Over the past thirty years, the growing influence of microeconomics and industrial organization economics in every field of business analysis has transformed the role of managerial economics in business school curricula. Economics have understood for some time that every modern course in business strategy and organizational architecture must draw from key areas of advancement in microeconomics and industrial organization.
The objective of managerial economics, then, is to teach and apply the foundation topics in microeconomics and industrial organization essential for making both the day to day business decisions that maximize profit as well as the strategic decisions designed to create and protect profit in the long run.