Business Economics

Paper Code: 
BCS 116
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
9.00

• 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

• 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

• 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

• 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

• 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: 
2016-2017
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