overview It applies economic tools, ideas, and processes to help businesses solve actual challenges. As described, managerial economics is the fusion of financial and management statements. A manager who understands management economics is a wise decision-maker. Some call it business economics. It is the discipline of economics that applies microeconomic analysis to company and other management decisions. Managerial economics draws on quantitative tools like calculus, correlation, and regression. The sole commonality in management economics is the need to improve company decision-making, especially when faced with scarcity or limits. How Can An Engineer Use Managerial Economics? Managerial economics now benefits engineers as much as business managers. It is evident that each engineer must evolve and that the chances of developing are limited. Economics is a valuable subject for decision-makers, and engineers are no exception. Business economics or managerial economics should be ea...