Economics For Business

Description

Buy Economics For Business Used Books Online India, Authored by d.m. mithani, Himalaya Publishing House in paperback binding in business & economics genre from Used Book Store.

This book provides a comprehensive exploration of core economic principles, ideal for students and enthusiasts alike. It delves into the foundational nature of economic analysis, covering classical, neo-classical, and modern definitions. Key topics include the central problems of economic societies, production possibility curves, the subject matter of economics, and the distinction between normative and positive economic science. The book also examines the methodologies of economics, including microeconomic and macroeconomic analysis, economic statics versus dynamics, the nature of economic laws, and fundamental assumptions in economics. The practical significance of economics and its relationship with other sciences are also discussed. Further chapters focus on Business Economics, defining its meaning, nature, and process. It clarifies the relationship between economics and business economics, highlighting differences, scope, and methods, and explores the application of economic principles to business contexts, including the role and responsibilities of a business economist. Consumer behavior is analyzed through both the cardinal approach of marginal utility, covering concepts like utility, the law of diminishing marginal utility, the law of equi-marginal utility, consumer surplus, and demand variations, and the indifference curve analysis. The latter explores indifference schedules, curves, maps, properties, price lines, consumer equilibrium, the derivation of the demand curve, and criticisms of the approach. The book also dissects the concept of elasticity of demand and supply, examining price, income, and cross-elasticity, as well as the factors influencing them and their significance. Production is explored in detail, starting with the factors of production (labor, capital), mobility of factors, division of labor, and industrial localization. The theory of production covers production functions, short-run and long-run periods, the law of variable proportions, economies and diseconomies of large-scale production, and the principle of returns to scale. Cost of production is analyzed through short-run and long-run cost behaviors, including measurement and relationships between various unit costs. Market structures are examined, including different forms of market morphology and the theory of value. The book concludes with an in-depth look at pricing under perfect competition, including price determination, the significance of time, market versus normal prices, and changes in equilibrium price. It also covers the equilibrium of the firm and industry, profit concepts, and the conditions for profit maximization in both short and long periods for competitive firms.

About the Author

Professor D.M. Mithani, an esteemed scholar with a Master’s Degree and Ph.D. in Economics and Finance from the University of Mumbai, brings over five decades of profound teaching and academic leadership to his work. His extensive experience includes serving as Head of the Economics Department at Maharashtra College of Arts, Science and Commerce and as visiting faculty at prestigious institutions like Narsee Monjee Institute of Management Studies (NMIMS). Professor Mithani has also shared his expertise internationally, with long-term associations at Universiti Utara Malaysia, Prince of Songkhla University in Thailand, and Thaksin University. His distinguished career has also seen him as an Adjunct Professor and Professor Emeritus, and he was an elected member of the Executive Committee of the Indian Economic Association. A prolific author, Professor Mithani has authored over 50 books in Economics and Management, contributing extensively to numerous national and international journals, seminars, and conferences. His influential publications include Beyond Rhythms of Management, Management Economics, International Economics, and Global Trade and Finance.

9789355965035 ISBN
Business & Economics