Principles and Practices of Managerial Economics

By Prof. H K Singh, Prof. Veenita Singh, Prof. Shantanu Saurabh | Banaras Hindu University

Learners enrolled: 52

ABOUT THE COURSE:

This course will immensely help its participants to understand, analyse and implement the concepts of business economics in the real managerial world. It will also assist the interested stakeholders to know the complexities and collect substantial evidences of the applied portion of economics. This course will encompass all the broader parameters and horizons of business, economics, trade and allied fields. Altogether this will be a genuine attempt to make a happy and healthy learning session. This course has covered not only the rudimentary concepts, theories and law but also there practical implications for the corporate world. So appropriate tables, graphs and diagrams along with numerical have been properly annexed. In this course the pragmatic and lucid style for verifying the complex issues have been adopted so that the interested learners will be benefited for studying the course in easiest way.

INTENDED AUDIENCE: Intermediate students, Diploma students, Undergraduate students, Post graduate students, Research Scholars and Faculty Members.

PREREQUISITES: Basic understanding of Economics, Commerce and Management or allied subjects.

INDUSTRY SUPPORT: Will be beneficial for productivity based organizations and for new entrants of the Industry.

Summary

Course Status :	Upcoming
Course Type :	Core
Language for course content :	English
Duration :	12 weeks
Category :	Commerce
Credit Points :	3
Level :	Undergraduate/Postgraduate
Start Date :	21 Jul 2025
End Date :	10 Oct 2025
Enrollment Ends :	28 Jul 2025
Exam Registration Ends :	15 Aug 2025
Exam Date :	25 Oct 2025 IST
NCrF Level	4.5, 7.0

Note: This exam date is subject to change based on seat availability. You can check final exam date on your hall ticket.

Page Visits

Course layout

Week 1: Managerial Economics and Economist
Introduction to Economics, Indian Perspective of Economics, Microeconomics & Macroeconomics, Concept, Definition, Characteristics, Nature, Scope, Significance, Methodology of Managerial Economics, Relation of Managerial Economics with other Subjects, Difference between Economics and Managerial Economics, Objectives of the Firm- Profit Maximization & Wealth Maximization Objectives of the Firm, Decision Making in Business, Features of Decision making, Role & Responsibilities of Managerial Economist.

Week 2: Consumer Behaviour- I
Consumer Behaviour- Basic Concept Utility- Concept, Characteristics, Measurement & Kinds of Utility, Relationship between Marginal and Total Utility, Difference between Cardinal & Ordinal Approach. Law of Diminishing Marginal Utility- Concept, Assumption, Tabular and Graphical Representation, Exceptions, Importance and Limitations of Law of Diminishing Marginal Utility. Law of Equi- Marginal Utility- Concept, Assumptions, Importance, Criticism, Tabular and Graphical Representation & Modern Interpretation of the Law of Equi- Marginal Utility. Consumer Surplus- Concept, Assumptions, Tabular and Graphical Representation, Importance & Criticism of Consumer Surplus.

Week 3: Consumer Behaviour –II
Indifference Curve Analysis- Concept, Assumption, Features, Importance & Limitations of Indifference Curve, Indifference Schedule, Curve & Map, Marginal Rate of Substitution and its types, Indifference Curve Slope and Marginal Rate of Substitution, Budget Line, Change in Budget Line & Consumer Equilibrium through Indifference Curve. Revealed Preference Theory- Concept, Assumption, Significance and Explanation of Revealed Preference Theory.

Week4: Demand and Law of Demand & Elasticity of Demand
Demand and Law of Demand- Concept, Classification & Determinants of Demand, Demand Schedule & Curve, Concept, Assumptions, Tabular and Graphical Representation, Exceptions of Law of Demand, Reasons for the Downward Slope of the Demand Curve, Movement along the Demand Curve and Shift in the Demand Curve. Elasticity of Demand- Concept, Determinants, Price, Income, Cross, Degree and Importance of Elasticity of Demand, Methods of Measuring Price Elasticity of Demand.

