Managerial Economics

Teacher

Dr. Anjali Dash

Category

Core Courses

Course Attendees

Still no participant

Course Reviews

Still no reviews

Course Name : Managerial Economics

Code(Credit) : CUTM1212(4-0-2)

Course Objectives

  • To apply micro economic concepts and techniques in evaluating business decisions taken by firms
  • How tools of standard price theory can be employed to formulate a decision problem, evaluate alternative courses of action and finally choose among alternatives
  • Acquire conceptual and theoretical knowledge of microeconomics in management perspective;
  • Understand and appreciate the tools of microeconomics and their applications;
  • Develop the ability to evolve business/management strategy using economic reasoning;
  • Appreciate the new challenges to business management in the internet age
  • Appreciate the linkages between economics and the functional areas of business

Course Outcomes

COS COURSE OUTCOMES MAPPING COS WITH POS (High-3; Medium-2; Low-1)
CO1 Acquire the conceptual and theoretical knowledge of microeconomics which is relevant for evaluating economic behavior of an individual economic agent. PO1(3)
CO2 Demonstrate the use of microeconomic concepts like utility satisfying and maximizing traits of consumers, elasticity and opportunity cost in strategic planning; develop an economic perspective of business problems being a leader in future in digital economy PO2(3) PO5(2) PO9(3)
CO3 Evaluate and compare the various types of market structures and use them when planning price policy of a firm and industry and communicate ideas with the policy maker PO3(3) PO4(1)
CO4 Understand and appreciate the production dynamics – including cost, revenue and profit considerations and according frame policy to remove disequilibrium in market structure PO6(3) PO7(2)
CO5 Learn the optimization functions for both consumer and producer equilibrium;  help to the students how to sustainable resources and utilised economic theory on their day to day life PO8(3) PO10(3)

Course Syllabus

Module I: Economics: Central problem of an economy. Theory of consumer behaviour: cardinal utility theory, ordinal utility theory(indifference curves, budget line, consumer choice, price effect, substitution effect, income effect for normal, inferior and giffen goods). Demand, Supply and Market equilibrium: individual demand, market demand, individual supply, market supply, market equilibrium; Elasticity of demand and supply.

 

Module II:Producer and optimal production choice: optimizing behaviour in short run (geometry of product curves, law of diminishing marginal productivity, three stages of production), optimizing behaviour in long run (isoquants, isocost line, optimal combination of resources) Costs and scale: traditional theory of cost (short run and long run, geometry of cost curves, envelope curves), modern theory of cost (short run and long run), economies of scale.

 

Module III: Theory of firm and market organization: perfect competition (basic features, short run equilibrium of firm/industry, long run equilibrium of firm/industry, effect of changes in demand, cost and imposition of taxes) ; monopoly (basic features, short run equilibrium, long run equilibrium, effect of changes in demand, cost and imposition of taxes, comparison with perfect competition, welfare cost of monopoly), price discrimination; monopolistic competition (basic features, demand and cost, short run equilibrium, long run equilibrium, excess capacity)

 

Module IV: Factor market: demand for a factor by a firm under marginal productivity theory (perfect competition in the product market, monopoly in the product market), market demand for a factor, supply of labour, market supply of labour, factor market equilibrium.

 

Readings:

  1. Dominick Salvatore (2009). Principles of Microeconomics (5th ed.) Oxford

University Press

  1. Lipsey and Chrystal. (2008). Economics. ( 11th ed.) Oxford University Press
  2. Koutosyannis (1979). Modern Micro Economics. Palgrave Macmillan
  3. Pindyck, Rubinfeld and Mehta. (2009). Micro Economics. (7th ed. ). Pearson

Session 3

Demand: Individual and Market Demand

Law of Demand

https://www.youtube.com/watch?v=QvGLcCTXk9o

Demand

Session 6

Session 7

Cardinal utility theory- Law of diminishing marginal utility

https://www.youtube.com/watch?v=YhqqWKw_OGs

https://www.youtube.com/watch?v=wFrGhooQheU

Utility

Session 8

Cardinal utility theory- Law of equi-marginal utility

https://www.youtube.com/watch?v=LOjyVoGTGj8

Allocating Income to Maximize Utilty

Session 9

Session 11

Budget Constraints Budget line

Session 12

Consumer's equilibrium through Indifference Curve

Session 13

Project 1 - Impact of Covid 19 on Street Vendors

Session 14

Introduction to Production- Optimal production choice

Session 15

Law of Diminishing Marginal Productivity/Law of Variable Proportion

https://www.youtube.com/watch?v=lt6LpwBNSlM

Session 16

Project 1- Discussion and Review

Session 17

Project 1- Discussion and Review

Session 18

Project 1

Session 19

Project 1

Session 20

Laws of Returns to Scale/ Production function in the long run

Session 21

Introduction to Costs Diminishing-Returns-and-U-Shaped-Cost-Curves

Traditional Theory of Costs

Session 22

Short-run Cost Functions

Session 23

Economies of Scale

https://www.youtube.com/watch?v=6ihehRMtRWc

https://www.youtube.com/watch?v=rYvzM_tayY4

Session 24

Presentation on Project 1

Session 25

Presentation on Project 1

Session 26

Presentation on Project 1

Session 27

Theory of Firm and Market- Market structure

https://www.youtube.com/watch?v=QJnP8jzBjvk

https://www.youtube.com/watch?v=z7g6rFjvvkU

Session 28

I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Session 2

I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Session 2

I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Session 2

I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Session 2

I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Session 2

I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Session 2

I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Session 2

I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Session 2

I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Session 2

I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Session 2

I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Session 2

I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Session 2

I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Session 2

I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Session 2

I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Session 2

I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Session 2

I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Session 2

I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Session 2

I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Session 2

I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Session 2

I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Session 2

I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Session 2

I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Session 2

I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Session 2

I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Session 2

I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Case Studies

Case Studies

Our Main Teachers

Dr. Anjali Dash

Assistant Professor
VIEW PROFILE

Dr. Anjali Dash is working as an Assistant Professor (Economics) at School of Management, Centurian University of Technology and Management, Bhubaneswar since August 2022. She was a Post-doctoral fellow at International Institute for Population Sciences (IIPS), Mumbai, 2017-2019. She hold Ph.D. degree in Economics from M.P. Institute of Social Science Research, Ujjain, M.P. and Mphil degree in Economics from Sambalpur University. Her interest is on teaching are: Health economics, Economietrics, Microeconomics, Mathematical economics, and Computer application for economic analysis, Statistics. Her research interest is on health economics, poverty, rural and tribal development, urban issues, education, ageing, migration, and employment. She is interested more in interdisciplinary research. She has more than 8 years of post PhD worked experience in research and teaching from various national organization such as Central University of Odisha, Koraput, Centre for Social Studies, Surat, Institute of Economic Growth (IEG), New Delhi, Samarthan Bhopal, Tata Institute of Social Sciences (TISS), Mumbai and Sambalpur University. She has proficient in analytical skill in large data like NSSO, NFHS and SAGE.

Dr. Bibhunandini Das is working as Associate Professor in Economics in the school of management, Centurion University of Technology and Management, Odisha. Dr Bibhunandini Das has obtained her PhD from the Centre for Development Studies, Jawaharlal Nehru University, New Delhi in 2015. Prior to joining CUTM, she has worked with Indian Institute of Public Health, […]