Economics notes pdf

Economics notes outline and the notes in pdf highlighted here. Economics unit is examinable by Kenya national examination council KNEC and is mainly taught in various courses highlighted below;

Diploma in secretarial studies
Diploma in sales and marketing
Diploma in supply chain management
Diploma in business management
Diploma in road transport management
Diploma in cooperative management
Diploma in investment
Diploma in human resource management

ECONOMICS UNIT:

A close interrelationship between management and economics had led to the development of managerial economics. Economic analysis is required for various concepts such as demand, profit, cost, and competition. In this way, managerial economics is considered as economics applied to “problems of choice’’ or alternatives and allocation of scarce resources by the firms.

ECONOMICS TOPICS COVERED

Managerial economics overview
Economic analysis and optimization
Demand forecasting
Theory of production
Cost and breakeven analysis
Market structure and pricing decisions
Capital budgeting
Macroeconomic aspects
Business cycles and stabilization
Inflation and its control measures

Managerial economics overview

This topic trainees will learn; managerial economics definition, micro macro and managerial economic relationship, nature and scope of managerial economics and role in managerial decision making.

Economic analysis and optimization

This topic trainees will learn; optimization analysis, total revenue and total cost approach and marginal revenue and marginal cost approach.

Demand forecasting

This topic trainees will learn; market systems and equilibrium, demand forecasting, changes in demand, concept of elasticity, elasticity of demand, cross elasticity of demand, total revenue and marginal revenue.

Theory of production

This topic trainees will learn; function of theory of production, production analysis, cost function and law of variable proportions.

Cost and breakeven analysis

This topic trainees will learn; cost concepts, future and past costs, increment and sunk costs, types of costs, types of cost, determinant of costs, short-run cost output relationship, long-run cost output relationship, economies and diseconomies of scale, contribution and breakeven analysis and breakeven chart.

Market structure and pricing decisions

This topic trainees will learn; pricing strategies, multiple products, full cost pricing method, marginal cost pricing method, transfer pricing, dual pricing, price effect, substitution effect and income effect.

Capital budgeting

This topic trainees will learn; investment under certainty, and investment under uncertainty

Macroeconomic aspects

This topic trainees will learn; macroeconomic basics, circular flow model of economy, national income and measurement, national income determination and modern theories of economic growth.

Business cycles and stabilization

This topic trainees will learn; theories of business cycles, stabilization policies and instruments of stabilization policies.

Inflation and its control measures

This topic trainees will learn; inflation, causes of inflation, measures to control inflation and impact of inflation on managerial decision making.

ECONOMICS KNEC PAST PAPERS

ECONOMICS NOTES (PDF) For short simplified and comprehensive notes examined by KNEC contact your business department or ECONOMICS lecturer.

FREE KNEC PAST PAPERS PDF FORMAT:

COURSE NOTES