Managerial Economics detailed syllabus for Commercial Practice (CP) for 2021 revision curriculum has been taken from the SITTTRs official website and presented for the Commercial Practice students. For course code, course name, number of credits for a course and other scheme related information, do visit full semester subjects post given below.
For Commercial Practice 1st Sem scheme and its subjects, do visit Commercial Practice (CP) 1st Sem 2021 revision scheme. The detailed syllabus of managerial economics is as follows.
Course Objectives:
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Course Outcomes:
On completion of the course, the student will be able to:
- Apply fundamental knowledge of managerial economics.
- Identify the concepts of demand and supply and compare law of demand and law of supply.
- Interpret production theory and cost theory.
- Identify pricing under different market forms.
Module 1:
Introduction to Managerial Economics: Explain the Meaning and definitions of economics – Meaning and Definition of Managerial Economics – Nature, Scope and importance of Managerial Economics – Role of Managerial Economist in Business decision making – Meaning of human wants, Characteristics of wants and Types of wants – Meaning of goods and classifications of goods – Meaning of wealth and welfare – Meaning of value and price – Meaning of Standard of living – Concept of utility – Kinds of utility – Law of Diminishing Marginal Utility – Limitations and exceptions of the law of Diminishing Marginal Utility.
Module 2:
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Module 3:
Introduction to production theory and cost theory: Production Theory: Production – Factors of production – production functions – Law of variable proportion and Law of returns to scale. Cost Theory: Types of Cost – Cost Function – Cost curves – Fixed cost curve – Variable cost Curve – Total cost curve – Average Fixed cost Curve – Average Variable Curve -Average Cost Curve – Marginal Cost Curve – Economies of scale – Diseconomies of scale.
Module 4:
Forms of market and pricing policy: Concepts of Total Revenue, Average Revenue & Marginal Revenue – Various Forms of Market and its features – Perfect Competition, Monopoly, Monopolistic Competition, Oligopoly, Duopoly – Pricing under Perfect Competition, Monopolistic Competition and Monopoly- Concept of various methods /strategies of pricing.
Text Books:
For the complete syllabus, results, class timetable, and many other features kindly download the iStudy App
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Reference Books:
- Gupta G.S. Managerial Economics. Tata McGraw-Hill Publishing Co. Ltd. New Delhi.
- Dwivedi N.D. Managerial Economics. Vikas Publishing House, New Delhi.
- Reddy P.N and Appanniah. H.R. Principles of Business Economics. S. Chand & Co. Ltd. New Delhi.
Online Resources
For the complete syllabus, results, class timetable, and many other features kindly download the iStudy App
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For detailed syllabus of all other subjects of Commercial Practice (CP), 2021 revision curriculum do visit Commercial Practice 1st Sem subject syllabuses for 2021 revision.
To see the syllabus of all other branches of diploma 2021 revision curriculum do visit SITTTR diploma all branches syllabus..
To see the results of Commercial Practice (CP) of diploma 2021 revision curriculum do visit SITTTR diploma Commercial Practice (CP) results..
For all Commercial Practice academic calendars, visit Commercial Practice all semesters academic calendar direct link.