MANAGERIAL ECONOMICS – I

Code: 1.2                                                                                   

           Total hours: 50                                                     Workload: 4 hours per week

Pedagogy: Lectures, Assignments, Cases etc. 

Objectives

 

  1. To familiarize the students with basic concepts of micro economics and its applications.
  2. 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.

                                                                                                                                      (6 hrs)

Module – II  

Demand and supply Analysis: 

  1. Demand: Meaning, Law of demand, factors influencing the demand.
  2. Demand Forecasting: Meaning, purposes and methods.
  3. Supply: Meaning, Law of supply, factors influencing supply.

(12 hrs)

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.

(12 hrs)

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.

                                                                                                                                  (14 hrs)

Module – V 

Profit: Break even analysis: Its meaning and computation, graphical representation.

                                                                                                                                      (6 hrs)

Suggested Books:

 

  1. Managerial Economics by D. M. Mithani, Himalaya Publishing House.
  2. Managerial Economics by P.N. Mishra, Pragat Prakashan, Meerut.
  3. Managerial Economics by R.L. Maheshwari