IMMG 12023

>< Title : Economics for Managers
>< Type/Status : Core Course
>< Teaching and learning objectives:
The main objective of this course is to impart fundamental knowledge on economic forces in a micro and macro context, with a view to providing a basis for higher learning of economics needed for managerial decision making.
Students will be able to differentiate between macro and micro-economics, analyze decision situations using economic concepts and make prudent decisions on successful completion of this course.
>< Course Content:

Definition of Micro and Macro Economics. Basic Macro Economic Concepts, Gross Domestic Product, Gross National Product, Per Capita Income, Balance of Payment and Inflation. Demand and Supply for a Product and their determinants, Elasticity of Demand and Supply. Production and cost Functions of a Firm, Marginal Analysis, Investment and Risk Analysis, Evaluation of Investment Projects. macroeconomic issues such as economic growth, inflation, and unemployment; alternative macroeconomic theories; and fiscal and monetary policies. Equivalent Theory of individual economic behaviour; price determination; market structures; labour, capital and natural resource markets; international economics; and current microeconomic topics.

>< Methodology:
The course will be delivered in a combination of lectures and interactive sessions.
>< Scheme of Evaluation:
End-of-semester examination and continuous evaluation.
>< Recommended Reading:
1. Samuelson and Nordhaus, “Economics”, 16th Edition, 1998, Irwin McGraw-Hill.
2. Maurice and Thomas, “Managerial Economics”, 2001, Irwin McGraw-Hill.
3. John Sloman and Mark Sutclifee, “Economics”, 2003, Prentice Hall.

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