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Lovely Professional University,Punjab

Format For Instruction Plan [for Courses with Lectures and Tutorials

Course No

Cours Title

Course Planner

Lectures

Tutorial

Practical

Credits

ECO515

MANAGERIAL ECONOMICS

13612 :: Chander Shekhar Dogra

4

1

0

5

Course Category

NA

         

Text Book:

1

Christopher R Thomas, Sumit Sarkar, S Charles Maurice, Managerial Economics, Ninth Edition, Tata McGraw Hill, New Delhi, 2010

Other Specific Book:

2

• Geetika, Ghosh Piyali, Purba Roy Choudhury, Managerial economics, Tata McGraw Hill, New Delhi, 2011

 

3

• Hirshey, Mark, Managerial Economics: An integrative approach, Cengage Learning, 2011

 

4

• H.L. Ahuja, Advanced Economic Theory, 17th Edition, Sultan Chand and Sons, New Delhi, 2011

 

5

Andrew Abel, Ben Bernanke, Macroeconomics, 4th Edition, Pearson Education,2006

 

6

Shapiro, Edward, Macro Economics, Galgotia Publications, 2006

7

Truett and Truett, Managerial Economics, Wiley India, New Delhi, 2009

Other Reading

Sr No

Jouranls atricles as compulsary readings (specific articles, Complete reference)

8

Jain, Monika ," Paradox of Plenty, with Special Reference to Inelastic demand for Apples", May 2011, VOL IX, No. 2, The IUP Journal of Managerial Economics, pp 44-55

9

Rajakumar, J.Dennis, "Size and growth of private corporate Sector in Indian Manufacturing", April 30-May 6, 2011, VOL XLVI, No. 18, Economic and Political Weekly, pp-95-101

10

Wall Street Is No longer Immune by Paul Krugman,New York Times

11

Poverty Alleviation in Rural India-Strategies and Programs-Planning Comission Document

12

Eleventh Five Year Plan, 2007-12

13

Strength of preference and cardinal utility by Veronika K¨obberling,Economic Theory 27, 375–391 (2006),University of Maastricht

14

Updating Managerial Economics by Thoams P. Egan,Business Economics; Jul 1995

15

On Ordianl Utility, Cardinal Utility ad Random Utility by Richard Batley,Theory and Decision (2008) 64:37–63

Relevant Websites

Sr. No.

(Web adress) (only if relevant to the courses)

Salient Features

16

www.economics-ejournal.org

Excellent policy papers in economics

17

http://www.worldbank.org

Global rends in current development

18

www.berkeleymath.com/BerkeleyJournal.aspx

Excellent papers from Kellogg School of Management

19

http://mitworld.mit.edu

Excellent undergraduate courseware from MIT.

20

http://www.economywatch.com/indianeconomy/

An insight into current trends in the Indian economy

21

http://www.egwald.ca/economics/productionfunctions.php

provides detail regarding the use of cob Douglas production function

22

http://economics.fundamentalfinance.com/micro_atc_mc.php

It explains the concepts of cost and cost analysis

23

http://library.thinkquest.org/C004323/low/micro2.html

Excellent explanation of different market forms

24

http://www.jaytownley.com/the-bicycle-industry-competition

Excellent case study on perfect competition

25

http://www.amosweb.com/cgi-bin/awb_nav.pl?

Information about short run production analysis

s=wpd&c=dsp&k=short-run+production+analysis

Detailed Plan For Lectures

Week Number

Lecture Number

Lecture Topic

Chapters/Sections of Textbook/other reference

Pedagogical tool Demonstration/case study/images/anmatio n ctc. planned

 

Part 1

Week 1

Lecture 1

Introduction to Managerial Economics : Basic Concepts and Techniques

->Reference :1,1

 

->Reference :2,1

 

->Reference :3,1

Lecture 2

Scope of Managerial Economics and role of business in society

->Reference :1,1

 

->Reference :2,1

 

->Reference :3,1

Week 1

Lecture 3

Market demand : direct and derived demand, determinants of demand

->Reference :1,2

Effects of changes in determinants of demand, Managerial Economics by Thomas and Maurice,9th

Edition,p.43

->Reference :2,3

 

->Reference :3,3

Lecture 4

Law of demand , shifts in demand curve

->Reference :1,2

Dabur India Limited:

->Reference :2,3

Growing Big and Global, Managerial Economics by Geetika Ghosh,2nd

edition,p.64

->Reference :3,3

Week 2

Lecture 5

Law of supply and market equilibrium

->Reference :1,2

The Demand for Housing in United

->Reference :2,3

->Reference :3,3

States,

Microeconomics,7th

Edition,Pindyck,Rubinfie

ld,Mehta p.121

Lecture 6

Consumer Surplus

->Reference :1,2

 

->Reference :2,4

->Reference :3,3

Lecture 7

Price Elasticity; Measurement of point and arc elasticity

->Reference :1,6

Price Elasticites of Demand in the Real World, Managerial Economics by Dominick

Salvatore, 6th Edition,,

->Reference :2,5

 

