Managerial Economics

Paper Code: 
MAM 122
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

Course Outcomes

Learning and teaching strategies

Assessment Strategies

On completion of this course, the students will be able to;

 

CO 7. Analyze concept of utility & consumer’s equilibrium from the perspective of an organization.

CO 8. Analyze how changes in demand and supply affects the Business

CO 9. Analyze consumer behaviour and consumer equilibrium.

CO 10. Analyze relationships between production output & costs and between revenue and costs.

CO 11. Distinguish different forms of markets.

CO 12. Analyze Macroeconomic factors affecting business situations.

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

 

12.00
Unit I: 

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.

12.00
Unit II: 

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)

12.00
Unit III: 

Cost and Output Analysis: Cost Concepts and Cost Output Relationship
Concepts of Revenue, Theory of Firm

12.00
Unit IV: 

Production Function: Short Run and Long Run
Markets: Meaning, characteristics, types of markets-perfect and imperfect markets, Price and output
determination in perfect competition, monopoly and monopolistic market.

12.00
Unit V: 

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.

References: 

 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,

Academic Year: 
2022-2023
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