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The term of " Managerial Economics" is relatively new in business world and has been developed by the constant need of businesses to find reliable ways to facilitate decision making ! Managerial Economics use both Macro and Micro Economics to make business analysis as simple as possible!
Managerial Economics uses all economic theories and tools to analyze the business environment and mainly offers Demand Analysis and Forecasting, Profit Management and finally Capital management!
The full cooperation of social science such as economics and business management under the title of Managerial Economics as the globalization of businesses goes on is needed as a strong tool for large multinational companies . It makes decision making more responsible and far more successful.
Managerial economics is the "application of the economic concepts and economic analysis to the problems of formulating rational managerial decisions", " study of the production, distribution, and consumption of goods and services", "study of choice related to the allocation of scarce resources" It has a various scope of varieties such as : Production, Accounts, Sales, Demand decision, Production decision Plus All human economic activity..
