Managerial Economics Syllabus

 

S. No.	Description
1.	Introduction  to Managerial  Eco11omics: Scope of Economics, Economic Principles  relevant  to Managerial Decisions, Relationship of Managerial Economics with Decision Sciences.
2.	Market Demand and Supply: Determinants of Demand, Basis for Demand; Direct and Derived demand; law of Demand, law of Supply, Market Equilibrium. Consumer Behaviour.
3.	Utility analysis: Cardinal and Ordinal utility, Equi-marginal utility. Indifference curve and its properties. Consumer Equilibrium with Cardinal and Ordinal approach, Consumer surplus, Price, Income and Cross Elasticities of Demand.
4.	Production Theory: Production Functions with one variable and two variable inputs, Producers' Equilibrium, Expansion Path, Total, Marginal and Average Revenue curve; law of Diminishing Returns to Factor; Returns to Scale.
5.	Cost  Analysis: Types of Costs; Short Run and Long Run Cost Curves; Economics of Scope and Economies of Scale. Revenue Analysis: Types of Revenue Curves and their applications.
6.	Market   Structure:  Perfect Competition; Assumptions,   Price  and  Output  determination   in  Perfect Competition in Short and Long run.
7.	Imperfect Competition: Monopoly-Features; Price and Output decisions; Price Discrimination.
8.	Monopolistic Competition: Features; Price and Output decisions; Short and Long run Equilibrium.
9.	Oligopoly: Features; Cartels and Collusions (introductory); Kinked Demand curve.
10.	National  income: Concepts, Methods of measuring National  Income, Problems in measuring National Income, Circular Flow of Income in 2 Sector and 4 Sector model.