Managerial Economics – Meaning and Definition – Nature and Scope – Economic
Theory – Divisions – Goals of a firm.
Demand Analysis – Meaning, Determinants of Demand – Law of Demand, Elasticity of
Demand – Price, Income and Cross Demand – Demand Estimation and Demand
Forecasting – Demand Distinctions.
Production Function – Meaning and Definition – Elasticity of Substitution and
Production – Type of cost of Production – Long run and Short run cost.
Markets – Forms of Market – Characteristics - Pricing Methods – Objects of pricing
policies – Practices – Government intervention in Market.
Price Theory – Perfect Competition, Monopoly, Monopolistic competition, Monopsony,
Duopoly, Duopsony and Oligopoly.