Post Graduate Diploma in Management (PGDM)

Course Outline
Course Title: MANAGERIAL ECONOMICS
Academic Year: Core/Elective:
Term: I Credits: 3
Batch: 2023-24 Elective
Lectures (L): Practical (P): 2 Tutorials (T) : 5
20
Course Instructor/Faculty Members: CS RAKESH SHARMA

Pre-requisites: UNDERSTANDING OF MICRO & MACRO

ENVIRONMENT/BASICS OF ECONOMICS

Textbooks (T)
Sr. No. Title Author Publisher Name
T-1 ‘Managerial Economics’ Geetika, Piyali Ghosh, TMH Company
Purba Roy Chaudhary Limited New Delhi.

Our Vision

"To be renowned for excellence in professional learning globally."

Our Mission

Our Mission is to impart vibrant, comprehensive and innovative learning to our students enabling
them to be managers, entrepreneurs, and leaders with strong cultural values and to provide an
ideal teaching environment and ambiance to develop their skills to meet the challenges of the
global business environment.

It is further to create, inculcate, imbibe, translate and apply knowledge, to address the needs of
individuals,industry and above all the trust of the society. This is visualized and accomplished
through quality education,which communicates the knowledge and values and imparts the skills
necessary for individuals to lead responsible, productive, and personally satisfying lives; through
research, scholarship, and creative activities,which advance knowledge and enhance the
educational process; and through good employment, which contributes to the solution of societal
problems and enriches the quality of life in the nation.

With this mission we aim for greater eminence and international prominence in Management,
Science, Technology and Engineering while building recognition in the business, education and
research. We engage the entire Accurate fraternity in our leading strengths through
interdisciplinary cross-cultural initiatives. Programmes with the greatest potential for excellence
will be targeted and given the resources to seek national and international recognition.

Our Mission is to impart vibrant, comprehensive and innovative learning to our students
enabling them to be managers.

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Programme Outcomes (POs)
PO-1: Apply knowledge of management theories and practices to solve business problems.
PO-2: Foster Analytical and critical thinking abilities for data-based decision making.
PO-3: Ability to develop Value-based Leadership ability.
PO-4: Ability to understand, analyse and communicate global, economic, legal, and ethical
aspects of a business.
PO-5: Ability to lead themselves and others in the achievement of organisational goals,
contributing effectively to a team environment.
PO-6: Exhibit a holistic personality for professional excellence and employability.
PO-7: Develop practical techno-managerial skills and competencies for becoming successful
entrepreneurs in future.
PO-8: Identify business opportunities, design and implement innovations in workspace.

Graduate Attributes (GA)

GA1: Deep discipline knowledge and intellectual breadth

GA2: Team player and excellent communication
GA 3: High degree of Corporate Readiness and Agility.
GA4: Critical thinking, Problem Solving, and Research Orientation
GA5: Creativity and Innovation.
GA6: Information and Communication Technology Skills
GA7: Socially Responsible and ethical
GA8: Entrepreneurial mindset
__________________________________________________________________________

1. Course Introduction
Managerial Economics is a fundamental course designed to equip PGDM students with the
knowledge and analytical skills necessary to make informed business decisions in a dynamic
and competitive economic environment. This course integrates economic theories and
concepts with practical applications, focusing on how managers can optimize resources and
maximize organizational performance.

2. Employability-level

1. Foundation 2. Foundation 3. Professiona 4. Professiona 5. Premier

Core Skill l Core l Skill Skill
✓

3. Course Objectives

This course is designed to help the students:

1 Apply Economic Principles to Decision-Making: Utilize economic concepts to make
strategic and informed managerial decisions.
2 Optimize Resource Allocation: Learn to allocate resources efficiently to achieve
organizational goals.

2
 3 Analyze Market Dynamics: Understand market forces and how they impact pricing,
demand, and competition.
4 Enhance Profitability: Develop strategies to maximize profits while minimizing
costs.
5 Manage Business Risks: Equip yourself with tools to assess and mitigate risks in a
dynamic economic environment.
6 Mitigate Business Risks: Learn to assess and manage risks in a dynamic economic
landscape.

4. Course Outcomes

Students, who successfully complete this course, should be able to:

Bloom’s
Cos Description
Taxonomy
CO1 Apply economic principles to analyze and solve complex business Level 3
. problems effectively.

CO2 Utilize economic data and models to make informed managerial Level 4
. decisions, optimizing resource allocation.

