Iqra University Islamabad Campus

Department of Management Sciences

Economic Analysis for Managers (ECO 501) Fall: 2012 Semester

For MBA students

Instructor: Dr. Khurrum S. Mughal Office: Management Sciences Block, Class Time and Place: Place: Class time:

Email: mughal@iqraisb.edu.pk Cell: +92-322-5555716 Internet: www.Iqraisb.edu.pk

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Course Description: The course is designed to provide guiding principles to future managers for informative and effective decisions in the economic environment of any firm, an environment which is subject to changes due to external and internal factors, often beyond the control of the management of a firm. The students will be trained through practical application of economic principles by evaluating case studies/taking quizzes given at the end of the class. Course Objectives: Upon completion of this course, the student should be able to: a. Understand economic terminologies and their practical application related to business environment. b. Identify major economic events affecting various business entities. c. Understand the various choices faced by economic agents with changes in their economic environment either external or internal. Course Material: a. Required Texts & Readings: Managerial Economics, 4th Edition,by H. Craig Petersen & W. Cris

II.

III.

Lewis
b. Recommended Readings: Articles from Managerial Economics in a Global Economy, 5th Edition, by

Dominick Salvatore
Principles of Business Economics, 2nd Edition by Jospeh G. Nellis &

David Parker
Econometrics, Indian Edition, by Jeffery M. Wooldridge Economist Weekly, Business Section.
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Introduction to Managerial Economics Scope of Managerial Economics The Theory of the Firm The Nature and Function of Profits Tools of Economic Analysis The Demand Theory Demand for Commodities Price Elasticity of Demand Income Elasticity of Demand Cross-Price Elasticity of Demand Using Elasticities The Production Theory Single Variable Production Function Multi Variable Production Function Economies of Scale Economies of Scope The Cost Theory Economic Concept of Cost Short-Run Cost Functions Profit Contribution Analysis Breakeven Analysis Operating Leverage Market Structure and Pricing Perfect Competition Monopoly Monopolistic Competition Oligopoly Pricing Decisions Pricing of Multiple Products Price Discrimination Product Bundling Peak-Load Pricing Locating a Firm n Global Economy Technology Change in a Global Economy

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The Instructor wishes you every success and hope you would enjoy the course and find it something that makes you worthy of market as an entrepreneur, a consultant or a manager.

Best of Luck!

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