Managerial Economics & Financial Accounting

Demand-types of demand, determinants of demand, demand function, elasticity of demand, demand forecasting – purpose, determinants and methods. Supply-determinants of supply, supply function, elasticity of supply.

Theory of production-production function, law of variable proportions, laws of returns to scale, production optimization, least cost combination of inputs, isoquants. Cost concepts- explicit and implicit cost, fixed and variable cost, opportunity cost, sunk costs, cost function, cost curves, cost and output decisions, cost estimation.

Perfect competition, Monopoly, Monopolistic competition, Oligopoly.

Balance sheet and related concepts, profit and loss statement and related concepts, financial ratio analysis, cash-flow analysis, funds-flow analysis, comparative financial statement, analysis and interpretation of financial statements, capital budgeting techniques.