Coming soon
Micro Economic Analysis
This course will enable the students to acquaint students with the concepts and theories of microeconomics, and develop their understanding of market structures for making price and output decisions.
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Course |
Learning outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
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Course Code |
Course Title |
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24 FSG123 |
Micro Economic Analysis (Theory) |
CO13 Analyze the Concept of Utility and Consumer equilibrium CO14 Evaluate the concept of demand to identify the changes in market demand. CO15 Examine optimum cost and production function for a business CO16 Examine the various market conditions to take decision on optimum profit, price and output for a firm. CO17 Integrate the concept and theories of production interest and profit. CO18 Contribute effectively in course-specific interaction
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Approach in teaching:
Interactive Lectures, Discussion, Case Studies
Learning activities for the students:
Field activities, Presentation, Debates, Role-Playing |
Class test, Semester end examinations, Quiz, Solving Numerical problems in tutorials, Assignments, Class Presentation |
• Micro Economic Fundamentals: Meaning and Definition, scope of micro economics Difference and Inter Dependence of Micro and Macro Economics.
• Role of micro and macroeconomics 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 Monopsony- 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
1. Somdeo, Business Economics, RBD, Jaipur
2. Mathur, N.D, Business Economics, Shivam Publication, Jaipur
3. Baumol, W J. Economic Theory and Operations Analysis.3rded,New Delhi, Prentice Hall 1996
4. D. M Mithani, Managerial Economics, Himayala Publishing House
5. Dwivedi D.N, Managerial Economics, Vikas Publications, Delhi.
6. Jain, Khanna, Tiwari, Modern Business Economics, V K publications
1. Koutsoyiannis, Modern Economics, New York, Macmillan,1991
2. Dornbusch, R. and S., Fischer. Macro Economics . Publisher Tata McGraw Hill
3. Mankiw, N. Gregory. Macro Economics. Macmillan.
4. Oliver, Blanchard. Macro Economics, Pearson Education, LPE.
5. Damodaran,Suma,Managerial Economics, ,Oxford university press
6. Managerial Economics : A problem Solving approach,Cengage learning
E- Resources:
1. Managerial economics:William F. Samulson, Stephen G. marks
2. UG pathshala: https://epgp.inflibnet.ac.in/Home/ViewSubject?catid=0YyNXHI8GPO8SUQIuYNt...
3. NPTEL Video:https://youtu.be/vLPpF0hunwc
4. EPWRF India Time Series, www.epwrfits.in
5. https://www.economicsonline.co.uk/
6. https://www.publicationsdivision.nic.in/journals/
7. Economic and Political Weekly, www.epw.in
8. Studies in Microeconomics, Sage Journal Publication
9. Microeconomics and Macroeconomics, Scientific and Academic Publishing
10. Economics, De Gruyter Open Access
11. International Journal of Economics and Business Research, Inderscience Publishers
