who is managerial economist
Answers
Answer:
A managerial economist plays a vital role in the decision-making process of an organization. He/she is responsible for assisting the top management of an organization to make efficient business decisions. A managerial economist is also called business economist or economic advisor.
Explanation:
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A managerial economist is a professional who basically deals with various internal and external aspects of business operation and managerial decision making that are essential for the economic success of any company or firm.
Explanation:
Managerial economists basically analyze and advice on the various factors and attributes that are associated with the short term and long term economic or financial success of any business organisation or firm.These attributes or factors are integral parts of the managerial functions and decision making process in any firm such as pricing of the products and services,effective management of the respective organisational departments,optimal production level,optimal employment of factors/inputs of production,profit and cost minimization in business,monitoring of various monetary or financial indicators such as costs and revenue and so forth.Hence,these are the primary and main responsibilities of the managerial economists which are essential for regular business and managerial operations.The managerial economists also typically advise on the business/managerial decision making pertaining to future business planning and important market projections that are key to the long term economic success of any firm or business organisation.