Spend some time here to keep abreast with the latest information in managerial economics. Go through simplified and free information on your terms.
Armed with the underlying economic reasoning in different concepts, you may get enthusiastic applause - Even a Standing Ovation- for your opinion - whenever you are asked!
What choices we have to make in our managerial life...?
Many on day to day basis!
Managers have to choose between alternative courses of actions for allocation of the scarce resource like:
• Being a private firm’s finance manager, you might have to select the product or service where you can invest funds for maximization of profits.
• Being a public manager, you may have to prioritize among needs for education, health or infrastructure within the available budget.
• You may have to choose between adding a new block or improving emergency equipment, being a hospital manager.
• What is more beneficial to promote as a market manager?
• What can you compromise; speed or quality?
The questions and answers go on.
This site a little attempt to find out answers for some of these questions. Having 20 years experience in public management and armed with alumni statutes from Lee Kuan Yew School of Public Policy, National University Singapore and Harvard Kennedy School of Public Policy Harvard, we can discuss practical issues in the management, public or private.
Let’s start from sayings of a great economist, Mukul Asher Professor of Economics at Lee Kuan Yew School of Public Policy:
"Little knowledge of (managerial) economics is very dangerous."
This website is nothing more than my little effort to keep out of the danger zone and help other managers to navigate safely. There are positive as well as negative externalities while you go through different pages of this website. The managers, as well as the students of management, can enjoy all positive externalities. Negative externalities may be for me as well as my prestigious institutions and teachers who may have to feel bad for my mistakes.
I don’t claim any mastery over the managerial economics. But I have been working as an old-school public manager for last 20 years. Then I joined schools to understand the latest currents in the field.
I can share the latest tips besides the difficulties which you can face in old ‘administration’ environment.
I have read somewhere that ‘to be good managers you need to be a good economist.' Following the spirit, I am dedicating this website and club to the managers who want to resolve complex issues that they face in their daily lives. Most of the management issues related to allocation of scarce resources. That's why I am focusing on the economic reasoning in management decision.
Feel free to share your opinions to improve this website either through web 2.0 options or use “Contact Us” form at the left side navigation.
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Saqib Ali Ateel
Oct 07, 19 02:55 PM
Running of companies without any management rules seems a far-fetched idea. However, recent experiments show that if properly executed, it can end management era.
Oct 07, 19 02:47 PM
Profit maximization is the goal of every financial manager for a company. Go through a few key points for profit maximization.
Jul 30, 19 03:50 PM
The Pythagorean Theorem related the side length of the three sides of a right angled triangle (c^2 = b^2 + a^2). What you describe above is nothing to