Economic Analysis - I

Paper Code: 
FSG 123
Credits: 
6
Contact Hours: 
90.00
Max. Marks: 
100.00
Objective: 

The objective of this course is to acquaint the students with concepts and techniques used in economic theory and to enable them to apply this knowledge in business decision-making.

20.00
Unit I: 
Micro Economics

Micro Economics: Meaning and Definition, Types of Micro
Economic Analysis. Role of Micro and Macro Economic Analysis in
Formulation of Business Policy. Difference and Inter Dependence of
Micro and Macro Economics.

20.00
Unit II: 
Cost Analysis

Cost Analysis: Real cost, Opportunity cost, Money cost, Explicit
and Implicit cost. Short run cost curves and Long run cost curves
Revenue analysis: Concept and types Law of Production- Meaning of Production, Law of Variable Proportions, Returns to scale, Production and Isoquants

20.00
Unit III: 
Market

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

20.00
Unit IV: 
Marginal productivity theory of distribution

Marginal productivity theory of distribution:- Concept, pricedetermination in perfect & imperfect market, theory of rent.

10.00
Unit V: 
Theory of Wages, Interest & Profit.

Theory of Wages, Interest & Profit.

Essential Readings: 

Somdeo, Business Economics, RBD, Jaipur
 Mathur, N.D, Business Economics, Shivam Publication, Jaipur
 Baumol, W J. Economic Theory and Operations Analysis.3 rd ed,New Delhi, Prentice
Hall 1996

References: 

Dwivedi D.N, Managerial Economics, Vikas Publications, Delhi
 Koutsoyiannis, Modern Economics, New York, Macmillan,1991
 Keat Paul G &K.Y.Young, Managerial Economics, Prentice Hall, New Jersey

Academic Year: 
2014-2015
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