Economics For Managers Assignment

Topics: Costs, Supply and demand, Economics Pages: 16 (4389 words) Published: May 14, 2015
Economics for Managers Assignment

Program: MBA (2 Years) Sem-1
Subject Name
Permanent Enrollment Number (PEN)
Roll Number (SEN)
Student Name

Managerial Economics

a) Students are required to submit all three assignment sets ASSIGNMENT



Assignment A

Five Subjective Questions


Assignment B

Three Subjective Questions + Case Study


Assignment C

40 Objective Questions


b) Total weightage given to these assignments is 30%. OR 30 Marks c) All assignments are to be completed as typed in word/pdf.
c) All questions are required to be attempted.
d) All the three assignments are to be completed by due dates (specified from time to time) and need to be submitted for evaluation by Amity University.

( √ ) Tick mark in front of the assignments submitted
Assignment ‘A’

Copyright@Amity University

Assignment ‘B’

Assignment ‘C’

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Economics for Managers Assignment
Assignment: A
Q.1. What are indifference curves? Explain the consumers’ equilibrium under the assumptions of ordinal approach. Q.2. Examine the concept and relationship of Total, Average and marginal costs with the help of suitable diagram. Q.3. Differentiate and elaborate the concepts of returns to scale and law of variable proportions. Q.4. Why is demand forecasting essential? What are the possible consequences if a large scale firm places its product in the market without having estimated the demand for its product? Q.5. Discuss the various steps involved in a managerial decision making process. Explain, in detail, any two group decision making techniques.

Assignment: B
Q.1. Why a firm is price taker and not a price maker under perfect market conditions? Q.2. Profit maximization is theoretically the most sound but practically unattainable objective of business firms. In the light of this statement critically appraise the Baumol’s sales revenue maximization theory as an alternative objective of the firm.

Q.3. Distinguish between skimming price and penetration price policy. Which of these policies is relevant in pricing a new product under different competitive conditions in the market?

Case Study
Michael Wolfson, a computer programmer had a decent job with the financial powerhouse Bear, Stearns & Co. Now, he refurbishes computers at the basement in his house and sells it through e-bay. He plans to join as a school teacher. Michael lost his job in 2003. He was told that his job is being outsourced to India. Paul Schwartz, a mainframe programmer, who was earning $ 80,000 a year was told that his services were no longer required. He suspects that his job has been outsourced to India.

There is growing dissent among the Americans against the increasing practice of outsourcing. It has become an electoral issue in the coming presidential elections in the US. The Democratic candidate, John Kerry has made it an emotive issue, despite economists trying to portray the positive aspects of outsourcing.There are numerous reasons Copyright@Amity University

Page 3

Economics for Managers Assignment
for the growing apathy towards outsourcing. The prevailing economic situation and the increasing joblessness in the US have added fuel to the fire. However, many analysts feel that joblessness in the US is cyclical in nature resulting from the recession of 2001 and hence, a recovery will create job opportunities. Moreover, according to the U.S.-India Business Council, the increasing unemployment is also due to corporate restructuring and just a quarter of the job loss is due to outsourcing. Since, the beginning of 2001, the real job loss in US is estimated to be 2.3 million. In comparison, the actual job loss due to outsourcing is estimated to be only 200,000. Thus, it can be said that there are various other reasons for joblessness in the US. The outcry against outsourcing seems to be driven more by politics rather than economics Outsourcing forms a small proportion...
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