Micro Economics- Practical

Paper Code: 
24CFSG112
Credits: 
2
Contact Hours: 
30.00
Max. Marks: 
100.00
Objective: 

This course will enable students to explore microeconomic principles through practical case studies. They'll analyze demand, supply, utility theory, production, cost functions, firm behavior, market organization, and factor markets to understand economic decision-making.

Course Outcomes: 

Course

Learning outcome

(at course level)

Learning and teaching strategies

Assessment Strategies

Course Code

Course

Title

 

24CFSG 112

 

Micro Economics - Practical

(Practical)

CO7: Analyze the effects of demand and supply fluctuations on market dynamics, employing intricate case studies and numerical scenarios.

CO8: Demonstrate proficiency in cardinal and ordinal utility theories, elucidating consumer preferences and surplus analysis through presentations and case studies.

CO9: Apply production and cost analysis to real-world scenarios, utilizing project work and numerical analysis to optimize least-cost combinations.

CO10: Evaluate the behavior of firms and market structures, conducting project work and revenue analysis to understand revenue maximization strategies.

CO11: Examine factor markets and pricing mechanisms, fostering ethical awareness and empathy while developing a global perspective on business practices through project work and case studies.

CO12: Contribute effectively in course-specific interaction

 

Approach in teaching:

Interactive Lectures, Discussion, Tutorials,  assignments, Learning activities for the students:                              Self learning assignments,  Seminar presentation, Live practical problems analysis

Class participation, assignments, and presentations,

 C A Test, Semester End Exams.

 

 

6.00
Unit I: 
Case Studies and Numericals of Demand and Supply

• Case studies/Numerical problems based on Application and Elasticity of demand and supply

6.00
Unit II: 
Presentation and cases on Utility Approach

• Presentation/Case studies based on cardinal utility theory & ordinal utility theory (Indifference Curve) and Consumer surplus

6.00
Unit III: 
Problems and Case Study on Production and Cost

• Project work /Case studies/Numerical based on production and cost function. Case studies on Least cost Combination

6.00
Unit IV: 
Problems and cases on Market and Revenue Ananlysis

• Project work based on Theory of firm and market organization. Numerical problems/case studies on revenue Analysis.

6.00
Unit V: 
Presentation on Factor Pricing

• Presentation/Case studies on Factor market and Factor Pricing

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: 

Suggested Readings:

• 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...
• NPTEL Video: https://youtu.be/vLPpF0hunwc
• EPWRF India Time Series, www.epwrfits.in

Reference Journals:
• Economic and Political Weekly, www.epw.in
• Indian Journal of Finance
• The Economic Challenger

Academic Year: