Coming soon
Micro Economic Theory
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
