Managerial Economics: Meaning, Nature, Scope. & Significance, Uses of ManagerialEconomics, Objectives and alternative hypothesis of the firm – Theories of firm-Baumol’sModel and Agency theory- Law of Demand, Exceptions to the Law of Demand, Elasticity ofDemand- Price, Income, Cross and Advertising Elasticities, Uses of Elasticity of Demand forDecision Making, - Demand Forecasting: Meaning and Significance. Problems on Elasticity ofDemand.
Concept, Production Function- Total, Average, & Marginal Product, –Law of Variable Proportions & ISO-Quants & ISO Costs - Least cost factor combination-Returns to Scale- Economies and Diseconomies of Scale - Technological progress andproduction function
Cost and Revenue Profit Functions: Cost Concepts, Fixed and variable costs- Total Cost,Average Cost, Marginal Cost, Opportunity Cost. - Short-run and Long-run Cost CurvesProfits: Determinants of Short-Term & Long Term Profits, Measurement of Profit.Break Even Analysis- Meaning, Assumptions, Determination of BEA, Limitations and Uses ofBEA in Managerial Economics. (Problems on BEP)
Perfect Competition: Features, Determination of Price under PerfectCompetition - Monopoly: Features, Pricing under Monopoly, Price Discrimination - Oligopoly:Features, Kinked Demand Curve, Cartel, Price Leadership - Monopolistic Competition: Features,Pricing under Monopolistic Competition, Product DifferentiationPricing - Descriptive Pricing- Price Skimming, Price Penetration.
Indian Economic Environment: Overview of Indian Economy, Recent changes in IndianEconomy.Measurement of National Income: Basic Concepts, Components of GDP- Measuring GDP andGNP, Difficulties in measuring National Income, Growth Rate.Business Cycle – Features, Phases, Economic Indicators, Inflation : Types, causes,Measurement , Kinds of Price Indices,Primary, Secondary and Tertiary Sectors and their contribution to the Economy, SWOT Analysisof Indian Economy.
Industrial Policies and Structure: A critical look at Industrial Policies of India, New IndustrialPolicy 1991; Disinvestment in PSUs - Private Sector- Growth, Problems and Prospects, SMEs –Significance in Indian economy-problems and prospectsA brief Industry Analysis: Textiles, Electronics, Automobile, FMCG, Telecom, Pharma. FDIin Retailing, Infrastructure, Pharma, Banking & InsuranceGlobalization and Indian Business Environment: Meaning and Implications, Phases, Impactof Globalization on Indian Economy across Sectors.Foreign Trade: Trends in India’s Foreign Trade, Impact of WTO on India’s Foreign Trade.
Economic Policies: Fiscal Policy: Objectives, Instruments, Union Budget,Monetary Policy: Measures of Money Supply, Monetary Policy in India– objectives, tools forCredit Control. Role and functions of Comptroller and Auditor General of India (CAG)