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Management  Managerial Economics
Title: Managerial Economics
Department: Management
Author: Dr. Trupti Mishra
University: IIT Bombay
Type: WebLink
Abstract: Module 1:
The Fundamentals of Managerial Economics

Goals and Constraints
The Nature and Importance of Profits
Understanding Incentives
Economic rationality, Scarcity and opportunity cost
Marginal and Incremental Analysis
Basic Calculus: The Calculus of Optimization.
Module 2:
Theory of Demand

Demand and Supply
Market Equilibrium
Price Ceilings and Price Floors
Comparative Statics: Changes in Demand and Supply.
Price Elasticity of Demand
Price Elasticity, Total Revenue, and Marginal Revenue
Factors Affecting Price Elasticity
Cross Price Elasticity.
Income Elasticity of Demand
Other Elasticities ,Elasticities for Nonlinear Demand Functions.
Elasticity of Supply
Demand Forecasting
Choice and Utility Theory
Law of Diminishing marginal utility
Consumer Equilibrium
Indifference curve Analysis
Consumer Surplus
Price effect, Substitution Effect and Income Effect
Module 3:
Theory of Production and Cost

The Production Function
Profit'Maximizing Input Usage.
Isoquants and Isocosts
Cost Minimization and Optimal Input Substitution.
The Cost Function
Breakeven analysis, Contribution analysis
Long'run Costs and Economies of Scale
Multiple Cost Functions and Economies of Scope.
Learning curve
Module 4:
Theory of Market and pricing

The Nature of Industry
Perfect Competition
Monopolistic Competition
Game theory
Product pricing
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