3. Managerial Economics 100 Marks
Course Content
a) The Meaning, Scope & Methods of Managerial Economics
b) Economics Concepts relevant to Business, Demand & Supply, Production, Distribution, Consumption & Consumption Function, Cost, Price, Competition, Monopoly, Profit, Optimisation, Margin & Average, Elasticity, Macro & Micro Analysis.
c) Demand Analysis & Business Forecasting, Market Structures, Factors Influencing Demand, Elasticities & Demand Levels, Demand Analysis for various Products & Situations, Determinants of Demands, Durable & Non-durable Goods, Long Run & Short Run Demand & Autonomous Demand Industry and Firm Demand..
d) Cost & Production Analysis, Cost Concepts, Short Term and Long Term, Cost Output Relationship, Cost of Multiple Products, Economies of Scale Production Functions, Cost & Profit Forecasting, Breakeven Analysis.
e) Market Analysis, Competition, Kinds of Competitive Situations, Oligopoly and Monopoly, Measuring Concentration of Economic Power.
f) Pricing Decisions, Policies & practices, Pricing & Output Decisions under Perfect & Imperfect Competition, Oligopoly & Monopoly, Pricing Methods, Product-line Pricing, Specific Pricing Problem, Price Dissemination, Price Forecasting.
g) Profit Management, Role of Profit in the Economy, Nature & Measurement of Profit, Profit Policies, Policies on Profit, Maximisation, Profits & Control, Profit Planning & Control.
h) Capital Budgeting, Demand for Capital, Supply of Capital, Capital Rationing, Cost of Capital, Appraising of Profitability of a Project, Risk & Uncertainty, Economics & probability Analysis.
i) Macro Economics and Business, Business Cycle & Business Policies, Economic Indication, Forecasting for Business, Input-Output Analysis.
Reference Text
1. Managerial Economics – Joel Dean
2. Managerial Economics: Concepts & Cases – Mote, Paul & Gupta.
3. Fundamentals of Managerial Economics – James Pappas & Mark Hershey.
4. Managerial Economics – Milton Spencer & Louis Siegleman.
5. Economics - Samuelson