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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