Managerial Economics - meaning, nature and scope - Managerial Economics and business decision making - Role of Managerial Economist - Fundamental concepts of Managerial Economics. Demand Analysis - meaning, determinants and types of demand - Elasticity of demand.

Supply meaning and determinants - production decisions - production functions - Isoquants, Expansion path - Cobb-Douglas function. Cost concepts - cost - output relationship - Economies and diseconomies of scale – cost functions.

Market structure - characteristics - Pricing and output decisions - methods of pricing - differential pricing - Government intervention and pricing.

Profit - Meaning and nature - Profit policies - Profit planning and forecasting - Cost volume profit analysis - Investment analysis.

National Income - Business cycle - inflation and deflation - balance of payments - Monetary and Fiscal Policies