MANAGERIAL ECONOMICS
UNIT-I
Demand Analysis: Law of demand, Shifts in demand curve, Price elasticity of demand: Meaning, types and measurement; Demand forecasting methods; Utility Analysis: Cardinal utility analysis: Law of diminishing marginal utility, Law of equi-marginal utility, Consumer Equilibrium; Indifference curve analysis: Properties, Consumer Equilibrium, Income, Price and Substitution effects; Revealed Preference Theory;
Production Function: Law of variable proportion, Laws of returns to scale; Isocosts and Isoquants: Producer equilibrium; Cobb- Douglas Production Function.
UNIT-II
Cost of production, Modern theory of cost; Revenue concepts, Relationship between average revenue, marginal revenue and elasticity of demand.
Market Forms: Price and output determination under Perfect Competition, Monopolistic Competition, Monopoly, and Discriminating monopoly; Oligopoly: Kinked-demand model. Theories of factor pricing: marginal productivity and modern.
UNIT-III
National Income: Concepts, Methods and Problems in measuring National Income particularly in underdeveloped countries. Circular Flow of Income in 4 sector model.
Theories of Income, Output and Employment Determination: Classical and Keynesian Model, Principle of Effective Demand.
Consumption: Concept, Propensity to Consume – APC and MPC.
Investment and Multiplier: Investment Function and Marginal Efficiency of Capital, Concept of Multiplier and its working, Balanced Budget multiplier, Relevance of Investment multiplier in under developed nations.
UNIT-IV
Macro economic policies: Monetary and Fiscal; Demand for money: Classical, Keynesian, General Equilibrium of economy: IS – LM curve analysis.
Inflation: Meaning, Theories – Demand Pull and Cost Push, Control of inflation, Nature of inflation in under developed economies.
Trade Cycle: Meaning, Types and Phases of trade cycle.
Text Books:
1. Ahuja H.L, Modern Micro Economics: Theory and Applications, S. Chand & Co.
2. Rana and Verma, Macro Economic Analysis, Vishal Publishing Co.
Reference Books:
1. Lipsey & Chrystal, Economics, Oxford University Press
2. Koutsoyannis, A.., Modern Microeconomics, Macmillan Press Ltd.
3. Petersen, H.Craig & Lewis, W.Cris, Managerial Economics, Prentice Hall of India
4. Dean, Joel, Managerial Economics.
5. Shapiro, Edward, Macroeconomic Analysis, Harcourt Brace Jovanovich
UNIT-I
Demand Analysis: Law of demand, Shifts in demand curve, Price elasticity of demand: Meaning, types and measurement; Demand forecasting methods; Utility Analysis: Cardinal utility analysis: Law of diminishing marginal utility, Law of equi-marginal utility, Consumer Equilibrium; Indifference curve analysis: Properties, Consumer Equilibrium, Income, Price and Substitution effects; Revealed Preference Theory;
Production Function: Law of variable proportion, Laws of returns to scale; Isocosts and Isoquants: Producer equilibrium; Cobb- Douglas Production Function.
UNIT-II
Cost of production, Modern theory of cost; Revenue concepts, Relationship between average revenue, marginal revenue and elasticity of demand.
Market Forms: Price and output determination under Perfect Competition, Monopolistic Competition, Monopoly, and Discriminating monopoly; Oligopoly: Kinked-demand model. Theories of factor pricing: marginal productivity and modern.
UNIT-III
National Income: Concepts, Methods and Problems in measuring National Income particularly in underdeveloped countries. Circular Flow of Income in 4 sector model.
Theories of Income, Output and Employment Determination: Classical and Keynesian Model, Principle of Effective Demand.
Consumption: Concept, Propensity to Consume – APC and MPC.
Investment and Multiplier: Investment Function and Marginal Efficiency of Capital, Concept of Multiplier and its working, Balanced Budget multiplier, Relevance of Investment multiplier in under developed nations.
UNIT-IV
Macro economic policies: Monetary and Fiscal; Demand for money: Classical, Keynesian, General Equilibrium of economy: IS – LM curve analysis.
Inflation: Meaning, Theories – Demand Pull and Cost Push, Control of inflation, Nature of inflation in under developed economies.
Trade Cycle: Meaning, Types and Phases of trade cycle.
Text Books:
1. Ahuja H.L, Modern Micro Economics: Theory and Applications, S. Chand & Co.
2. Rana and Verma, Macro Economic Analysis, Vishal Publishing Co.
Reference Books:
1. Lipsey & Chrystal, Economics, Oxford University Press
2. Koutsoyannis, A.., Modern Microeconomics, Macmillan Press Ltd.
3. Petersen, H.Craig & Lewis, W.Cris, Managerial Economics, Prentice Hall of India
4. Dean, Joel, Managerial Economics.
5. Shapiro, Edward, Macroeconomic Analysis, Harcourt Brace Jovanovich
Disclaimer: The syllabus are subject to continual changes.Some of the content may have been changed.