This course will enable students to grasp key concepts in microeconomics, including demand, supply, utility theory, production, cost analysis, revenue, market structures, price determination, and factor pricing, enhancing their understanding for business decision-making.
Course |
Course Outcomes (at course level) |
Learning and teaching strategies |
Assessment Strategies |
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Course Code |
Course Title |
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24EBSG116 |
Business Economics (Theory)
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CO31: Explore the role of Micro Economics in business decisions and interpret the role of Micro and Macro Economics in decision-making. Students will analyze the law of demand and supply and develop an understanding of various types of elasticity of demand and supply CO32: Examine the utility approach. Students will evaluate the concept of the indifference curve and budget line for making consumer choices in different situations CO33: Evaluate the concept of production and cost analysis in different time periods and also examine the practical approach of cost analysis through various practical problems CO34: Analyse the different market conditions taking the time element into consideration. Also able to interpret the market situation with real-world business trends. CO35: Analyse different factors of production and its pricing policy. Students can also examine the modern approaches to factor pricing. CO36: Contribute effectively in course-specific interaction |
Approach in teaching: Interactive Lectures, Discussion, Practical cases Demonstration, Power point presentation.
Learning activities for the students: Self-learning assignments, Effective questions, Seminar presentation, Live practical problems analysis |
Presentation, Report writing |
Meaning and Definition, Scope and Role of business economy in formulation of business policy
Demand and Supply: Law of Demand, Determinants of demand, expansion & contraction in demand curve,Elasticity of demand, Law of Supply.
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