Course Curriculam

Course Code: ECON605 Credit Units L T P/S SW AS/DS FW No. of PSDA Total Credit Unit
Course Level PG 2 0 0 2 0 0 0 3
Course Title Managerial Economics
To familiarise the students with required tools of economic analysis and elementary mathematical orientation. 2.To familiarise the students
Course to make optimal use of economic concepts in analysing the contemporary economic issues that a manager has to incorporate into his
Description : business strategies to achieve specified objective function.

Course Objectives :

SN
Objectives
.
To familiarise the students with required tools of economic analysis and elementary mathematical orientation. 2.To familiarise the students to make
1 optimal use of economic concepts in analysing the contemporary economic issues that a manager has to incorporate into his business strategies to
achieve specified objective function.

Pre-Requisites : General

SN. Course Code Course Name

Course Contents / Syllabus :

SN. Module Descriptors / Topics Weightage

Nature and scope of economic analysis: its relevance for a managerial decision making, Demand analysis: nature of
demand for a product- individual demand and market demand, demand by market segmentation. Demand function
Theory of
and determinants of demand. Supply function: determinants of supply of a product, law of supply. Elasticity of supply.
1 demand 25.00
Concept of elasticity of demand- income, cross, price and advertizing elasticity. Theorems on the price elasticity of
and supply
demand. Applications of the concept of price elasticity of demand in business decisions. Demand forecasting-- need
for forecasting and techniques of forecasting
Production analysis: production function-- neo-classical, Cobb- Douglas, Leontief. Least cost combination of inputs for
a firm. Concept of an isoquant-- smooth curvature and right angle. Returns to scale and returns to a factor. Expansion
Theory of
path of a firm. Cost Analysis: Costs relevant for management decision making. Economies of scale: Internal and
2 production 25.00
External ,Cost Function: Cost and output relationship. Short Run and Long run. An Analysis of the Objectives of a
and cost
Business Firm: Profit Maximization Model, Baumoul’s Sales Maximization Model, Marris’s Model Of ‘Managerial
Enterprise' Williamson’s Model Of 'Managerial Discretion
Market
Pricing And Output Decisions – Perfectly Competitive And Monopoly Markets Pricing And Output Decisions –Under
structure:
Monopolistically Competitive Market-- Product Differentiation; Price Discriminating Monopolist; Models Of Oligopolistic
3 price and 25.00
Market :Price Rigidity-- The Kinky Demand Curve Model Interdependence-- The Cournot Model, Price Leadership
output
Models, Cartels And Collusion,
decisions
Emerging issues for Vikshit Bharat,Economic Policy and Analysis: Macro Economic Variables and Functional
Relationships. Business Environment: An Exogenous Variable. Factors Influencing the Business Environment.
National Income Analysis:. National Income Aggregates. Approaches to National Income Measurement. Models of
Macro
Circular Flow of Money- Incorporating Savings, Investment, Foreign Trade and Government Sector. Models of Income
Economic
Determination with emphasis on Keynesian Model. Concept of Investment Multiplier. Factors Influencing Consumption
Analysis
Function- Objective, Subjective And Structural. Demand and Supply of Money: Transaction, Precautionary and
4 and 25.00
Speculative Demand for Money; Liquidity Preference Function; Components of Money Supply. Business Cycles: An
Business
Analysis of the Fluctuations in the Level of Economic Activity. Phases of Business Cycles. Inflation and Deflation:
Environmen
Demand - Pull and Cost -Push Inflation. Impact Of Inflation On Employment, Price Level And Other Macro Economic
t
Variables An Analysis Of Policies To Control Inflation. Deflation. Monetary Policy: Objectives of Monetary Policy.
Functions of Central Bank. Credit Policy and Its Implications on the Corporate Sector. Fiscal Policy: meaning
,objectives and impact on economy. Money Market ,Capital Market and Foreign Exchange Market
Course Learning Outcomes :

SN. Course Learning Outcomes

Develop a good understanding about the basic concepts of economics and objectives of business • Students will comprehensively understand,
1 interpret, compare & contrast, explain How demand and supply equilibrium is important for business and Various cost and production functions and
also the market structures
• Analyze the Constituents and influence of various environmental factors on strategic choices. An overview of macro economics will be a precursor
2
for making business decisions
3 • Interpret the basic concepts of National Income and the related concepts

Pedagogy for Course Delivery :

SN. Pedagogy Methods

Extensive use of case studies shall be made to develop practical approach and inclination. • Innovative discussions shall be carried out in class so
1 that students learn to think liberally using current knowledge base. • Case studies shall be used to develop some of the concepts • Students shall
be encouraged to give presentations on the related issues in the current economic environment

Theory /VAC / Architecture Assessment (L,T & Self Work): 100.00 Max : 100

Attendance+CE+EE : 5+45+50

SN. Type Component Name Marks

1 Attendance 5.00
2 End Term Examination (OMR) 50.00
3 Internal MID TERM TEST 10.00
4 Internal HOME ASSIGNMENT 10.00
5 Internal PRESENTATION 10.00
6 Internal PROJECT 15.00

Lab/ Practical/ Studio/Arch. Studio/ Field Work Assessment : 0.00 Max : 100

N/A

List of Professional skill development activities :

No.of PSDA : 2
SN. PSDA Point
1 ii. Case Study presentation on Economic Analysis
2 Prepare integrated assignment on contemporary issues using secondary data related to GDP/Monetary Policy/ Fiscal Policy/ Inflation/ Employment.

Text & References :

SN. Type Title/Name Description ISBN/ URL
• Dwivedi DN, Managerial Economics,
1 Book Vikas Publishing House • Gupta, G.S. 2006,
Managerial Economics