CO3 Develop strategic insights into market dynamics, pricing strategies, Level 6
. and competitive positioning.

CO4 Understand cost structures and techniques for cost minimization, Level 5
. contributing to enhanced profitability.

CO5 Integrate managerial economics into strategic planning, fostering Level 3

long-term organizational competitiveness.

CO6 Evaluate and manage business risks in evolving economic Level 2

environments, ensuring resilience and adaptability.

5. Course Content and Schedule

Session Session Topic / Methodology Tools Required CO/PI BT level

No. Sub-topic (Experiential, ( Cases, Role Readings Mapping (Blooms
Description Participative, Plays, Lecture, (Provide Taxnomy )
Instructional) Simulations, relevant
Video cases, page
GD, details of
Presentations, the
Management reading
Games, Lab materials)

3
 Session etc)

Unit-I

Introduction to chapter-
Managerial 1 .page
1 Instructional Case/lecture
Economics no.5 case
study
Nature and
scope of
2 Instructional Case/lecture Chapter-1
Managerial
Economics,
functions
Significance
3 Instructional Case/lecture Chapter-1
and objectives
of a firm,
, Understanding
the Market
4 Mechanism: Instructional Case/lecture Chapter-1
Demand
function

UNIT-II
Demand
Forecasting, CHAPTE
5 Instructional Case/lecture
R-1
Different
techniques and
INSTRUCTIO CHAPTE
6 methods to Case/lecture
NAL R-2
forecast
demand
Quantitative
and INSTRUCTIO CHAPTE
7 Case/lecture
Qualitative NAL R-2
Elasticity of
demand, Using
Elasticity of INSTRUCTIO CHAPTE
8 Case/lecture
Demand in NAL R2
business
strategy

UNIT-III

4
 Demand
Forecasting, INSTRUCTIO CASE CHAPTE
9
NAL STUDY R-2
Forces behind
consumer
INSTRUCTI CHAPTE
10 demand for Case/lecture
ONAL R-3
goods &
services
Consumer’s
tastes & INSTRUCTIO CHAPTE
11 Case/lecture
preferences NAL R-3
Consumer’s
constraints, INSTRUCTI CHAPTE
12 Case/lecture
Consumer ONAL R R-4
equilibrium

UNIT-IV

Economic
Framework for
INSTRUCTIO CHAPTE
13 Production Case/lecture
NAL R-3
Decisions by
Firms
Production
function and INSTRUCTIO CHAPTE
14 Case/lecture
optimal use of NAL R-4
inputs
Determining
the Expansion INSTRUCTIO CHAPTE
15 Case/lecture
Path of the NAL R-4
firm,
Cost Analysis
for efficient INSTRUCTIO CHAPTE
16 Case/lecture
business NAL R-4
decisions,
Cost concepts,
Cost Function INSTRUCTIO CHAPTE
17 Case/lecture
and Cost NAL R-4
Curves.

5
 Market
CHAPTE
18 Structure INSTRUCTIO Case/lecture
R-5
NAL
Monopoly,
INSTRUCTIO
19 Oligopoly, Case/lecture
NAL
Duopoly and
INSTRUCTIO
20 Monopolistic Case/lecture
NAL
competition.
Tutorial V

6. Description of Course Assessment Components

This course is of 100 marks and will have the following assessment components. Final
Grades will be based on the relative performance of a student in the class.

Weightag To be To be Annexur Pag

Name of Marks e% Assigne Conducte e e No
Assessmen
Assessment Assigne d d
t No.
Component d (Session (Session
No.) No.)

Group
Discussion I 15
1 10
(Case Study 10%
Based)

Article
5% II 16
2 Discussion 5
and Analysis

Team
Research
3 Project and 10
Presentation 10%
*

Innovative
Practice
(Individual III 17
Research/
4 10
Project/or 10 %
any other
related
activity)
5 Mid Term 15 As per Calendar

6
 Examination 15 %

End Term
6 50 50 % As per Calendar
Examination

Total Marks
100

*In every team presentation, peer review by the team members will be conducted by the
subject faculty (Annexure IV).

