QUESTION PAPERS:-
SYLLABUS
Unit I
Introduction to Business Economics and Fundamental concepts
Nature, Scope, Definitions of Business Economics, Difference Between Business Economic and Economics, Contribution and Application of Business Economics to Business. Micro Vs. Macro Economics. Opportunity Costs, Time Value of Money, Marginalism, Incrementalism, Market forces and Equilibrium, Risk, Return and Profits.
Unit II
Consumer Behaviour and Demand Analysis
Cardinal Utility Approach: Diminishing Marginal Utility, Law of Equi-Marginal Utility. Ordinal Utility Approach: Indifference Curves, Marginal Rate of Substitution, Budget Line and Consumer Equilibrium.
Theory of Demand, Law of Demand, Movement along Vs. Shift in Demand Curve, Concept of Measurement of Elasticity of Demand, Factors Affecting Elasticity of Demand, Income Elasticity of Demand, Cross Elasticity of Demand, Advertising Elasticity of Demand and Expectation Elasticity of Demand. Demand Forecasting: Need, Objectives and Methods (Brief)
Unit III
Theory of Production
Meaning and Concept of Production, Factors of Production and production function. Fixed and Variable Factors. Law of Variable Proportion (Short Run Production Analysis), Law of Returns to a Scale (Long Run Production Analysis) through the use of ISOQUANTS.
Unit IV
Cost Analysis & Price Output Decisions
Concept of Cost, Cost Function, Short Run Cost, Long Run Cost, Economies and Diseconomies of Scale. Explicit Cost and Implicit Cost, Private and Social Cost. Pricing Under Perfect Competition, Pricing Under Monopoly, Control of Monopoly, Price Discrimination, Pricing Under Monopolistic Competition, Pricing Under Oligopoly.
SYLLABUS
Unit I
Introduction to Business Economics and Fundamental concepts
Nature, Scope, Definitions of Business Economics, Difference Between Business Economic and Economics, Contribution and Application of Business Economics to Business. Micro Vs. Macro Economics. Opportunity Costs, Time Value of Money, Marginalism, Incrementalism, Market forces and Equilibrium, Risk, Return and Profits.
Unit II
Consumer Behaviour and Demand Analysis
Cardinal Utility Approach: Diminishing Marginal Utility, Law of Equi-Marginal Utility. Ordinal Utility Approach: Indifference Curves, Marginal Rate of Substitution, Budget Line and Consumer Equilibrium.
Theory of Demand, Law of Demand, Movement along Vs. Shift in Demand Curve, Concept of Measurement of Elasticity of Demand, Factors Affecting Elasticity of Demand, Income Elasticity of Demand, Cross Elasticity of Demand, Advertising Elasticity of Demand and Expectation Elasticity of Demand. Demand Forecasting: Need, Objectives and Methods (Brief)
Unit III
Theory of Production
Meaning and Concept of Production, Factors of Production and production function. Fixed and Variable Factors. Law of Variable Proportion (Short Run Production Analysis), Law of Returns to a Scale (Long Run Production Analysis) through the use of ISOQUANTS.
Unit IV
Cost Analysis & Price Output Decisions
Concept of Cost, Cost Function, Short Run Cost, Long Run Cost, Economies and Diseconomies of Scale. Explicit Cost and Implicit Cost, Private and Social Cost. Pricing Under Perfect Competition, Pricing Under Monopoly, Control of Monopoly, Price Discrimination, Pricing Under Monopolistic Competition, Pricing Under Oligopoly.
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