डॉ. बी. आर. अम्बेडकर विश्वविद्यालय दिल्ली 
| Course Type | Course Code | No. Of Credits |
|---|---|---|
| Foundation Core | SBP2MB126 | 2 |
Semester and Year Offered: 1st Semester
Course Coordinator and Team: Nidhi Kaicker
Email of course coordinator: nidhi[at]aud[dot]ac[dot]in
Pre-requisites: None
Aim: To provide students with a basic understanding of the economic theory and analytical tools that can be used in decision making problems.
Course Outcomes: At the end of the course, the participants will be able to:
- Understand the reason for existence of firms and economic goals of a firm
- Understand the role of managers in a firm and apply economic way of thinking to individual and business decisions
- Design competition strategies, including costing, pricing, product differentiation, and market environment according to the natures of products and the structures of the markets.
- Appreciate the role that governments play in market based economies.
Brief description of modules/ Main modules: Unit 1: Fundamentals of Managerial Economics Goals and constraints; markets and firms; demand, supply and equilibrium; economic way of thinking
Unit 2: Consumer Behaviour Utility and indifferent curves; demand schedule, function law of demand; determinants of demand; elasticity – price, income and cross price; applications of elasticity and taxation; price controls
Unit 3: Producer Behaviour Production function – short run and long run; product curves; types of costs; cost functions – short run and long run; supply curve; economies of scope, scale and learning curve
Unit 4: Market Structures Types of market structures; perfect competition – price taker, shut down point, firm and market equilibrium, short run and long run equilibrium; monopoly, barriers to entry and monopolistic competition; oligopoly models and cartel
Unit 5: Economics of Information Pricing strategies; asymmetric information and auctions; role of government in marketplace
Assessment Details with weights:
| Nature of Assessment | Weight |
|---|---|
| Analysis of Cases | 30% |
| Term Paper / Group Project | 30% |
| End Term Assessment | 40% |
Reading List:
- Mankiw, N.G. (2012). Principles of Economics, 6thedition, Cengage: New Delhi
- McEachern, W. A. andKaur, S. (2012). Micro ECON: Principle of Microeconomics, Cengage: New Delhi
- Peterson, C.H., Lewis, W.C. and Jain, S.K. (2006). Managerial Economics, 4thedition, Dorling Kindersley: New Delhi
- Pindyck, R.S., Rubenfeld, D. L. and Mehta, P.L. (2009). Microeconomics, 7thedition, Pearson: New Delhi
- Salvatore, D. (2012). Managerial Economics: Principles and Worldwide Application, 7thedition, Oxford University Press: New Delhi
ADDITIONAL REFERENCE:
- Additional Cases and Readings / Articles are provided to the participants in form of a course manual as the commencement of the session.