Microeco 2015 Outline
Microeco 2015 Outline
2015-16
TERM: I
TITLE OF THE COURSE: MICROECONOMICS FOR MANAGERS
CREDITS: 4
N. Karthikeya
A 105
B-Conf. Room
B 101
Email: <@iimidr.ac.in>
ajays
joysankar
karthikeyan
srastogi
Telephone Number:
+91-731-2439622
+91-731-2439517
+91-731-2439596
Siddhartha K. Rastogi
+91-731-2439534
Course Description
This course serves as the first course in Microeconomics. The focus of the course is on understanding of
economic concepts and tools to facilitate decision-making in business management as well as public policy
contexts. A special emphasis is given on conceptual application in Indian contexts.
Course Objectives
The course aims to equip participants with intermediate level economic concepts and tools of analysis to
develop critical thinking and analytical skills to apply under different business situations. Concepts of this
course can further be applied in Industrial Regulation, Strategic Competition, International Business,
Marketing, Managerial Accounting, Public Policy, etc.
Pedagogy/Teaching Method:
All sessions are lecture based. Applications and case studies are used for illustrative purposes to reinforce
the understanding of concepts and tools.
The basic reference book used is: Besanko, D. and Braeutigam, R. (2011) Microeconomics, 4 th Edition, Wiley
India. (Hereafter B-B).
Make-up Exam policy
There is no makeup provision for the quizzes; whereas makeup for mid-term and end-term exams will be
given only if the participant was on medical leave with approval from PGP Chair.
The nature of such make up will be on the discretion of the instructors.
Evaluation
Class Participation
Surprise Quizzes
Mid-term Exam
End-term Exam
Total
Weightage
10
20
35
35
100%
SCHEDULE OF SESSIONS
Module I
Module Objective:
Session 1:
Objective:
Reading:
Case:
Module II
Module Objective:
Consumer Behavior
To understand the behavior patterns of consumers under different conditions
Session 2:
Objective:
Reading:
Case:
Consumer Behaviour
How consumers match scarce resources with unlimited wants
B-B, Chap -3, pg 75-89 and Chap-4, pg 105-112
How People Buy Cars: Importance of Attributes, B-B, pg 89
The Marginal Utility of Home Cooking versus Eating out, B -B, pg 113.
Session 3 - 4:
Objective:
Reading:
Case:
Session 5:
Objective:
Reading:
Case:
Elasticity
How to measure the changes in demand and supply
B-B, Chap-2, pg 43-54
Coke versus Pepsi, B -B, pg 53.
Session 6 - 7:
Objective:
Reading:
Case:
Module III
Module Objective:
Session 8:
Objective:
Reading:
Case:
Theory of Production
What are the basic concepts related to production choices
B-B, Chap -6, pg 201-226 and 230-233
High-Tech Workers versus Low-Tech Workers, B-B, pg 220.
Session 9:
Objective:
Reading:
Case:
Theory of Cost
What are the relevant costs and ensuing implications
B-B, Chap-7, pg 245-257 and Chap -8, pg 287-304
Self-Checkout or Cashier?, B-B, pg 257; The Costs of Higher Education, B-B, pg 295.
Session 10:
Objective:
Reading:
Case:
Module IV
Module Objective:
Market Structures
To explore different market structures and implications for economic decisions
Session 11:
Objective:
Reading:
Case:
Competitive Supply
How markets behave under perfectly competitive environment
B-B, Chap-9, pg 330-341 and 366-377.
The ambiguous economics of Net neutrality; Available at:
http://www.livemint.com/Industry/hz8BtbDLFnLkV69HU2EWUP/The-ambiguouseconomics-of-Net-neutrality.html
Session 12:
Objective:
Reading:
Case:
Session 16-17:
Objective:
Reading:
Case:
Competitive Strategy
How market structures make decision-making a strategic and competitive process
B-B, Chap -14, pg 571-589
Everyone Loses Except Lawyers, B-B, pg 576.
Module V
Module Objective:
Market Failures
To explore situations and remedies when markets fail
Session 18:
Objective:
Reading:
Case:
Externalities
Are there situations where markets fail due to externalities
B-B, Chap-17, pg 697-718
Londons Congestion Charge, B -B, pg 712.
Session 19:
Objective:
Reading:
Case:
Public Goods
What are the problems in provision of public goods
B-B, Chap 17, pg 719-723.
Is Market Failure a Sufficient Condition for Government intervention?; Available at:
http://www.econlib.org/library/Columns/y2013/CardenHorwitzmarkets.html
Session 20:
Objective:
Reading:
Economics of Information
What are the cost, benefits, and implications of information
B-B, Chap -15, pg 623-627.
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