This course introduces the students economic principles used in the decision making of a firm
Sessions Session No. Topic 01 Introduction to Business Economics 02 Problem of Scarcity 03 The Market- Demand 04 The Market Supply and the Market Mechanism 05 Equilibrium in the market -Unstable and Stable Equilibrium 06 Consumer Behavior-Cardinal Utility 07 Consumer Behavior- Ordinal Utility 08 Demand Sensitivity-Price Elasticity of Demand 9 Elasticity and Revenue 10 Income, Cross-price, Advertising, Supply Elasticity
11 Demand Estimation 12 Demand Forecasting Techniques 13 Production Behavior- The Short-run Production Function 14 The Long-run Production Function-The Optimal Combination of Inputs 15 The Long-run Production Function-Returns to Scale and Technological Change 16 The Behavior of Costs in the short and long run 17 The Profit Contribution or Break-even Analysis 18 Market Structures and Strategic Behavior of Firms 19 Perfect competition and Monopoly 20 Monopolistic Competition and Oligopoly 21 Pricing Strategies in Practice 22 Regulatory Issues 23-24 Assignment presentations
Text Books 1 Thomas and Maurice, 2010, Managerial Economics, McGraw Hill 2 Dominick Salvator and Ravikesh Srivastava, 2008, Managerial Economics – Principles and Worldwide Applications, Oxford. 3 Mansfield, Allen, Doherty, and Weigelt, 2009, Managerial Economics Theory, Applications and cases, W W Norton &Co., Seventh Edition 4 Michael R Baye, 2009, Managerial Economics and Business Strategy, Irwin G. 5 Petersen and Lewis, Managerial Economics, latest edition, Prentice- Hall. 6 Mark Hirschey, 2010, Managerial Economics: An Integrative Approach
Reference Books 1 G S Gupta, Managerial Economics, Tata McGraw-Hill, latest edition 2 Besanko, Dranov, Shanley, Schaefer, 2004, Economics of Strategy, Wiley. 3 Samuelson and Nordhaus, Economics, Tata McGraw-Hill, latest edition 4 William J Baumol, 2000, Economic Theory and Operations Analysis, Prentice-Hall of India. 5 Sharon M Oster, 1999, Modern Competitive Analysis, Oxford University Press.