Course Code: MGL–6103 L T P C

Course Name: Managerial Economics 4 0 0 4

Course Objectives: The objective of this course is to acquaint the students with the economic
concepts and principles and to enable them to use them to address business problems in a
dynamic economic environment.
Course Outcome: At the end of the course (MGL-6103), student would be able to:
Course Outcomes Cognitive Level
CO1: Explain various theories and laws of Managerial Economics. Understand
CO2: Make use of concepts related to demand, supply & revenue Apply
analysis.
CO3: Identify pricing decisions for various markets. Apply
CO4: Develop understanding of market structures and plan business Apply
accordingly.
CO5: Demonstrate understanding of macroeconomic indicators and Understand
their impact on business.
Contents:
Unit- I: Introduction to Managerial Economics
Basic concepts and principles of Economics, Introduction to Managerial Economics: Nature,
Scope, importance and Significance in decision making, Managerial Economist-Role,
responsibilities and functions
Unit -II: Demand, Supply and Revenue Analysis
Demand & supply analysis, Consumer Preferences and choices. Demand Elasticity; types & its
relevance, demand forecasting, revenue analysis
Unit- III: Production & Cost Analysis
Cost: Concepts, measurement & analysis, production Function & its managerial applications,
cost curves: traditional & modern approach, Production Function; Laws of returns
Unit- IV: Pricing Decisions & Profit Planning
Market Structures, pricing under different market structures, perfect, imperfect and monopoly,
Break Even Analysis; Profit Planning; oligopoly (Cournot’s model, kinked demand curve model,
prisoner’s dilemma)
Unit -V: Macro Economics
Concepts of national Income and methods of its measurement, Inflation: Theories, Introduction
to business cycles
Books Recommended/Suggested Readings:
1. Geetika,Piyali Ghosh,Purba Roy Choudhury (Mc Graw Hill)
2. Mehta PL- Managerial Economics (Sultan Chand)
3. Dwivedi- Managerial Economics (Vikas)
4. Gupta- Managerial Economics (Tata McGraw-Hill)
5. Koutsyannis A- Modern Micro Economics (Macmillan)
6. Maheswari and Gupta- Managerial Economics (Sultan Chand)
7. Hirschey- Economics for Managers (Pearson)