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, Types of Micro
Economic Analysis. Role of Micro and Macro Economic Analysis in
Formulation of Business Policy. Difference and Inter Dependence of
Micro and Macro Economics.
Micro Economics: Meaning and Definition, Types of Micro
Economic Analysis. Role of Micro and Macro Economic Analysis in
Formulation of Business Policy. Difference and Inter Dependence of
Micro and Macro Economics.
Indifference curve Approach: Meaning, Assumptions, Properties of
Indifference curves. Budget Line. Consumer Equilibrium- Price,
income and substitution effect. . Giffen’s Paradox.
Law of Demand: Meaning, Determinants, Assumptions of the Law,
Elasticity of demand-Meaning, Degree of Elasticity. Income and Cross
Elasticity. Measurement of Price Elasticity of Demand.Law of
Supply: Meaning and Determinants
Law of Production- Meaning of Production, Law of Variable
Proportions, Returns to scale, Production and Equal product curves
(Isoquants) Least cost combination.
Somdeo, Business Economics, RBD, Jaipur
Mathur, N.D, Business Economics, Shivam Publication, Jaipur
Baumol, W J. Economic Theory and Operations Analysis.3rd ed,New Delhi, Prentice Hall 1996
Links:
[1] https://accountingtaxation.iisuniv.ac.in/courses/subjects/micro-economics-theory-%E2%80%93-i-7
[2] https://accountingtaxation.iisuniv.ac.in/academic-year/2015-2016