Total hours: 50 Workload: 4 hours per week
Pedagogy: Lectures, Assignments, Cases etc.
- To familiarize the students with basic concepts of micro economics and its applications.
- To acquaint the students with different micro concepts for choosing the alternatives.
Module – I
Definitation, Nature and scope of Managerial Economics. Micro and Marco Economics: Meaning, Importance and its limitations, Nature and scope of managerial economics.
Module – II
Demand and supply Analysis:
- Demand: Meaning, Law of demand, factors influencing the demand.
- Demand Forecasting: Meaning, purposes and methods.
- Supply: Meaning, Law of supply, factors influencing supply.
Module – III
Production and cost analysis production: Factors of production (only meaning) returns to scale, economics of scale.
Cost: Cost concepts: TFL, TVL, TL, AL and ML their meanings and computation, cost curves in short run and long-run.
Module – IV
Market structure and pricing practices.
Market: Perfect competion, monopoly, oligopoly and monopolistic competion: Features and price and output determination.
Pricing policies and practices: Skimming and penetration, price discrimination and price leadership.
Module – V
Profit: Break even analysis: Its meaning and computation, graphical representation.
- Managerial Economics by D. M. Mithani, Himalaya Publishing House.
- Managerial Economics by P.N. Mishra, Pragat Prakashan, Meerut.
- Managerial Economics by R.L. Maheshwari