MBA Managerial Economics + Decision Sciences

Managerial economics is a stream of management studies which emphasises solving business problems and decision-making by applying the theories and principles of microeconomics and macroeconomics. It is a specialised stream dealing with the organisation s internal issues by using various economic theories. Decision Science is the collection of quantitative techniques used to inform decision-making at the individual and population levels. It includes decision analysis, risk analysis, cost-benefit and cost-effectiveness analysis, constrained optimization, simulation modeling, and behavioral decision theory, as well as parts of operations research, microeconomics, statistical inference, management control, cognitive and social psychology, and computer science. By focusing on decisions as the unit of analysis, decision science provides a unique framework for understanding public health problems, and for improving policies to address those problems.