Micro Economics Theory – II

Paper Code: 
BSR 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
Unit I: 
Cost Analysis

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

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:

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

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

Essential Readings: 

Essential Reading
• 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: 
2017-2018
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