Coming soon
Economic Analysis
The course will enable students to -
- Acquaint the students with the concept and theories of microeconomics
- 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 |
|
|
Paper Code |
Paper Title |
|||
|
ATG / BSG / FSG 123 |
Economic Analysis (Theory) |
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 |
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
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
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
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
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
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
Dwivedi D.N, Managerial Economics, Vikas Publications, Delhi
