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The Business Economics course aims to teach students how economic principles can be applied to business decision-making. This course covers supply and demand analysis, cost and revenue analysis, market structures, macroeconomic factors, and international trade.

Students will learn how to use economic models to analyze business decisions, including pricing strategies, investment decisions, and production decisions. The course also covers forecasting, risk analysis, and strategic planning.

After the successful completion of this course, you will be able to:

Managerial Economics and Demand Analysis:

• Understand the Nature and Scope of Managerial Economics.
• Understand Optimization Techniques and New Management Tools.
• Understand Demand Theory and Price Elasticity of Demand.
• Understand Demand Estimation & Demand Forecasting.

The Macroeconomic Environment:

• Understand Price Discrimination & International Price Discrimination.
• Understand Transfer Pricing & Pricing in Practice Cost-Plus Pricing.
• Explore Different Types of Pricing in Practice.
• Understand Capital Budgeting.
• Understand how to Evaluate Investment Projects.
• Understand Market failure and regulation.
• Understand Risk Analysis.

Production and Cost Analysis and Estimation:

• Understand the Classical Production Theory.
• Understand the Optimum Factor of Combinations.
• Understand the Price Elasticity of Supply.
• Understand the Short-run and Long-run Cost Theories.
• Understand the Break-even-analysis, Cost-Benefit analysis, Outscoring, and Cost.
• Understand the Learning curve, Product innovation, and Process Innovation Life-Cycle Model.

Pricing Practices and Market Failure:

• Understand Price Discrimination & International Price Discrimination.
• Understand Transfer Pricing & Pricing in Practice Cost-Plus Pricing.
• Explore Different Types of Pricing in Practice.
• Understand Capital Budgeting.
• Understand how to Evaluate Investment Projects.
• Understand Market failure and regulation.
• Understand Risk Analysis.

The Market Structure and Game Theory:

• Understand the structure of Markets
• To Compare the Different Market Structures.
• Understand the Game Theory.
• Explore different types of Game Theories.
• Understand the Nash Equilibrium.
• Understand the Prisoners’ Dilemma.