Business Economics

Paper Code: 
BCS 116
Credits: 
03
Contact Hours: 
45.00
Max. Marks: 
100.00
9.00
Unit I: 
Nature and Scope of Economics

Economics: Definition, Nature and Scope of Economics; Micro and Macro Economics; Positive and Normative Economics; Central Problems of an Economy, Production Possibility Curve and Opportunity Cost; Working of Economic Systems (Capitalistic Economy, Socialistic Economy, Mixed Economy); Economic Cycles, Inflation and Recession.

 

9.00
Unit II: 
Theory of Demand and Supply

Utility Analysis- Total Utility and Marginal Utility; Law of Diminishing Marginal Utility; Law of Equi-Marginal Utility; Consumers’ Equilibrium; Law of Demand and Elasticity of Demand; Law of Supply, Elasticity of Supply; Demand and Supply Equilibrium; Theory of Consumer Behaviour – Marshallian Approach and Indifference Curve Approach

Theory of Production, Costs and Revenue: Meaning of Factors of Production; Returns to Factor and Returns to Scale; Cost Concepts and Cost Curves; Revenue Concepts and Revenue Curves; Producers Equilibrium

9.00
Unit III: 
• Forms of Market and its Equilibrium

Forms of Market- meaning and characteristics; Price and Output Determination- Equilibrium for Firm and Industry under Perfect Competition, Monopoly and Monopolistic Competition.

9.00
Unit IV: 
Basic characteristics of Indian Economy

-    Development Initiative through Five Year Plans

-    Agriculture

Causes of Low Productivity

Farm Size Productivity Debate

Land Reforms: Meaning, Importance and Evalution

Green Revolution and its effects

Globalisation and Indian Agriculture

Industry

Development Policies and Experience

Industrial Policy Resolutions

New Industrial Policy 1991

Select Areas of Indian Economy

Population – Its Size, Rate of Growth and its implication for Growth

Poverty- Absolute and Relative Poverty and Main Programs for Poverty Alleviation

Unemployment- Types, Causes and incidence of Unemployment

Infrastructure- Energy, Transportation, Communication, Health and Education

9.00
Unit V: 
• Money and Banking

Concept of Money – Its Functions; Quantity Theory of Money; Credit Creation

Central Bank (Reserve Bank of India) – Role and Functions

Commercial Banks – role and functions; Monetary Policy in India

References: 
  1. Study Material Issued by ICSI
  2. Scanner-Arun Kumar(Suchitra Prakashans)
  3. Jain, Khanna and Tiwari, Modern business Economics, V.K.Enterprises, New Delhi
  4. Dwivedi D.N, Managerial Economics, Vikas Publications, Delhi
  5. Koutsoyiannis, Modern Economics, New York, Macmillan,1991
  6. Keat Paul G & K.Y.Young, Managerial Economics, Prentice Hall, New Jersey
  7. Dipsey R.G and Cheystal, Principles of economy, Oxford university Press

 

Academic Year: