Coming soon
Managerial Economics
Course Objectives: The objective of this course is to
- Acquaint the students with concepts and techniques used in Micro-Economic Theory Enable them to apply this knowledge in business decision-making using both micro and macroeconomic principles.
- Emphasis is given to changes in the nature of business firms in the context of globalization.
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Learning outcomes (at course level) |
Learning and teaching strategies |
Assessment Strategies |
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CO 7.Analyze concept of utility & consumer’s equilibrium from the perspective of an organization. CO 8.Analyze how changes in demand and supply affects the Business CO 9.Analyze consumer behaviour and consumer equilibrium. CO 10.Analyze relationships between production output & costs and between revenue and costs. CO 11.Distinguish different forms of markets. CO 12.Analyze Macroeconomic factors affecting business situations. |
Approach in teaching: Interactive Lectures, Group Discussion, Tutorials, Case Study
Learning activities for the students: Self-learning assignments, presentations |
Class test, Semester end examinations, Quiz, Assignments, Presentation |
Managerial Economics: Meaning, Nature and Scope of managerial economics.
Constraints and Opportunity costs, Production Possibility Curve,
Consumer Behaviour:Utility and indifference curve approaches-meaning, law of diminishing, marginal rate of substitution, properties of indifference curve, price line, consumer’s equilibrium-conditions of consumer equilibrium, income substitution and price effect.
Demand analysis: Demand and law of demand, Normal Goods, Substitute Goods, Veblen Effect, Bandwagon effect, Network Externality, Snob Effect,determinants of demand on demand function, change in demand, elasticity of demand-degrees, Measurement of price elasticity of demand-total expenditure method, proportionate method, point elasticity method. Demand forecasting- Meaning and techniques of demand forecasting, Law of supply (Conceptual)
Cost and Output Analysis: Cost Concepts and Cost Output Relationship
Concepts of Revenue, Theory of Firm
Production Function: Short Run and Long Run
Markets: Meaning, characteristics, types of markets-perfect and imperfect markets, Price and output determination in perfect competition, monopoly and monopolistic market.
Macro Economic factors affecting Business- Business cycles, Inflation, National Income, Political stability, Financial markets-Stock Market, Currency Market and Commodity Markets
