Micro Economic Theory-II

Paper Code: 
COM 204
Contact Hours: 
Max. Marks: 

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


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


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


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


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.


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,ShivamPublications,Jaipur
• Jain, Khanna and Tiwari, Modern business Economics, V.K.Enterprises, New Delhi


• 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: