Economic Analysis

Paper Code: 
ATG / BSG / FSG 123
Credits: 
6
Contact Hours: 
90.00
Max. Marks: 
100.00
Objective: 
  1. Acquaint the students with the concept and theories of microeconomics
  2. Develop an understanding of the market structure for price and output decisions.

 

Course Outcomes (Cos):                                                                      

 

Course

Learning outcome (at course level)

Learning and teaching strategies

Assessment Strategies

Paper Code

Paper Title

ATG / BSG / FSG 123

Economic Analysis 

(Theory)

The students will–

CO13: Analyze the Concept of Utility and Consumer equilibrium

CO14: Examine the cost and the production function to find optimum cost and production function for a business

CO15: Evaluate the concept of demand to identify the changes in market demand.

CO16: Graphically demonstrate and interpret the equilibrium cost and output for various market structures

CO17: Examine the various market conditions to take decision on optimum profit, price and output for a firm

CO18: Integrate the concept and  theories of production interest and profit.

Approach in teaching:

 

Interactive Lectures, Discussion, Tutorials, Reading assignments, Team teaching

 

Learning activities for the students:

 

Field activities, Presentation, Giving tasks

Class test, Semester end examinations, Quiz, Solving Numerical problems in tutorials, Assignments, Class Presentation

 

17.00
Unit I: 
  • Micro Economics: Meaning and Definition, scope of micro economics Difference and Inter Dependence of Micro and Macro Economics.
  • Role of micro and macro economics in the formulation of business policy
  • Utility Approach- concept of utility, Law of Diminishing marginal utility, Law of Equi Marginal Utility

 

17.00
Unit II: 
  • Indifference Curve Approach: concept, properties of indifference curve, consumer equilibrium, price effect, income and substitution effect
  • Demand analysis: -Law of demand, elasticity of demand,: degree of elasticity, methods of measuring elasticity

 

19.00
Unit III: 
  • Cost Analysis: types of cost , short run and long run cost curves
  • Revenue: Concept and types
  • Law of Production- Meaning of Production, Law of Variable Proportions, Returns to scale, Isoquants: Properties of isoquants, isoquants and return to scale

 

17.00
Unit IV: 
  • Market: Meaning, Characteristics of Market.
  • Price and Output determination under: Perfect Competition, imperfect competition, Monopoly, Discriminating Monopoly, Oligopoly (Kinked demand curve)
  • Duopoly and Monposony- definition and features

 

20.00
Unit V: 
  • Marginal productivity theory of distribution:- Concept, price determination in perfect & imperfect market
    Interest :types of interest, Keynesian theory of interest and modern theory of interest
  • Profit: concept of profit, uncertainty theory of profit, modern theory of profit

 

Essential Readings: 
  • Somdeo, Business Economics, RBD, Jaipur
  • Mathur, N.D, Business Economics, Shivam Publication, Jaipur
  • Baumol, W J. Economic Theory and Operations Analysis.3rded,New Delhi, Prentice Hall 1996
  • Jain, Khaana, Tiwari, Modern Business Economics, V K publications
  • D. M Mithani, Managerial Economics, Himayala Publishing House
  • Dwivedi D.N, Managerial Economics, Vikas Publications, Delhi.
  • Koutsoyiannis, Modern Economics, New York, Macmillan,1991

 

Academic Year: 
2021-2022
  • Printer-friendly version
  • PDF version