MICRO ECONOMIC THEORY II

Paper Code: 
COM 204
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

Course Outcomes

Learning and teaching strategies

Assessment Strategies

 
 

On completion of this course, the students will be able to:

 

  1.  Student will explore different types of costs involved in production and revenue generation of the producers.
  2.  Student will interpret General theory of price determination and compare the price and output determination of different market structures.
  3.  Student will examine price and output determination in monopoly and oligopoly markets.
  4.  Student will explore the concept of factor pricing and determination of rent in economics.
  5.  Student will evaluate the role of   different theories of interest and Profits in economics.

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

 

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

 

 

8.00

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

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

12.00

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

9.00

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

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 Publication, Jaipur
• Business Economics Chaudhary,C.M ,RBSA,Jaipur
• Modern Business Economics,Jain,T.R,VKI Publications
• Fundamental of Business Economics, Mithani,D.M Himalaya publication house

References: 

• Somdeo, Business Economics, RBD, Jaipur
• Mathur, N.D, Business Economics, Shivam Publication, Jaipur
• Business Economics Chaudhary,C.M ,RBSA,Jaipur
• Modern Business Economics,Jain,T.R,VKI Publications
• Fundamental of Business Economics, Mithani,D.M Himalaya publication house

Academic Year: 
2022-2023
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