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PROGRAMME STRUCTURE FOR
IIPM (C) & ISBE (PG)
S NoSubjectCredit
1.Economics for Managerial Decision Making - II2
2.Executive Communication2
3.Financial Management3
4.Human Resource Management2
5.Operations & Optimization Research3
6.Management Information System & KM3
7.National Economic Planning (Theory & Presentation)3
8.Sales Management2
Total Credits20
IMPORTANT NOTE
All the students of IIPM (C) & ISBE (PG) will study all the eight papers indicated in our course curriculum for Semester – II. However, out of these students whoever opt for an additional MBA degree from MGU will be examined in the first five papers directly by the university and in the rest three by IIPM. Those who, however, decide not to opt for MGU degree will still write examination for all the eight subjects, but all these papers will be administered by IIPM in their case.

ECONOMICS FOR MANAGERIAL DECISION MAKING-II
(MAAGERIAL ECONOMICS)

COURSE DURATION: 20 HOURS
COURSE CREDITS: 2

1. INTRIDUCTION
1.1 Economics and Managerial Decision Making: Managerial decision making under perfect information, risky, and uncertain situations 1.2 Managerial Economics: Definition and scope; Distinction between Economics and Managerial Economics

2. CONSUMER DECISION MAKING
2.1 Demand Side of the Market: Managerial implications of factors influencing demand for nondurables, durables, and services; Strategic responses in terms of product mix, packaging, quality, pricing, promotion, placement, etc. 2.2 Logic of Buying/Consumption: Attributes approach for explaining consumer choices (Note: There will definitely be some kind of question from this topic in the end term examination)

3. PRODUCER’S DECISION MAKING
3.1 Demand and Supply Elasticities: Elasticities and production & pricing lessons for a manager 3.2 Cost Dimensions: Managerial decision making and non traditional (engineering, incremental) costs, etc 3.3 Economies in operation: Economies/Diseconomies of scale and scope; Learning curve phenomenon; Managerial implications.

4. PRICING DECISIONS: ALTERNATIVE PARADIGMS OF DECISION MAKING 4.1 Neoclassical Model: Revenue, equilibrium, and profit positions; Critique 4.2 Sales Revenue Maximisation Model: Description; Critique

4.3 Behavioural Approach: Details; Applicability
4.4 Managerial Enterprise Model: Explanation; Relevance
4.5 Commentary on all the models put together

5. PRICING DECISIONS: OLIGOPOLISTIC MARKETS
5.1 Oligopoly: Meaning; Strategic (interdependent) vs. nonstrategic (independent) firm behaviour; Pricing (administered) in oligopoly; Why do firms grow big; Basic dilemma of oligopoly (cooperative vs. noncooperative behaviour); Dynamics of oligopolistic industries 5.2 Oligopoly Pricing Through Game Strategic Behaviour: Passive vs. aggressive behaviours; Strategic responses 5.3 Oligopoly Pricing Under Specific Assumptions: Duopoly: Meaning, Cournot’s model, Chamberlain’s model; Oligopoly: Collusive pricing; Noncollusive pricing, including Kinked demand curve and price leadership models 5.4 Oligopoly and the economy

(Note: The student, in addition to 2 prescribed texts, must also look up Lipsey & Chrystal-chapter on Oligopoly_for studying this topic)

6. PRICING DECISION: SPECIFIC MODELS OF PRICING
6.1 Multiplant operations and Pricing
6.2 Cartelization and Pricing
6.3 Transfer Pricing

7. PRICING DECISION: DECISION IN PRACTICE
7.1 Rule of Thumb Pricing
7.2 Mark up Pricing
7.3 Product Line Pricing
7.4 Price discovery through auction
7.5 Promotional Pricing

8. PRICING DECISIONS: NEW PRODUCT PRICING
8.1 Setting the Initial Price
8.2 Adjusting Price Overtime
(Note: Topics under units 6,7, and 8 must be discussed in detail. Minimum 2 questions shall be asked from these units)

ESSENTIAL TEXTS
P.L. MEHTA: Managerial Economics (Sultan Chand & Sons: Latest edition) Only select chapters •IVON PING: Managerial Economics (Blackwell Publishers) Select...
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