Managerial Economics Essay Example

Managerial Economics Essay Example Managerial Economics Essay Managerial Economics Essay Managerial Economics Course Credits : 3 Course Faculty : Prof. Animesh Singh Learning Objectives At the end of this course, the student should be able to: develop a basic understanding of economics as an important tool for taking effective managerial decisions; develop the concept of managerial economics and its applications; and to apprise how managers need to understand fundamental demand supply forces in a market to arrive at best decisions keeping in view the competition in different market forms. PedagogyCourse will be delivered through lecture method using power point slides, class discussions using case studies. Session Plan |Session |Topic |Readings | | 1 2 |Introduction to micro macro economics, markets industry concept, importance |Chapter 1 of text book.Case 1-1, | | |of economics for managers, economic role of government, general equilibrium, |1-2, 1-3, 1-4, 1-5, and 1-6 | | |demand schedule and curve | | | 3 4 |Theory of Firm, factors affecting demand and supply, equilibrium price and |Chapter 1, 2, 3 of Text Book, Case | | |quantity, elasticity of demand and supply, measurement of elasticity of emand |1-7, 1-8, 1-9, 1-10, 1-11, 1-12 | |5 6 |Consumer Behavior, utility, law of diminishing marginal utility, why demand |Chapter 4 of Geetika Piyali Ghosh | | |curve slopes downward, derivation of market demand | | |7 8 |Production analysis, production function, long run and short run , production |Chapter 6 of text book, Case 6-1 to | | |function, stages of productio n function, law of diminishing returns |6-10 | |9 10 | Returns to scale, isoquant and isocost line, optimum input combination, |Chapter 6 7 of text book, Case: 7-1| | |expansion path, analysis of costs, |to 7-8 | |Mid Term Examination | |11 12 |Traditional modern approaches, analysis of economies of scale, economies of |Chapter 8 of Geetika and Piyali | | |scope, relevance to decision – making |Ghosh, Case Outsourcing Pg. 72 | |13 14 |Market, perfectly competitive markets – short-run long run, dynamic changes, |Chapter 8 of text book, Case 8-1 to | | |monopoly market equilibrium comparison with pure competition, price |8-8 | | |discrimination effects and government regulation | | |15 16 |monopolistic competition-equilibrium critique, oligopoly markets – non – |Chapter 8 9 of text book, Case 9-1 | | |collusive oligopoly, Cartels, Price – Leadership models.. |to 9-11 | |17 18 |Pricing Decisions : Product Pricing and Input Pricing |Chapter 11 .Cases 11-1 to 11-11 | |19 20 |Macro Economy: Flow of Economic Activity, National Income, Inflation Business |Chapter 17, 18, 19 20 of Piyali | | |Cycle |Ghosh. Case, Pages 583, 543 520 | Session = 1 ? hours Evaluation Plan |Internal Assessment |30% | |Mid-Term Examination |30% | |End Term Examination |40% | |Details of Internal Assessment | |S. No. Items |Marks | |1 |Class Participation and Attendance |5 | |2 |Quizzes |15 | |3 |Presentations Assignments |10 | | |Total |30 | Text Books: Managerial Economics by D Salvatore 2012 edition, Oxford Geetika, Piyali Ghosh, Purba Roy Choudhary : Managerial Economics, 2nd Edition 2011, TMH Reference Books 1. Geetika, Piyali Ghosh, Purba Roy Choudhary : Managerial Economics, 2nd Edition 2011, TMH 2. Managerial Economics by D N Dwivedi, Vikas 3. Modern Microeconomics by Koutsyannis, McMilan 4. Managerial Economics by Atmanand, Excel Books 5. Managerial Economics by Gupta G. S. , Tata McGraw Hill . Managerial Economics by Petersen Lewis, Hi malaya Publishing House Articles 1. The Managerial Mistakes that a CEO Must Avoid. By: DiPrimio, Anthony. Journal of Case Research in Business Economics. Dec2009, Vol. 2, p1-18. 18p. 2. What makes a die-hard entrepreneur? Beyond the employee or entrepreneur’ dichotomy By Andrew E. Burke, Felix R. FitzRoy, Michael A. Nolan Published online: 16 January 2008_ Springer Science+Business Media, LLC. 2008 3. MANAGEMENT SCIENCE, ECONOMICS AND ENVIRONMENTAL SCIENCE*! ALLEN V. KNEESE Resources for the Future, Inc. , MANAGEMENT SCIENCE, Vol. 19, No. 10, June, 1973, Pnnledin U. S. A. 4. RUNAWAY CAPITALISM.By: MEYER, CHRISTOPHER; KIRBY, JULIA. Harvard Business Review. Jan/Feb2012, Vol. 90 Issue 1/2, p66-75. 10p. 5. Letter From the Editor: Business and the Worlds Poorest BillionThe Need for an Expanded Examination by Management Scholars. By: Bruton, Garry D. Academy of Management Perspectives. Aug2010, Vol. 24 Issue 3, p6-10. 5p. 1 Chart. DOI: 10. 5465/AMP. 2010. 52842947. 6. Managerial E conomics. By: Flynn, Simone I. Managerial Economics Research Starters Business. 2008, p1-1. 12p. 7. WHAT CAN MANAGERIAL ECONOMICS CONTRIBUTE TO ECONOMIC THEORY? By: Hitch, Charles J. ; McKean, Roland N. American Economic Review. May61, Vol. 51 Issue 2, p147. 8p.