Diploma
Managerial Economics
This course will explore how markets function. The course aims to provide the dynamics of markets and the outcomes through the relationships between production, costs, and profits under different market settings.
Course ID: BSMS3206
Course Credits: 4
Course Type: Diploma
Pre-requisites: None
Course structure & Assessments
For details of standard course structure and assessments, visit Academics page.
| WEEK 1 | The economic way of thinking, marginal analysis |
| WEEK 2 | indifference curve, demand, supply, and market |
| WEEK 3 | Elasticity and empirical methods for demand analysis |
| WEEK 4 | Determinants of price elasticity, supply function |
| WEEK 5 | Effect of supply and demand shocks, differentiation and cost leadership |
| WEEK 6 | Technology and production functions |
| WEEK 7 | Cost functions—long run and short run, cost and productivity relationship |
| WEEK 8 | Perfectly competitive market, monopoly |
| WEEK 9 | Monopsony and monopolistic Competition |
| WEEK 10 | Oligopoly, Bertrand and Cournot models |
| WEEK 11 | Asymmetric information, principal agent |
| WEEK 12 | Adverse selection and moral hard |
Prescribed Books
The following are the suggested books for the course:
1. J Perloff and J Brander, Managerial Economics and Strategy, Pearson, Second Edition
2. M R Baye and J T Prince, Managerial Economics and Business Strategy, Tata McGraw, Nineth Edition
3. L Froeb, B McCannm, M Shor, and M Ward, Managerial Economics: A Problem-Solving Approach
4. R Pindyck and D Rubinfeld, Microeconomics, Pearson, Nineth edition
About the Instructors
Dr. Prakash Sai is a Professor of Strategy with Department of Management Studies, IIT Madras. He specializes in the broad domains of Technology Management & Innovation, Strategy & Policy Studies and Technopreneurship. In a career spanning three decades, he contributed to the growth, profitability and sustainability of several firms in public and private sectors through his consulting work and training programs. He served Tata Consultancy Services (TCS) for over a decade in various capacities as Management Consultant, Business Development Manager and Director (Strategic Planning), North America Operations having USD 1.5 billion revenue. He served as a Visiting Faculty at University of Applied Sciences, Hof, Germany and University of Passau, Germany, Nagaoka University of Technology, Japan, Harare Institute of Technology, Zimbabwe and University of Mauritius. He guided 15 Ph.D. theses and 9 MS theses; published research articles in international journals and co-authored a book, entitled: “Total Quality Management in Higher Education”. He holds B.Tech. Mechanical Engineering, M.Tech. Industrial Engineering, from Sri Venkateswara University, Tirupati; and Ph.D. in Technology Management from IIT Madras.
Other courses by the same instructor: BSMS1204 - Management Thought and Practice and BSMS2208 - Macroeconomics