This document provides information about a Managerial Economics course taught at Fatima Jinnah Women University. The course is a 3 credit, foundation/core course offered in the 6th spring semester. It is taught online via Google Classroom with a code of mrdj6ny. The course description explains that the class applies economic analysis to business decision making, focusing on concepts like demand, costs, profits, and competition through case studies. The course objectives are to enable students to implement economic techniques to make optimal real-world decisions and analyze data. Upon completing the course, students will be able to draw on economics to explain firm management problems and evaluate strategies for selling products in specific markets.

1. Fatima Jinnah Women University
Department of Commerce
BS Commerce
Instructor: Dr. Muhammad Jawad Instructor Email: muhammad.jawad@fjwu.edu.pk
Course Title: Managerial Economics Course Code:
Credit Hours: 03 Status: Foundation/core/elective etc.
Semester/Session: 6th Spring Google Class Code: mrdj6ny
Whatsapp +923005385014
Prerequisite: (A prerequisite means a course or other requirement that a student must have taken prior to enrolling in a specific course or program).
Course Description:
Application of economic analysis in formulating business decisions, drawing upon the theoretical foundations of the concepts of demand, cost,
production, profits, and competition, with special emphasis on case studies. Students focus on the application of economic models and rationale choice
to business decision making. Topics include an overview of managerial economics; demand and supply; costs of production and the organization of the
firm; market structure and pricing and output decisions; game theory and pricing strategies; and the economics of information and the role of
government in the marketplace.
Course Objectives:

2. This course will enable the students learn to implement the Economic and Quantitative Techniques in the world of Business and Finance. It will enable
them to make optimal decisions in real life scenario. It will also enable them to collect analysis and decipher data in real life situations. After
completing this course, students will be able to:
 List the different goals and constraints that firms face
 Apply the economic way of thinking to individual decisions and business decisions
 Use calculus (first and second order derivatives) to solve for an optimum solution
 Understand how prices get determined in markets, how market participants benefit in the form of consumer surplus and producer surplus, and
what are the consequences of government intervention
 Measure the responsiveness of consumers' demand to changes in the price of a good or service, the price of other goods and services, and
income
 Understand the different costs of production and how they affect short and long run decisions
 Derive the equilibrium conditions for cost minimization and profit maximization
 Understand economies of scale, diseconomies of scale, economies of scope, and cost complementarities, and how each affects the cost of
production
 Explain the principal-agent problem and why different forms of compensation exist
 Understand the four basic market models of perfect competition, monopoly, monopolistic competition, and oligopoly, and how price and
quantity are determined in each model
 Understand how game theory can be used to explain a number of business decisions
 Explain four different pricing practices such as discrimination, two part pricing, block pricing, commodity bundling, transfer pricing, and peak
load pricing
 Understand why there is a role for the government to play in market economies

3. Learning Outcomes:
Upon completion of this course, the student will be able to
1. Draw on economics to explain the nature of the firm and the problems of its management.
2. Analyse the problems faced by firms in their interaction with consumers and the market.
3. Evaluate strategies for successful selling of a product in a specific market situation.
4. Use the supply and demand model to analyze competitive market outcomes.
5. Use the consumer choice model to analyze consumer choices.
6. Show the basic relationships between technology, production decisions, and costs.
7. Use demand functions, cost functions, market structures, and game-theoretic concepts in the analysis of a firm’s decisions.
8. Prepare a response to a specified business problem.
9. Communicate applications of economics to managerial issues and articulate possible solutions.
10. Identify a problem and formulate a proposed solution, using high level economic reasoning.
11. Analyze how firms can use various pricing strategies to maximize profit.
12. Analyze decisions that involve risk and asymmetric information.

