Nature and scope of Managerial Economics; Economics vs. Managerial Economics; Demand and Supply: Statistical demand and supply analysis; Managerial application of the elasticity of demand and supply; Estimation of cost and production function, Forecasting techniques and their use for decision-making at different levels; Linear programming and production analysis; Pricing : Price output policies - a review with special reference to conditions of uncertainty; pricing techniques, kinds of pricing problems; Basic price, product line pricing, price discount structure; Pricing in public firms; Capital Budgeting : Theory of Investment vs. Capital Budgeting; Investment decisions - Pay Back Method, Average Return on Investment or Accounting Rate of Return; Net Present value, Internal Rate of Return Method etc. Social Cost Benefits Analysis: Meaning and role, identification of social costs and benefits; Introduction to the techniques of measurement. Location Theory: Basic elements of location decisions; Decision rules in plant location; Location models: Cost Minimisation, Market Area Competition; Linear programming in location analysis; Industrial Policy: Industrial Policy in India since Independence; Industrial licensing policy and procedures; Foreign collaboration andinvestment; Technology policy, etc.
Text/Reference Books:
- Dominick Salvatore, Managerial Economics in a Global Economy, South Western: Thomson
- H. Craig Peterson and W. Chis Lewis, Managerial Economics, New Delhi: Prentice Hall of India
- D.N. Dwivedi, Managerial Economics, New Delhi: Vikas Publishing House Pvt. Ltd.
- R.S.Pindyck and D.I.Rubinfeld, Microeconomics, London: MacMillan
- Soumyen Sikdar, Principles of Macro Economics, Oxford University Press
- Ruddar Dutt and K.P.M. Sundaram, Indian Economy, New Delhi: S.Chand & Company Ltd.
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