Slides

MANAGERIAL ECONOMICS

Course Credit: 02

Course Duration: 30 hours

Objectives of the Course:

• To acquaint the students to economic theory and its use in business decisions

• To gain insights into how customers derive value from the products you manufacture and how to produce these products efficiently

• To lay the foundation for rational decision making in the face of complex trade-offs, imperfect information and uncertainty

• To gain a micro and a macro-perspective for decision making

Session Details

Session 1

Introduction to the Course

• Detailed Course Plan

• Objectives to be accomplished

• Specification of

o Reference Books & Additional Inputs

Introduction to Managerial Economics

Session 2

Basic Economic Concepts

• Opportunity Cost Concept

• Incremental Concept

• Marginal Concept

• Time Perspective

• Discounting Principle

• Spillover Concept

• Risk and Uncertainty

• Information Asymmetry

Session 3

Demand Analysis

• Concept of Demand

• Factors affecting Demand

• Shift, Contraction, Expansion

• Elasticity and its Measurement

Session 4

Consumer Behavior

• Utility Analysis

Session 5

Supply analysis

• Factors

• Shift, Contraction, Expansion

• Elasticity and its Measurement

Session 6

Production Analysis

• Production Function

• Isoquants

• Long run and Short run Production

Session 7

Economies of Scale and Scope

• Internal and External Economies

Session 8

Cost Concepts

• Short run and long run cost concepts

Session 9

Pricing Theories

• Types of Pricing

• Transfer Pricing

• Basing Point System

Session 10

Revenue Concept

• Concept

• Arriving at the Equilibrium of the Firm

Session 11

Market Structures

Session 12

Market Structures...