AS 1: Group Discussion (GD) (Case Study Based) of 10 marks: The Group

Discussions are based on case study with 7-8 students randomly taken from the class on spot.
The GD objective is to make students competent in effective communication and associating
recent events on business decision. GD will be conducted for 10 minutes followed by
feedback.
Rubrics for GD

Initiative
Expression & Innovative Logical Taken
Ability to
Command of Thinking &Analytical (Opening,
Convince
Language Approach Closing,
Discussion)
2 Marks 1.5 Marks 2 Marks 2.5 Marks 2 Marks

AS 2: Article Discussion and Analysis 5 marks: : Article Discussion and Anaysis is

included in each subject to acquaint students to simulate the real world situation and
involve in critical thinking and decision making. It allows you to develop skills at
problem definition in addition to problem solving.

This special component of article analysis has been added in the lecture plan of all the
subjects with the strong objective to give understanding of the current scenario of the
respective subject and the contemporary trends in the corporate sector.

Structure:
1. Overview of Article/ Case study
2. Objective and Methodology and Tools of analysis
3. Analysis of Results, Findings and Conclusions (with screen shots, as required)
4. Presentation

Rubrics for Article Discussion and Analysis

Objective and Results and

Concept Clarity Presentation
Methodology Findings
2 Marks 1 Marks 1 Marks 1 Marks

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AS 3: Team Research Project and Presentation of 10 Marks: Team Presentation and
Project will be given to the Team of 5-6 students. Students will be extracting the relevant
data (primary or secondary) as per the requirement of topic. The Team has to submit the
Present it as per their allotted due date.

Structure of Team Research Project and Presentation

1. Initial introduction of the topic, Task Handled and timelines

2. Confidence
3. Objective and Methodology
4. Analysis of Results, Findings and Conclusions (with screen shots, as required)
5. Presentation

Rubrics Team Research Project and Presentation

Initial
introduction of the Analysis of
Research Presentation
topic, Task Objective of Results,
Methodology with PPT
Handled and the Study Findings and
timelines Conclusions

2 Marks 1.5 Marks 1.5 Marks 2.5 Marks 2.5 Marks

Note:
1. Late submissions will not be entertained and students will be marked zero in case of
late submission.
2. It is compulsory for all the students to adhere to Institutes’ Anti-Plagiarism
Guidelines with due diligence, while submitting their academic work to their faculty
members and examination department.
3. *In every team presentation, peer review by the team members will be conducted by
the subject faculty (Annexure IV).

AS 4: Innovative Practice (Individual Research/ Project/or any other related activity)

10marks: Innovative Practice (Individual Research/ Project/or any other related activity)
component is included in each subject to to encourage individual research projects by each
student.

The faculty members in the respective subjects will be having the discretion to decide on
any such research project combined with any other innovative pedagogical tool to explore the
research potential of the students
Structure:

1. Initial introduction with Project planning, Task Handled and timelines

2. Overview of Industry and Company/ies selected (Historical Data of Returns)
3. Objective and Methodology and Tools of analysis
4. Analysis of Results, Findings and Conclusions (with screen shots, as required)
5. Presentation with PPT

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 Objective
Results and
Topic and Presentation Report
Findings
Methodology
1 Marks 1.5 Marks 1.5 Marks 2 Marks 1.5 Marks

7. Course References

Text Book/Course Pack:

1. Geetika, Piyali Ghosh, Purba Roy Chaudhary ‘Managerial Economics’ TMH
Company Limited New Delhi.

Reference Books:
1. Salvatore, Dominick, ‘Managerial Economics in a Global Economy’, Thomson South-
Western Oxford University Press.
2. Suma Damodaran ‘Managerial Economics’, Oxford University Press, New Delhi
3. Petersen, H. Craig. Managerial Economics, Pearson Education

Cases/Readings:
1. Impact of Demonetization on the Indian Economy
2. Goods and Services Tax (GST) Implementation and Its Economic Effects
3. Agricultural Distress and Farmer Suicides
4. The Rise of E-commerce and Traditional Retail
5. Foreign Direct Investment (FDI) in India
6. Income Inequality and Poverty Alleviation
7. Make in India Initiative and Manufacturing Sector Growth
8. Public Health and Healthcare Infrastructure
9. Environmental Challenges and Sustainable Development
10. Indian Banking Sector: NPA Crisis and Banking Reform
Online Resources:
1. www.bseindia.com
2. www.nseindia.com
3. www.amfiindia.com
4. www.sebi.gov.in
YouTube links:
1.

Faculty Version of Course Outline

This section of course outline is not to be distributed to students.

8. Teaching Method Utilization Map

(Indicate primary teaching methods and indicate secondary teaching methods wherever
necessary.)

