Micro Economics

Paper Code: 
CFSG 103
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

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: 

Course

Learning outcome (at course level)

Learning and teaching strategies

Assessment Strategies

Course Code

Course Title

 

 

 

 

 

 

 

 

 

 

25CFSG

103

 

 

 

 

 

 

 

 

 

Micro Economics (Theory)

CO 13: Analyze microeconomic factors for informed business decision-making.

CO 14: Evaluate consumer behavior using utility theory and indifference curves for identifying business opportunities.

CO 15: Apply critical thinking to analyze production processes, cost structures, and propose strategic solutions.

CO 16: Interpret market dynamics and trends to understand market conditions and communicate insights effectively.

CO 17: Assess factors influencing production and pricing decisions, and develop collaboration skills in diverse work environments.

CO 18: Contribute effectively in course-specific interaction

Approach in teaching: Interactive Lectures, Discussion, Tutorials, and PowerPoint presentations.

 

 

Learning activities for the students: Self- learning assignments, Seminar presentation.

CA test, Semester end examinations, Quiz, Assignments, and Presentations.

 

12.00

Micro Economics 12 Hours

• 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.
• Practical : Debate a business policy from micro vs. macro perspectives

12.00

• 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.
• Practical: Survey personal utility from goods to show diminishing marginal utility

12.00

Production and Cost Analysis: 12 Hours

• 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.
• Practical: Make a presentation on production and cost curves

12.00

Revenue Analysis and Market Structure 12 Hours

• 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
• Practical: Role-play firms to determine pricing and output

12.00

• 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.
• Practical: Analyze wage determination in an industry case study

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: 

• 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

Academic Year: 
2025-2026
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