Micro Economic Theory-II

Paper Code: 
FSG 214
Credits: 
03
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

Course Objectives:

The objective of this course is to give in-depth knowledge of different cost concepts, price & output determination under different markets situations, also acquaint knowledge regarding different theories of interest and Profit.

 

Course Outcome(COs):

Course

Learning Outcome

 (at course level)

Learning and teaching strategies

Assessment Strategies

Paper Code

Paper Title

FSG 214

Micro Economics Theory II

CO58. Familiarize students with the different types of costs involved in production and revenue generation of the producers.

CO59. Understand the General theory of price Determination to understand the price and output determination of different market structure.

CO60. Understand the price and output determination in monopoly and oligopoly market.

CO61. Give an insight about concept of factor pricing and determination of rent.

CO62. To enhance knowledge of students about the different theories of interest and Profit.

Approach in teaching: Interactive Lectures, Discussion, Tutorials, Practical cases Demonstration, Power point presentation.    

 Learning activities for the students:                              Self learning assignments, Effective questions, Seminar presentation, Live practical problems analysis

Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects, Case Study Analysis

 

 

 

 

 

 

 

 

 

 

8.00
Unit I: 
Cost Analysis & Revenue 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 & Types, Revenue under different market conditions

10.00
Unit II: 
General theory of price Determination & Price and Output determination under different markets

General theory of price Determination: Equilibrium of Demand and supply, Effect s of change in Demand and supply on price.
Price and Output determination under different markets: Perfect and Imperfect Competition

9.00
Unit III: 
Price and Output determination

Price and Output determination under: Monopoly, Discriminating Monopoly, Dumping and Oligopoly

9.00
Unit IV: 
Factor Pricing & Determination of Rent

Factor Pricing: Factor Pricing in perfect market, Factor Pricing in imperfect market. Marginal Productivity Theory of Distribution.
Determination of Rent: Economic Rent Vs. Contract Rent, Ricardian theory & Modern theory of Rent.

9.00
Unit V: 
Determination of Interest & Determination of Profit

Determination of Interest- Types of interest, Liquidity theory , Modern theory of interest
Determination of Profit- concept of profit, Marginal Productivity theory of profit, Modern theory of profit

Essential Readings: 

• Somdeo, Business Economics, RBD,Jaipur
• Mathur.N.D, Business Economics,Shivam Publications,Jaipur
• Jain, Khanna and Tiwari, Modern business Economics, V.K.Enterprises, New Delhi

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
• Dipsey R.G and Cheystal, Principles of economy, Oxford university Press

Academic Year: 
2020-2021
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