->Reference :3,4

p

91

Lecture 8

Price Elasticity; Total Outlay method, Degrees of Elasticity

->Reference :1,6

 

->Reference :2,5

 

->Reference :3,4

Week 3

Lecture 9

Income Elasticity of Demand,Cross Price Elasticity of Demand

->Reference :1,6

Income Elasticities of Demand in the Real World, Managerial Economics by Dominick

Salvatore, 6th Edition,,

->Reference :2,5

 

p

94

Lecture 10

Consumer Behavior: Cardinal utility ,Law of diminishing Marginal Utility

->Reference :2,4

Estimation of demand for oranges by market experiment, Managerial Economics by Dominick

Salvatore, 6th Edition,,

->Reference :3,4

 

p

128

Lecture 11

Consumer Behavior: Cardinal utility ,Law of diminishing Marginal Utility

->Reference :2,4

 

->Reference :3,4

Week 3

Lecture 12

Ordinal Utility Analysis: Indifference Curves, Properties and basic concepts

->Reference :1,5

To Fly Fast or Far:Tradeoffs in the Market, Managerial Economics by Thomas and Maurice,9th

Edition,p.161

->Reference :2,4

 

->Reference :3,4

Week 4

Lecture 13

Budget line : Concepts, shifts in budget line

->Reference :1,5

 

->Reference :2,4

->Reference :3,4

 

Part 2

Week 4

Lecture 14

Determination of Consumer Equilibrium

->Reference :1,5

 

->Reference :2,4

->Reference :3,4

Lecture 15

Income Effect and Substitution Effect

->Reference :1,5

 

->Reference :3,4

Lecture 16

Production and Cost in the short run: Basic concepts in production function

->Reference :1,8

Employing More and better capital boosts productivity in US petroleum and chemical industries, Managerial Economics by Thomas and Maurice,9th

Edition,p.284

Week 5

Lecture 17

TP,AP and MP curves, Law of Diminishing Marginal Product

->Reference :1,8

Implicit Costs and Household decision making, Managerial Economics by Thomas and Maurice,9th

Edition,p.286

Lecture 18

Short Run Cost: Fixed and Variable cost

->Reference :1,8

 

->Reference :2,8

->Reference :3,8

Lecture 19

Average and Marginal Costs, Relationship among cost curves

->Reference :1,8

 

->Reference :2,8

 

->Reference :3,8

Lecture 20

Relationship between AVC, SMC, AP and MP.

->Reference :1,8

 

Week 6

Lecture 21

Production and Cost in the Long Run; Production Isoquants

->Reference :1,9

 

->Reference :2,7

 

->Reference :3,7

Week 6

Lecture 22

Production and Cost in the Long Run; Production Isoquants Isocost curves, shifts in Isocost Curves,Producersâ€à¢Ã¢â‚¬Å¾Ã‚¢equilibrium

->Reference :1,9

Downsizing or Dumbsizing, Managerial Economics by Thomas and Maurice,9th

Edition,p.317

->Reference :2,7

Lecture 23

Expansion Path, Returns to scale

->Reference :1,9

 

->Reference :2,8

->Reference :3,8

Lecture 24

Long Run Costs;LAC curve and shapes, economies and diseconomies of scale

->Reference :1,9

Managing Economies and Diseconomies of scale, Managerial Economics by Thomas and Maurice,9th

Edition,p.327

->Reference :2,8

 

->Reference :3,8

Week 7

Lecture 25

Relationship between SAC and LAC, economies of scope

->Reference :1,9

Economies of scale and scope in banking, Managerial Economics by Thomas and

Maurice,9th

->Reference :2,8

 

->Reference :3,8

Edition,p.331

Lecture 26

Revenue Curves and their relationships

->Reference :1,6

 

->Reference :2,8

Lecture 27

Relationship between MR and Price Elasticity

->Reference :1,6

 

->Reference :2,8

Lecture 28

Revision

   
   

MID-TERM

 

Part 3

Week 8

Lecture 29

Perfect Competition: characteristics

->Reference :1,11

 

->Reference :2,9

->Reference :3,10

Lecture 30

Price and output determination in short run: Profit maximization

->Reference :1,11

 

->Reference :2,9

 

->Reference :3,10

Lecture 31

Loss minimization, shut down decision, short run supply curve

->Reference :1,11

 

->Reference :2,9

Lecture 32

Long Run Equilibrium

->Reference :1,11

 

->Reference :2,9

Week 9

Lecture 33

Monopoly; market power, determinants for market power

->Reference :1,11

Price ceiling-The cases of India post and Indian railways, Managerial Economics by Thomas and Maurice,9th

Edition,p.442

->Reference :2,10

 

->Reference :3,12

Lecture 34

Short run equilibrium; Profit maximization, loss minimization, shut down decision