4. Module-wise Breakdown of leftover Course Contents for online classes
Semester
Week1
Module Content Objectives of Module Online
Activity
Resources Assignment
6 4
Indifference Curves a very
detailed concept in
Microeconomics in the
description of consumer
behavior with respect to
different changes.
Application of Indifference
Curves.
Relationship between
Indifference Curve Analysis
and Demand Curves.
The Attribute Approach to
Consumer Choice.
The Theory of Consumer
Behavior
Google
Classroom for
material and
for interactive
session on
Zoom.
Book Chapter-
Notes- PPT
Assignment- attached in
file
7 5
Definition of Production
Analysis.
Production Analysis.
Evaluate strategies for
successful selling of a
Google
Classroom for
material and
Book Chapter-
Notes- PPT
Assignment- attached in
file
1
Subject to change as per the particular course requirement.

5. The Production Function.
The Short-Run versus Long-
Run.
Production in the Short Run.
Measures of Productivity.
The Law of Diminishing
Returns.
Total Product, Average Product,
and Marginal Product.
The Optimal Level of
Employment of a Variable
Input.
The Production Function of
Multiple Variable Inputs
(Isoquants and Isocosts).
Cost Minimization (Economic
Efficiency).
Technological Changes.
product in a specific
market situation.
Prepare a response to a
specified business
problem.
for interactive
session on
Zoom.

6. 8 6
Short Run Costs.
Long Run Costs.
The Nature of Costs.
Concept of Total, Marginal,
and Average Revenues.
Elasticity and Marginal
Revenue.
Marginal Analysis.
The Rule of TR Maximization.
Cost Theory Google
Classroom for
material and
for interactive
session on
Zoom.
Book Chapter-
Notes- PPT
Assignment- attached in
file
9 7
Incremental Cost Analysis.
Relevant Costs and Irrelevant
Costs.
Profit Maximization Objective.
Shareholder Wealth-
Maximization Objective.
Not For Profit Firms
Objective.
Normal and Pure Profits.
Identify a problem and
formulate a proposed
solution, using high level
economic reasoning.
Google
Classroom for
material and
for interactive
session on
Zoom.
Book Chapter-
Notes- PPT
Assignment- attached in
file
Mid Term Evaluation

7. 11 8
Different Perspectives on
Competition.
Chamberlin‟s Resource-Based
View.
Schumpeter‟s Technology
Based View.
Nature of Industry Google
Classroom for
material and
for interactive
session on
Zoom.
Book Chapter-
Notes- PPT
Assignment- attached in
file
12 9
Market Structure.
Market Performance.
Economic Profits or Rates of
Return on Investment.
The Lerner Index.
The Industrial Organization
Model
Google
Classroom for
material and
for interactive
session on
Zoom.
Book Chapter-
Notes- PPT
Assignment- attached in
file
13 10
Perfect Competition.
Monopoly.
Monopolistic Competition.
Oligopoly.
Market Structure Google
Classroom for
material and
for interactive
session on
Zoom.
Book Chapter-
Notes- PPT
Class work will be given
14 11
Cost-Plus Pricing.
Extracting Consumer Surplus.
Pricing Practices.
Evaluate strategies for
successful selling of a
product in a specific
market situation.
Prepare a response to a
specified business
problem.
Google
Classroom for
material and
for interactive
session on
Zoom.
Book Chapter-
Notes- PPT
Assignment-attached with
folder

8. 15 12
Two-Part Tariffs.
Pricing Product Bundles.
Price Discrimination Google
Classroom for
material and
for interactive
session on
Zoom.
Book Chapter-
Notes- PPT
Assignment-attached with
folder
16 13
Strategy Definitions.
Strategy at Different Levels of a
Business.
How Strategy is Managed –
Strategic Management.
Strategic Analysis.
An Overview of Strategic
Business Concepts for
Managers
Google
Classroom for
material and
for interactive
session on
Zoom.
Book Chapter-
Notes- PPT
17 14
Ansoff Product/Market Matrix.
Strategic Choice and
Implementation.
Game Theory – A Basic
Definition, Prisoner‟s Dilemma,
and Key Concepts.
The Game Matrix, Equilibrium,
Dominant Strategies and Nash
Equilibrium.
SWOT Analysis Google
Classroom for
material and
for interactive
session on
Zoom.
Book Chapter-
Notes- PPT
Assignment-attached with
folder
18 Presentations and Revision
Final Term Evaluation

