1. WELCOME to NITIE

2. Module 1, 2011 EC01 Business Economics Session Plan Vijaya Gupta

4. Sessions Session No. Topic 01 Introduction to Business Economics 02 Problem of Scarcity 03 The Market- Demand 04 The Market Supply and the Market Mechanism 05 Equilibrium in the market -Unstable and Stable Equilibrium 06 Consumer Behavior-Cardinal Utility 07 Consumer Behavior- Ordinal Utility 08 Demand Sensitivity-Price Elasticity of Demand 9 Elasticity and Revenue 10 Income, Cross-price, Advertising, Supply Elasticity

5. 11 Demand Estimation 12 Demand Forecasting Techniques 13 Production Behavior- The Short-run Production Function 14 The Long-run Production Function-The Optimal Combination of Inputs 15 The Long-run Production Function-Returns to Scale and Technological Change 16 The Behavior of Costs in the short and long run 17 The Profit Contribution or Break-even Analysis 18 Market Structures and Strategic Behavior of Firms 19 Perfect competition and Monopoly 20 Monopolistic Competition and Oligopoly 21 Pricing Strategies in Practice 22 Regulatory Issues 23-24 Assignment presentations

7. Text Books 1 Thomas and Maurice, 2010, Managerial Economics, McGraw Hill 2 Dominick Salvator and Ravikesh Srivastava, 2008, Managerial Economics – Principles and Worldwide Applications, Oxford. 3 Mansfield, Allen, Doherty, and Weigelt, 2009, Managerial Economics Theory, Applications and cases, W W Norton &Co., Seventh Edition 4 Michael R Baye, 2009, Managerial Economics and Business Strategy, Irwin G. 5 Petersen and Lewis, Managerial Economics, latest edition, Prentice- Hall. 6 Mark Hirschey, 2010, Managerial Economics: An Integrative Approach

8. Reference Books 1 G S Gupta, Managerial Economics, Tata McGraw-Hill, latest edition 2 Besanko, Dranov, Shanley, Schaefer, 2004, Economics of Strategy, Wiley. 3 Samuelson and Nordhaus, Economics, Tata McGraw-Hill, latest edition 4 William J Baumol, 2000, Economic Theory and Operations Analysis, Prentice-Hall of India. 5 Sharon M Oster, 1999, Modern Competitive Analysis, Oxford University Press.