Micro Economic Theory-II

Paper Code: 
COM 204
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

To give in-depth study of different cost concepts, markets and various aspects of theory of Factor distribution

8.00
Unit I: 
Cost Analysis and Revenue analysis

Cost Analysis: Real cost, Opportunity cost, Money cost, Explicit and Implicit cost. Short run cost curves and Long run cost curves
Revenue analysis: Concept & Types, Revenue under different market conditions

10.00
Unit II: 
General theory of price Determination

General theory of price Determination: Equilibrium of Demand and supply, Effect s of change in Demand and supply on price.
Price and Output determination under different markets: Perfect and Imperfect Competition

9.00
Unit III: 
Price and Output determination

Price and Output determination under: Monopoly, Discriminating Monopoly, Dumping and Oligopoly

9.00
Unit IV: 
Factor Pricing

Factor Pricing: Factor Pricing in perfect market, Factor Pricing in imperfect market. Marginal Productivity Theory of Distribution.
Determination of Rent: Economic Rent Vs. Contract Rent, Ricardian theory & Modern theory of Rent.

9.00
Unit V: 
Determination of Interest and Profit

Determination of Interest- Types of interest, Liquidity theory , Modern theory of interest
Determination of Profit- concept of profit, Marginal Productivity theory of profit,Modern theory of profit,

Essential Readings: 

• Somdeo, Business Economics, RBD,Jaipur
• Mathur.N.D, Business Economics,ShivamPublications,Jaipur
• Jain, Khanna and Tiwari, Modern business Economics, V.K.Enterprises, New Delhi

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
• Dipsey R.G and Cheystal, Principles of economy, Oxford university Press

Academic Year: 
2019-2020
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