Course

Module 1

Module 1: How Markets work (4.2 hours)

1. The market Force of Supply and Demand
2. Elasticity and its application
3. Supply, Demand and Government Policies

Module 2

Module 2: The theory of Consumer Choice (4.2 hours)

Module 3

Module 3: Production, Costs and Industry Structure (4.2 hours)

1. Perfect Competition
2. The Cost of Production
3. Firms in Competitive Markets
4. Monopoly
5. Monopolistic Competition
6. Oligopoly

Module 4

Module 4: Monetary and Fiscal Policy (4.2 hours)

1. The Monetary System
2. Money Growth and Inflation
3. Policy and Fiscal deficits

Module 5

Module 5: Introduction to Key Macroeconomics Variable (4.2 hours)

1. Measurement of GDP
2. Inflation, CPI and WPI
3. Theory of Efficiency Wages
4. Relationship between economic growth and public policy

Module 6

Module 6: Savings & Investment (4.2 hours)

1. Saving Investment and Financial System
2. The Market of loanable funds

Module 7

Module 7: Money, Inflation and Monetary Policy (4.2 hours)

1. Tools of Monetary policy
2. Simple theory of Inflation
3. Cases of Hyper Inflation
4. Cost of Inflation

Course Description

Managerial Economics course intends to introduce the basic concepts of micro and macroeconomics emphasizing the application of economic theory to business decision making process. The course will cover the basic concepts of demand analysis and estimation, production and cost analysis under different market conditions. It also gives an overview of macroeconomics variables like output, employment, interest rates, inflation and exchange rates, economic analysis of these variables through models and theories. Monetary policies of central bank and Fiscal policy of governments are discussed.

Course Outcomes & Learning Levels

1. Apply demand, supply and elasticity concepts to firm and government decisions making.
2. Analyse the relationship between inputs used in production and the resulting outputs and costs.
3. Analyse a firm’s profit maximizing strategies under different market structures.
4. Analyze and interpret the Economic data and measurement of key Economic variables related to output, cost of living & unemployment.
5. Evaluate the role of central bank and monetary policy regulations

Evaluation Pattern 

*Based on assignments / Tests / Quizzes / Case Studies / Project / Term paper / Field visit report. 

Course Text

1. N. Gregory Mankiw. (2012). Principles of Management (Edition 6). Cengage Learning India Private Limited.
2. Principles of Microeconomics 2e, Steven A Greenlaw, David Shapiro, Open Stax
3. Economics, David C. Colander, McGraw Hill, 2017.