Managerial Economics

Syllabus

Course Code: M24-MBA-102

Managerial Economics

UNIT-I

Nature and Scope of Managerial Economics. Marginal and Incremental Analysis. Understanding Demand and Demand Function: Law of Demand, Elasticity of Demand and its Significance in Managerial Decision-Making.

UNIT-II

Consumer Equilibrium- Cardinal Utility Analysis; Law of Diminishing Marginal Utility and Equi-Marginal Utility. lndifference Curve Approach; Price. Income and Substitution Effects; Essentials of Demand Estimation and Forecasting.

UNIT-III

Theory of Production: Production Function, Law of Diminishing Returns, Increasing Returns, Variable Proportions and their Applicability. Cost Analysis: Types of Cost, Short Run and Long Run Cost Curves, Economies and Diseconomies of Scale.

UNIT-IV

Market Structures: Types of Market Structures and their Features, Price and Output Determination under Perfect Competition, Monopoly, Monopolistic Competition, and Oligopoly. Pricing Strategies and Tactics. Inflation- Types, Measurement and Control.