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Managerial Economics - Course Outline

The Managerial Economics course at Loyola Institute of Business Administration is designed to equip students with essential economic principles and analytical tools for effective decision-making in business. The course covers key topics such as market dynamics, production and cost analysis, and the impact of government policies, fostering ethical decision-making and social responsibility. By the end of the course, students will be able to apply their knowledge to real-world scenarios and contribute effectively to their organizations.

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indrajendran
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17 views4 pages

Managerial Economics - Course Outline

The Managerial Economics course at Loyola Institute of Business Administration is designed to equip students with essential economic principles and analytical tools for effective decision-making in business. The course covers key topics such as market dynamics, production and cost analysis, and the impact of government policies, fostering ethical decision-making and social responsibility. By the end of the course, students will be able to apply their knowledge to real-world scenarios and contribute effectively to their organizations.

Uploaded by

indrajendran
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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LOYOLA INSTITUTE OF BUSINESS ADMINISTRATION

CENTRE FOR ONLINE LEARNING

Post Graduate Programme in Global Finance

PGOL15 - Managerial Economics

Term: I Course Faculty: Dr K.R. Ramprakash

Batch: PGPMC1 Period: Dec.’24 to Feb’25

Credits: 3 ` No. of Sessions/Hours: 10 Sessions / 20 Hours

Managerial Economics, a pivotal course, holds immense significance for aspiring managers. It equips
students with the essential knowledge and analytical tools needed to thrive in today's competitive business
landscape. By delving into economic principles and their practical applications, the students learn how to
make strategic decisions that drive profitability and growth. This course offers insights into market
dynamics, risk management, government regulations, and cost efficiency, allowing students to navigate
complex business scenarios with confidence. Moreover, Managerial Economics fosters ethical decision-
making, encouraging a balanced approach to profitability and social responsibility. As graduates embark
on their careers, this course empowers them to stand out in the job market, contribute effectively to their
organizations, and even embark on entrepreneurial journeys armed with a profound understanding of
economic principles and their real-world implications.

Assurance of Learning (AOL):

By the end of course learning, the students will have become competent to

➢ Grasp fundamental managerial economics concepts, principles, and theories.


➢ Apply economic reasoning and analytical tools to real-world managerial decision-making
scenarios.
➢ Assess and evaluate the impact of government policies, market structures, and pricing strategies
on businesses.
➢ Propose well-informed solutions to complex business challenges.
➢ Effectively communicate economic concepts and their implications through both written and
oral means.
➢ Incorporate ethical considerations and social responsibility into their managerial decision-
making.
➢ Promote responsible and sustainable business practices within their organizations and
industries.

MANAGERIAL ECONOMICS /PGPMC1/COURSE OUTLINE/Dec. 2024 /Dr. K.R. Ramprakash


Course Objective

• Develop an understanding of key concepts in managerial economics, including micro and


macroeconomic principles, market dynamics like demand, supply, and elasticity, as well as an
analysis of consumer behavior and demand forecasting techniques.
• Gain insights into production and cost analysis, exploring various production functions, cost
structures, and the economic implications of different market structures such as monopoly,
oligopoly, and perfect competition, along with pricing strategies.
• Understand the role and impact of government in markets, focusing on regulation, taxation,
market failures, public goods, and issues of income distribution and equity in the context of
business and economic policy.

Course Outcomes (COs), Program Outcomes (POs), Assessment Components Mapped in the Course

Course Outcomes (COs) Program Outcomes Assessment Component Weightage


(POs) (Total Marks
– 100)
CO 1: To gain a PO1: Domain
comprehensive understanding Knowledge Formative Assessment: MCQs 30 %
of managerial economics,
mastering key concepts such as
Summative Assessment: MCQs 15%
micro and macroeconomic
principles, market dynamics,
and production and cost
analysis.

CO 2: To critically analyze PO2: Critical Thinking Formative Assessment:


economic models, market & Problem-Solving
structures, and government Skills Assignment 1 – Regulus Solar
policies and to apply these Power Inc. (Analyzing Price
analytical skills to solve Demand Elasticities)
complex economic problems,
make informed decisions, and Assignment 2 – Life-dot and
predict market trends. Speed-med (Assessing the best 30%
possible course of action based on
Game Theory)

Group Assignment 1: Case


Analysis – Australian Automotive
Industry (Impact of Government
Regulations on Business)
CO 3: To lead in a business PO3: Leadership Skills Summative Assessment:
context by understanding the Group Analysis & Presentation: 25%
economic implications of Case Study – Maruti Suzuki India
different market structures and limited (Sustaining Profitability)
government interventions and

MANAGERIAL ECONOMICS /PGPMC1/COURSE OUTLINE/Dec. 2024 /Dr. K.R. Ramprakash


to make strategic decisions,
manage resources effectively,
and navigate complex
economic environments.

Session Plan

Module Particulars No. of Live


Session(s)
Module INTRODUCTION TO MANAGERIAL ECONOMICS
I
Concepts and principles of managerial economics -
Microeconomics vs Macroeconomics - Scarcity, choice, and 2
opportunity cost - Demand, supply, and market equilibrium –
Marginal Utility.

Module DEMAND ANALYSIS


II
Law of demand - Determinants of demand - Elasticity of
demand: Price, income, and cross elasticity - Demand 2
forecasting techniques - Consumer surplus.

Module PRODUCTION AND COST ANALYSIS


III
Production functions - Law of diminishing returns - Economies 2
of scale and scope - Cost functions: Fixed, variable, and total
costs - Cost-output relationship: Short-run and long-run.

Module MARKET STRUCTURES


IV
Perfect competition – Monopoly - Monopolistic competition –
Oligopoly - Pricing and output decisions in different market 2
structures - Price discrimination - Peak-load pricing - Transfer
pricing - Two-part tariff - Bundling and tying.
Module GOVERNMENT AND BUSINESS
V
Government intervention in markets - Regulation and 2
deregulation - Taxation and public policy - Market failure and
public goods - Income distribution and equity.

MANAGERIAL ECONOMICS /PGPMC1/COURSE OUTLINE/Dec. 2024 /Dr. K.R. Ramprakash


Reference Books:

• Samuelson, W., & Marks, S. (2020). Managerial Economics. Wiley.

• Keat, P. G., & Young, P. K. (2020). Managerial Economics: Economic Tools for Today's
Decision Makers. Pearson.

• Thomas, C. R., & Maurice, S. C. (2020). Managerial Economics: Foundations of


Business Analysis and Strategy. McGraw-Hill Education.

• Hirschey, M. (2008). Managerial Economics. Cengage Learning.

• Froeb, L. M., McCann, B. T., Shor, M., & Ward, M. R. (2019). Managerial Economics:
A Problem Solving Approach. Cengage Learning.

• Png, I. P. L. (2016). Managerial Economics. Routledge.

MANAGERIAL ECONOMICS /PGPMC1/COURSE OUTLINE/Dec. 2024 /Dr. K.R. Ramprakash

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