Managerial economics (BM4404) is the "application of the economic concepts and economic analysis to the problems of formulating rational managerial decisions". Managerial Economics introduces students to the use of economic analysis for business decision-making. Economic theory and quantitative methods are applied to managerial decision involving prices, production, and profit maximization. It is an important module for this MBA as the module encourages critical understanding of economics in the field of business.