Overview: Economics background to management, Nature and
scope of Managerial Economics, Its relationship with other
Disciplines,
Significance in Decision-Making and Fundamental Concepts,
Theory of Firm, Objectives of a Firm

(4 Sessions)

UNIT –II

Demand Analysis: Demand Theory, Law of demand and
Determinants of demand, Cardinal Utility Analysis
Indifference Curve: Indifference Curve Analysis, Revealed
Preference Theory of Demand, Elasticity of Demand and its
Measurement Methods,
Demand Forecasting Demand Forecasting methods, Supply
Theory

(6 Sessions)

UNIT – III

Production: Production Concepts and Analysis, Production
Function,
Characteristics of various Factors of Production; Laws of
Production, Short-Run, Long –Run

(5 Sessions)

MID-TERM EXAMINATION

UNIT – IV

Cost Analysis: Cost Concepts and Analysis, Empirical estimates
of Production and Costs, Short-run and Long-run Average Costs
Curves and its Analysis

(4 Sessions)

UNIT – V

Pricing Decisions: Pricing under different Market Structure,
Perfect and Imperfect (monopoly, monopolistic and oligopoly)
markets,
Pricing strategies: Collusive and Non-Collusive Oligopoly
Baumol and Marris’ Models

(5 Sessions)

UNIT – VI

Macroeconomics: Science of Macroeconomics, Circular Flow
of Income & Products, National Income, Concept
Measurement of National Income: National Income

(6 Sessions)

aggregates (GDP, GNP, NNP, NDP etc.) at Factor and Market
Prices, GDP-Changing trends in composition and the future,
Money and Inflation
Consumption Function: Consumption function and Multiplier
& Accelerator Investment Function, Inflation, Unemployment &
Philips Curve