HS 700: Applied Economics

Introduction: Nature and Scope of Applied Economics ` Methodological Aspects `` Common Tools and Techniques.` Economics of Risk and Uncertainty ` Difference between Applied Economics and Economics.` Fundamental concepts associated with Applied Economics.`

Analysis of Demand and Supply and their Applications: Elasticity of Demand and Supply, and Applications to major Economic Issues.` Demand Estimation and Forecasting.` Study of Economic Environment.

Theory of the firm ` Objectives ` Production and Cost Analysis ` Production Function ` Efficiency and Productivity ` Decision making under Uncertainty ` The value of Information.` Various definitions of Costs for Managerial Applications ` Cost Estimation and Forecasting.

Market Structure & Pricing and Output Strategy: Perfect Competition, Monopoly, Monopolistic Competition and Oligopoly` ` Game Theory and Competitive Strategy.` Fundamental Elements of Investment Analysis.

Texts/References:

Baumol, William J., Economic Theory and Operations Analysis, [: Prentice Hall India Ltd.] Fourth Edition, 1985.

Mansfield, Edwin,` Managerial Economics, [: Prentice Hall India Ltd.], 2000.

Samuelson, William F. and Stephen G. Marks,` Managerial Economics [: The Dryden Press], 1995.

Sloman, John H., Economics [: Prentice Hall India Ltd.] Second Edition, 1994.

Varian, Hal,` Intermediate Microeconomics: A Modern Approach, Fifth Edition [: Norton, 1999.