Week 5: Demand Forecasting, Supply and Law of Supply
Demand Forecasting- Concept, Features, Objectives, Steps, Factors, Importance, Challenges, Methods of Demand Forecasting (For Old Products & New Product) & Criteria for a Good Forecasting Method. Supply and Law of Supply- Concept, Determinants of Supply, Supply Schedule and Curve, Law of Supply and its Exceptions. Elasticity of Supply- Concept, Determinants, Types & Importance of Elasticity of Supply.

Week 6: Production and Theory of Production
Production- Concept, Factors and Sectors Involved in Production. Production Function- Concept, Features, Assumptions, Types and Importance of Production Function. Theory of Production- Law of Variable Proportion, Law of Return to Scale & Economies and Diseconomies of scale.

Week 7: Pricing Policy
Pricing- Concept, Importance, Problems of Pricing. Pricing Policy- Objectives, Factors, Types, Methods & Process of Price Determination.

Week 8: Cost Analysis
Concept, Types, Factors and Importance of Cost Analysis, Concept of Cost-Function and Cost-Output Relationship in Short-Run & Long-Run.

Week 9: Revenue Analysis and Theory of Profit
Revenue Analysis- Concept, Types, Importance & Comparative Study of Revenue Curves under Different Markets. Theory of Profit- Concept, Features, Types of profit & Theories of Profit.

Week 10: Forms of Market and Perfect Competition
Forms of Market- Concept, Features, Classification, Factors & Determinants. Perfect Competition- Concept, Features, Determination of Equilibrium Price in Perfect Competition, Change in Equilibrium Price, Determination of Price in Perfect Competition, & Equilibrium of Firm in Short-Run and Long-Run.

Week 11: Monopoly Market
Concept, Features of Monopoly, Price Determination under Monopoly, Equilibrium of the Firm in the Short-Run and Long-Run under Monopoly, Discriminating Monopoly- Concept, Causes, Types, Condition, Degree & Price output Determination under Discriminating Monopoly.

Week 12: Monopolistic Competition and Oligopoly Market
Monopolistic Competition- Concept, Features, Price Determination under Monopolistic Competition, Equilibrium of the Firm in Short-Run and Long-Run under Monopolistic Competition. Oligopoly Market- Concept, Features, Types & Price and Output Determination Under Oligopoly. Duopoly- Concept & Features of Duopoly and Difference between Perfect Competition, Monopolistic Competition, Monopoly, and Oligopoly.

Books and references

1) Varshney R. L. and Maheshwari K. L. (2018) Managerial Economics: Texts, Problems and Cases. Sultan Chand & Sons.

2) Ahuja H. L. (2017) Managerial Economics: Analysis of Managerial Decision Making. S Chand Publishing.

3) Agarwal V. (2013) Managerial Economics. Pearson Education India.

4) Adhikara, M (2002). Business Economics. Excel Books India.

5) Nadar, E.N., & Vijayan, S. (2020). Managerial Economics. PHI Learning Private Limited.

6) Bhattacharya, D., & Chakrabarti, P. (2017). Fundamentals of Business Economics. BS Publications.

Instructor bio

Prof. H K Singh

Banaras Hindu University

Prof. Harendra Kumar Singh is presently holding the post of Head and Dean at Faculty of Commerce, Banaras Hindu University, Varanasi. Prof. Singh has been the Founder Vice Chancellor of Maharshi University of Information Technology, Lucknow. He has been the Gold medalist of B.Com, M.Com and after qualifying NET(JRF) of UGC, he joined academic profession in 1986. He was born in 1964 at Ballia, Uttar Pradesh and has contributed to the academic fraternity for 34 years. He has written 19 popular texts cum reference books (out of which 3 have been awarded as best book by AICTE, New Delhi) and more than 50 quality research papers to the Journals of National and International repute. Over 20 distinguished scholars have obtained their Ph.D. degree under his supervision and he has completed the major research project of UGC, New Delhi. He has organized various National and International Conferences, Seminars, Webinars and Workshops. In addition to a fusion of qualitative and quantitative aspects in the field of teaching and research, he has been versatile Corporate Trainer, Consultant, and Administrator. He has been expert member of numerous Board of Studies and Selection Committee of different renowned universities. He is a voracious reader and his book reviews have appeared in many academic journals. He runs blog on contemporary issues, book reviews and poetry. He has been the President of Indian Association for Management Development, Managing Editor of Indian Journal of Commerce, NCC officer to the rank of Capt, Programme Coordinator of NSS (BHU), Students Advisor and Program Co-ordinator of MBA (Financial Management). Prof.Singh has extensively travelled abroad for different academic activities. He has been a profound Academician, Motivational Speaker, Freelancer and Social Activist vis-a vis efficient and effective Administrator of Institutions of National repute.

