Preview

Sahara

Satisfactory Essays
Open Document
Open Document
809 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Sahara
Core Course name MANAGERIAL ECONOMICS-I MBA I(2012-14), Semester I Course Advisor Prof. S Debi / Prof. S. Tripathy Total Credits 2 Total Sessions 20 Course Contents Module 1 Goal of Firm Household Consumer Behavior Utility Analysis, Demand Theory and Elasticity Analysis Estimation of Demand Module 2 Production Theory and Analysis Short run and Long run Behaviour Cost Theory and Analysis Short run and Long run Behaviour, Transaction Cost Analysis. Module 3 Types of Market Perfect Competition- Price and output decision in short run and in the long run in perfect competition Monopoly-Price and Output Decision in Short run and Long run, Price discrimination. Module 4 Monopolistic competition- Price and Output Decision under monopolistic competition, Role of selling cost Oligopoly-Price output determination under oligopoly, Price leadership, Price rigidity, Application of Game theory to deteremine optimal outcome under oligopolistic competition Oligopoly vs. duopoly SESSION PLAN Session Downloads Assignments LinksCase Analysis Course Objective The primary objective of this course is to develop an understanding on various micro economic concepts. It deals with the application of those concepts in the process of business decision making. It studies and analyses the different factors underlying the behavior of firms under various market structures. In order to make the course application oriented solution of various real life cases are included in the pedagogy. Pedagogy Class room discussion and case study analysis. Session Details Session Topic Issues to be Discussed Assignments. 1 I. The Firm and its Goal. II. The house hold and demand. 1.Introduction to managerial economics. 2.The nature of the Firm its Goal 3.House hold as a consumer. 4.Decision making process of the consumer. 5.Consumers equilibrium and optimal decision. Text book Pg No 03--20 Study material will be provided by the course instructor. Text book Pg No 78--111 2 Demand theory and analysis.


Links: ase Analysis Course Objective The primary objective of this course is to develop an understanding on various micro economic concepts. It deals with the application of those concepts in the process of business decision making. It studies and analyses the different factors underlying the behavior of firms under various market structures. In order to make the course application oriented solution of various real life cases are included in the pedagogy. Pedagogy Class room discussion and case study analysis. Session Details Session Topic Issues to be Discussed Assignments. 1 I. The Firm and its Goal. II. The house hold and demand. 1.Introduction to managerial economics. 2.The nature of the Firm its Goal 3.House hold as a consumer. 4.Decision making process of the consumer. 5.Consumers equilibrium and optimal decision. Text book Pg No 03--20 Study material will be provided by the course instructor. Text book Pg No 78--111 2 Demand theory and analysis. The individual demand. The market demand. The Law of Demand The exception to Law of Demand The individual supply. The determination of value. Text book Pg No 67 --95 Case Analysis 3 The elasticity of demand. The concept of elasticity. The price elasticity. Income elasticity. Cross Elasticity Total and Marginal revenue Text book Pg No 67--95 4 Estimation of demand Linear Regression Analysis. Multiple Regression Analysis. Estimation and interpretation of regression coefficients. Text book Pg No 107-138 5 Estimation of demand. Types of Demand Estimation Problems with regression analysis. Text book Pg No 107--138 Case Study. 6 Production Theory and Analysis The Production function. The productions function with one variable input. Text book Pg No 177-218 7 Production Theory and Analysis The productions function with two variable inputs. Long Run production analysis. Text book 177 - 218 Case Study 8 Cost Theory and Analysis. The Economic Concept of cost Production and Cost Short Run Cost Function. Text book pg.no233 258. 9 Cost Theory Long run cost function. Economies of Scale. Learning Curve. Economies of scope. Text book Pg No 233 - 258 10 -11 Market and its Types Perfect Competition The concept of firm and Industry Types of Market Characteristic features of perfect competition. Price and output decision in short run and in the long run. Shut down point. Text book Pg No 297-- 324 Case Study. 12 ,13,14 Monopoly. Characteristic features of monopoly. Price and Output Decision in Short run and in Long run. Application of monopoly model. Price discrimination. Dead Weight loss. Text book Pg No 297--324 15 , 16 Monopolistic competition. Characteristic feature of monopolistic competition. Monopolistic competition and selling cost. Price and output equilibrium under monopolistic competition. Determination of group equilibrium under monopolistic competition. Text book pg.No 329 - 357 17 Monopolistic competition. Selling cost and advertisement. Role of selling cost. Effect of selling cost on demand. Optimum level of selling cost with price and product design as constant. Optimum level of selling cost with both price and output variable. Effect of selling cost on price, output and elasticity of demand. Study material will be provided. Case Study. 18 Oligopoly Characteristics of Oligopoly. Collusive Oligopoly. Price leadership. Price output determination under low cost price leadership. Price leadership by the dominant Firm. Text book Pg No 329--357 Case Analysis. 19 20 Oligopoly. The concept of price rigidity. The Kinked Demand curve. Price rigidity under different condition. Application of Game Theory in oligopoly. Prisoners Dilemma and Pay off Matrix in Oligopoly. Oligopoly vs. duopoly Text book Pg No 329---357 Case Analysis. Evaluation End Term- 50 Mid Term- 20 Quiz- 20 Assignment 10 Total ------------100Text Books MANAGERIAL ECONOMICs By Craig H. Petersen, W. Cris Lewis, Sudhir K. Jain Of PEARSON EDUCATION. Reference Books Modern Micro Economics by A. Koutsoyiannis. Managerial Economics by D. Salvatore. Managerial Economics by Keat and Young. Managerial Economics by Suma Damodaran. Y, dXiJ(x( I_TS 1EZBmU/xYy5g/GMGeD3Vqq8K)fw9 xrxwrTZaGy8IjbRcXI u3KGnD1NIBs RuKV.ELM2fi V vlu8zH (W )6-rCSj id DAIqbJx6kASht(QpmcaSlXP1Mh9MVdDAaVBfJP8 AVf 6Q 7
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Good Essays

    Xecom Uop Week4
    • 984 Words
    • 4 Pages

    Xecom Uop Week4

    To consider different roles in the economy we will have to look at competitive markets, monopolies, and oligopolies. We will discuss in this paper exactly how each of these roles play a part in our economy. Some of the things we will discuss are the characteristics of each of these market structures, along with how price is determined in each of these structures. Other topics will include how the output of each market structure is determined in terms of maximizing profits. The last two things we will look at are the barriers to entry if and ultimately the role in which each market structure plays in this economy.…

    • 984 Words
    • 4 Pages
    Good Essays
    Read More
  • Powerful Essays

    Eco204 Potato Chip Monopoly
    • 1755 Words
    • 8 Pages

    Eco204 Potato Chip Monopoly

    A monopoly is an industry composed of only one firm that produces a product for which there are no close substitutions and in which significant barriers exist to prevent new firms from entering into the industry (Case, 2009). In a different definition, it can be distinguished by a lack of financially viable competition to produce the goods or services as well as to substitute goods. Monopolies often refer to a procedure by which a company could gain a determinedly larger market than what would be expected under an ideal competition. This paper will emphasize on several components such as how a monopoly can benefit towards stakeholders or owners. Also, how the changes could take place according to price and output of the goods and services in a particular market place and how the market structure can be beneficial to the Wonks potato chip monopoly.…

    • 1755 Words
    • 8 Pages
    Powerful Essays
    Read More
  • Satisfactory Essays

    wk 2 paper
    • 315 Words
    • 1 Page

    wk 2 paper

    The purpose of this paper is to discuss the Supply and Demand simulation from the student website. The idea is to identify two microeconomic and two macroeconomic principles present in the simulation and to explain why these principles are categorized as macro or microeconomic. The paper will also determine one shift of the supply curve and one shift of the demand curve from the simulation, as well as why these shifts happen. Their impact on the equilibrium price, on decision making, and on quantity will be also analyzed. Then, it will refer to ways in which concepts about supply and demand can be applied in a real life-situation or in the workplace. The paper will also refer to ways in which concepts of micro and macroeconomics help in understanding factors that influence movements in supply and demand on the equilibrium price and quantity. Last, the paper will refer to how the price elasticity of demand has an impact on the consumer’s purchasing and on the pricing strategy of the company. Macro and Microeconomic Principles…

    • 315 Words
    • 1 Page
    Satisfactory Essays
    Read More
  • Powerful Essays

    Mkt 501
    • 1567 Words
    • 7 Pages

    Mkt 501

    This Session Long Project is aimed to integrate all the previous assignments and which we have learned during last week of discussion in class under the umbrella of “Strategic Marketing” including four P’s of marketing i.e. Products, Promotion, Pricing and Placement. Pricing refers to the process employed in order to determine the amount firm will receive after handing over its products to end users of consumers. There are numerous factors on the basis of which price of product is determined including mainly manufacturing cost, conditions of markets, market place, quality of products and so forth. In the field of microeconomics the pricing is considered as the key variable in allocating theory of price. It is one of the important and fundamental dimension of financial modeling and marketing mix (Carter, 1992).…

