School of Distance Education
Bharathiar University, Coimbatore - 641 046
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Managerial Economics: Definition, Nature, Scope
Fundamental Concepts of Managerial Economics
Elasticity of Demand
Theory of Cost
Market Structure & Pricing and Output Decisions
Cost - Volume - Profit (CVP) Analysis
Inflation & Monetary Policy
Balance of Payments
Number of Credit Hours : 3
Subject Description: This course presents the principles of economics, demand analysis, market structure and macro environment and its application in the decision making.
Goals: To enable the students to learn the basic principles of economics and its application in the decision making in the business.
Objectives: On successful completion of the course the students should have:
understood the principles economics.
learnt the demand analysis and various cost aspects in the business.
learnt the market structure and the decision making process for various markets.
learnt the profit, profit policies, cost volumes relationship.
learnt the macro environment of the business.
Managerial Economics - meaning, nature and scope - Managerial Economics and business decision making - Role of Managerial Economist - Fundamental concepts of Managerial Economics- Demand Analysis - meaning, determinants and types of demand - Elasticity of demand.
Supply meaning and determinants - production decisions - production functions - Isoquants, Expansion path - Cobb-Douglas function.
Cost concepts - cost - output relationship - Economies and diseconomies of scale - cost functions.
Market structure - characteristics - Pricing and output decisions - methods of pricing - differential pricing - Government intervention and pricing.
Profit - Meaning and nature - Profit policies - Profit planning and forecasting - Cost volume profit analysis - Investment analysis.
National Income - Business cycle - inflation and deflation - balance of payments - Monetary and Fiscal Policies.
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