This course will enable the students to foster understanding of microeconomics for informed business decisions and proficiency in analyzing market structures to determine price and output levels strategically.
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Course |
Learning outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
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Course Code |
Course Title |
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25CFSG 103 |
Micro Economics (Theory) |
CO 13: Analyze microeconomic factors for informed business decision-making. CO 14: Evaluate consumer behavior using utility theory and indifference curves for identifying business opportunities. CO 15: Apply critical thinking to analyze production processes, cost structures, and propose strategic solutions. CO 16: Interpret market dynamics and trends to understand market conditions and communicate insights effectively. CO 17: Assess factors influencing production and pricing decisions, and develop collaboration skills in diverse work environments. CO 18: Contribute effectively in course-specific interaction |
Approach in teaching: Interactive Lectures, Discussion, Tutorials, and PowerPoint presentations.
Learning activities for the students: Self- learning assignments, Seminar presentation. |
CA test, Semester end examinations, Quiz, Assignments, and Presentations. |
• Meaning and Definition, Difference between Micro and Macro Economics. Role of Micro and Macro in Business policy decision making
• Demand and Supply: Law of Demand, Determinants of Demand and Supply, expansion & contraction in Demand and Supply curve, Elasticity of Demand and Supply.
• Practical : Debate a business policy from micro vs. macro perspectives
• Meaning, Characteristics of Utility. Measurement of Utility, Law of Diminishing Marginal Utility, Law of Equi-Marginal utility
• Indifference curve Approach: Meaning, Properties of Indifference curves. Budget Line. Consumer Equilibrium- Price, income, and substitution effect.
• Practical: Survey personal utility from goods to show diminishing marginal utility
• Law of Production- Meaning of Production, Law of Variable Proportions, Returns to scale, Economies and Diseconomies of scale Equal product curves (Isoquants)
• Cost Analysis: Short-run cost curves and Long-run cost curves.
• Practical: Make a presentation on production and cost curves.
• Revenue Analysis-Concept and Types
• Classification and Features
• Price and Output determination under Perfect Competition and Monopoly, Discriminating Monopoly, Monopolistic competition, and Oligopoly- Kinked demand curve
• Practical: Role-play firms to determine pricing and output
• Factor Pricing: Marginal productivity theory of distribution.
• Modern theory of distribution: Demand & Supply of factors of production, Determination of factor price, Modern Theory of Wages and Rent.
• Practical: Analyze wage determination in an industry case study
• Somdeo, Business Economics, RBD, Jaipur
• Mathur, N.D, Business Economics, Shivam Publication, Jaipur
• Business Economics Chaudhary,C.M ,RBSA, Jaipur
• Modern Business Economics,Jain,T.R,VKI Publications
• Fundamental of Business Economics, Mithani,D.M Himalaya publication house
Suggested Readings:
• Business Economics Ahuja, H.L,s.chand& company ltd
• Business Economics-I (Micro)Chaturvedi D.D, brijwasi books distributers and publication
• Dwivedi D.N, Managerial Economics, Vikas Publications, Delhi
• Business Economics,Gillespie,Andrew
• Managerial Economics,Damodaran,Suma,oxford university press
• Managerial Economics : A problem Solving approach, Wilkinson, cengage learning
E-Content:
• Managerial economics: William F. Samuelsson, Stephen G. marks http://www.mim.ac.mw/books/Samuelson%20Managerial%20Economics%207e.pdf [2]
• UG path Shala: https://epgp.inflibnet.ac.in/Home/ViewSubject?catid=0YyNXHI8GPO8SUQIuYNt... [3]
Reference Journals:
• Economic and Political Weekly, www.epw.in [4]
• Indian Journal of Finance
Links:
[1] https://accountingtaxation.iisuniv.ac.in/courses/subjects/micro-economics-1
[2] http://www.mim.ac.mw/books/Samuelson%20Managerial%20Economics%207e.pdf
[3] https://epgp.inflibnet.ac.in/Home/ViewSubject?catid=0YyNXHI8GPO8SUQIuYNtTA==
[4] http://www.epw.in
[5] https://accountingtaxation.iisuniv.ac.in/academic-year/2025-2026