Prof. Veenita Singh

Prof. Veenita Singh is currently serving as Assistant Professor at Department of Commerce, RGSC, Banaras Hindu University (BHU). She has completed her M.Com. from BHU, Varanasi and D.Phil. from University of Allahabad, Prayagraj, India. She has also qualified UGC-NET examination. Her specialization includes Business Economics and Finance. Prior to joining BHU she has served as Assistant Professor at School of Management Sciences, Varanasi, Uttar Pradesh, India. Dr. Singh has made publications in quality journals and edited books of national and international repute. She is considered to be an amazing anchor, social worker, academician, and researcher.

Prof. Shantanu Saurabh

Prof. Shantanu Saurabh is an expert in Finance, Economics and currently serving as Assistant Professor at DAV P.G. College, Banaras Hindu University (BHU), Varanasi, Uttar Pradesh, India. Before joining DAV, Dr. Saurabh has worked as Assistant Professor at The Maharaja Sayajirao University of Baroda, Vadodara. Gujarat, India; Kalinga Institute of Industrial Technology (KIIT), Bhubaneshwar, Orissa, India and MBA (Agri-Business Department) at RGSC, Banaras Hindu University (BHU), Mirzapur, Uttar Pradesh, India. He has completed his MBA and D.Phil. from University of Allahabad, Prayagraj, India. He has also qualified UGC-NET examination. Dr. Saurabh has experience of working at PRADAN organization before entering into the world of academia. He has 8 years of PG teaching and research. He has published numerous papers in Scopus, ABDC and UGC Care listed journals. He has published 5 edited books and 2 content books in field of Accounting and Economics. Dr Saurabh is profound academician, consultant, speaker and a healer.

Course certificate

The course is free to enroll and learn from. But if you want a certificate, you have to register and write the proctored exam conducted by us in person at any of the designated exam centres.

The exam is optional for a fee of Rs 1000/- (Rupees one thousand only).

Date and Time of Exams: 25 October 2025 Morning session 9am to 12 noon; Afternoon Session 2pm to 5pm.

Registration url: Announcements will be made when the registration form is open for registrations.

The online registration form has to be filled and the certification exam fee needs to be paid. More details will be made available when the exam registration form is published. If there are any changes, it will be mentioned then.

Please check the form for more details on the cities where the exams will be held, the conditions you agree to when you fill the form etc.

CRITERIA TO GET A CERTIFICATE

Average assignment score = 25% of average of best 8 assignments out of the total 12 assignments given in the course.
Exam score = 75% of the proctored certification exam score out of 100

Final score = Average assignment score + Exam score

Please note that assignments encompass all types (including quizzes, programming tasks, and essay submissions) available in the specific week.

YOU WILL BE ELIGIBLE FOR A CERTIFICATE ONLY IF AVERAGE ASSIGNMENT SCORE >=10/25 AND EXAM SCORE >= 30/75. If one of the 2 criteria is not met, you will not get the certificate even if the Final score >= 40/100.

Certificate will have your name, photograph and the score in the final exam with the breakup. It will have the logos of INI and BHU.

Only the e-certificate will be made available. Hard copies will not be dispatched.

Once again, thanks for your interest in our online courses and certification. Happy learning.

- INI team