Managerial Economics

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I.T.S – Institute of Management
Greater Noida
PGDM (2013-15) Term- I

Course Title : Managerial Economics
Course Credits : 3
Course Faculty : Prof. Animesh Singh

Learning Objectives

At the end of this course, the student should be able to: • develop a basic understanding of economics as an important tool for taking effective managerial decisions; • develop the concept of managerial economics and its applications; and • to apprise how managers need to understand fundamental demand supply forces in a market to arrive at best decisions keeping in view the competition in different market forms.

Pedagogy

Course will be delivered through lecture method using power point slides, class discussions using case studies.

Session Plan
|Session |Topic |Readings |
| 1 & 2 |Introduction to micro & macro economics, markets & industry concept, importance |Chapter 1 of text book. Case 1-1, |
| |of economics for managers, economic role of government, general equilibrium, |1-2, 1-3, 1-4, 1-5, and 1-6 |
| |demand schedule and curve | |
| 3 & 4 |Theory of Firm, factors affecting demand and supply, equilibrium price and |Chapter 1, 2, 3 of Text Book, Case |
| |quantity, elasticity of demand and supply, measurement of elasticity of demand |1-7, 1-8, 1-9, 1-10, 1-11, 1-12 |
|5 & 6 |Consumer Behavior, utility, law of diminishing marginal utility, why demand |Chapter 4 of Geetika & Piyali Ghosh |
| |curve slopes downward, derivation of market demand |

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