The objective of this course is to give in-depth knowledge of different cost concepts, price & output determination under different markets situations, also acquaint knowledge regarding different theories of interest and Profit.
Course Outcome(COs):
Course |
Learning Outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
|
Paper Code |
Paper Title |
|||
ATG 214 |
Micro Economics Theory II |
CO58 Student will explore different types of costs involved in production and revenue generation of the producers. CO59 Student will interpret General theory of price determination and compare the price and output determination of different market structures. CO60 Student will examine price and output determination in monopoly and oligopoly markets. CO61 Student will explore the concept of factor pricing and determination of rent in economics. CO62 Student will evaluate the role of different theories of interest and Profits in economics. |
Approach in teaching: Interactive Lectures, Discussion, Tutorials, Practical cases Demonstration, Power point presentation. Learning activities for the students: Self learning assignments, Effective questions, Seminar presentation, Live practical problems analysis |
Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects, Case Study 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
• Equilibrium of Demand and supply,
• Effects of change in demand and supply on price.
• Price and Output Determination under different markets:
• Perfect and Imperfect Competition
• Monopoly, Discriminating Monopoly, Dumping and Oligopoly
Unit IV: Factor Pricing
• Factor Pricing in a perfect market,
• Factor Pricing in an imperfect market.
• Marginal Productivity Theory of Distribution.
• Determination of Rent: Economic Rent Vs. Contract Rent,
• Ricardian theory & Modern theory of Rent.
• Types of interest, Liquidity theory,
• Modern theory of interest
• Determination of Profit- Concept of profit,
• Marginal Productivity theory of profit,
• Modern theory of profit
• Somdeo, Business Economics, RBD, Jaipur
• Mathur. N.D, Business Economics, ShivamPublications, Jaipur
• Dwivedi D.N, Managerial Economics, Vikas Publications, Delhi