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The study of the financial issues and challenges faced by corporations. Business economics is a field in economics that deals with issues such as business organization, management, expansion and strategy. Studies might include how and why corporations expand, the impact of entrepreneurs, the interactions between corporations and the role of governments in regulation.
However there is another term called 'Managerial Economics'. The objectives of Managerial Economics are explained at:
http://www.ehow.com/info_7894796_objectives-firms-managerial-economics.html
Business economics refers to the behaviour of firm against the market conditions and gives an indication of firm's behaviour on the operations of the company in past, present and future. Major decisions under business economics are are related to pricing policy, monetary policy, predicting economic impacts, measuring demand, and applying economic models to management decisions.
Under business economics firm strive to achieve:
1) Profit Maximisation
2) Cost minimisation
3) Technological Advancement
4) Return on investment
5) Customer Satisfaction.
6) Customer retention.
7) Sustainable development.
Business economists deal with firm behaviour in response to the market and determine how it will affect operations, today and tomorrow. Business economists are concerned with pricing policy, monetary policy, predicting economic impacts, measuring demand, and applying economic models to management decisions.
In business economics the goals of the firm are: 1) Profit Maximisation 2) Cost minimisation 3) Technological Advancement 4) Return on investment 5) Customer Satisfaction.
Agreed to Mr. Kamran Anjum
