Economic Analysis

Paper Code: 
ATG/ BSG/ FSG 123
Credits: 
6
Contact Hours: 
90.00
Max. Marks: 
100.00
Objective: 

The course will enable students to -

  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 be able to –

 

CO11: Understand and describe Concept of Utility and Consumer equilibrium, 

CO12: Gain insight about the concept of cost and the production function 

CO13: Identify the determinants of demand and demonstrate the impact of shifts in market demand demands.

CO14: Comprehend the market structures by characteristics; graphically present the profit maximizing price and output decision analysis.

CO15: Extend knowledge on the 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
References: 
  • Dwivedi D.N, Managerial Economics, Vikas Publications, Delhi
  • Koutsoyiannis, Modern Economics, New York, Macmillan,1991
Academic Year: 
2019-2020
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