| 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@aud.ac.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:
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:
ADDITIONAL REFERENCE:
