| Course Name | Economic Analysis for Managers |
| Course Code | 24ECO501 |
| Program | M. Com. (Finance & Systems) |
| Semester | I |
| Credits | 3 |
| Campus | Amritapuri |
Introduction: Basic economic problem – problem of scarcity – economic system – Capitalist, Socialist and Command Economics – how these economic systems solve the basic economic problems. Positive versus normative analysis – Corporate decision making – public policy design.
Basics of Demand and Supply: Concept of demand – Elasticity of demand – measurement of elasticity
– point and arc methods – supply schedule and supply curve – Shifts in demand and supply – minimum floor price and fixing ceiling on prices – Understanding the effects of changing market conditions – market failure – Effects of Government intervention in correcting market failure.
Theory of Markets: Price and output determination under perfect competition and monopoly – discriminating monopoly – types of discrimination – degrees – oligopoly – price leadership, collusive and kinked demand – monopolistic competition – Theory of distribution – a general view -Marginal productivity theory.
Introductory Macro Economics: Circular flow of income – two sector – three sector – four sector models – National Income accounting – Basic N.I. concepts – methods of N.I. collection – problems – conceptual and statistical – National income accounting in India.
Important Macro Variables: Propensity to consume – MPL and APC – Concept of multiplier – Accelerator – leverage effect – business cycles – unemployment and types – voluntary and involuntary types – inflation and deflation. Fiscal policy as a measure to correct inflation -Automatic measures and deliberate measures – limitations of fiscal policy.
Course Objective:
The objective of this course is to provide a detailed understanding about the concepts of economic theories for use by the management in decision making process.
Course Outcomes:
| CO1 | Analyze the demand and supply conditions and assess the position of a company. |
| CO2 | Design competition strategies, including costing, pricing, product differentiation, and market
environment according to the natures of products and the structures of the markets. |
| CO3 | Make optimal business decisions by integrating the concepts of economics, mathematics and statistics. |
| CO4 | Analyze the interaction between consumers and firms, apply the concept of market equilibrium and calculate welfare measures such as consumer surplus and social welfare. |
| CO5 | Analyze and predict the effect of government measures (policies, taxes, etc.) on market
prices and quantities, social welfare, and economic efficiency. |
Textbooks:
Reference Books:
DISCLAIMER: The appearance of external links on this web site does not constitute endorsement by the School of Biotechnology/Amrita Vishwa Vidyapeetham or the information, products or services contained therein. For other than authorized activities, the Amrita Vishwa Vidyapeetham does not exercise any editorial control over the information you may find at these locations. These links are provided consistent with the stated purpose of this web site.
