Coming soon
MANAGERIAL ECONOMICS (Theory)
|
Course |
Learning outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
|
|
Course Code |
Course title |
|||
|
25MBAS122 |
Managerial Economics (Theory) |
CO7: Analyze concept of utility & consumer’s equilibrium from the perspective of an organization. CO8: Critically assess the role of demand analysis in decision making processes within organizations. CO9: Apply cost output analysis techniques to real world business cases and scenarios. CO10: Evaluate different types of production function and examine the characteristics of various types for market to optimize production processes and resource allocation. CO11: Analyze and interpret various Macroeconomic factors affecting business situations. CO12: Contribute effectively in course-specific interaction |
Approach in teaching: Interactive Lectures, Group Discussion, Tutorials, Case Study
Learning activities for the students: Self-learning assignments, presentations |
Class test, Semester end examinations, Quiz, Assignments, Presentation |
Managerial Economics: Meaning, Nature and Scope of managerial economics. Constraints and Opportunity costs, Production Possibility Curve,
Consumer Behaviour: Utility and indifference curve approaches-meaning, law of diminishing, marginal rate of substitution, properties of indifference curve, price line, consumer’s equilibrium-conditions of consumer equilibrium, income substitution and price effect.
Demand analysis: Demand and law of demand, Normal Goods, Substitute Goods, Veblen Effect, Bandwagon effect, Network Externality, Snob Effect, determinants of demand on demand function, change in demand, elasticity of demand-degrees, Measurement of price elasticity of demand-total expenditure method, proportionate method, point elasticity method. Demand forecasting- Meaning and techniques of demand forecasting, Law of supply (Conceptual)
Cost and Output Analysis: Cost Concepts – Direct & Indirect Cost, Opportunity Cost, Sunk Cost, Fixed Cost, Variable Cost, Semi Variable Costs and Cost Output Relationship, Concepts of Revenue, Theory of Firm
Production Function: Short Run Production Function and Long Run Production Function Markets: Meaning, characteristics, types of markets-perfect and imperfect markets, Price and output determination in perfect competition, monopoly and monopolistic market.
Macro-Economic factors affecting Business- Business cycles, Inflation, National Income, Political stability, financial markets-Stock Market, Currency Market and Commodity Markets
*Case studies related to entire topics are to be taught.
Essential Readings:
• Satya P Das, Micro Economics for Business, Sage Publications Pvt. Ltd.
• Mathur, Yadav, Vyas, Business Economics, RBSA, Jaipur
• Jain,Khanna & Tiwari, “ Business Economics”,V K India enterprises,New Delhi.
• Adhikary, M. Business Economics., New Delhi, Excel Books, 2000.
Suggested Readings:
• Perloff & Brander, Managerial Economics and Strategy, Pearson Education
• Hirschey, M., Pappas, J. L., & Whigham, D. (1996). Managerial economics. Dryden Press.
• Keat, Paul G & Philips K. Y. Young, Managerial Economics, Prentice Hall, New Jersey,
E Resources:
• Microeconomics for Business, Satya P.Das, https://mithunjadhav.files.wordpress.com/2015/11/microeconomics-satya-pa..., Sage Publications 2007
Journals:
• Economic and Political Weekly
• The Economic Challenger
Suggested Readings:
•Perloff & Brander, Managerial Economics and Strategy, Pearson Education
• Hirschey, M., Pappas, J. L., & Whigham, D. (1996). Managerial economics. Dryden Press.
• Keat, Paul G & Philips K. Y. Young, Managerial Economics, Prentice Hall, New Jersey, E Resources:
• Microeconomics for Business, Satya P.Das, https://mithunjadhav.files.wordpress.com/2015/11/microeconomics-satya-pa..., Sage Publications 2007 Journals:
• Economic and Political Weekly
• The Economic Challenger
