Economics For Managers - Dr. Kalika Bansal
Economics For Managers - Dr. Kalika Bansal
Economics For Managers - Dr. Kalika Bansal
Course Code
Credit Value 3
Programme MBA (DSA) - Trimester 1
& Trimester
Pre-requisite None
CLOs – (in bracket state the PLOs to map with)
Course An essential pre-requisite for any business enterprise be it large, small, profit-
Description making or non-profit-making is to understand the dynamics of the market and
hence to make the best of the opportunities given the various constraints. To take a
decision on what to produce, how to produce, at what cost to produce, how much
quantity to be produced etc. the manager of the enterprise needs to have a clear
understanding of the market. Business Economics is concerned with the application
of economic principles and methodologies to such business decision problems.
However, business enterprises and managers, in the course of their decision making
exercise more than often need to have an idea about the aggregate demand, interest
rates, price-levels & exchange rates situations etc. that are prevailing in the
economy. None of these variables are under the control of the enterprises or the
managers but any change in them has significant impact on the activity plans of the
enterprises. Macroeconomics is that branch of economics that deals with such
variables and their interrelationships and thus explains the way an economy
functions.
This course on Economics for Managers aims at providing the participants with an
1|Page
increased understanding of business decision making against the backdrop of
macroeconomic scenario of an economy. It will enable them to learn a variety of
techniques that will help them to solve various business problems relating to costs,
prices, revenues, profits, and competitive strategies as also enable them to have a
basic understanding of macroeconomics.
2|Page
Sessions Topics Chapter /article reference Cases / remarks
Pre-reads/ Articles/
Chapters
market: Ceiling and Floor prices 37-39)
Introduction to Oligopoly
3|Page
Sessions Topics Chapter /article reference Cases / remarks
Pre-reads/ Articles/
Chapters
Business cycle and
macroeconomic objectives, The
circular flow of income.
4|Page
Sessions Topics Chapter /article reference Cases / remarks
Pre-reads/ Articles/
Chapters
Course synthesis
Reading List Prescribed Text book: McConnell, Brue and Flynn, Economics, 19e edition, Mc Graw Hill
and Publication
References
References
1. Pindyck Robert, Daniel Rubinfeld, Prem Mehta, Microeconomics, 7th edition, Pearson
3. John Sloman and Mark Sutcliffe, Economics for Business, Third Edition, Pearson.
5|Page