Coming soon
Micro Economics
This course will enable the students to foster understanding of microeconomics for informed business decisions and proficiency in analyzing market structures to determine price and output levels strategically.
Course Outcomes (COs):
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Course |
Learning outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
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Course Code |
Course Title |
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25CFSG 111 |
Micro Economics (Theory) |
CO1:Examine microeconomic factors affecting business decisions, such as demand, supply, and elasticity, to interpret financial data and facilitate informed decision-making in business contexts. CO2: Evaluate consumer behavior using utility theory, incorporating indifference curves and budget constraints, to identify business opportunities and devise creative solutions to business challenges. CO3: Apply critical thinking skills to analyze production processes and cost structures, solving practical problems and suggesting strategic responses to enhance business performance. CO4: Interpret market dynamics over time, analyzing real-world trends to comprehend market conditions, and communicate insights effectively to stakeholders. CO5: Assess factors influencing production and pricing decisions, exploring contemporary approaches to factor pricing, to develop proficiency in collaborating in diverse work environments. CO6: Contribute effectively in course-specific interaction
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Approach in teaching: Interactive Lectures, Discussion, Tutorials,Power point presentation. Learning activities for the students: Self learning assignments, Seminar presentation, Live practical problems analysis |
CA test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments and Presentation. |
• Meaning and Definition, Difference between Micro and Macro Economics. Role of Micro and Macro in Business policy decision making
• Demand and Supply: Law of Demand, Determinants of Demand and Supply, expansion & contraction in Demand and Supply curve, Elasticity of Demand and Supply.
• Meaning, Characteristics of Utility. Measurement of Utility, Law of Diminishing Marginal Utility, Law of Equi-Marginal utility
• Indifference curve Approach: Meaning, Properties of Indifference curves. Budget Line. Consumer Equilibrium- Price, income, and substitution effect.
• Law of Production- Meaning of Production, Law of Variable Proportions, Returns to scale, Economies and Diseconomies of scale Equal product curves (Isoquants)
• Cost Analysis: Short-run cost curves and Long-run cost curves.
• Revenue Analysis-Concept and Types
• Classification and Features
• Price and Output determination under Perfect Competition and Monopoly, Discriminating Monopoly, Monopolistic competition, and Oligopoly- Kinked demand curve
• Factor Pricing: Marginal productivity theory of distribution.
• Modern theory of distribution: Demand & Supply of factors of production, Determination of factor price, Modern Theory of Wages and Rent.
• 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
• 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- Content:
• Managerial economics: William F. Samuelsson, Stephen G. marks http://www.mim.ac.mw/books/Samuelson%20Managerial%20Economics%207e.pdf
• UG path Shala: https://epgp.inflibnet.ac.in/Home/ViewSubject?catid=0YyNXHI8GPO8SUQIuYNt...
Reference Journals:
• Economic and Political Weekly, www.epw.in
• Indian Journal of Finance
