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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