Who Are We ?
The Institute of Managerial Economists of Nigeria is set out to bring economists, business administrators, managers and entrepreneurs together towards the enhancements of good and ethical practices as well as the adoption of managerial economics principles and concepts. Through training and retraining, conferences, symposia and seminars.
Decision making implies choosing the best course of action out of the available options aiming at the achievement of particular organizational objectives.
Since a business organization has available resources such as, capital, land and labour, a business manager needs to select the best alternative and employ the most efficient strategy, so as to attain the desired results. After a particular decision is made, implementation is of high importance. In this way, decision making and forward planning go conjointly.
Managerial economics aids decision making because it is the application of economics concepts, theories, laws and principles in management. In view of this, business executives should acquire managerial economics knowledge and skills.