CERTIFICATE IN MANAGERIAL ECONOMICS

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CERTIFICATE IN MANAGERIAL ECONOMICS -(C1114)

CERTIFICATE IN MANAGERIAL ECONOMICS


MANAGERIAL ECONOMICS

 

Course Syllabus

1.0 INTRODUCTION

  • What is managerial economics?
  • Study managerial decisions as they relate to profit maximisation
  • Fundamental Principles of effective management

2.0 THEORY OF INDIVIDUAL BEHAVIOUR

  • Consumer Behaviour
  • Indifference Curve Analysis
  • Consumer Preference Ordering
  • Constraints
  • The Budget Constraints
  • Changes in income
  • Changes in prices
  • Consumer Equilibrium
  • Indifference Curve Analysis and Demand Curves

3.0 DEMAND AND SUPPLY

  • The Market Demand Curve
  • The Demand Function
  • Determinants of Demand
  • Consumer Surplus
  • The Market Supply Curve
  • The Supply Function
  • Producer Surplus
  • Market Equilibrium

4.0 ELASTICITY

  • The Elasticity Concept
  • Own Price Elasticity
  • Elasticity and Total Revenue
  • Cross Price Elasticity
  • Income Elasticity
  • Demand Functions
  • Linear
  • Log-Linear

5.0 PRODUCTION AND COST

  • Production Analysis
  • Total Product, Marginal Product, Average Product
  • Isoquants
  • Isocosts
  • Cost Minimization
  • Cost Analysis
  • Total cost, Variable Cost, Fixed costs
  • Cubic Cost Function
  • Cost Relations

6.0 MARKET STRUCTURE

  • Perfect Competition
  • Characteristics and profit outlook
  • Effect of new entrants
  • Monopolies
  • Sources of monopoly power
  • Maximizing monopoly profits
  • Pros and cons
  • Monopolistic Competition
  • Profit Maximisation
  • Long run equilibrium
  • Basic Oligopoly Models
  • Conditions for Oligopoly
  • Role of strategic interdependence
  • Profit Maximization in the Three Oligopoly Settings
  • Cournot Model
  • Stackelberg Model
  • Bertrand Model

7.0 REGRESSION ANALYSIS

  • Economic Relationships (theory)
  • Deterministic Relations
  • Statistical Relations and Regression Analysis
  • Forecasting
  • Forecasting Time Horizons
  • Steps in Forecasting
  • Forecasting Approaches
  • Qualitative
  • Delphi Method
  • Consumer Market Survey
  • Quantitative
  • Time series Models
  • Naïve approach
  • Moving averages
  • OLS

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