9
 T1 – Lectures T11 - Tutoring/Problem Solving
T2 - Case Discussions T12 - Industry Visit/Field Visit
T13 - Networking Events:
T3 – Expert Talk Session
Conference/Conclave/ Workshop
T4 - Learning Labs (Class T14 -
Demo/Movie/Webinar)
T5 - Role Plays/Business T15 -
Games/Simulation(s)
T6 - Student Presentation based on Team
Report
T7 - Student-led Discussion
T8 - One-on-One Presentation/Feedback
T9 - Integrated Learning (Collaboration with
other Faculty)
T10 - Group Discussion

Teachin
g S1 S1 S1 S1 S1 S1 S1 S1 S1 S2
S1 S2 S3 S4 S5 S6 S7 S8 S9 S16
Methods 0 1 2 3 4 5 7 8 9 0

/Sessions

T T1 T1 T1 T1 T1 T T T T T T T T T T1 T T T T
Primary 1 4 4 1 4 4 10 11 2 14 10 11 4 14 11 4 14 1 10 6

T1 T T T1
T
Seconda T T1 0, T T 6, T T T T 2, T 0, T T T
T2 T2 T6 1
ry 7 1 T1 2 6 T 6 7 2 6 T 6 T1 10 6 7
1
1 11 11 1

 Do you plan to take any special/extra session during the course other than the allocated
sessions? Yes
 If Yes, please mention in the appropriate box

S. No Special / Extra Session(s) No. of Sessions

1 Student Presentation -

2 Tutorial ---

3 Industry Visit/Field Visit ---

Networking Events:
4 -
Conference/Conclave/Workshop

9. Course Outcomes to Assessment Components Mapping Matrix

10
(For each Course Outcome, identify the Sessions where the relevant content/teaching is
covered; and which of the Assessment components will assess it. No Outcome should be
left unassessed.)
[Please (1, 2, and 3 for Low, Medium and High) in the appropriate box]

(This matrix will be validated during Post-term Quality Audit by auditing the actual
assessment components used during teaching and the sample grading of the submitted
student work)

Assessme
nt 4
Assess
Assess [Innovati
COs / Rele Assess ment 3 Assessme Assessmen
ment 2 ve
Assessmen vant ment 1 [Team nt 5 [Mid- t 6 [End-
[Discuss Practice
t Sessi [Group Project Term Term
ion (Individu
Compone on Discuss and Examinat Examinati
Activity al
nts Nos. ion] Presenta ion] on]
] Research
tion]
Project
and
Presentati
on]
CO1: 1-4 2 3 2 3 3 3
Apply
economic
principles
to analyze
and solve
complex
business
problems
effectively.
Utilize
economic
data and

11
models to
make
informed
managerial
decisions,
optimizing
resource
allocation.
CO2:
Develop
strategic
insights
into
market
dynamics,
5-12 1 3 2 3 3 3
pricing
strategies,
and
competitiv
e
positioning
.
CO3:
Understan
d cost
structures
and
techniques
for cost 13-
2 2 1 3 0 3
minimizati 17
on,
contributin
g to
enhanced
profitabilit
y.
CO4:.
Integrate
managerial
economics
into
strategic
18-
planning, 0 1 2 3 1 3
20
fostering
long-term
organizatio
nal
competitiv
eness.
AVERAG
1.67 2.25 1.75 3 2.67 3
E

12
(Remarks Innovative Pedagogy, and ETE are assessing the COs
if any) significantly

10. Curriculum Map for Course

(Identify which of the Programme Outcomes are addressed by this course, both through
teaching Sessions as well as through COs, in the following matrix.) [Please mark (1, 2, and
3 for Low, Medium and High) in the appropriate box]
PO-1: Apply knowledge of management theories and practices to solve business
problems
PO-2: Foster analytical and critical thinking abilities for data-based decision making
PO-3: Ability to develop Value-based Leadership ability
PO-4: Ability to understand, analyse and communicate global, economic, legal, and
ethical aspects of a business
PO-5: Ability to lead themselves and others in the achievement of organisational goals,
contributing effectively to a team environment
PO-6: Exhibit a holistic personality for professional excellence and employability
PO-7: Develop practical techno-managerial skills and competencies for becoming
successful entrepreneurs in future
PO-8: Identify business opportunities, design and implement innovations in workspace

Relationship between the Course Outcomes (COs) and Program Outcomes (POs)

Mapping between COs and Program

Outcomes (POs)
Course Outcomes (COs) Program
Outcomes
(POs) Add
POs from 1 to
8
CO1 Apply economic principles to analyze and solve complex business _
problems effectively.
Utilize economic data and models to make informed managerial _
decisions, optimizing resource allocation.
CO2 Develop strategic insights into market dynamics, pricing strategies, __
and competitive positioning.
Understand cost structures and techniques for cost minimization,
CO3 contributing to enhanced profitability. ___

Integrate managerial economics into strategic planning, fostering ___

CO4 long-term organizational competitiveness.

