MICRO ECONOMIC THEORY II

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

Course Outcomes (COs):

Course Outcomes

Learning and teaching strategies

Assessment Strategies

On completion of this course, the students will be able to:

CO57:Student will explore different types of costs involved in production and revenue generation of the producers.

CO58:Student will interpret General theory of price determination and compare the price and output determination of different market structures.

CO59:Student will examine price and output determination in monopoly and oligopoly markets.

CO60:Student will explore the concept of factor pricing and determination of rent in economics.

CO61:Student will evaluate the role of   different theories of interest and Profits in economics.

Approach in teaching: Interactive Lectures, Discussion, Tutorials, Practical cases Demonstration, Power point presentation.    

 

Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects

 

8.00
Unit I: 
Cost Analysis:
                                                                               
• Real cost, Opportunity cost, Money cost, Explicit and Implicit cost, Short run cost curves and Long run cost curves
• Revenue analysis: Concept & Types, Revenue under different market conditions
10.00
Unit II: 
General theory of price Determination
                                 
• Equilibrium of Demand and supply, Effects of change in Demand and supply on price.
• Price and Output determination under different markets: Perfect and Imperfect Competition 
12.00
Unit III: 
Price and Output determination under:
 
• Monopoly, Discriminating Monopoly, Dumping and Oligopoly
9.00
Unit IV: 
Factor Pricing
                                                                             
• Factor Pricing in perfect market, Factor Pricing in imperfect market. Marginal Productivity Theory of Distribution.
• Determination of Rent: Economic Rent Vs. Contract Rent, Ricardian theory & Modern theory of Rent.
9.00
Unit V: 
Determination of Interest-
                                                      
• Types of interest, Liquidity theory ,Modern theory of interest
• Determination of Profit-concept of profit, Marginal Productivity theory of profit, Modern theory of profit
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: 
 
• 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-READINGS:
• Managerial economics:William F. Samulson, Stephen G. marks http://www.mim.ac.mw/books/Samuelson%20Managerial%20Economics%207e.pdf
• EPWRF India Time Series, www.epwrfits.in
 
JOURNALS:
• Economic and Political Weekly, www.epw.in
• Indian Journal of Finance
• The Economic Challenger
 
Academic Year: 
2022-2023
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