The objective of this course is to acquaint the students with concepts and techniques used in economic theory and to enable them to apply this knowledge in business decision-making.
Meaning and Definition, Types of Micro Economic Analysis. Role of Micro and Macro Economic Analysis in Formulation of Business Policy. Difference and Inter Dependence of Micro and Macro Economics.
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
Law of Production- Meaning of Production, Law of Variable Proportions, Returns to scale, Production and Isoquants
Market: Meaning, Characteristics of Market.
Price and Output determination under: Perfect Competition, Monopoly, Discriminating Monopoly, Oligopoly (Kinked demand curve)
Duopoly and Monopsony- defination and features
Concept, price determination in perfect & imperfect market, theory of rent.
• Somdeo, Business Economics, RBD, Jaipur
• Mathur, N.D, Business Economics, Shivam Publication, Jaipur
• Baumol, W J. Economic Theory and Operations Analysis.3rd ed,New Delhi, Prentice Hall 1996
• 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
Links:
[1] https://business.iisuniv.ac.in/courses/subjects/economic-analysis-i-0
[2] https://business.iisuniv.ac.in/academic-year/2018-2019