Paper Code: 20MC021C3                Semester-I 
                           
                           
                           
                           
                           
           MANAGERIAL ECONOMICS 
      
                     M.Com (Previous) 
      
      
      
      
      
      
      
      
                                 
                            
              DIRECTORATE OF DISTANCE EDUCATION 
             MAHARSHI DAYANAND UNIVERSITY, ROHTAK 
            (A State University established under Haryana Act No. XXV of 1975) 
                  NAAC 'A +’ Grade Accredited University 
      
       
       
       
       
       
       
       
       
       
       
       
                            Author 
                          Dr. Sangita Rani 
                   Assistant Professor, Department of Commerce 
                     Maharshi Dayanand University, Rohtak 
                               
                               
                               
                               
                               
                               
                               
                               
                               
                               
                               
                               
                               
                 Copyright © 2020, Maharshi Dayanand University, ROHTAK 
       All Rights Reserved. No part of this publication may be reproduced or stored in a retrieval system or transmitted 
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                        Maharshi Dayanand University 
                          ROHTAK – 124 001 
                         Index 
                           
     Unit – I ........................................................................................................................................................1 
     Managerial Economics: Nature and Scope ..................................................................................................3 
     Fundamental Economic Concepts ................................................................................................................9 
     Consumer Behaviour .................................................................................................................................12 
     Cardinal Utility Analysis ...........................................................................................................................13 
     Ordinal Utility Analysis (Indifference Curve) ...........................................................................................21 
     Demand Estimation and Forecasting .........................................................................................................27 
     Unit – II .....................................................................................................................................................34 
     Theory of Production .......................................................................................................................................... 36 
     Isoquants ....................................................................................................................................................45 
     Theory of Costs ..........................................................................................................................................50 
     Behaviour of Firm under various market situations ..................................................................................63 
     Unit – III ...................................................................................................................................................79 
     Macro-Economics ......................................................................................................................................81 
     Circular Flow of Income ............................................................................................................................84 
     Multiplier ...................................................................................................................................................88 
     Accelerator .................................................................................................................................................93 
     Marginal Efficiency of Capital ..................................................................................................................95 
     Inflation ......................................................................................................................................................97 
     Economic Growth: Measurement and Determinants .................................................................................99 
     Unit – IV..................................................................................................................................................107 
     Budgets and Budgetary Deficits ..............................................................................................................109 
     Deficit Financing  ....................................................................................................................................115 
     Public Debt Operations and Its Management ..........................................................................................118 
     Balance of Payment Management ...........................................................................................................120 
     Foreign Exchange Reserves .....................................................................................................................124 
     Business Cycles .......................................................................................................................................135