Micro Economic Theory-II

Paper Code: 
FMG 214
Objective: 

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

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

Unit II: 

Market: Meaning, Characteristics of Market, classification Of Market, Market Structure. Perfect competition- Characteristics. Monopoly Characteristics. Imperfect Competition- Different Forms of Imperfect Competition( Oligopoly & Duopoly- Meaning.)

Unit III: 

Price and Output determination under: Perfect Competition, Monopoly, Discriminating Monopoly, Monopolistic Competition.

Unit IV: 

Oligopoly: Concept, Non Collusive oligopoly: Chamberlin Model: Kinked Demand Model, Collusive Oligopoly: Cartels; Price Leadership

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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