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Microeco 2015 Outline

This document provides information about a post graduate course in Microeconomics for Managers offered at IIM Indore in 2015-16. The 4 credit course is taught over 20 sessions in 5 modules covering basic microeconomic concepts, consumer and producer behavior, market structures, market failures, and strategic decision making. Evaluation is based on class participation, quizzes, mid-term exam, and end-term exam. The course aims to develop critical thinking and analytical skills to apply microeconomic tools and concepts in business and policy contexts.

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0% found this document useful (0 votes)
60 views3 pages

Microeco 2015 Outline

This document provides information about a post graduate course in Microeconomics for Managers offered at IIM Indore in 2015-16. The 4 credit course is taught over 20 sessions in 5 modules covering basic microeconomic concepts, consumer and producer behavior, market structures, market failures, and strategic decision making. Evaluation is based on class participation, quizzes, mid-term exam, and end-term exam. The course aims to develop critical thinking and analytical skills to apply microeconomic tools and concepts in business and policy contexts.

Uploaded by

md1sabeel1ansari
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
You are on page 1/ 3

Post Graduate Programme in Management

2015-16
TERM: I
TITLE OF THE COURSE: MICROECONOMICS FOR MANAGERS
CREDITS: 4

Name of the Faculty member:


Ajay Sharma
Joysankar Bhattacharya

N. Karthikeya

Faculty Block and Room no.:


J 206

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:

Basic Economic Concepts


To introduce the participants to the economic way of thinking

Basic Economic Concepts


How economists think to make sense of the world
B-B, Chap-1
The Toughest Ticket in Sports, B-B, pg 15.

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:

Demand and Supply Analysis


What and how affects demand and supply of various classes of goods
How an equilibrium is reached under different conditions
B-B, Chap- 2, pg 26-41 and Chap 5, pg 150-159
A Computer on Every Desk and in Every Home, B-B, pg 41.

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:

Impact of Taxes and Subsidies


How government's policy decisions enter the map of consumer behavior
B-B, Chap-10
Gallons and Dollars: Gasoline Taxes, B-B, pg 396;
A Bailout of the King of Cheeses, B-B, pg 421.

Module III
Module Objective:

Production and Pricing Decisions


To study production decisions and product pricing under different conditions

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:

Labor Supply Decision


How much to work and when to stop

Reading:
Case:

B-B, Chap -5, pg 187-193


Substitution Bias in Price Indexes, B -B, pg 194.

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:

Monopoly and Market Power


How markets behave when market power exists
B-B, Chap-11, pg 439-457 and 469-474
Market Power in the Breakfast Cereal Industry, B-B, pg 457.

Session 13 - 14: Pricing with Market Power


Objective:
How to price the product when cost is not the only parameter
Reading:
B-B, Chap-12, pg 485-517
Case:
Education in the First Degree, B-B, pg 494; Bundling Cable, B-B, pg 517.
Session 15:
Objective:
Reading:
Case:

Monopolistic Competition and Oligopoly


What are the more common market structures and their process of decision-making
B-B, Chap-13, pg 528-545 and 558-562
When a Good Doctor is Hard to Find, B-B, pg 562.

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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