Economics For Managers PDF

GUJARAT TECHNOLOGICAL UNIVERSITY
MASTER OF BUSINESS ADMINISTRATION (GTUS Global Program)

Year I (Semester I) (W.E.F. JULY 2013)
Subject Name: Economics for Managers (EFM)
Subject Code: 2810002
1. Course Objective:
To impart knowledge, with respect to concepts, principles and practical applications of
Economics, which govern the functioning of a firm/organization under different market
conditions.
To enhance the understanding capabilities of students about micro and macroeconomic
principles and decision making by business and government.
2. Course Duration: The course duration is of 36 sessions of 75 minutes each, i.e. 45 hours.
3. Course Contents:
Module
No:
I
II
III
IV
Module Content
Ten principles of economics, compounding

The market forces of supply and demand
Elasticity and its applications
The costs and economics of production
Firms in competitive markets:
Monopoly
Oligopoly
Monopolistic competition
Measuring a nations income
Measuring the cost of living
Production and growth, Concepts of GDP, GNP, PPP
The monetary system, Money growth and inflation
Open-economy macroeconomics Basic concepts
Aggregate demand and aggregate supply
The influence of monetary and fiscal policy on
aggregate demand
The short-run trade-off between inflation and
Unemployment
No. of
Sessions
70 Marks
(External
Evaluation)
07
17
07
17
07
18
07
18
Case: Pricing, admission to a museum. (Module I)

Case: The De Beers Diamond Monopoly (Module I)
Case: Near empty restaurants and off-season miniature
golf. (Module II)
Case: OPEC and the World Oil Prices (Module II)
Case: Advertising and the price of eyeglasses (Mod II)
Case: International difficulties in GDP and Quality of
life. (Module III)
Case: Case study using IBM Analytics or any other
alternate software.
Price Leadership and Market Leadership Model. Basics
of Game Theory and the relevance of the same in the
real world scenario
Internal
Evaluation
(20 Marks
of CEC)
08
4. Teaching Method:
(a) Case discussion covering a cross section of decision situations.
(b) Discussions on issues and techniques of Economics.
(c) Projects/ Assignments/ Quizzes/ Class participation etc
(d) Compulsory class presentation with live experiences of world economies
5. Evaluation:
A
CEC- Projects/ Assignments/ Quizzes/

Individual or group Presentation/ Class
participation/ Case studies etc
Mid-Semester examination
End Semester Examination
50 marks
(Internal Assessment)
Weightage 30%
(Internal Assessment)
Weightage 70%
(External Assessment)
6. Basic Text Books:

Sr.
No.
T1
Author
Name of the Book Publisher

Cengage Learning
Year of
Publication
Latest Edition
N Gregory Mankiw
T2
Dr D. M. Mithani
T3
G. S. Gupta
Economics:
Principles &
Applications
Managerial
Economics:
Theory &
Applications
Managerial
Economics
Himalaya
2010, Latest
Tata Mc Graw
Hill
Latest Edition
Note: Wherever the standard books are not available for the topic appropriate print and online
resources, journals and books published by different authors may be prescribed.
7. Reference Books:
Sr.
No.
Author
Name of the Book
Publisher
Year of
Publication
R1
D. Salvatore
Cengage
Latest Edition
R2
R3
H.L Ahuja
Ravindra H.
Dholakia and
Ajay N. Oza
Pindyck &
Rubinfeld
C. Rangarajan
and B. H.
Dholakia
G. S. Gupta, 3/e
Managerial Economics in a
Global Economy
Managerial economics
Microeconomics for
Management Students
Latest Edition
Latest Edition
Microeconomics
S Chand
Oxford
University
Press
Pearson
Principles of
Macroeconomics
The McGrawHill companies
Latest Edition
Macroeconomics Theory
and Applications
Economics
Tata McGraw
Hill
Tata McGraw
Hill
Excel Books
Educationa
Latest Edition
Oxford
University
Press
Oxford
University
Press
Oxford
University
Press
Cengage
Learning
Sage Text
Books
Tata
Mcgraw hill
Latest Edition
Vikas
Tata
McGraw Hill
Latest Edition
8 / e, Latest
Edition
R4
R5
R6
R7
R8
R9
Samuelson and
Nordhaus
Atmanand
I C Dhingra (SCS)
R10 D Salvatore
Managerial Economics
Essentials of Managerial
Economics
Microeconomics: Theory
and Applications
R11 Lipsey and

Chrystal
Economics
R12 D. Salvatore
Managerial EconomicsPrinciples and Worldwide

Applications
Economics for Managers
R13 Hirschey
R14 Satya P. Das
R15 Geetika, Piyali
Ghosh, Purba Roy
Choudhary
R16 D. N. Dwivedi
R17 Christopher R.
Thomes, S.Charles
Maurice
Microeconomics for
Business
Concepts and
Applications
Latest Edition
Latest Edition
Latest Edition
Latest Edition
Latest Edition
Latest Edition
Latest Edition
Latest Edition
Latest Edition
8. List of Journals/Periodicals/Magazines/Newspapers, etc.
Margin- The Journal of Applied Economic Research

South Asia Economic Journal
Global Business Review
Asian Journal of Management Cases
Global Journal of Emerging Market Economics
Economist, Economical and Political Weekly, Economic Times, Business Standard, etc
9. Session Plan:
Session
Nos.
1
2-3
4-5
6-7
8
9-10
11-12
13-14
15
16-17
18
19-20
21
22-23
24-25
26-28
29-30
31-32
33-34
35-36
Topics to be covered
Ten principles of economics, compounding
The market forces of supply and demand
Elasticity and its application
The costs of production
Firms in competitive markets
Monopoly
Oligopoly
Monopolistic competition
Measuring a nations income
Measuring the cost of living
Production and growth
The monetary system, Money growth and inflation
Open-economy macroeconomics Basic concepts
Aggregate demand and aggregate supply
The influence of monetary and fiscal policy on aggregate demand
The short-run trade-off between inflation and
unemployment
Case: Pricing, admission to a museum. (Module I)
Case: The De Beers Diamond Monopoly (Module I)
Case: Near empty restaurants and off-season miniature golf. (Module II)
Case: OPEC and the World Oil Prices (Module II)
Case: Advertising and the price of eyeglasses (Mod II)
Case: International difficulties in GDP and Quality of life. (Module III)
Price Leadership and Market Leadership Model. Basics of Game Theory and the
relevance of the same in the real world scenario and case studies based on IBM
Analytics or any other software.

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GUJARAT TECHNOLOGICAL UNIVERSITY

MASTER OF BUSINESS ADMINISTRATION (GTUS Global Program)

Ten principles of economics, compounding

Case: Pricing, admission to a museum. (Module I)

CEC- Projects/ Assignments/ Quizzes/

End Semester Examination

6. Basic Text Books:

Name of the Book Publisher

Name of the Book

The McGrawHill companies

R11 Lipsey and

Managerial EconomicsPrinciples and Worldwide

8. List of Journals/Periodicals/Magazines/Newspapers, etc.

Margin- The Journal of Applied Economic Research

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