Course Objectives: This course will enable the students to 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 Outcomes (COs):
Course |
Learning outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
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Paper Code |
Paper Title |
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COM 204 |
Micro Economics Theory II |
CO 56 Familiarize students with the different types of costs involved in production and revenue generation of the producers. CO 57 Understand the General theory of price Determination to understand the price and output determination of different market structure. CO 58 Understand the price and output determination in monopoly and oligopoly market. CO 59 Give an insight about concept of factor pricing and determination of rent. CO 60 To enhance knowledge of students about the different theories of interest and Profit. |
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
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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, Effect s 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
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.
Types of interest, Liquidity theory , Modern theory of interest
Determination of Profit-concept of profit, Marginal Productivity theory of profit,Modern theory of profit
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