Detailed Course Curriculum PGDM ME 2010

Detailed Course Curriculum PGDM ME 2010 - Transcript

Institute of Management Technology Ghaziabad
Managerial Economics

Objective of the Course The main objective is to develop decision making capacity in students Managerial Economics can be viewed as an application of that part of micro economics that focuses on topics like demand production cost pricing and market structure Understanding these principle will help to develop a rational decision making Managerial Economics sharpens the analytical framework that the executive must bring to bear on managerial decisions In general Managerial Economics will help managers to ensure that resources are allocated efficiently within the firm and that the firm responds appropriately to changes in the Economic Environment
LECTURE PLAN
Module Topics Readings Sessions
I Introduction Introduction to economics nature and scope of Managerial Economics Economics and other disciplines
Tools and techniques of decision making Ch 1 text book hand outs
Ch 2 text book 1 2
II Demand Theory
Demand for a commodity Price Elasticity of demand Income elasticity Cross elasticity uses of different concepts elasticity in business decisions
Ch 3 text book
3 5
Demand Estimation Forecasting Demand Estimation Approaches to demand estimation Introduction to Regression analysis Simple Regression and Multiple Regression problems in Regression Analysis Demand Estimation by Regression Analysis
Demand Forecasting Ch 4 text book
Ch 5 text book

6 8
9 10
Production Theory and Estimation Production function Production function with one variable input Production function with two variable inputs optimal combination of inputs Returns to scale Empirical production functions Ch 6 text book
11 13
V Cost Theory and Estimation Nature of costs short run cost functions long run cost functions economies of scale Learning curve Cost Volume profit Analysis Empirical cost functions Ch 7 text book
14 15
VI Market Structure Perfect Competition
Monopoly
Monopolistic Competition
Oligopoly and Game Theory Ch 8 10 text book 16 18
VII Pricing Practices 1 Pricing of multiple products Price Discrimination Pricing in practice Ch 11 text book 19 20

Pedagogy Class room lectures to explain fundamental concepts and theories of managerial economics Real world business examples and cases presentations will be used to illustrate the same
Evaluation
1 Quiz 4x 5 marks each 20
2 Midterm test 20
3 Assignment project presentation
Class Participation 20
4 End Term 40
Total 100 marks
Text Book
Managerial Economics Principles and Worldwide Applications by D Salvatore Sixth Edition OUP 2008
Other References
Mansfield Edwin Allen Bruce and Doherty Neil A Managerial Economics W W Norton Company New York 2002
Truett Truett Managerial Economics Wiley Publication
Petersen Craig H Cris Lewis and S K Jain Managerial Economics Pearson 2007
Thomas R Christopher and Maurice S Charles Managerial Economics Macgraw Hill 2005