UNIT 1:
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Definition of economics - nature and scope of economic science
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Definition of economics - nature and scope of economic science
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Nature and scope of managerial economics - basic terms and concepts - goods - utility - value - wealth
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Nature and scope of managerial economics - basic terms and concepts - goods - utility - value - wealth
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Economies of large and small scale - consumption
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Wants - its characteristics and classification
UNIT 2:
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Demand - demand schedule - demand curve
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law of demand - elasticity of demand - types of elasticity
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Supply – supply schedule - supply curve
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Market price and normal price
UNIT 3:
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Forms of business
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Mixed economy - money and banking - banking - kinds
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Control of credit - monetary policy - credit instrument
UNIT 4:
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Types of financing
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Short term borrowing - Long term borrowing
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Internal generation of funds - External commercial borrowings
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Assistance from government budgeting support
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Funds flow statement
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Profit and Loss account
UNIT 5:
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Types of costing – traditional costing approach - activity base costing
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Fixed Cost variable cost – marginal cost
