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EC209 Managerial Economics

Second Year B.Comm

Review of microeconomic aspects of First Year Course in Introductory Economics, and in greater detail the following:� Demand Analysis: Individual consumer behaviour, market, demand, cross demand, elasticity. Utility approach: Indifference curve analysis. Production: production functions, cost of production, isoquants, application of supply and demand analysis. Market Structures: purely competitive market, market equilibrium, the theory of the firm, monopoly pricing and output decisions under monopoly and under perfect competition, imperfect markets, monopolistic competition. Income distribution: factor markets and determination of factor prices. General equilibrium. Welfare economics.

Priority Research Area: Innovation Systems

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