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ECO 408 Managerial Economics

This Course ECO 408 Managerial Economics introduces the basic concepts of Economics. After going through this course, one will come to know that how Economics is helpful for Managers in their Decision making process. 

Objectives of Managerial Economics under the Course ECO 408 Managerial Economics are: 

  • Analyzing economics concept.
  • Micro Economics and macroeconomics
  • Concept of managerial economics
  • What's the difference between economics and Managerial Economics and its relationship with management?

Some of the economic concepts which help managers in decision making: 

  • Price elasticity of demand
  • Income elasticity of demand
  • Cost and output relationship
  • Opportunity cost
  • Multiplier
  • Propensity to consume
  • Marginal revenue product
  • Production function
  • Demand theory
  • Money and banking
  • Public finance and fiscal and monetary policy
  • National income
  • Theory of international trade

ECO 408 Managerial Economics course is carrying total 3 Credits. This economics course will explore on the application of economic principles & analyses to contemporary business problems / managerial decision making. Emphasis will be given to price & production decision making for profit maximization, strategic decision making in various business situations, investment decision making for a new project, and decision making with risks and uncertainty. Prerequisite of this course is ECO 204.

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