MANAGERIAL ECONOMICS


Unit 1

Introduction of Engineering Economics and Demand Analysis: Meaning and nature of Economics, Relation between science, engineering, technology and economics; Meaning of Demand, Determinants of Demand, Shifts in demand, Law of Demand, Price Elasticity of Demand &Types, Income Elasticity, Cross price Elasticity, Determinants of Elasticity, uses and importance of elasticity.


Unit 2

Concept of Supply: Law of Supply, Factors affecting Supply, Elasticity of supply.
Demand Forecasting: Introduction, Meaning and Forecasting, Methods or Techniques of Demand Forecasting, Criteria for Good Demand Forecasting, Demand Forecasting for a New Product;


Unit 3

Cost Analysis- Introduction, Types of Costs, Cost-Output Relationship: Cost Function, Cost-Output Relationships in the Short Run, and Cost-Output Relationships in the Long Run; Short run and long run, Break- Even Analysis; Production functions: laws of variable proportions, law of returns; Economies of scale: Internal and external.


Unit 4

Market Structure: Market Structure Perfect Competition, Imperfect competition – Monopolistic, Oligopoly, duopoly sorbent features of price determination and various market conditions


Unit 5

Nature and characteristics of Indian economy, concepts of LPG, elementary concepts of National Income, Inflation and Business Cycles ,Concept of N.I. and Measurement., Meaning of Inflation, Types and causes , Phases of business cycle .Investment decisions for boosting economy(National income and per capital income)