Business Economics

Syllabus

C1-COMC1T

Unit

Topic

No. of Lectures

1

Historical Background of Economics in India with Special Reference to Kautilya, Definition of Economics, Concept of Micro and Macro Economics, Method of Economic Study, Economics Law and their Nature, Significance of Economics, Basic Problems of Economics.

15

2

Elasticity of Demand, Concept and Measurement of Elasticity of Demand, Price, Income and Cross Elasticity, Average Revenue, Marginal Revenue and Elasticity of Demand, Determination of Elasticity of Demand, Importance of Elasticity of Demand.

15

3

Factors of Production-Land, Labour, Division of Labour, Efficiency of Labour, Capital, Organisation and Enterprises, The Scale of Production, Theories of Population.

15

4

Production Function and Law of Returns, Return of Scale, Equal Product Curve Analysis, Market and their Classification, Theory of Cost and Concept of Revenue.

15

5

Price Determination under Perfect Competition and Equilibrium of the Firm, Monopoly-Price and Output Determination and Monopoly Control, Price Determination under Monopoly, Imperfect and Monopolistic Competition-Price Determination.

15

6

Rent- Concept, Recording and Modern Theories of Rent, Quasi Rent, Wages-Concept, Nominal and Real Wages, Theories of Wage Determination; Profit-Nature, Concept and Theories of Profit.

15