    • 1567 Words
    • 7 Pages
    Powerful Essays
    Read More
  • Good Essays

    Should College athletes be paid
    • 1202 Words
    • 5 Pages

    Should College athletes be paid

    This is a one-semester course on the fundamental concepts of macro and microeconomic analysis. The course emphasizes the basic tools and concepts, which can be used in the firm’s management and decision-making process. These concepts build on standard economic analysis of the firm such as price decisions, cost, output, and revenue. These concepts are covered in relation to competitive, monopolistic, and oligopolistic market structures. The first half of the course deals with the macro issues and economic policy: inflation, unemployment, national income accounts, fiscal policy, monetary policy, and trade. The second part of the course examines consumer behavior, market structure, labor issues, income distribution, and policy differences.…

    • 1202 Words
    • 5 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    Econ
    • 495 Words
    • 2 Pages

    Econ

    Spring 2013 Instructor: Laura Youderian Email: youderianx@xavier.edu Office: Smith Hall 315 Office Hours: TR: 1:30-2:30, 4-6 Purpose of Course This course is designed to help students understand consumer and firm behavior in decision making and the market process utilizing economic theories and techniques. Students should expect rigorous training on supply and demand analysis, regression analysis, consumer behavior, production theory, market structure, game theory and pricing strategies. We will focus on the application of economic tools to the day-to-day decision making for managers at all organizational levels. Text Michael R. Baye, Managerial Economics and Business Strategy, 7/E Required supplemental readings will be assigned through the course to reflect current business news. You will be responsible for all material covered in lecture as well as any handouts that are distributed. Grading Mid-term exam 1 Mid-term exam 2 Final exam Homework 33% 33% 34% 0% Course number: Econ 600-02 Location: Smith Hall 249 Time: Tuesdays 6PM-8:30PM…

    • 495 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Good Essays

    Elasticity of Demand
    • 2167 Words
    • 9 Pages

    Elasticity of Demand

    This is the second chapter in Part Two, “Price, Quantity, and Efficiency.” Both the elasticity coefficient and the total revenue test for measuring price elasticity of demand are presented in the chapter. The text attempts to sharpen students’ ability to estimate price elasticity by discussing its major determinants. The chapter reviews a number of applications and presents empirical estimates for a variety of products. Income elasticities of demand, and price elasticity of supply are also addressed.…

    • 2167 Words
    • 9 Pages
    Good Essays
    Read More
  • Good Essays

    Monopolitic Competition in Hair Salon Industry
    • 835 Words
    • 4 Pages

    Monopolitic Competition in Hair Salon Industry

    Each firm makes independent decisions about price and output, based on its product, its market, and its costs of production: The various hair dressing salons in the city have different prices as there are different costs (fixed and variable – Rent, staff, hair care products) in different salons. Moreover, each hair dresser tries to differentiate its product based on branding.…

    • 835 Words
    • 4 Pages
    Good Essays
    Read More
  • Better Essays

    Maximizing Profits in Market Structure
    • 1226 Words
    • 5 Pages

    Maximizing Profits in Market Structure

    The subject matter of competitive markets can be complex with many extraneous details that can make all the difference between being a perfect competition, monopolistic competition, a monopoly, or an oligopoly. Each of these types of markets have specific characteristics and economic market effects that include entry barriers, price and output determination to produce the most profits for any given business or company. Even though these differences may seem small, they can determine whether a business can succeed in today’s economy or forever become part of human history.…

    • 1226 Words
    • 5 Pages
    Better Essays
    Read More
  • Powerful Essays

    The Theory of the Contestable Market
    • 2218 Words
    • 9 Pages

    The Theory of the Contestable Market

    The static view of competition focuses on the market structure as the key determining factor in the performance and behaviour of firms. It is the neoclassical approach of competition, origination from the work of economist’s Cournot and Edgeworth. This traditional view sees market structure as rigidly determining firm 's conduct (its output decisions and pricing behaviour), which yields an industry 's overall performance, such as its efficiency and profitability. Firms limit their behaviour to a certain industry model or strategic logic that is built on frequent price cuts, in order to out-compete rivals and deter entry. An industry is considered competitive depending on its market structure. At one extreme is perfect competition, which is considered perfectly competitive. At the other extreme is a monopoly structure, with a sole producer, characterised by low competition. In between the spectrum is an oligopolistic structure, and a monopolistic structure. These structures embody less competition than in perfect competition, but more than in a monopoly situation. The characteristics of competitive markets are thus large number of firms, or in other words a low…

