Managerial Economics

Abstract

The Book under review claims to deal with a core subject of importance in business education. Economics cannot be taught as a subject of just 'firm relevance' or as a subject connected with business policy and governance. The treatment of the subject requires induction of the knowledge and of application to the business world. The students of business are not to be prepared as economists; they are however to be prepared as decision makers who would make firm level decisions based on endogenous and exogenous factors. The book under review has a special place in the realm of management education with special reference to Indian context. The book deserves appreciation for the conversational style of narration. The delivery of chapters is done logically and in a sequence. The book has several special features at the end of each chapter such as summary, key concepts, question, appendix and case study. The authors deserve a special praise for their painstaking efforts in crafting 'Reality Bites'. The real life situations which are reflected as detailed case studies, enable students to study the concepts through the reading of a case. The book has a value added concept to enable formal and lateral thinking by the introduction of 'think out of the box' and 'think of the box' narratives. The description given so far is sufficient to recommend the book for the students of MBA programme in India.