MICRO ECONOMIC THEORY II

Paper Code: 
FSG 214
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:

 

CO57  Student will explore different types of costs involved in production and revenue generation of the producers.

CO58  Student will interpret General theory of price determination and compare the price and output determination of different market structures.

CO59  Student will examine price and output determination in monopoly and oligopoly markets.

CO60  Student will explore the concept of factor pricing and determination of rent in economics.

CO61  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
Unit I: 
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

· 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
Unit III: 
Price and Output determination under:

· Monopoly, Discriminating Monopoly, Dumping and Oligopoly

9.00
Unit IV: 
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-

· 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: 

SUGGESTED READINGS:

· Business Economics Ahuja, H.L,s.chand&company ltd

· Business Economics-I (Micro)Chaturvedi D.D, brijwasi books distributers and publication

· Dwivedi D.N, Managerial Economics, Vikas Publications, Delhi

· Business Economics,Gillespie,Andrew

· Managerial Economics,Damodaran,Suma,oxford university press

· Managerial Economics : A problem Solving approach,Wilkinson, cengage learning.

 

E-READINGS:

· Managerial economics:William F. Samulson, Stephen G. marks http://www.mim.ac.mw/books/Samuelson%20Managerial%20Economics%207e.pdf

· UG pathshala:  https://epgp.inflibnet.ac.in/Home/ViewSubject?catid=0YyNXHI8GPO8SUQIuYNt...

· NPTEL Video:https://youtu.be/vLPpF0hunwc

· EPWRF India Time Series, www.epwrfits.in

 

JOURNALS:

· Economic and Political Weekly, www.epw.in

· Indian Journal of Finance

· The Economic Challenger

Academic Year: 
2022-2023
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