Managers, firms and markets; demand, supply, and market equilibrium; elasticity and demand; fundamentals of managerial decision-making -the theory of optimisation; basic estimation techniques; theory of consumer behaviour; empirical demand functions; demand forecasting; theory of production and cost in the short run; theory and production of cost in the long run; empirical analysis of production and cost; managerial decision-making in perfectly competitive markets; profit maximisation in perfectly competitive markets - implementation of the theory; managerial decision making for firms with market power; oligopoly - decision making with mutual interdependence; profit maximisation for firms with market power - implementation of the theory; multiple plants, markets, and products; decision making under risk and uncertainty; the investment decision.

Meant for students on how to use microeconomic theory to analyze business decisions. This book explores the market forces that create both opportunities and constraints for business enterprises

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