103-Managerial Economics

OBJECTIVES:

The course in Managerial Economics attempts to build a strong theoretical foundation for Management students. The course is mainly analytical in nature and focuses on clarifying fundamental concepts from microeconomic viewpoint. The students are expected to study and analyses the dynamics of managerial decision making through this course. Also wherever possible, students are expected to study, analyses and interpret empirical evidence and case studies available currently on various basic concepts.

1. Definition, Nature and Scope of Managerial Economics, Managerial Economics and Microeconomic and Macroeconomics. Managerial Economics and decision-making. Definitions of basic concepts:

a. Positive and normative approach
b. Optimization
c. Marginal analysis
d. Opportunity Cost.
e. Economic Model.
f. Statics and Dynamics. (8)

2. Meaning and determinants of demand. Demand Function. Law of Demand, Market Demand, Elasticity of demand.......

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Title: Managerial Economics
Approximate Word Count: 530
Approximate Pages: 3 (250 words per double-spaced page)

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