Unit I
Nature, Scope and Importance of Managerial Economics. Relationship of Managerial Economics with Decision Making. Distinction between Micro and Macroeconomics.
Unit II
Individual Demand, Market Demand, Kinds of Demand, Determinants of Demand, Demand Functions, Functions, Demand Schedule and Law of Demand. Elasticity of Demand: Concept, Types, Measurement and importance. Demand Forecasting: Sources of Data-Expert Opinions, Surveys and Market Experiments; Time Series Analysis-Trend Projection; Barometric Forecasting-Leading Indicators, Composite and diffusion Indices.
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Unit III
Concept and types, Returns to Factor and Returns to Scale, Law of Variable Proportions. Cost concepts and Analysis: Concept of Cost, Short run and Lung-run Cost Curves, Relationships among various costs, Break-even Analysis. Revenue Curves: Concept and Types. Pricing in various markets: Perfect Competition, Monopoly, Monopolistic, Competition Oligopoly.
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Unit IV
Conceptual Framework, Measures of National Income, Methods of Measurement, Limitations of National Income. Inflation: Meaning, Types, Theories, Causes, Effects and Control. Balance of Payments Monetary and Fiscal Policies.
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Further References:
- H. Craig Petersen, W. Cris Lewis, Sudhir K. Jain, (2019), Managerial Economics, 8th Edition, Pearson Education
- Dominick, S., Siddhartha K. Rastogi (2018) Managerial Economics, Eighth Edition, Oxford University Press.
