Gauhati University B.Com Syllabus: Business Economics

401: Business Economics
Marks: 80
Unit – I                                                                                                                                 10
Introduction: Basic problems of economy, meaning, nature and scope, characteristics of Business Economics, National Income and its importance in Business Economics.
Unit – II                                                                                                                                                15
Demand Analysis: Determinants of demand, concept of demand estimation and demand forecasting. Elasticity of demand - meaning measurement, determining factors and importance.
Unit-III                                                                                                                                 15
Production Function: Meaning and types of production function, laws of variable proportions, Laws of returns to scale, Iso-quants - meaning and properties, least cost combination.
Unit-IV                                                                                                                                 10
Cost Analysis: Cost concept, short run and long run cost curves, cost – output relation, modern approach of cost.

Unit-V                                                                                                                                  20
Market structure and price determination:
Perfect competition, price and output determination, importance of perfect competition.
Monopoly : Discriminating monopoly, dumping, comparison between perfect competition and monopoly.
Monopolistic competition : Price determination, excess capacity, selling costs, comparison with perfect competition and monopoly.
Oligopoly - Characteristics, price leadership, kinked demand curve.
Unit-VI                                                                                                                                                                                                 10
Factor Pricing: Need of separate theory of factor pricing, marginal productivity theory of factor pricing, concepts –Rent, wages, interest and profit. Theories of profit and profit policies..
Suggested Books:
Sampat Mukherjee, Manegerial Economics, New Central Book Agency, Kolkata-9
Ahuja H.L., Business Economics, S. Chand & Co. New Delhi.
Mithani D.M., Business Economics, Himalaya Publishing House, Mumbai.
Mehta P.L., Managerial Economics, Sultan Chand & Sons
Maheswari & Varshney, Managerial Economics, S. Chand & Co., New Delhi.
Micro Economics Theory: John P. Gould, Gr. and Edward P. Lazear- All India Traveller, Delhi.
Price Theory and its Uses- Wastow Donald S. and Getz Molcolm- Khosla Publishing House, New Delhi.
Business Economics – P.N. Chopra –Kalyani Publishers, New Delhi.
Modern Micro Economics- A Koutsorgiannis Mac Millan House, New Delhi.
 Business Economics- V.G. Mankar Mac Millan House, New Delhi.

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