-management","tag-managerial-economics"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Managerial Economics - Vskills Blog<\/title>\n<meta name=\"description\" content=\"The concept of Managerial Economics... Apply for a Vskills certification in Economics now. Hurry up!\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vskills.in\/certification\/blog\/managerial-economics\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Managerial Economics - Vskills Blog\" \/>\n<meta property=\"og:description\" content=\"The concept of Managerial Economics... Apply for a Vskills certification in Economics now. Hurry up!\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.vskills.in\/certification\/blog\/managerial-economics\/\" \/>\n<meta property=\"og:site_name\" content=\"Vskills Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/vskills.in\" \/>\n<meta property=\"article:published_time\" content=\"2015-08-26T03:32:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-03T07:43:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/08\/Managerial-Economics.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"259\" \/>\n\t<meta property=\"og:image:height\" content=\"194\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Aradhana Badhwar\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Aradhana Badhwar\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/managerial-economics\/\",\"url\":\"https:\/\/www.vskills.in\/certification\/blog\/managerial-economics\/\",\"name\":\"Managerial Economics - Vskills Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/managerial-economics\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/managerial-economics\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/08\/Managerial-Economics.jpg\",\"datePublished\":\"2015-08-26T03:32:31+00:00\",\"dateModified\":\"2024-04-03T07:43:23+00:00\",\"author\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/#\/schema\/person\/1867fa89c6458d1eabb626d30e90a0d3\"},\"description\":\"The concept of Managerial Economics... Apply for a Vskills certification in Economics now. Hurry up!\",\"breadcrumb\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/managerial-economics\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.vskills.in\/certification\/blog\/managerial-economics\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/managerial-economics\/#primaryimage\",\"url\":\"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/08\/Managerial-Economics.jpg\",\"contentUrl\":\"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/08\/Managerial-Economics.jpg\",\"width\":259,\"height\":194},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/managerial-economics\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.vskills.in\/certification\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Managerial Economics\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/#website\",\"url\":\"https:\/\/www.vskills.in\/certification\/blog\/\",\"name\":\"Vskills Blog\",\"description\":\"Vskills - A Initiative in Assessment to Enhance Employability\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.vskills.in\/certification\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/#\/schema\/person\/1867fa89c6458d1eabb626d30e90a0d3\",\"name\":\"Aradhana Badhwar\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/0d49be89bd7528c50cd18b6b710386059458a91ce9eda857618f933f11e5b3d7?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/0d49be89bd7528c50cd18b6b710386059458a91ce9eda857618f933f11e5b3d7?s=96&d=mm&r=g\",\"caption\":\"Aradhana Badhwar\"},\"url\":\"https:\/\/www.vskills.in\/certification\/blog\/author\/aradhana-badhwar\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Managerial Economics - Vskills Blog","description":"The concept of Managerial Economics... Apply for a Vskills certification in Economics now. Hurry up!","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.vskills.in\/certification\/blog\/managerial-economics\/","og_locale":"en_US","og_type":"article","og_title":"Managerial Economics - Vskills Blog","og_description":"The concept of Managerial Economics... Apply for a Vskills certification in Economics now. Hurry up!","og_url":"https:\/\/www.vskills.in\/certification\/blog\/managerial-economics\/","og_site_name":"Vskills Blog","article_publisher":"https:\/\/www.facebook.com\/vskills.in","article_published_time":"2015-08-26T03:32:31+00:00","article_modified_time":"2024-04-03T07:43:23+00:00","og_image":[{"width":259,"height":194,"url":"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/08\/Managerial-Economics.jpg","type":"image\/jpeg"}],"author":"Aradhana Badhwar","twitter_misc":{"Written by":"Aradhana Badhwar","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.vskills.in\/certification\/blog\/managerial-economics\/","url":"https:\/\/www.vskills.in\/certification\/blog\/managerial-economics\/","name":"Managerial Economics - Vskills Blog","isPartOf":{"@id":"https:\/\/www.vskills.in\/certification\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.vskills.in\/certification\/blog\/managerial-economics\/#primaryimage"},"image":{"@id":"https:\/\/www.vskills.in\/certification\/blog\/managerial-economics\/#primaryimage"},"thumbnailUrl":"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/08\/Managerial-Economics.jpg","datePublished":"2015-08-26T03:32:31+00:00","dateModified":"2024-04-03T07:43:23+00:00","author":{"@id":"https:\/\/www.vskills.in\/certification\/blog\/#\/schema\/person\/1867fa89c6458d1eabb626d30e90a0d3"},"description":"The concept of Managerial Economics... Apply for a Vskills certification in Economics now. Hurry up!","breadcrumb":{"@id":"https:\/\/www.vskills.in\/certification\/blog\/managerial-economics\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.vskills.in\/certification\/blog\/managerial-economics\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.vskills.in\/certification\/blog\/managerial-economics\/#primaryimage","url":"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/08\/Managerial-Economics.jpg","contentUrl":"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/08\/Managerial-Economics.jpg","width":259,"height":194},{"@type":"BreadcrumbList","@id":"https:\/\/www.vskills.in\/certification\/blog\/managerial-economics\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.vskills.in\/certification\/blog\/"},{"@type":"ListItem","position":2,"name":"Managerial Economics"}]},{"@type":"WebSite","@id":"https:\/\/www.vskills.in\/certification\/blog\/#website","url":"https:\/\/www.vskills.in\/certification\/blog\/","name":"Vskills Blog","description":"Vskills - A Initiative in Assessment to Enhance Employability","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.vskills.in\/certification\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.vskills.in\/certification\/blog\/#\/schema\/person\/1867fa89c6458d1eabb626d30e90a0d3","name":"Aradhana Badhwar","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.vskills.in\/certification\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0d49be89bd7528c50cd18b6b710386059458a91ce9eda857618f933f11e5b3d7?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0d49be89bd7528c50cd18b6b710386059458a91ce9eda857618f933f11e5b3d7?s=96&d=mm&r=g","caption":"Aradhana Badhwar"},"url":"https:\/\/www.vskills.in\/certification\/blog\/author\/aradhana-badhwar\/"}]}},"_links":{"self":[{"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/posts\/42594","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/users\/1393"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/comments?post=42594"}],"version-history":[{"count":9,"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/posts\/42594\/revisions"}],"predecessor-version":[{"id":70476,"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/posts\/42594\/revisions\/70476"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/media\/42689"}],"wp:attachment":[{"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/media?parent=42594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/categories?post=42594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/tags?post=42594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}