9. Outcome & Learning Grid
S.no Course Learning outcome Program Learning outcome Assessment
On successful completion of the course, you
should be able to:
This course helps you to develop the
following Program Learning Outcomes:
This learning outcome
will be assessed in the
following items:
1. Introduction to Managerial Economics Business knowledge Mid-Term Exam
Homework Assignment
2. Quantitative Demand Analysis Business knowledge Mid-Term Exam
Homework Assignment
3. Decision Making Under Risk and
Uncertainty
Problem solving Mid-Term Exam
Homework Assignment
4. The Theory of Consumer Behavior Problem solving Mid-Term Exam
Homework Assignment
5. Production Analysis Problem solving Mid-Term Exam
Homework Assignment
6. Cost Theory Problem solving Mid-Term Exam
Final Exam
Homework Assignment
7. Normal and Pure Profits Problem solving Mid-Term Exam
Final Exam
Homework Assignment
8. Nature of Industry Business communication Mid-Term Exam
Final Exam
Homework Assignment
9. The Industrial Organization Model Business communication Final Exam
Homework Assignment
10. Market Structure Business communication Final Exam
Homework Assignment
11. Pricing Practices Responsible business practice Final Exam
Homework Assignment
12. Price Discrimination Responsible business practice Final Exam

10. Homework Assignment
13. An Overview of Strategic Business
Concepts For Managers
Responsible business practice
Global and cultural competence
Final Exam
Homework Assignment
14. SWOT Analysis Responsible business practice
Global and cultural competence
Final Exam
Homework Assignment
Intended Learning Outcomes of the Course (ILOs)
(A) Through knowledge and understanding, students will be able to:
(K1) Define the economics way of thinking.
(K2) Define the main economic tools and theories available for decision making policies to stabilize and stimulate the economy.
(K3) Distinguish between the different market structures and pricing practices available to and used by firms.
(B) Through intellectual skills, students will be able to:
(I1) Critically assess and describe the environment and the main determinants of demand and competition facing the firm.
(I2) Use the tools of economic theory to explain optimal production and pricing decisions by the firm in each market structure.
(I3) Appraise some of the current and emerging issues in managerial economics at the national and international levels.
(C) Through professional and practical skills, students will be able to:
(P1) Use the tools of marginal analysis to explain the optimal allocation of resources within the firm.
(P2) Use the tools of estimation and forecasting to support decision-making.
(P3) Use game theory to define the optimal course of action a firm can take when dealing with competitors.

11. (D) Through general and transferable skills, students will be able to:
(G1) Develop analytical skills related to economic theories in business contexts.
(G2) Develop business stimulation ability.
(G3) Formulate and apply the right economic tools for business decision making.
Softcopy of course folder maintinaed and submitted in the dept. by course instructor (ppt presentations, video lectures, handouts, assignments,
evaluation rubric etc). Please make folders as per example
Folder are arranged as per lecture and each lecture comprised of at least follwing elements
1. Course material
2. Powerpoint (if applicable)
3. Zoom meeting Link
4. Assignment
5. Home work assignment for discussion
6. Link of recorded vedio lectures (from YouTube if applicable)
7. Attandance sheet
Interactive Session Schedule (real time)
Session Title Mode of delivery /Feedback from Students Date & Time*
All lectures will be interactive Zoom will be used for discussion and Q&A As per lecture schedule/time table
*Complete lecture will be recorded and provided to students upon their request.

