Syllabus of National Institute of Technology - Tiruchirappalli (NIT-T) MBA - MB703 Micro Economics

Importance of Micro Economics in Managerial Decision Making-Micro economic analysis & its relationship to functional management area Utility analysis of Consumer Behaviour indifference curve analysis-Diminishing marginal utility, Equi-Marginal utility, indifference curve and revealed preference theory.

Demand Supply analysis-Elasticity, measurement and application-supply function and elasticity-Demand Forecasting-.Time series-regression and smoothening techniques.

Production function-ISO cost, ISO Quant-expansion path returns to scale-increasing, constant and diminishing returns-cost analysis-total cost, average cost, and marginal cost, -AVC, AFC, AC & MC relationships-short nun and long run cost curves-revenue analysis-total revenue and avenge revenue and marginal revenue.

Breakeven analysis-competition, market morphology-price and output determination-shape of revenue cost curves under various types of competition-profit maximization during short run and long run under various types of competition.

Product pricing-pricing methods & policies-Capital budgeting-pay back period-net present value and internal rate of return.

Books:

1. Konlsoyannis, A., 'Modern Micro Economics' MacMillan, 2nd edn. 1996.

2. Dewett, K.K., 'Modern Economic Theory', S. Chand & Company, 1994