Economics for Managerial Decision Making

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Course TypeCourse CodeNo. Of Credits
Foundation CoreSBP1BB0184

Course Description:The course ‘Economics for Managerial Decision Making’ sensitises the participants to the decision making process within various organizational settings through a microeconomics lens. It will enable the students to identify major areas of management decision making for which economic analysis is a useful input. It focuses on demand estimation and forecasting, production and cost analysis under different market structures, pricing decisions, analysis of market failures, and decision making under uncertainty.

The course, carrying 4 credits, comprise the following modules.

  • Microeconomic Concepts
  • Theory of Consumer Choice
  • Production and Cost
  • Market Structures
  • Market Failures and Role of the State

Assessment Pattern (Tentative)


Class Assignments – 2 assignments of 10% weightage each


Case Studies – 2 assignments of 10% weightage each


Mid Term Exam


End Term Exam


Suggested Readings

  • Managerial Economics: Concepts and Principles, by Donald N. Stengal, Harvard Business School Press
  • Mankiw, N.G. (2011). Principles of Economics, 6th edition. South-western College Publishing.
  • Economic Decision Making Using Cost Data: A Manager’s Guide, by Daniel Marburger and Ryan Peterson, Harvard Business School Press
  • Market Failure, Market Distortions and Market Solutions, Harvard Business School Publishing, by Kenneth S. Corts
  • Salvatore, D. (2016). Managerial Economics in a Global Economy (7th edition). Oxford University Press: USA.
  • Peterson, C.H., Lewis, W.C., Jain, S. K. (2008). Managerial Economics (5th edition). Pearson Education.
  • Besanko, D., Dranove, D., Shanley, M., Schaefer, S. (2013). Economics of Strategy (6th edition). Wiley.
  • Thomas, C.R., Maurice, S.C. (2017). Managerial Economics: Foundations of Business Analysis and Strategy (10th edition). McGraw Hill Education.