12. Teaching Methodology
Approach to Learning and Teaching in the Course
The philosophy underpinning this course and its Teaching and Learning Strategies are based on “HEC Guidelines". Specifically, the lectures, tutorials
and assessment have been designed to appropriately challenge students and support the achievement of the desired learning outcomes. A climate of
inquiry and dialogue is encouraged between students and teachers and among students (Virtual google class).
Learning Activities and Teaching Strategies
The examinable content of the course is defined by the references given in the Lecture Schedule, the content of Lectures, and the content of the
Tutorial Program.
Lectures
The purpose of lectures is to provide a logical structure for the topics that make up the course; to emphasize the important concepts and methods of
each topic, and to provide relevant examples to which the concepts and methods are applied.
Tutorials
Tutorials are an integral part of the subject. Tutorial discussion questions and problems will build on the material discussed in lectures and discussion.
Out-of-Class Study
While students may have preferred individual learning strategies, it is important to note that most learning will be achieved outside of class time.
Lectures can only provide a structure to assist your study, and tutorial time is limited.
An “ideal” strategy (on which the provision of the course materials is based) might include:
 Reading of the relevant chapter(s) of the textbook before the lecture. This will give you a general idea of the topic area.
 Attendance at lectures. Here the context of the topic in the course and the important elements of thetopic are identified. The relevance of the
topic will be explained.

13.  Attending tutorials and attempting the tutorial questions.
Assessment Methods (Note: This can be given on the Google classroom)
In order to pass this course, you must: achieve a composite mark of at least 50 out of 100; meet any additional requirements described in the
Assessment Summary section. You are expected to attempt all assessment requirements in the course.
Evaluation Criteria
Sr. No. Evaluation Break-up Marks Percentage2
1 Assignments 10 - 15%
2 Quiz 5-10%
3 Mid-course evaluation 20 – 25 %
4 Projects (Research / Practical) 10-15%
5 Class Participation 5%
6 Final evaluation 35 – 40 %
Total 100
Apart from mid and final evaluation marks/percentage will be as per requirement of the course
Recommended Readings: (Latest available editions)
 Dominick Salvatore (2014). Managerial Economics in a global Economy, 7th Edition, Oxford University Press, USA.
 Michael R. Baye (2007). Managerial Economics and business strategy, 6th Edition, McGraw Hill.
 Peter Cassimatis (1995). Introduction to Managerial Economics, Routledge
2
Will be based on the Learning and outcome grid which each department will develop depending upon their program requirements.

14.  Pepall, L., Richards, D. and Norman, G., Industrial Organization: Contemporary Theory and Empirical Applications, 5th Edition, Wiley, 2014.
 Tirole, Jean, The Theory of Industrial Organization, The MIT Press, 1988.
 Thomas, Maurice. Managerial Economics. International Edition Latest Edition
 Evan J.Douglas Managerial economics: theory, practice, and problems Latest Edition
 Howard Davies, Pun-Lee Lam Managerial Economics: and Analysis of Business Issues Latest Edition
Course Instructions
It is expected that the students will
 register themselves on Google Classroom and download Google Meet/Hangout for interactive class lectures and discussions.
 go through and download the material provided on Google Classroom beforehand.
 come prepared to class for meaningful discussion.
 complete their assignments and submit through Google Classroom on due dates.
 present their work through Google Meet/Hangout and interact with other students.
 follow the norms of Google classroom. If during lectures or presentations they will raise hand to ask their questions or comments.
 General
 Attendance: A minimum of 75% attendance is required for successful completion of course.
 Plagiarism: Strict action may be taken against any student found guilty of submitting copied content without proper referencing.
 On-Time Submission: Students are instructed to strictly follow submission deadlines as communicated by the Instructor.
 Student Technical Support: If students have difficulty in accessing Google Classroom, they may contact the instructor through email or class
whatsapp group.
 Class Whatsapp group with the title of the course will be created prior to commencement of online classes. Any queries/questions by the students
may be posted on the whatsapp group as well as Google classroom.

15.  Specific
 An instructor may enlist instructions for students as per course requirements (Studio-based / practical).