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Home » Syllabus » Andhra Pradesh » Jawaharlal Nehru Technological University Hyderabad » Postgraduate Courses » MBA » Ist Semester (Effective from 2007 onwards)
Managerial Economics Syllabus
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Jawaharlal Nehru Technological University, Hyderabad

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Syllabus of Jawaharlal Nehru Technological University Hyderabad MBA - Managerial Economics

2. Managerial Economics

Objective of this course is to understand the relevance of economics in business management. This will enable the students to study functional areas of management such as Marketing , Production and Costing from a broader perspective.

1. Introduction to Managerial Economics: Definition, Nature and Scope, Relationship with other areas in Economics, Production Management, Marketing, Finance and Personnel, Operations research - The role of managerial economist.

2. Objectives of the firm: Managerial theories of firm, Behavioural theories of firm, optimization techniques, optimization with calculus, New management tools of optimization.

3. Basic economic principles – the concept of opportunity cost, incremental concept, scarcity, marginalism, Equi-marginalism, Time perspective, discounting principle, risk and uncertainty.

4. Theory of Demand: Demand Analysis, Elasticity of demand, types and significance of Elasticity of Demand. Demand estimation – Marketing research approaches to demand estimation. Need for forecasting, forecasting techniques. Supply Analysis – Supply function, the Law of Supply, Elasticity of Supply.

5. Production Analysis: Production function, Marginal Rate of Technical Substitution, Isoquants and Isocosts, Production function with one/two variables, Cobb-Douglas Production Function, Returns to Scale and Returns to Factors, Economies of scale- Innovations and global competitiveness.

6. Cost theory and estimation: Cost concepts, determinants of cost, cost-output relationship in the short run and long run, short run vs. long run costs, average cost curves, Overall Cost leadership.

7. Market Structure and Pricing practices: Features and Types of different competitive situations - Price-Output determination in Perfect competition, Monopoly, Monopolistic competition and Oligopoly both the long run and short run. Pricing philosophy – Pricing methods in practice: Price discrimination, product line pricing. Pricing strategies: skimming pricing, penetration pricing, Loss Leader pricing. Pricing of multiple products.

8. Profit Management: Nature, scope, Theories of profit, Measurement policies, Cost – Volume- Profit Analysis.

References:

Hirschey: Economics for Managers, Thomson, 2007.

Petersen,Lewis and Jain: Managerial Economics, Pearson/PHI, 2006

Gupta: Managerial Economics 1e TMH 2005.

Dominic Salvatore, Managerial Economics, Thomson, 2006

Keat, Managerial Economics : Economic Tools for Today’s Decision Makers, Pearson Education, 2007

Mote Paul: Managerial Economics 1e TMH 2004

Froeb: Managerial Economics—A Problem Solving Approach, Thomson, 2007.

Mehta,P.L., Managerial Economics ­ Analysis, Problems, Cases, Sultan Chand and Sons, New Delhi, 2001.

James L.Pappas and Engene F.Brigham: Managerial Economics, Pearson Education, New Delhi, 2006.

Suma Damodaran: Managerial Economics, Oxford, 2007.

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