This course will introduce the students to different concepts, theories, tools and schools of thoughts in economics and their application on business decision/research problem.
All functional areas of management derive their basic principles and concepts from economics. The objective of this course is to acquaint students with basic tools and concepts of micro economic analysis and their application to managerial decision making. This course will enable students to analyze firm-level economic problems and to take informed and optimal decisions subject to various constraints and objectives.
INTENDED AUDIENCE :Engineering, Social Sciences, Commerce and Management
INDUSTRIES SUPPORT :For many companies- this would be a good course for entry level professional for basic understanding of different function of companies.
COURSE LAYOUT Week 1:Introduction to Managerial EconomicsWeek 2:Theory of DemandWeek 3:Theory of Consumer BehaviourWeek 4:Elasticity and Demand Forecasting
Week 5:Production AnalysisWeek 6:Cost AnalysisWeek 7:Theory of Market – Perfect CompetitionWeek 8:Theory of Market – Monopoly and Monopolistic Competition
Week 9:Theory of Market – OligopolyWeek 10:Theory of Market – Oligopoly and Game theoryWeek 11:Theory of Market – Oligopoly and Game theoryWeek 12:Product Pricing and Course Summary