Micro Economic Theory-II

Paper Code: 
BSG 214
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

To give in-depth study of different cost concepts, markets and various aspects of theory of Factor distribution.

10.00
Cost Analysis

Real cost, Opportunity cost, Money cost, Explicit and Implicit cost. Short run cost curves and Long run cost curves. Revenue analysis: Concept and types.

 

10.00
Unit II: 
General Theory of Price Determination

Equilibrium of Demand and supply, Effect s of change in Demand and supply on price.
Role of Time element in Price Determination: Price determination under very short, short period and long run. Difference between Market price and Normal Price.

 

7.00
Unit III: 
Market

Meaning, Characteristics of Market, Classification of Market Price and Output determination under: Pure & Perfect Competition and Monopoly,

 

8.00
Unit IV: 
Price and Output Determination Under

Discriminating Monopoly, Dumping, Monopolistic competition and Oligopoly- Perfect collusion, Independent pricing ( Kinked Demand Model).

 

10.00
Unit V: 
Factor Pricing

Factor Pricing in perfect market, Factor Pricing in imperfect market. Marginal Productivity Theory of Distribution

 

Essential Readings: 

Somdeo, Business Economics, RBD,Jaipur
Mathur.N.D, Business Economics,Shivam Publications,Jaipur
Jain, Khanna and Tiwari, Modern business Economics, V.K.Enterprises, New Delhi

References: 

Dwivedi D.N, Managerial Economics, Vikas Publications, Delhi
Koutsoyiannis, Modern Economics, New York, Macmillan,1991
Keat Paul G & K.Y.Young, Managerial Economics, Prentice Hall, New Jersey
Dipsey R.G and Cheystal, Principles of economy, Oxford university Press

Academic Year: 
2015-2016
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