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ECO404 : Managerial Economics

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Course Info

Course Category


Course Level


Credit Hours



ECO401, ECO402, ECO403


Talat Yazdani
M.Phil Economics
Quaid-i-Azam University, Islamabad

Course Contents

Introduction to Managerial Economics Microeconomics Macroeconomics Definitions of Managerial Economics Scope of Managerial Economics Theory of Firm Present Value Profits of the Firm Theories of Profit Economic Optimization Process Revenue Relations Profit Relations Cost Relations Geometric Relations Economic Optimization with Calculus Rules of Differentiation Derivative of a Derivative Partial Derivative Lagrangian Method Interpretation of Lagrangian Method Demand Analysis Law of Demand Demand Curve Determination Demand Function Constrained Maximization Supply Analysis Law of Supply Shifts and Movement in Supply Curve Market Equilibrium Market Disequilibrium Short Run Analysis Long Run Analysis Demand Sensitivity Analysis Elasticity and Revenue Relations Constant Price Elasticity of demand Cross Price Elasticity Income Elasticity of Demand Elasticity and Managerial Decision Making Demand Estimation Identification Problem Consumer Survey Approach Consumer Clinics Approach Market Experiments Approach Regression Analysis Steps in Regression Analysis Ordinary Least Square Tests of Significance Assumptions of Regression Analysis Coefficient of Determination Coefficient of Correlation Multiple Regression model Problems in Regression Analysis Demand Forecasting Forecasting Techniques Time Series Analysis Trend Analysis and Projection Trend Projection Seasonal Variations Ratio to Trend Method Smoothing Techniques Moving Average Method Exponential Technique Barometric Technique Econometric Methods Single Equation Model Multiple Equation Systems Reduced Form Equations Sample Mean Forecast Error Analysis Production Analysis Law of Diminishing Returns Stages of Production Isoquants Marginal Rate of Technical Substitution Ridge Lines Optimal Input Combination Isocost Expansion Path Returns to Scale Output Elasticity Homogenous Production Function Estimation of Production Functions Cobb Douglas Production Function Profit Maximization Problem Cost Minimization Problem Explicit and Implicit Costs Opportunity Cost Short Run and Long Run Costs Short Run Cost Curves Long Run Cost Curves Minimum Efficient Scale Economies of Scale Cost Elasticity Economies of Scope Break Even Analysis Degree of Operating Leverage Learning Curve Implications of Learning Curves Estimation of Cost Functions Engineering Technique Linear Programming Procedure of Linear Programming Problem Graphical Solution of Linear Programming Model Corner Point Property Duality Concept Shadow Prices Primal and Dual Duality Properties Market Structure Perfect Competition Price Determination Under Perfect Competition Profit Maximization Under Perfect Competition Short Run Analysis of Perfect Competition Long Run Analysis of Perfect Competition Efficiency in Perfect Competition Dead Weight Loss Problem in Perfect Competition Monopoly Short Run Price Determination Under Monopoly Long Run Price Determination Under Monopoly Dead Weight Loss Problem in Monopoly Monopolistic Competition Price Determination Under Monopolistic Competition Oligopoly Cournot Oligopoly Model Bertrand Oligopoly Model Contestable Market Model Stackelberg Oligopoly Model Sweezy Oligopoly Model Cartels Game Theory Prisoners Dilemma Nash Equilibrium Games in Economics Repeated Games Price Discrimination Conditions of Price Discrimination Types of Price Discrimination Pricing Practices Production Interrelations Joint Product Pricing Transfer Pricing Strategy Transfer Pricing with Perfect Competition Transfer Pricing with Imperfect Competition Pricing Rules of Thumb Neo Classical Theory of the Firm Sales Maximization Model Baumols Static Model Criticism of Baumols Static Model Marris Model of Maximization of Growth Rate Criticism of Marris Model Williamsons Utility Maximization Model Criticism of Williamsons Utility Maximization Model Behavioral Theory of the Firm Comparison with the Traditional Theory Risk Analysis Measuring Risk Utility Theory and Risk Analysis Basic Valuation Model Certainty Equivalent Approach Decision Trees Simulation Game Theory and Risk Analysis Capital Budgeting Net Present Value Capital Rationing Internal Rate of Return Project Selection Cost of Capital Investment Opportunity Schedule Government in Market Economy Market Failure Externality Public Goods