Managerial Economics

Paper Code: 
PED 152
Credits: 
4
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

The course aims at acquainting the students with the elementary concepts of economics, which is vital for effective managerial decision-making. An attempt has been made to familiarize the students with both, the Microeconomics as well as Macroeconomics.

9.00
Unit I: 
Meaning and Scope of Managerial Economics

Important factors influencing the managerial decisions of the firm
Utility analysis: Law of diminishing marginal utility, Equi-marginal utility.  
 

9.00
Unit II: 
Demand & Supply

Meaning, Law of demand & Supply, Elasticity of demand & supply (Price, income and cross elasticity), Factors affecting demand & supply.

9.00
Unit III: 
Production function

Concept, Short and Long run productive function, Laws of variable proportion, Isoquants, Returns to Scale, Internal and External Economies and Diseconomies, Least cost

9.00
Unit IV: 
Market structure

Meaning, Classification, and Characteristics & Price-output determination under Perfect Market, Imperfect Market & Monopoly

9.00
Unit V: 
Theory of Factor pricing

 Marginal Productivity Theory, Business Cycle.

Essential Readings: 

1.    Seth, M. L., Principles of Economics, Laxmi Narain Agarwal, Agra
2.    Mithani,D.M., Fundamentals of Economics, Himalya Publishing House,Mumbai
3.    Ahuja, H.L. , Business Economics, S.Chand & Company,New Delhi
 

References: 

1.    Jindal, M.L., Principles of Economics, Vikas Publishing House, New Delhi
2.    Salvatore, Dominick, Micro Economics, Oxford University Press, New  York
3.    Mukherjee,Debes, Business Economics Micro and Macro, New Central Book Agency, Calcutta

 

Academic Year: 
2018-2019
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