Managerial Economics

Syllabus

18MBA101: Managerial Economics

Module-I

Relevance of Economics for Business Decisions, Role of Managerial Economist and Business Decision-Making. Demand Analysis – Individual Market and Firm Demand, Determinants of Demand, Elasticity Measures and Business Decision-Making, Demand Estimation and Demand Forecasting, Supply Analysis.

Module-II

Production Functions: Single variable – Variable Proportions, two Variables–Returns to scale; Cost Minimisation and Output Maximisation, Various cost Concepts, Cost Functions, Economies of Scale and Economies of Scope (Simple Numerical Problems to be Solved).

Module-III

Market Morphology, Price and Output Determination Under Different Market Conditions – Perfect Competition, Monopoly, Monopolistic Competition, Oligopoly, Descriptive Pricing Approaches – Full Cost Pricing, Product Pricing; Price Skimming, Penetration Pricing. Input Pricing; Concepts of Consumption, Saving, and Investment, Phases of Business Cycle, Inflation, Fiscal and Monetary Policies.