Coming soon
Micro Economic Theory I
The objective of this course is to acquaint the students with concepts and techniques used in Micro-economic theory and to enable them to apply this knowledge in business decision-making.
Micro Economics: Meaning and Definition, Role of Micro and Macro Economic Analysis in Formulation of Business Policy. Difference and Inter Dependence of Micro and Macro Economics
Utility Approach: Meaning and Definition of Utility. Measurement of Utility. Total Utility and Marginal Utility. Law of Diminishing Marginal Utility. Indifference curve Approach: Meaning, Properties of Indifference curves. Budget Line. Consumer Equilibrium- Price and income effect. Giffen’s Paradox.
Law of Demand: Meaning, Assumptions of the Law, Elasticity of demand, Degree of price Elasticity. Measurement of Price Elasticity of Demand. Law of Supply: Meaning and Determinants of supply.
Market: Meaning, Characteristics of Market Price and Output determination under: Perfect Competition and Imperfect competition. Monopoly.
Cost Analysis: Real cost, Opportunity cost, Money cost, Explicit and Implicit cost. Short run cost curves long run curves. Law of Production- Meaning of Production, Law of Variable Proportions and Returns to scale.
Somdeo, Business Economics, RBD,Jaipur Mathur.N.D, Business Economics,Shivam Publications,Jaipur Jain, Khanna and Tiwari , Modern business Economics, V.K.Enterprises, New Delhi
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 Dipsey R.G and Cheystal, Principles of economy, Oxford university Press
