Economic Analysis

Paper Code: 
ATG/BSG/FSG -123
Credits: 
6
Contact Hours: 
90.00
Max. Marks: 
100.00
Objective: 

The course will enable students to -

 

 

  1. Acquaint the students with the concept and theories of microeconomics
  2. Develop an understanding of the market structure for price and output decisions.

 

COURSE OUTCOMES (Cos)

 

Course

Learning outcome (at course level)

Learning and teaching strategies

Assessment Strategies

Paper Code

Paper Title

ATG / BSG / FSG 123

Economic Analysis 

(Theory)

The students will be able to –

 

CO11: Understand and describe Concept of Utility and Consumer equilibrium, 

CO12: Gain insight about the concept of cost and the production function 

CO13: Identify the determinants of demand and demonstrate the impact of shifts in market demand demands.

CO14: Comprehend the market structures by characteristics; graphically present the profit maximizing price and output decision analysis.

CO15: Extend knowledge on the theories of production, interest and profit.

Approach in teaching:

 

Interactive Lectures, Discussion, Tutorials, Reading assignments, Team teaching

 

Learning activities for the students:

 

Field activities, Presentation, Giving tasks

Class test, Semester end examinations, Quiz, Solving Numerical problems in tutorials, Assignments, Class Presentation

 

 

17.00
Unit I: 
.

• Micro Economics: Meaning and Definition, scope of micro economics Difference and Inter Dependence of Micro and Macro Economics.
• Role of micro and macro economics in the formulation of business policy
• Utility Approach- concept of utility, Law of Diminishing marginal utility, Law of Equi Marginal Utility

17.00
Unit II: 
.

• Indifference Curve Approach: concept, properties of indifference curve, consumer equilibrium, price effect, income and substitution effect
• Demand analysis: -Law of demand, elasticity of demand,: degree of elasticity, methods of measuring elasticity

19.00
Unit III: 
.

• Cost Analysis: types of cost , short run and long run cost curves
• Revenue: Concept and types
• Law of Production- Meaning of Production, Law of Variable Proportions, Returns to scale, Isoquants: Properties of isoquants, isoquants and return to scale

17.00
Unit IV: 
.

• Market: Meaning, Characteristics of Market.
• Price and Output determination under: Perfect Competition, imperfect competition, Monopoly, Discriminating Monopoly, Oligopoly (Kinked demand curve)
• Duopoly and Monposony- definition and features

2.00
Unit V: 
.

• Marginal productivity theory of distribution:- Concept, price determination in perfect & imperfect market
Interest :types of interest, Keynesian theory of interest and modern theory of interest
• Profit: concept of profit, uncertainty theory of profit, modern theory of profit

Essential Readings: 
  • Somdeo, Business Economics, RBD, Jaipur 
  • Mathur, N.D, Business Economics, Shivam Publication, Jaipur
  • Baumol, W J. Economic Theory and Operations Analysis.3rd ed,New Delhi, Prentice Hall 1996.

 

References: 
  • Dwivedi D.N, Managerial Economics, Vikas Publications, Delhi
  • Koutsoyiannis, Modern Economics, New York, Macmillan,1991
  • Keat Paul G &K.Y.Young, Managerial Economics, Prentice Hall, New Jersey.

 

Academic Year: 
2019-2020
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