Micro Economic Theory-II

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

To give in-depth study of different cost concepts, markets and various aspects of theory of Factor distribution

10.00
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 and types

10.00
Unit II: 

General theory of price Determination: Equilibrium of Demand and supply, Effect s of change in Demand and supply on price.

Role of Time element in Price Determination: Price determination under very short, short period and long run. Difference between Market price and Normal Price.

7.00
Unit III: 

Market: Meaning, Characteristics of Market, Classification Of Market

Price and Output determination under:  Pure & Perfect Competition and Monopoly,

8.00
Unit IV: 

Price and Output determination under : Discriminating Monopoly, Dumping, Monopolistic competition and Oligopoly- Perfect collusion, Independent pricing ( Kinked Demand Model).

10.00
Unit V: 

Factor Pricing: Factor Pricing in perfect market, Factor Pricing in imperfect market. Marginal Productivity Theory of Distribution.

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: 
2018-2019
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