MANAGERIAL ECONOMICS RTMNU BBA 3rd Sem

Syllabus

Course Code: CC 7

Managerial Economics

Unit 1: Introduction to Managerial Economics

Introduction to Economics, Concept of Managerial Economics. Nature and Scope, Types of Economies – Capitalist, Socialist, and Mixed Economies. Concept of Utility, Types, Law of Diminishing Marginal Utility, Its Application. Indifference Curve Analysis, Consumer Choice Theories.

Unit 2: Demand Analysis

Demand Theory – Law of Demand, Exceptions and Assumptions. Elasticity of Demand, Types, and Its Role in Managerial Decision Making, Demand Forecasting, Techniques of Demand Forecasting.

Unit 3: Theory of Production and Analysis of Cost

Laws of Variable Proportions and Return to Scale, Isoquants and Isocost, Elasticity of Substitutions; Cost Concepts: Kind of Costs, Short Run and Long Run Cost Functions, Economies and Diseconomies of Scale.

Unit 4: Determination of Price and Output

Concept of Market Equilibrium and Revenue Curves, Characteristics of Different Market Structures, Price Determination and Firms Equilibrium under Perfect Competition, Monopolistic Competition, Oligopoly and Monopoly, Price Discrimination, Pricing Methods.