Relevant Programme Learning Outcomes (PLOs)

COs/Sessions/POs Session PO- PO- PO- PO- PO- PO- PO- PO-
Nos. 1 2 3 4 5 6 7 8
CO1Apply economic 1-4 1 2 0 2 1 1 2 2

13
principles to analyze and
solve complex business
problems effectively.
Utilize economic data and
models to make informed
managerial decisions,
optimizing resource
allocation.
CO2: Develop strategic
insights into market
dynamics, pricing 5-12 3 3 1 2 2 2 3 3
strategies, and competitive
positioning.
CO3: Understand cost
structures and techniques
for cost minimization, 13-17 2 2 1 2 2 2 3 3
contributing to enhanced
profitability.
CO4 Integrate managerial
economics into strategic
planning, fostering long- 18-20 2 2 1 2 2 2 3 3
term organizational
competitiveness.
Average 2 2.25 1 2 1.75 2 2.75 2.75
Mention any TWO POs which are significantly contributed by
PO7 and PO 8
this course

(Note: The complete lecture plan has to be shared with all students on the first day of the
class)

Prepared by

Name of the Faculty Rakesh Sharma

Signature_______________
Date________________

Annexure I.

Guide to Case Study Analysis

Cases require careful preparation before class. The following is a list of steps to guide your
case preparation.

a. Rapidly read the assigned case and other materials to gain a general understanding of the
industry, the firm, and the general competitive situation and issues.
b. Carefully review the discussion questions provided for the session for clues as to what
issues require special attention.

14
c. Carefully re-read the case, taking notes that sort information, facts, and observations
under a number of relevant headings. Use the discussion questions to guide your own
thinking about the issues.
d. Formulate theories or hypotheses about what is going on as you read ("the company loses
money on small orders"), modifying or rejecting them as new information
e. Perform quantitative analyses, “crunching” whatever numbers are available. It is also
very important to provide quantitative support wherever possible, particularly when exploring
various hypotheses as to the nature and importance of certain phenomena. (If the requisite
data are not available in the case, precise descriptions of what data are missing often triggers
ideas for making creative use of the information that is available.) It is usually worthwhile to
identify trends in the firm or industry, preferably with a quantitative measurement. Some of
these trends, often very important ones, will not be flagged in the text of the case.
f. Prepare definitive conclusions before you come to class concerning the issues raised in
the discussion questions.
g. Bring your detailed notes with you to class to help guide your interventions in class
discussions.
Annexure II.

Guide to Article Analysis

The following set of questions are provided to guide your analysis of the articles assigned
in this course.
1. What is the purpose of this article? What problem or issue does it address?
2. What are the basic assumptions/assertions/values that underlie this
piece? (View of human nature; purpose of organization--e.g. economic
efficiency vs. human satisfaction; degree to which planning is possible
etc.) Are these assumptions explicit or implicit?
3. What is the basic argument/thesis? What are the major findings and conclusions?
4. What problems or concerns are you left with?
5. How does the article relate to other articles you have read and to
your own knowledge and experience? How does it contribute to
your overall understanding of business strategy?

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 Annexure III
Innovative Practice
(Individual Research Project and Presentation)
Research participation not just educate students in past knowledge but also by being the
primary engine that creates new knowledge for the advancement of society. Research within
the Accurate Group of Institutions takes several forms from for example, historical analysis
of published records, participant observation and in-depth interviews, surveys of current
business practices. You have an obligation as a student member to contribute to the research
mission because you personally benefit from the results of this research in your education by
learning the latest information from leading research scholars in their field.

Annexure IV
Peer Evaluation

Your name:

Please allocate 100 points across all the members of your team including yourself to reflect your
assessment of individual contributions to the team effort.

I will treat your assessments as confidential.

Team-member name: Contribution:

1. Your name:
2.
3.
4.
5.
6.
Total: 100

In the space below, provide some summary comments that can be fed back
to each of your team members:

Greatest Strength Areas of improvement

2.

3.

4.

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