CP1005

Economics For Managers
Code: 
CP1005
Year / Semester: 
1st Semester
Objective: 

The objective is to give students grounding in the basic understanding of economic environment and tools for better analysis of economic situations and thus helping in decision making.

Credits: 
6

The Economy and its Basic Problems, Fundamentals of Market Economy-a) Laws of Demand, Supply and Market Equilibrium, b) Elasticity of Demand and Supply c) Market Equilibrium and Disequilibrium, Failure of the Market Economy and the Role of the Government, Theory of Consumer Demand-a) Cardinal Utility Approach b) Ordinal Utility Approach c) Recent Developments in Consumption Theory d) Consumer Surplus ,Theory of Production and Analysis of Costs –a) Production with One Variable Input, Production with Two Variable Input, Optimum Combination of Inputs ,Theory of Firm-a) Determination of Price and Output b) Objectives of Firms and Market Structure c) Determination of Price and Output Under Perfect Competition d) Determination of Price and Output Under Monopoly e) Determination of Price and Output Under Monopolistic Competition f) Determination of Price and Output Under Oligopoly ,Macroeconomics-a) Circular Flow Model of the Economy b) National Income :Concepts and Measurement c) Determination of National Income d) Income Determination with Government and Foreign Trade e) Theories of Aggregate Consumption f) Keynesian Theory of Interest ,Investment and the Principle of Accelerator

Suggested Readings: 
  1. H.L.Ahuja, “Business Economics: Micro & Macro”, S. Chand & Sons, New Delhi.
  2. M.Adhikari “Managerial Economics”, Khosla Education Publishers, New Delhi.
  3. O.P. Chopra, “Managerial Economics”, Tata McGraw Hill, New Delhi.
  4. Trivedi “Managerial Economics” ,Tata McGraw-Hill, 2002
  5. Dwivedi “Managerial Economics”, Vikas Publishing House Pvt Ltd, 6th edition, 2001.
  6. Shappiro, Macro Economics, TMH
  7. Christopher R Thomas & S Charles Maurice, Managerial Economics: Concepts and Applications; Eigth Edition, TMH