Business economics, the subtopic in Business Management, is a field of applied economics. This subject uses economic theory and quantitative methods to analyze business enterprises, managerial schemas, the economic factors in terms of profit & loss thereby contributing to the diversity of organizational structures. Business Economics underlies the basic relationships of firms with labor, Capital and product markets to ascertain the economic factors of any nations. Managerial Economics or Business Economics is the scientific study of ‘money economics’ in business. Every organizational structure is a business entity that looks upon the major principles of economics to give business a proper shape. The subject business economics mainly deals with the practical applications of economic theory propounded by reputed economics around the world. Since this subject is also called “applied economics” so its rhythm has been interwoven with applied mathematics such as statistics, probability, transportation are few names to be counted.
Business Economics is a blend of economics & applied mathematics that constitutes the subject as a whole. It is read in Business Administration level. In MBA, this subject is compulsory for likely to be managers in any industry. Management Universities such as IIM all over the countryincluding several government run universities like Calcutta University, Burdwan University have put this subject as a foundation course. Many private institutions or deemed universities which provides management degree through distance learning system are not the least to put Business Economics as a primary course. Anyone who wants to pursue MBA they have to study Business Economics to understand the present business environment of our country.
RAPCCE-Ramniranjan Anandilal Podar College of Commerce and Economics
University of Mumbai
B.Com-Bachelor of Commerce
R. A. Podar College of Commerce and Economics, Mumbai was founded in the year 1942 and is affiliated to the University ...