JNTU Anantapur First Year MBA Syllabus 2009 |
Managerial Economics |
UNIT – I : |
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.
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UNIT II : |
Objectives of the firm: Managerial theories of firm, Behavioural theories of firm, optimization techniques, optimization with calculus, New management tools of optimization. |
UNIT III : |
Basic Economic Principles the concept of opportunity cost, incremental concept, scarcity, marginalism, Equi-marginalism, Time perspective, discounting principle, risk and uncertainty.
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UNIT IV : |
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.
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UNIT V : |
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. |
UNIT VI : |
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.
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UNIT VII: |
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.
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UNIT VIII : |
Profit Management: Nature, scope, Theories of profit, Measurement policies, Cost Volume- Profit Analysis. |
REFERENCES |
- Economics for Managers, Hirschey, Thomson, 2007.
- Managerial Economics, Gupta, TMH 2009.
- Managerial Economics, Economic Tools for Today's Decision Makers, Keat, Pearson Education,
2007
- Managerial Economics, Concepts and applications, Thomas Maurice:TMH 2006
- Managerial EconomicsA Problem Solving Approach, Froeb:Thomson, 2007.
- Managerial Economics Analysis, Problems, Cases, Mehta,P.L., Sultan Chand and Sons,
New Delhi , 2001.
- Managerial Economics, Pearson Education, James L.Pappas and Engene F.Brigham: New Delhi , 2006.
- Managerial Economics, Suma Damodaran, Oxford , 2007.
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