ANTHONY JOHN A.

BRIONES BSAIS BLOC 2

1. What do you expect to learn about Managerial
Economics?
Managerial economics provides us with sufficient
knowledge of economics necessary for decision-making within a
firm. This will help you develop into becoming an effective
manager in the future whose decision is based on critical analysis.
Managerial economics is defined as the branch of economics
that deals with the application of various concepts, theories, and
methodologies of economics to solve practical problems in
business management. It is also reckoned as the amalgamation of
economic theories and business practices to ease the process of
decision-making. Managerial economics is also said to cover the
gap between the problems of logic and problems of policy.
I expect that this subject will help in problem-solving and
reasonable issues, as well it helps me make better decisions and
develop my analytical skills. I also expect that our teacher will arm
us with the information we require to develop and become
better.
2. Why do you need to study economics?
People who study economics are better able to understand
their environment. People can better respond to problems and
opportunities presented by changing circumstances by being able
to understand other people, companies, markets, and
governments. Law, risk management, actuarial work, finance,
international affairs, public administration, politics, policy
analysis, health administration, entrepreneurship, market
research, journalism, and undiscovered fields of the future are
just a few of the career paths that economics majors are well-
suited for.
There are many ways to define economics. One of three
things is being studied: scarcity, resource use, and incentive
responses, or decision-making. Although it frequently discusses
financial and wealth-related topics, it is not just about money.
Because of the broad area of economics, we may comprehend
historical trends, interpret current headlines, and forecast future
trends.
Fundamentally, economics is the study of how to weigh
options and make wiser decisions. Making wise selections
requires the development of critical thinking and problem-solving
abilities. It improves the ability to analyze facts and make
informed judgments.
3. Why do you think that it is important for you, as BSA
students, to learn this subject?
Managerial economics is the study of how to assess options
and make wiser decisions. Making wise selections requires the
development of critical thinking and problem-solving abilities. It
improves the ability to analyze facts and make informed
judgments. Both the public and private sectors are in need of
workers with these talents.
Whatever the future holds, management economics aids in
our success as well as that of us students and other people.
People can make better judgments and solve more issues if they
understand how markets operate, how rules affect results, and
how economic forces shape social institutions. This correlates to
achievement in both job and life.