Not too easy. Not too difficult.
Managerial economics serves several purposes in business decision-making. provides a logical and experiential framework for analyzing the question. Managerial economics is the application of economic theory to economic practice with an aim of ensuring that business decisions meet their intended goal. It is through management economics that a business understands how to access and utilize scarce resources to ensure optimal performance of the same to generate revenues and profits. The application assists in decision making with regards to issues about optimum production, profit maximizing prices and type of product among other economic variables.
A manager may apply data or an operating model in analyzing risks inherent in adding capacity or changing a product lineup, in shifting employee tasks to improve efficiency without adding turnover, or in adjusting prices. A student could focus an APA-formatted paper on a challenge a business faces, as documented in recent news. He or she could include a thesis and supporting detail in presenting a managerial-economics solution. For example, the Disney-owned ESPN sports network faces higher programming costs at the same time customers move away from the many-channel menus offered by traditional cable and satellite companies. Online retail platform Alibaba may need to get bigger given stiff competition from Amazon. Since ESPN and Alibaba both see strong demand for their offerings, they need to tap that demand more effectively. They can use managerial economics to help determine how.
Hours per week:
Advice for students:
just need dedication and motivation. Do not need to study longer period of time but small amount of time in a timely manner, like 1 or 2 hours every day or at least 4 to 5 days a week. and nobody can stop you from success.