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    MBEV1001

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    MBEV1001

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    MBEV1001 MANAGERIAL ECONOMICS (3-0-0)

    Course Objectives:
    1. To lay an adequate theoretical foundation to study various applied fields in
    economics and management.
    2. To demonstrate the application of economic theory to business decisions.
    3. To develop a student’s ability to think analytically about the economic forces at work in
    society.
    4. To develop a framework which the students may use to analyze the overall behavior
    of a modern mixed economy.

    Module – I: Relevance of economics for business decisions,Scope of Managerial Economics,


    Role of Managerial Economist and Business decision making. Demand Analysis – individual
    demand and market demand, Determinants of demand, Elasticity of demand and its measures in
    business decision making, Demand Estimation and demand Forecasting, Supply Analysis.

    Module – II: Production functions: Short Run Production Function – Variable Proportions, Long
    Run Production Function - Returns to Scale; cost minimization and output maximization, various
    cost concepts, cost functions, Economies of scale and economies of scope (simple numerical
    problems to be solved).

    Module-III: Market morphology, price and output determination under different market
    conditions: Perfect competition, monopoly, monopolistic competition, oligopoly, Descriptive
    pricing approaches: Full cost pricing, product pricing; Price skimming, penetration pricing. Input
    pricing; Concepts of consumption, saving, and investment, Phases of business cycle, Inflation,
    Fiscal and Monetary policies, National Income.

    Course Outcomes:

    CO-1: Adopt the managerial economics concepts for business decision making. Also know the law
    of demand, its exceptions and the use of different forecasting methods for predicting demand
    for various products and services.
    CO-2: Analyse the different costs of production and how they affect short and long run decision.
    Derive the equilibrium conditions for cost minimization and profit maximization. Analyse
    economies of scale, diseconomies of scale and economies of scope.
    CO-3: Learn about the short run and long run equilibrium of a firm and industry and also about
    different market structure and various pricing techniques.
    CO-4: Analyse different phases of business cycle, Analyse the impact of cyclical fluctuation on the
    growth of business and lay policies to control business cycle.

    Reference Books:

    1. Managerial Economics, Geetika, Ghosh, Raychoudhury,TMH


    2. Managerial Economics, Salvatre, Srivastava,Oxford
    3. Managerial Economics, Keat, Young, Banerjee,Pearson,
    4. Managerial Economics, H L Ahuja, S.Chand
    5. Managerial Economics Theory and Applications, DM MithaniHPH
    6. Managerial Economics, PL Mehta Sultanchand&Co.
    7. Managerial Economics, DN. Dwivedi,Vikash

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