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Elasticity of demand. Week 2 Estimation of the demand function. Interviews, surveys and experiments. Regression analysis of consumer demand. Demand forecasting. Week 3 Production and cost analysis. Linear programming applications. Week 4 Cost estimation and forecasting. Short run cost estimation. Long run cost week Market structure analysis. Model of the firm’s pricing decisions. Basic market forms. Price takers, price makers. Price making in oligopolies with mutual dependence recognized. Pricing for long-term objectives. Week 7 Setting the initial price for a new product. Adjusting price over time.
Mid-Semester Test (30 marks). Types of competitive bids and price quotes. Competitive bidding in prices. The view from the other side. Optional purchasing. Wee k 9 Advertising and promotional decisions. Optional advertising expenditures under cutters Paramus conditions. Advertising and promotional expenditures when mutual dependence is recognized. Uncertainty in advertising. Week 10 Product design for a cost leadership strategy. Product design for a differentiation strategy. Product design for a focus strategy. Week 1 1 Decision making under risk and uncertainty. Decision tree and expected present- alee analysis.
Risk analysis of decision alternatives. Adjustments for risk in decision-making. Week 12 Capital Budgeting and alternative investments. Week 13 Role of Government in Business. Week 14 Some useful techniques in managerial economics: Input-output analysis. Game theory. Optimization theory. Week 15 Revision and Final Examination ASSESSMENT GRADING SCHEME 20 marks Assignment(s) Final Examination 60 marks Total 100 marks D – 65% to less than 75% 55% to less than 65% 45% to less than 55% F – 0% to less than 45% READING LEST Herschel, Mark & Pappas James Managerial Economics, 2005
Mansfield, Edwin OTHERS Call & Holman Davies, Howard Haynes, William Hill, Stephen Managerial Economics, 4th De. , 2005 Managerial Economics, Cal. Headwords Pub. Co. 1995 Managerial Economics, London Pitman, 2001 Reading in Managerial Economics, Business Pub. Inc. Managerial Economics, London Mac Million, 1998 Simon, Julian Applied Managerial Economics, London, Prentice-Hall, 2001 South, Lawrence Managerial Economics, Texas, 2000 A list of Journals and other references will be provided from time to time. Any other text (s) on the subject matter will be useful.