Managerial Economics – Meaning and Definition – Nature and Scope – Economic Theory – Divisions – Goals of a firm.
Demand Analysis – Meaning, Determinants of Demand – Law of Demand, Elasticity of Demand – Price, Income and Cross Demand – Demand Estimation and Demand Forecasting – Demand Distinctions.
Production Function – Meaning and Definition – Elasticity of Substitution and Production – Type of cost of Production – Long run and Short run cost.
Markets – Forms of Market – Characteristics - Pricing Methods – Objects of pricing policies – Practices – Government intervention in Market. Price Theory – Perfect Competition, Monopoly, and Monopolistic competition, Monopsony, Duopoly, Duopsony and Oligopoly.
National Income- Business Cycle – inflation and deflation- Balance of payment – Monetary and fiscal policies.
Reference Book:
1. R.L.Varshney and K.L.Maheshwari----Managerial Economics----Sulthan Chand and Sons, 19th revised edition, reprint 2008. 2. AlakGosh and Biswanath Gosh----Managerial Economics---Kalyani Publications 3. D.Gopalakrishna----Managerial Economics, Himalaya Publishing House,4threvised edition, reprint 2003
Text Book:
Dr. S.Sankaran---- Managerial Economics----Margham Publications, 5th revised edition 2006, reprint 2010.