MANAGERIAL ECONOMICS

HC4B
UNIT - I Nature and Scope of Managerial Economics
Meaning - Nature and Scope - Scarcity - Choice and allocation - Decision Making
Techniques - Marginalism - Equi-Marginalism and Opportunity Cost - Principles - Risk and
Uncertainties.
UNIT - II Demand Analysis and Forecasting
Demand Theory - Types of Demand - Demand Elasticity - Elasticity of Demand and Marginal
Revenue - Uses of Elasticity - Decision Making - Estimation of Demand Function - Demand
Forecasting - Quantitative and Qualitative Techniques.
UNIT - III Production Analysis
Production Function - Returns of Factors - Production Decision - Isoquant - Isocost Production Possibility Frontier - Expansion Path - Optimum Product Mix of Multi-Product
Firm - C.S. Function.
UNIT - IV Cost, Revenue and Profit Analysis
Cost Theories - Applications and Types of Costs - Derivation of Cost Functions - Revenue Concepts - Functions - Break Even Analysis - Economies of Scale Vs Economics of Scope Profit Maximization Vs Sales Maximization - Accounting Profit Vs Economic Profit Theories of Firm.
UNIT - V Market Structure and Product Pricing
Features - Output - Pricing Decisions in Different Markets - Equilibrium of Firm and Industry
- Monopoly Power Welfare Triangle - Pricing and Output Decisions - Differential Pricing Mark Up Pricing - Government Intervention in Pricing.