Unit 1: Background, meaning, definition, features, scope and importance of managerial economics and basic functions of managerial economist.
Unit 2: Demand analysis, concepts of elasticity of demand and their practical applications in business decisions.
Unit 3: The concept of demand forecasting, its importance, various methods of demand forecasting for both old and new product.
Unit 4: Concept of supply, various aspects of supply, concept of market equilibrium and the forces that bring about changes in market equilibrium.
Unit 5: Concept of production function and its importance, different types of production functions, benefits of large scale production, their importance,different types of cost concepts, cost functions and their implications in managerial decision making.
Unit 6: Changing objectives of a business firm, various models which highlights business and their implications on a business unit.
Unit 7: Revenue concepts which help to make cost benefit analysis, concept of pricing policy with their determinants, different objectives of pricing policy and various pricing methods adopted by business firms.
Unit 8: Meaning of market and market structure, kinds of markets, perfect competition, monopoly, monopolistic competition, Monopsony, Duopsony, Oligopsony and industrial analysis.
SUBJECT INTRODUCTION
Unit 9: Consumer surplus, operational significance of consumer surplus, producer surplus, and the application of concepts.
Unit 10: Concepts of macro economics, ratios, index numbers, and its significance in modern business management.
Unit 11: Consumption and investment functions with their major
determinants, importance of multiplier and accelerator in national income multiplication.
Unit 12: Economic stability, different instruments that are applied to insure economic stability in a modern economy.
Unit 13: Concepts of trait cycle, causes and effects, various theories and measures to control business cycle.
Unit 14: Inflation and deflations and causes effects, kinds of inflation, various remedial measures to control inflation, deflation and stagflation.
Unit 15: Various kinds of environmental degradation, challenges and importance of understanding environment and its influence on business.