WBUT Syllabus for MBA 1st Semester - 2019 2020 MBA
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Old 16th July 2012, 10:03 AM
Default WBUT Syllabus for MBA 1st Semester

Sir, I am from Kolkata and selected in West Bengal University of Technology for MBA. This is first semester and I am weak at economics so Would you please give me updated syllabus of MBA 1st semester of economics?
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Old 16th July 2012, 02:39 PM
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Join Date: May 2012
Default Re: WBUT Syllabus for MBA 1st Semester

Here I am giving you the syllabus of managerial economics:
Chapter 1: Introduction to Managerial Economics
Managerial Decision Making and Economic Theory, Goals of the firm: Measuring and Maximising Economic Profit, Economic
Cost of Using Resources, Economic Profit versus Accounting Profit, Other Goals (Value Maximisation, Revenue Maximisation
etc.), Forms of Business Organisation, Separation of Ownership and Control, Pricing decisions under Risk and Uncertainty, The
Principal-Agent Problem, Asymmetric Information, Moral Hazard and Adverse Selection. (4L)

Chapter 2: Demand Analysis
(A) Demand Functions - Law of Demand, Explaining the law of demand, Violations of the Law of Demand, Shifts in
Demand; Elasticity of Demand: Price Elasticity (at a point and over and interval), Factors affecting price elasticity,
Price elasticity and Change in Total Revenue, AR, MR and Price elasticity, Range of Values of Price Elasticity;
Income Elasticity, Inferior, Superior and Normal goods, Income Elasticity and Share in Total Expenditure; Cross-
Price Elasticity, Substitutes and Complements; (5L)
(B) Introduction to methods of demand estimation (2L)
(CIndifference curves, budget line and consumer equilibrium, ICC, PCC (idea only) (2L)

Chapter 3: Production and Cost Analysis
(A) Production Function, Short Run and Long Run, Production with One Variable Input, Total Product, Average and
Marginal Products, Law of Variable proportions, Relationship between TP, AP and MP. (4L)
(B) Short Run Costs of Production, Fixed and Variable Costs, Short Run Total, Average and Marginal Cost and
Relationship between them, Short Run Cost Curves, Relationship between AVC, MC, AP and MP; Long run cost
curves, Relationship between LAC and SAC, Economies of Scale and Scope, (3L)
(C) Production with Two Variable Inputs, Isoquants – Characteristics, Marginal Rate of Technical Substitution, Laws of
Returns to Scale, Isocost Curves, * # Finding the Optimal Combination of Inputs, Production of a given output at
Minimum Cost, Production of Maximum Output with a given level of Cost, Expansion Path, Finding the Long Run Cost Schedules from the Production Function, (4L)
(D) Law of supply, elasticity of supply, market equilibrium, changes in equilibrium. (2L)

Chapter 4: Managerial Decision Making under Alternative Market Structures
(A) Characteristics of Perfect Competition, #Profit Maximisation in Competitive Markets, Output Decision in the Short
Run, Shut Down Point, Short Run Supply for the Firm and Industry; Output Decision in the Long Run, Break Even
Point, Long Run Supply for the Perfectly Competitive Industry, Profit Maximising Input Usage under Competitive
Conditions; (3L)
(B) Profit Maximisation under Monopoly, Output and Pricing Decisions in the Short and Long Run, (2L)
(C) Short and long run equilibrium under monopolistic competition (1L)
(D) Interdependence of strategic decision making – oligopoly, Collusion – cartels, price leadership. (2L)
Chapter 5: Pricing Decisions

Price Discrimination under Monopoly, Average Cost Pricing, Marginal cost pricing, Peak Load Pricing, Limit Pricing, Multi-
product Pricing, Transfer Pricing. (5L)

Chapter 6: Externalities and Market Failure
Understanding externalities and market failures, pricing under market failure (2L)
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