Course Overview
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Course Synopsis
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This course in managerial economics is specifically designed for students of Management and Economics. It would provide them an understanding of economic concepts and economic environment influencing managerial decisions. The course would introduce the students to the application of statistical as well as mathematical tools for making decisions. The objective of the course is to demonstrate how applications of economic theory can improve decision making. The approach involves introducing managerial economics first and then using these principles to analyze decisions faced by managers. Principles from economics and business are developed and integrated with emphasis on management decision-making and policy formation.
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Course Learning Outcomes
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After the completion of this course, the students will be able to:
- Analyze the quantitative demand analysis in the light of the applications of elasticity, cross price elasticity, income elasticity and explain the relation between price elasticity and pricing policy.
- Describe the indirect and direct methods of demand estimation, demand forecasting using the regression analysis.
- Explain the concepts of research and development, importance of short-run cost function, long-run cost function, the learning curve and their application in the managerial environment.
- Develop the understanding of the theories of production estimation and cost estimation.
- Know the techniques for identifying risk and risk management in the Financial Institutions.
- Analyze and examine the output decisions of managers in perfectly competitive markets, monopoly, monopolistic competition and oligopoly.
- Know Capital Budgeting Decisions and carry out investment analysis to manage assets and capital.
- Know the rational for Government involvement in Market Economy.
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Course Calendar
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Week 01
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1
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Introduction to Managerial Economics
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2
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Economic Optimization Process
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3
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Economic Optimization with Calculus
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Week 02
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6
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Demand Sensitivity Analysis
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Week 03
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8
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Demand Estimation (Continued 1)
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9
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Demand Estimation (Continued 2)
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Week 04
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11
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Demand Forecasting (Continued 1)
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12
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Demand Forecasting (Continued 2)
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Week 05
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13
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Demand Forecasting (Continued 3)
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14
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Production Analysis and Estimation
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15
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Production Analysis and Estimation (Continued 1)
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Week 06
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16
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Production Analysis and Estimation (Continued 2)
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17
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Production Analysis and Estimation (Continued 3)
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18
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Cost Analysis and Estimation
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Week 07
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19
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Cost Analysis and Estimation (Continued 1)
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20
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Cost Analysis and Estimation (Continued 2)
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21
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Cost Analysis and Estimation (Continued 3)
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Week 08
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23
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Linear Programming (Continued 1)
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24
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Linear Programming (Continued 2)
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Week 09
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26
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Competitive Markets (Continued)
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Week 10
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28
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Monopoly / Monopolistic Competition
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Week 11
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31
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Oligopoly: Game Theoretic Approach
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32
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Oligopoly: Game Theoretic Approach (Continued)
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Week 12
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34
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Pricing Practices (Continued 1)
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35
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Pricing Practices (Continued 2)
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36
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Alternative Theories of the Firm
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Week 13
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37
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Alternative Theories of the Firm (Continued 1)
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38
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Alternative Theories of the Firm (Continued 2)
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39
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Alternative Theories of the Firm (Continued 3)
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Week 14
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41
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Risk Analysis (Continued 1)
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42
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Risk Analysis (Continued 2)
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Week 15
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44
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Capital Budgeting (Continued)
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45
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Government in the market economy
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