Week 10-11: Decision Making Under Risk and Uncertainty
Risk analysis of decision alternatives. Adjustment for risk in decision making.The expected value criterion. The standard deviation criterion. The coefficient of variation criterion.The certainty equivalent criterion. The maximum and minimum criterion. the decision tree and joint probabilities. optimal decision strategy. Limit pricing and preventing entry.
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Course Material
- Week 1-2: Nature, Scope and Overview of Managerial Economics
- Week 3-4: Demand Analysis, Estimation and Forecasting
- Week 5-6: Pricing Analysis and Decisions
- Week 7-8: Production and Cost Analysis
- Week 9: Mid Term Exam
- Week 10-11: Decision Making Under Risk and Uncertainty
- Week 12-13: Capital Budgeting and Investment
- Week 14-15: Public Sector Production and Pricing of Goods.
- Week 16-17: Managerial Theories and Models of the Firm
- Week 18: Final Exam
- Chapters 10
- Department Economic (SCB)
- Teacher
Mr. Najam ul Hassan Sial
