Managerial Economics (Sec-B)

Managerial Economics.jpgManagerial Economics.jpg

Background of the Course:

 

Students focus on the application of economic models and rationale choice to business decision making. Topics include an overview of managerial economics; demand and supply; costs of production and the organization of the firm; market structure and pricing and output decisions; game theory and pricing strategies; and the economics of information and the role of government in the marketplace.

Course Objectives:

 

to train students to better understand the modern world economy – with courses in areas of Economic Growth and Sustainable Development; Consumers, Producers, Markets and Industries; and International Trade and Globalization; andto train students to become better decision-makers in today’s complex and evolving business environment – with courses in areas of Business Policy, Game Theory, and Applied Economics.



Course Outcomes and PEO mapping:

 

After the completion of the course, the students are expected to become adept in:

 

Program Educational Outcomes (PEOs)

PEO1

Apply multidisciplinary quantitative and qualitative techniques, and knowledge of

digital technologies, to analyze business scenarios

PEO2

Work effectively in teams, demonstrate leadership and data-driven decision-making skills

PEO3

Integrate theory and practice to find sustainable solutions to strategic business problems

PEO4

Demonstrate effective written and oral communication skills

PEO5

Develop cultural sensitivity and exhibit high degree of integrity and ethics in behaviour




















 

Course Outcome (COs)

PEOs

CO1

Understand the roles of managers in firms and the internal and external decisions to be made by managers.

(PEO1, PEO4)

CO2

Analyze the demand and supply conditions and assess the position of a company

(PEO2, PEO3)

CO3

Analyze real-world business problems with a systematic

theoretical framework.

(PEO3)

CO4

Design competition strategies, including costing, pricing, product

differentiation, and market environment according to the natures of products and the structures of the markets

(PEO1, PEO5)

CO5

Make optimal business decisions by integrating the concepts of

economics, mathematics, and statistics

(PEO2, PEO3)

 

TEXTBOOK

 

1. Microeconomics: Mankiw and Taylor

 

References

 

  1. G, Mankiw and M. Taylor. 2011. Microeconomics. South Western of Cengage Learing. Latest edition.

  2. R S. Pindyck, D.L. Rubinfeld and L, Mehta, (2007), Microeconomics, 7th edition, Prentice Hall, India. Latest edition.

  3. Lipsey and Chrystal. 2007. Economics. Oxford University Press.



DURATION: 10 sessions of 90 minutes each

 

PEDAGOGY:

 

Teaching Pedagogy will consist of classroom teaching, analysis of cases.

 

COMPONENTS OF EVALUATION:




S.No.

Particulars

Percentage

1

Project (group)

40%

2

End Term

40%

3

Attendance

20%

Total

100%