->Reference :1,12

 

->Reference :2,10

 

->Reference :3,12

Lecture 35

Long Run Equilibrium

->Reference :1,12

Is Microsoft a Monopoly? Managerial Economics by Thomas and Maurice,9th

Edition,p.428

->Reference :2,10

->Reference :3,12

Lecture 36

Price Discrimination: Degrees of price discrimination

->Reference :1,14

 

->Reference :2,10

->Reference :4,33

Week 10

Lecture 37

Dumping

->Reference :4,33

 

Lecture 38

Monopolistic Competition;Features and short run equilibrium

->Reference :1,12

 

->Reference :2,11

 

->Reference :3,13

Lecture 39

Long run equilibrium

->Reference :1,12

 

->Reference :2,11

->Reference :3,13

 

Part 4

Week 10

Lecture 40

Oligopoly: Features and prisonerââà ¢â‚¬Å¡Ã‚¬Ã¢â€žÂ¢s dilemma (introductory)

->Reference :1,13

How can game theory be used in business decision making, Managerial Economics by Thomas and

Maurice,9th

->Reference :2,12

 

Edition,p.478

Week 11

Lecture 41

Kinked demand curve

->Reference :2,12

 

->Reference :4,40

Lecture 42

Collusions and cartel(introductory)

->Reference :4,40

 

Lecture 43

National Income;Basic concepts

->Reference :2,18

 

->Reference :5,2

Lecture 44

Methods of Measuring National Income; Product method

->Reference :2,18

 

->Reference :5,2

Week 12

Lecture 45

Income Method

->Reference :2,18

 

->Reference :5,2

Week 12

Lecture 46

Expenditure Method

->Reference :2,18

 

->Reference :5,2

Lecture 47

Circular flow of income in two sector economy and three sector economy

->Reference :2,17

 

Lecture 48

Four sector model

->Reference :2,17

 

Week 13

Lecture 49

Problems in measurement and uses of national income data

   

Lecture 50

Introduction to poverty alleviation and inclusive growth.

 

Reference 7

Lecture 51

Introduction to poverty alleviation and inclusive growth.

 

Case study from particular country, Ref

14,15

Lecture 52

Revision

   
 

Spill Over

Week 14

Lecture 53

Reaction curves in oligopoly with numerical problems.

->Reference :1,13

 

Lecture 54

National Income Accounting

->Reference :5,2

 

Details of homework and case studies

Homework No.

Objective

Topic of the Homework

Nature of homework (group/individuals/field work

Evaluation Mode

Allottment /

submission

Week

Homework 3

Group

Class will be divided into groups of 4 students each and every group will be given a case study to analyze. Each student is required to submit a separate written report on the case and it should be ensured that there is no copying in the reports. This should be followed by a group presentation.The presentation will be assessed on the clarity and knowledge of the concepts and ability to answer questions during the presentation. Written reports need to be submitted at the time of presentation but PPT should be uploaded on UMS.

Group

Written Report-5

10 / 12

Presentation

marks.

Presentation-15

marks

Homework 2

To test conceptual understanding of students on various topics

Students will be required to attempt a test of 45 minutes duration comprising 4 questions. Some of the questions may require diagrams or basic mathematical derivations. Questions will require brief but analytical answers designed to test conceptual understanding and prepare students for the examination.

Individual

4 questions

9 / 9

comprising 20

marks.

Homework 1

To enhance the conceptual understanding of students and enable them to corerlate theoretical concepts with real life issues.

Students will be given 4 questions requiring highly analytical answers.Some answers may require basic primary research and data collection from secondary sources. Questions will be designed to test the students' ability to understand microeconomic concepts and correlate them with real life economic situations.

Individual

4 questions

4 / 6

comprising 20

marks.

Scheme for CA:out of 100*

Component

Frequency

Out Of

Each Marks

Total Marks

Homework

2

3

10

20

 

Total :-

10

20

* In ENG courses wherever the total exceeds 100, consider x best out of y components of CA, as explained in teacher's guide available on the UMS

Plan for Tutorial: (Please do not use these time slots for syllabus coverage)

Tutorial No.

Lecture Topic

Type of pedagogical tool(s) planned (case analysis,problem solving test,role play,business game etc)

Tutorial 1

Demand Analysis

Case analysis

Tutorial 2

Elasticity of Demand

Case analysis

Tutorial 3

Indifference Curves

Case analysis

Tutorial 4

Short run Production and short run Cost

 

Tutorial 5

Long Run Production

 

Tutorial 6

Long Run Cost

Case analysis

Tutorial 7

Revision

 

After Mid-Term

Tutorial 8

Perfect Competition

Case analysis

Tutorial 9

Monopoly

Case analysis

Tutorial 10

Monopolistic Competition

Case analysis

Tutorial 11

Oligopoly

Case analysis

Tutorial 12

National Income Accounting

Case analysis,Problem solving

Tutorial 13

Revision