    • 2218 Words
    • 9 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    LBE 100 Microeconomics
    • 2151 Words
    • 9 Pages

    LBE 100 Microeconomics

    Welcome to LBE 100 Microeconomics. You may be taking this unit as part of an Economics major or minor, or as one of the required units for professional recognition in Accounting, or to support your major in Finance, Marketing, Management, or because you recognise that some knowledge of economics is essential these days for understanding key issues in business, politics and society, whatever career you pursue. In each case, we hope you will enjoy the unit, as well as finding it useful. We will be using the unit to introduce you to the economic way of thinking and analysing problems. Obviously, we will only be able to tackle some of the many aspects of economics in this unit, but the economic way…

    • 2151 Words
    • 9 Pages
    Powerful Essays
    Read More
  • Satisfactory Essays

    Word
    • 790 Words
    • 4 Pages

    Word

    Lecture 1. Syllabus Review. Academic course overview. Section I. The Theoretical fundamentals of Pricing in a market economy: Functioning, and comparative efficiency of the Pricing system in conditions of the Pure Competition, and Pure Monopoly. Practical Module 1. Comparative analysis of Prices and Outputs as a result of Pure Competition, and Pure Monopoly. Basic Models of the Markets can be presented as follows: (1) Market of Pure Competition Features:  Presence of many firms, but none of which can render a considerable influence on level of the current prices, because of each of them holds a small market share,  Uniformity and interchangeability of the competing products/services, and  Lack of the Price restrictions. Pricing strategy: The role of marketing researches, Pricing Policy, actions for sale stimulation, is insignificant; therefore the prices are formed under the influence of a supply and demand. 1.1. Strategy of “Accidental Prices Reduction” is known as an establishment of the greatest possible price, which then slowly decreases to level of the market; for this period, the firm manages to sell a quantity of the goods, thereby, having increased the income. (2) Market of Pure Monopoly Pricing strategies: The given set of typical strategies are developing by a principle of the Price Discrimination, including:  Differentiation on groups of buyers,  Differentiation by a variant of the products or services, and  Differentiation on territory. 2.1. Strategy of Plural Prices - as a result of the analysis of Demand Curves, a monopolist sets as much as possible high price for each group of consumers. 2.2. Strategy of Market Segmentation is determined as…

    • 790 Words
    • 4 Pages
    Satisfactory Essays
    Read More
  • Powerful Essays

    Advanced Placement Microeconomics
    • 23453 Words
    • 94 Pages

    Advanced Placement Microeconomics

    TEXT: Economics, Principles, Problems and Policies, 15th Edition, McConnell and Brue Video: Econ U$A series with discussion Class Activities: APIP workbook activities, reinforcement and writing activities and other teacher-developed materials This semester-long course gives students a thorough understanding of the principles of economics that apply to the function of individual decision-makers, both consumers and producers, within larger economic systems. It places primary emphasis on the nature and function of product markets. It also examines factor markets and the role of government in promoting greater efficiency and equity in the economy. Topic Timing (days) Chapters 1,2, 4, 6 Unit One 8-12% of AP Basic Economic Concepts 9 Micro Exam Scarcity and Opportunity Cost Economic Systems: the Market System Specialization and Comparative Advantage 3, 20, 21 20-30% of AP Micro Exam Unit Two Nature and Function of Product Market Supply and Demand Ceilings and floors Elasticity and applications Models of consumer choice 15…

    • 23453 Words
    • 94 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    Microeconomic Theory
    • 2294 Words
    • 10 Pages

    Microeconomic Theory

    This course presents the basic analytical tools of microeconomics, building on the concepts and intuition that students will have derived from their micro principles courses.…

    • 2294 Words
    • 10 Pages
    Powerful Essays
    Read More
  • Better Essays

    Article Analysis for Economics
    • 1621 Words
    • 7 Pages

    Article Analysis for Economics

    The article that will be used for this analysis is “Supply, demand, and the Internet-economic lessons for microeconomic principles courses” by Fred Englander and Ronald L. Moy. There will be definitions for the following economics, microeconomics, Law of supply and the Law of demand. Another subject that will be discussed is the identification of factors that lead to the changes in supply and demand. In order to better understand what is being discussed going to start with the definitions.…

    • 1621 Words
    • 7 Pages
    Better Essays
    Read More

Related Topics