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Tuesday, June 26, 2018


Dibrugarh University
Syllabus for B.COM Programme
Under Directorate of Distance Education
1st Year
Course No: B. Com. 105: BUSINESS ECONOMICS
Total Marks: 90
Objectives: This course is meant to acquaint the learners with the principles of Business Economics as are applicable in the business.

Block I: Basic concept of business economics:                                                    18
Basic Concepts: Basic problems of an Economy; Working of Price Mechanism; Elasticity of Demand: Concept and Measurement of Elasticity of Demand; Price; Income and Cross Elasticity; Average Revenue, Marginal Revenue; and Elasticity of Demand; Determinants of Elasticity of Demand; Importance of Elasticity of Demand.

Block II: Production Function:                                                                                    18
Production function: Laws of Variable Proportions; Isoquants; Economic Regions and Optimum factor combination; Expansion Path; Return to scale; Internal and External Economies and diseconomies; Ridgelines; Theory of costs; Short run; Long run cost curves; Traditional and Modern Approaches.

Block III: Market Structures:                                                                                       18
Market Structure: Business Decisions; Objectives of Business Firm; Perfect Competition: Profit Maximization and equilibrium of firm and industry; Short run and Long run supply curves; Price and output determination.
Monopoly: Determination of price under the Monopoly; Equilibrium of a Firm; Perfect Competition; and Monopoly; Multi-plant monopoly; Price Oligopoly: Characteristics: Indeterminate Pricing and Output; Classical models of Oligopoly; Price Leadership; Collusive Oligopoly; Kinked Demand Curve.

Block IV: Factor Pricing I                                                                                               18
Marginal Productivity Theory and demand for factors; Nature of Supply of factor inputs; Determination of wage rates under perfect competition and monopoly; Exploitation of labour; Rent-concepts; Recardian and modern theories of rent; Quasi rent.

Block V: Factor Pricing II
Interests – Concept and theories of interest; profit-nature, concepts, and theories of profit.
Suggested Readings:
1.       John P. Gould; Jr. and Edward P. Lazear: Macro-economic Theory; All India Traveller; Delhi.
2.       Browing Edger K. and Browing Jacquelence M: Microeconomic Theory and Applications; Kalyani; New Delhi.
3.       Watson Donald S. and Getz Molcolm: Price Theory and Its uses; Khosla Publishing House, New Delhi.
4.       Koutsoyianni A.: Modern Microeconomics; Macmillian, New Delhi.
5.       Richard  G lipsey: A Introduction to Positive Economics; ELBS, Oxford.
6.       Stigler G.: The Theory of Price; Pentice Hall of India, New Delhi.
7.       Ferguson P.R. and Rothschild R. and Ferguson G.J.: Business Economics; Macmillian, Hampshire.
8.       Nellis & Parker: The Essence of Business Economics; Pentice Hall of India, New Delhi.
9.       Ahuja H.L.: Business Economics; S. Chand & Co., New Delhi.

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