Managerial Economics
Subject Overview
Managerial Economics applies core economic principles to real business decision-making — demand analysis, cost behavior, and market structures, all viewed through the lens of how a manager actually uses this. You'll cover demand elasticity and forecasting, indifference curve analysis and consumer equilibrium, the theory of cost (short-run vs. long-run), and the four classic market structures: perfect competition, monopoly, monopolistic competition, and oligopoly. The pricing practices unit at the end connects theory directly to real commodity pricing decisions. This 6-credit General Elective paper is genuinely useful beyond the exam — it's the economic reasoning that shows up later in Indian Economy and Business Environment.
Unit-wise Syllabus
4 units — click WhatsApp below to get the full notes for each
Unit 1: Demand analysis & managerial decision-making
Opportunity cost, production possibility curve, demand function, demand elasticity, demand forecasting
Unit 2: Indifference curves & production function
Consumer equilibrium, indifference analysis, short and long run production function, isoquants, returns to scale
Unit 3: Theory of cost & revenue curves
Cost concepts, short and long run cost theory, total/average/marginal revenue, elasticity of demand and revenue
Unit 4: Market structures & pricing practices
Perfect competition, monopoly, monopolistic competition, oligopoly, supply curve, commodity pricing practices