FILENAME: MANAGERIAL ECONOMICS.

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Course number Course Title Credits Contact Hours (L-T-P) Course Objective

1 2 3 4

HMM206 Managerial Economics 3 3-0-0 The course aims to develop students capacity to analyse the economic environment in which business entities operate and help them understand how managerial decisions can vary under different constraints that the environment places on a manager. 1. Define the key concepts in microeconomics and understand the managerial decision making process. 2. Explain how prices adjust to shifts in the determinants of the underlying supply and demand structures. 3. Demonstrate a sound understanding of demand theory, costs and profit analysis, perfect and imperfect competition, and market and organisation structures. 4. Analyse the economic environment in which business entities operate. 5. Understand how managerial decisions can vary under different constraints 6. Apply modern principles and methods of microeconomics to real-world business problems 7. Enable the students to approach managerial decision problems using economic reasoning. 8. Help the students learn market structures Introduction to managerial economics Introduction to economics, circular flow of goods & services Basic problem of an economy scarcity of resources with multiple uses & unlimited ends Basic problems of business and management decisions and underlying paradigms Cardinal & Ordinal Demand Analysis Concepts : needs, desire, want and demand, Individual Demand & Market Demand Law of Demand, change in demand & shift in demand function Concepts of utility: Total, Average & Marginal Elasticity Elasticity of Demand- concept and measurement; Price & Income Elasticity and Decision Making Market Demand Concept and Derivation Demand Forecasting Production & International Trade Introduction to the theories of production & cost Law of variable Proportions; Law of Return; Revenue Curves of a firm Basis of International Trade, gains from trade, factor endowment & mobility Market Structures Price output decisions of the firms under alternative market structures Perfect Competition; Monopoly; Monopolistic and oligopolistic competition Different Theories and Models; shut- down points

6 7 7.01 7.02 7.03 7.04 7.05 7.06 7.07 7.08 7.09 7.10 7.11 7.12 7.13 7.14 7.15 7.16 7.17 7.18 7.19 7.20

Course Outcomes Outline syllabus: HMM206.A Unit A HMM206.A1 Unit A Topic 1 HMM206.A2 HMM206.A3 HMM206.B HMM206.B1 HMM206.B2 HMM206.B3 HMM206.C HMM206.C1 HMM206.C2 HMM206.C3 HMM206.D HMM206.D1 HMM206.D2 HMM 206.D3 HMM 206.E HMM 206.E1 HMM 206.E2 HMM 206.E3 Unit A Topic 2 Unit A Topic 3 Unit B Unit B Topic 1 Unit B Topic 2 Unit B Topic 3 Unit C

Unit C Topic 1 Unit C Topic 2 Unit C Topic 3 Unit D Unit D Topic 1 Unit D Topic 2 Unit D Topic 3 Unit E Unit E Topic 1 Unit E Topic 2 Unit E Topic 3

8 Course Evaluation 8.1 Course work: 30% 8.11 Attendance None 8.12 Homework Three best out of 4 assignments ; 20 marks 8.13 Quizzes Two 30 minute surprise quizzes; 10 marks 8.14 Projects None 8.15 Presentations None 8.16 Any other None 8.2 MTE One, 20% 8.3 End-term examination: 40% 9 9.1 References Text book Managerial Economics by D. N. Dwivedi 7th edition, Vikas Publishing 1. Managerial Economics by Petersen, Lewis and Jain 4th edition, Pearson 2. Managerial Economics by Prof. ABN Kulkarni and Dr. A. B. Kalkundrikar, 2009, R. Chand & Co. 3. Economics by Paul A. Samuelson 19th edition, Tata McGraw Hill 4. Managerial Economics by Dr. D. M. Mithani 5th edition, Himalaya Publishing House

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