Introduction to Managerial Economics

Por: Swayam . en: , ,

Week 1: How Markets Work?

• What is Economics• Microeconomics and Macroeconomics• Why should students of Business learn Microeconomics• Market Economies• Production Possibility Frontier• The Demand Curve• Factors that Affect Demand• The Supply Curve• Factors that affect Supply

Week 2: Demand, Supply and Equilibrium

• The Equilibrium• Divergence from the Equilibrium Price• Effects of changes in business environment on the equilibrium• Price Elasticity of Demand and Supply• Income Elasticity and Cross Price Elasticity

Week 3: Production and Cost

• The Production Function• Behaviour of Average and Marginal Products• Law of Diminishing Returns• Productivity in the Long Run• Scale and Scope of Production• Costs of Different types• Behaviour of average and marginal costs• Relationship between costs and productivity• Costs in the long run

Week 4: Markets - Part 1

• Markets of Different types• Perfectly Competitive Market• Profits in a perfectly competitive Market• Perfect competition in the long run• Monopoly• Profits in a monopolistic market• Sources of Monopoly Power• The Multi-product firms• Monopolistic Competition
Week 5: Markets - Part 2

• Oligopoly• Different Models of Oligopoly• Why do markets Fail• Game Theory: a strategic understanding