Managerial Economics | Theory of Cost | Free Online Course | Alison
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Managerial Economics - Theory of Costs

Managerial Economics - Theory of Costs is a free online certificate course about the various categories of costs.

Economics
Free Course
This free online course in Managerial Economics - Theory of Costs will teach you the main concepts of cost starting from the various categories of cost, through the short-run and long-run analyses, to the Economies of Scale. You will learn about fixed costs and variable costs. You will also learn about the learning curve and the limits of the break-even analysis. You will also be taught about large scale production.
  • Duration

    4-5 Hours
  • Certification

    Yes
  • Mobile Friendly

    Yes
  • Publisher

    NPTEL
  • Accreditation

    CPD

Description

Modules

Outcome

Certification

View course modules

Description

In this course in Managerial Economics - Theory of Costs, various categories of production costs will be covered, along with short-run and long-run analyses. The Break-even Analysis and Economies of Scale will be addressed. First, you will be introduced to the costs used for accounting purposes and costs used in economic analyses. You will learn about fixed costs and variable costs. You will also learn about the total average and the marginal cost of production.

Next, you will be taught about the contribution analysis and the profit volume ratio. The margin of safety and the learning curve will also be covered. The limits of the break-even analysis will also be addressed. You will then be taught how large scale production results in lower unit cost and the accruing advantages. By the end of this course, the various categories of Economies of Scale will be highlighted.

This course covers all aspects of the Theory Costs, ranging from the various categories of production to the Economies of scale, via short-run and long-run analyses. It will be of great interest to commercial managers of large businesses. Students studying in the sector of the commercial field will find this course particularly interesting.  Why wait? Start this course today and gain a better understanding and knowledge of the Theory of Costs.

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Learning Outcomes

Upon successful completion of this course, you will be able to:


  • Discuss the Theory of Costs
  • Distinguish between the various categories of costs
  • Contrast the short-run costs to the long-run costs
  • Explain the break-even analysis
  • Define the Economies of Scale
  • Distinguish between the various costs used for accounting purposes
  • List the various categories of real economies
  • Explain the accruing advantages of large scale production
  • List the various categories of Economies of Scale

Certification

All Alison courses are free to enrol, study and complete. To successfully complete this Certificate course and become an Alison Graduate, you need to achieve 80% or higher in each course assessment. Once you have completed this Certificate course, you have the option to acquire an official Certificate, which is a great way to share your achievement with the world. Your Alison Certificate is:

Ideal for sharing with potential employers - include it in your CV, professional social media profiles and job applications
An indication of your commitment to continuously learn, upskill and achieve high results
An incentive for you to continue empowering yourself through lifelong learning

Alison offers 3 types of Certificates for completed Certificate courses:

Digital Certificate - a downloadable Certificate in PDF format, immediately available to you when you complete your purchase
Certificate - a physical version of your officially branded and security-marked Certificate, posted to you with FREE shipping
Framed Certificate - a physical version of your officially branded and security-marked Certificate in a stylish frame, posted to you with FREE shipping

All Certificates are available to purchase through the Alison Shop. For more information on purchasing Alison Certificates, please visit our FAQs. If you decide not to purchase your Alison Certificate, you can still demonstrate your achievement by sharing your Learner Record or Learner Achievement Verification, both of which are accessible from your Dashboard. For more details on our Certificate pricing, please visit our Pricing Page.

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