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Syllabus

UNIT
1
Basic Concepts of Economics

Micro & Macro Economics - The Fundamentals of Economics - Utility, Wealth, Production - Theory of Demand (meaning, determinants of demand, law of demand, elasticity of demand- price, income and cross elasticity) and Supply (meaning, determinants, law of supply and elasticity of supply) - Equilibrium

UNIT
2
Production Function

Meaning and Definition -Elasticity of Substitution and Production – Type of cost of Production – Long run and Short run cost – Theory of Production (meaning, factors, laws of production- law of variable proportion, laws of returns to scale)

UNIT
3
Markets

UNIT III: 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

UNIT
4
Money and Banking

Definition of Money, Types, Features and Functions - Definition, functions, utility, principles of Banking - Commercial Banks, Central Bank - Measures of credit control and Money Market

UNIT
5
Management Process

Introduction, planning, organizing, staffing, leading, control, communication, co-ordination - Concept of Power, Authority, Delegation of Authority, Responsibility, Accountability - Leadership & Motivation – Concept & Theories - Decision-making - types of decisions, decision-making process.

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:

1. Dr. S.Sankaran---- Managerial Economics----Margham Publications, 5th revised edition 2006, reprint 2010.

 

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