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Course Outline Economics-PGCSMM

This economics course outline focuses on applying economic theory to managerial decision making. The course objectives are to develop students' understanding of microeconomic theory and how it can be used in business, teach economic thinking and analytical skills, and cover basic economic concepts. The course will cover topics like demand, production, costs, market structures, and trade through readings from the textbook Principles of Microeconomics and lectures. Students will be evaluated based on a midterm quiz, final exam, and individual project, with final grades on a scale from F to A+.

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23 views3 pages

Course Outline Economics-PGCSMM

This economics course outline focuses on applying economic theory to managerial decision making. The course objectives are to develop students' understanding of microeconomic theory and how it can be used in business, teach economic thinking and analytical skills, and cover basic economic concepts. The course will cover topics like demand, production, costs, market structures, and trade through readings from the textbook Principles of Microeconomics and lectures. Students will be evaluated based on a midterm quiz, final exam, and individual project, with final grades on a scale from F to A+.

Uploaded by

Anonymous tMo5aY
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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PGCSMM - 4: Term 1

Economics
Course Outline

INTRODUCTION

This course concentrates on the way that economics may be utilized


to enhance decision making with in managers organization. The
students will develop an understanding of the economic environment
in which the firm operates and how to think strategically with in it.

OBJECTIVES

1. To enable the student learn intuitively microeconomic theory


and its application in managerial decision making.

2. To develop economic way of thinking and skills and provide


students with logical way of decision making

3. To familiarize students basic economic theory and its


applications

Prescribed Text Book

Principles of Microeconomics 4th edition by N.G. Mankiw

Sessi Introduction / Topic 1 Readings


on
1 Nature of Economic Problem and
Managerial Economics ; Thinking Chapter 2
like An Economist

2 Ten Principles of Economics Chapter 1


3-4 Demand and Consumer theory,
Law of Demand, Demand Function, Chapters 4 & 5
Elastic ties of demand,
Substitution and income effect of
price change, Price elasticity and
total expenditure

5-6 Theory of production, Production Chapter 13


function,
Theory of short and long run
costs , cost functions and their
relationship, Profit Maximization
level of output.
7-8 Market Structure, Price
Determination in Perfectly
Competitive Market; Shutdown
points, Monopoly, Oligopoly Chapters
market and Strategic Behavior. 14,15,16,17

9-10 Consumer and Producers surplus,


Comparative Advantages Chapters 3 & 9

EVALUATION:

The course can be graded on the following components:

Mid Term Quiz: 30%


End Term : 40%
Individual Project / 30%
Assignment :

The midterm examination may include multiple choice questions from


the readings and lectures from session one to five and the end-term
exam will cover the entire course.

FINAL GRADING: The Final Grading cut-off marks will be as follows:

0 – 34.5 = F ; 35 – 42.5 = D; 43 – 50.5 = D+; 51 –


58.5 = C;
59 – 66.5 = C+; 67 – 74.5 = B; 75 – 82.5 = B+; 83 – 90.5 =
A;
91 – 100 = A+

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