Syllabus & Course Detail

Managerial Economics Course Code: 21MBA615 Credits: 4 Course Objectives:  To integrate economic theory with business practice and highlight the application of economic theory for business decision making.  To learn how economics analysis can be used in formulating business policies and take rational managerial decisions. Syllabus Unit 1-Managerial Economics: Managerial Economics - Concepts based on scarcity and optimization. Unit 2 - Managerial Economics: Fundamentals of Demand: Demand Function, Law of Demand and its Exceptions, Elasticity of Demand. Unit 3- Managerial Economics: Fundamentals of Demand: Price Elasticity of Demand, Degrees, Determinants, Measures, Income Elasticity of Demand, and Cross Elasticity of Demand Unit 4- Managerial Economics concepts: Consumer Behavior: Utility: Consumer Behavior: Theory of Utility, Concept of Marginal Utility, Law of Diminishing Marginal Utility. Unit 5- Managerial Economics concepts : Consumer Behavior Utility: Law of Equi- Marginal Utility. Indifference Curve Analysis: Properties, Budget Line. Unit 6-Production Analysis: Production Frontier, Short run and Long run Production Function. Unit 7-Production Analysis: Iso-quant Curves, Producer’s Equilibrium, Optimal Combination of Inputs and Economies of Scale. Unit 8- Production Analysis: Cost and Revenue Analysis: Theory of Cost and Revenue Analysis: Cost and Revenue Concepts: Long Run and Short Run Cost Curves. Unit 9- Production Analysis: Cost and Revenue Analysis Relationship between Total Revenue, Average Revenue, Marginal Revenue and elasticity of demand

Unit 10 - Production Analysis: Market Structure: Market Structure: Perfect Competition, Monopoly, Monopolistic Competition. Unit 11- Macro Economics: Macro Economics- Concept of National Income, its Methods of Measurement, andCircular Flow of Income. Unit 12- Macro Economics: Theories of Employment: Classical Theory and Keynesian Theory of Employment: A comparative analysis of Classical and Keynesian Theory of Employment with regard to their Assumptions. Unit 13- Macro Economics: Theories of Employment: Characteristics. Keynesian Tools: Effective demand. Unit 14- Macro Economics: Consumption Function: Consumption Function; Investment Function and Multiplier. Inflation: Concept, Causes and Theories of Inflation. Textbooks / Reference Books  Salvatore, D. 2116. Managerial Economics: Principles and Worldwide Applications, Eighth edition, Oxford University Press. ISBN: 978-0199467068.  Ahuja, H. L. 2117. Managerial Economics, Ninth Edition, S Chand Publishing. ISBN: 978- 9352535187.  Lewis, W.C., Jain, S.K., Petersen, H.C. 2105. Managerial Economics, Prentice Hall of India, Fourth Edition, New Delhi. ISBN: 9788177583861.  Mote, V.L., Paul, S. and Gupta, G. 2117. Managerial Economics, New Edition, McGraw Hill Education. ISBN: 78-0070965188.