Economic Analysis

Paper Code: 
ATG/BSG/FSG/MMC/MED 123
Credits: 
6
Contact Hours: 
90.00
Max. Marks: 
100.00
Objective: 

 The course will enable the students to -

  1. Acquaint the students with the concept and theories of microeconomics
  2. Develop an understanding of the market structure for price and output decisions.

Course Outcomes (COs):

Course

Learning outcome (at course level)

Learning and teaching strategies

Assessment Strategies

PaperCode

Paper Title

ATG / BSG / FSG 123

Economic Analysis 

The students will be able to –

CO11. Understand and describe Concept of Utility and Consumer equilibrium, 

CO12. Gain insight about the concept of cost and the production function 

CO13. Identify the determinants of demand and demonstrate the impact of shifts in market demand demands.

CO14.Comprehend the market structures by characteristics; graphically present the profit maximizing price and output decision analysis.

CO15.Extend knowledge on the theories of production, interest and profit.

Approach in teaching:

Interactive Lectures, Discussion, Tutorials, Reading assignments, Team teaching

 

Learning activities for the students:

Field activities, Presentation, Giving tasks

Class test, Semester end examinations, Quiz, Solving Numerical problems in tutorials, Assignments, Class Presentation

 

 
17.00

Micro Economics: Meaning and Definition, scope of micro economics Difference and Inter Dependence of Micro and Macro Economics. Role of micro and macro economics in the formulation of business policy
Utility Approach- concept of utility, Law of Diminishing marginal utility, Law of Equi Marginal Utility

17.00

Indifference Curve Approach: concept, properties of indifference curve, consumer equilibrium, price effect, income and substitution effect
Demand analysis: -Law of demand, elasticity of demand,: degree of elasticity, methods of measuring elasticity

19.00

Cost Analysis: types of cost , short run and long run cost curves
Revenue: Concept and types
Law of Production- Meaning of Production, Law of Variable Proportions, Returns to scale, Isoquants: Properties of isoquants, isoquants and return to scale

17.00

Market: Meaning, Characteristics of Market.
Price and Output determination under: Perfect Competition, imperfect competition, Monopoly, Discriminating Monopoly, Oligopoly (Kinked demand curve)
Duopoly and Monposony- definition and features

20.00

Marginal productivity theory of distribution:- Concept, price determination in perfect & imperfect market
Interest :types of interest, Keynesian theory of interest and modern theory of interest
Profit: concept of profit, uncertainty theory of profit, modern theory of profit

Essential Readings: 

• Somdeo, Business Economics, RBD, Jaipur
• Mathur, N.D, Business Economics, Shivam Publication, Jaipur
• Baumol, W J. Economic Theory and Operations Analysis.3rded,New Delhi, Prentice Hall 1996
• Jain, Khaana, Tiwari, Modern Business Economics,V K publications
• D. M Mithani, Managerial Economics, Himayala Publishing House

References: 

• Dwivedi D.N, Managerial Economics, Vikas Publications, Delhi
• Koutsoyiannis, Modern Economics, New York, Macmillan,1991

Academic Year: 
2019-2020
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