It is increasingly being recognized that teaching economics helps business students better appreciate and envisage the economic forces that shape decisions in the real business world besides developing and strengthening the overall analytical talent of the students. Business schools, both at undergraduate and postgraduate levels, worldwide and in India now ensure that students undertake suitable courses in economics. The purpose of teaching Managerial Economics is to equip business students with the ability to deliberate logically and critically the challenging process of framing business strategies later on in their careers. This book caters to these needs in the Indian context in a detailed manner.
1. An Introduction to Managerial Economics: Nature and Scope
2. Objectives of a Business Firm, Decision Rules and the Process of Optimization
3. Demand, Elasticity of Demand and Elasticity of Supply
4. Demand Forecasting
5. Cardinal Utility Approach
6. Ordinal Utility Approach: Indifference Curve Theory and Its Applications
7. Revealed Preference Theory
8. Production Function
9. Cost Function
10. Perfect Competition
11. Monopoly and Monopolistic Competition
12. Oligopoly
13. Capital Budgeting and the Decision to Invest
14. Wages
15. National Income
16. The Classical Model of Income Determination
17. The Keynesian Model of Income Determination in a Two Sector Economy, Shifts in the Aggregate Demand and the Multiplier
18. The Keynesian Model of Income Determination in a Three Sector Economy and Four Sector Economy
19. The IS-LM Model for a Two Sector Economy
20. Theories of Investment Spending
21. Economic Growth, Business Cycles and Stabilization policy
22. The Theory of International Trade, Trade Policy and Foreign Exchange
23. Balance of Payments and the International Monetary System