Managerial Economics-Course Handout

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INDIAN INSTITUTE OF MANAGEMENT
ROHTAK
First Semester 2015-2016

MANAGERIAL ECONOMICS (3 Credits)
Course Handout
Dated: 19/07/2015
Scope & Objective:
The course provides to the students: an insight into the scientific & analytical methods, techniques and tools of
economics; a precise and comprehensive coverage of fundamental concepts in economics; and suitable examples to
expose him/her to possibilities of applications of these concepts in business and economic policy.
Prescribed Text Book:
T1. Truett & Truett, "Managerial Economics", John Wiley & Sons, 8th edition, Singapore, 2004.
Reference Books:
R1. Petersen, Lewis and Jain, “Managerial Economics”, Pearson Education, New Delhi, 2006.
R2. Thomas J Webster, “Managerial Economics”, Academic Press, 2003.
R3. Suma Damodaran, "Managerial Economics", Oxford University Press, 2006
Lecture Plan
Lecture Learning Objectives
No
1
Examine the nature and scope of managerial economics

Topics

2

Reasons for the existence of firm

Introduction to basic principles &
methodology of managerial economics
Theory of the firm

3

Analysis of the operation of markets

Demand analysis & elasticities

4

Examine various techniques used by managers for forecasting

Economic forecasting

5

Conditions under which firms produce goods and services

Production analysis - 1

6

Long-run production function and estimation of production function

Production analysis -2

7

Optimal combination of inputs used in the production process

Cost of production

8

Decision making process with respect to organizational objectives

Profit and revenue maximization

9

Market structure: the determination of price and output

Perfect competition & Monopoly

10

Monopolistic competition

11

Market structure: how price and output are determined under
Monopolistic competition
Market structure: how price and output are determined under oligopoly

12

Explaining firms’ behaviour using game theory

Games, Information, and strategy

13

Understand the real world situations of pricing practices

Pricing Practices

14

Factor markets and its equilibrium

15

Employment and unemployment in India-measures

Factor markets & profit maximizing
employment of variable inputs
Indian Labour market

16

Understand macroeconomic aggregates and its relevance

17

Understand the benefits of cross-country trade

18

Does market efficiently allocate resources?

Duopoly and Oligopoly

Macroeconomic variables & their
measurement
International Trade, Comparative
Advantage
Market failure and government
intervention

Evaluation Scheme:
EC
Evaluation Component &
No.
Type of Examination
EC-1 Quiz
EC-2 Group presentation
EC-2 Mid-Semester Test
EC-3 End-semester Exam

Duration
40 minutes
20 minutes

Weightage

Date and Time

20%
20%
30%
30%

Instructor

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