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MICRO ECONOMIC THEORY II [1]

Paper Code: 
BSR 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: 

 

SUGGESTED READINGS:

  • 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:

 

JOURNALS:

  • Economic and Political Weekly, www.epw.in [6]
  • Indian Journal of Finance
  • The Economic Challenger

 

 

Academic Year: 
2022-2023 [7]

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Source URL: https://business.iisuniv.ac.in/courses/subjects/micro-economic-theory-ii-16

Links:
[1] https://business.iisuniv.ac.in/courses/subjects/micro-economic-theory-ii-16
[2] http://www.mim.ac.mw/books/Samuelson%20Managerial%20Economics%207e.pdf
[3] https://epgp.inflibnet.ac.in/Home/ViewSubject?catid=0YyNXHI8GPO8SUQIuYNtTA==
[4] https://youtu.be/vLPpF0hunwc
[5] http://www.epwrfits.in
[6] http://www.epw.in
[7] https://business.iisuniv.ac.in/academic-year/2022-2023