Introduction: definition, meaning, subject matter and scope of business economics; Demand analysis and forecasting: meaning, type of demand, determinants of demand; law of demand, demand function, elasticity of demand; Demand forecasting: meaning and purpose, methods of forecasting; Production and cost analysis: production function, production analysis, short-run and long-run; Concepts of costs, determination of cost, economies of scale; Pricing: determinants of price, market structure, pricing under different market structures, perfect competition, monopoly and monopolistic competition, pricing methods in practice; Capital budgeting: meaning, evaluation of investment decisions, methods, structure of investment decisions and data needs.
Texts:
1. V. G. Mankar, Business Economics, Macmillan, 1999.
2. G. S. Gupta, Managerial Economics, Tata McGraw Hill Company Limited, 1998.
References:
1. J. Dean, Managerial Economics, Prentice Hall of India Private Limited, 1951.
2. V. L Mote, S. Paul and G. S. Gupta, Managerial Economics: Tata McGraw Hill, 1998.
