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Business Economics (Micro)
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University of Pune, BBA, First SemesterSyllabus BUSINESS ECONOMICS (MICRO)Course Code – 104
Unit | Contents | No. of Lectures |
1 | Introduction1) Meaning, Nature and Scope of Business Economics – Micro and Macro.2) Basic Economic Problems.3) Circular Flow of Income and Expenditure. | 07 |
2 | Demand and Supply Analysis1) Concept of Demand and Supply.2) Elasticity of Demand and their Types.3) Factors Affecting Supply.4) Concept and Law of Supply. | 09 |
3 | Revenue and Cost Analysis1) Revenue Concepts – Total Revenue, Marginal Revenue, Average Revenue and their Relationship.2) Types of Costs:i) Accounting Costs and Economic Costs.ii) Short-run Cost Analysis – Fixed, Variable and Total Cost Curves, Average and Marginal Costs.iii) Long-run Cost Analysis – Long-run Average and Marginal Cost Curves. | 10 |
4 | Pricing under Various Market Conditions1) Perfect Competition – Equilibrium of Firm and Industry under Perfect Competition.2) Monopoly – Price Determination under Monopoly.3) Monopolistic Competition – Non-price Competition.4) Duopoly and Oligopoly – Meaning and Characteristics. | 10 |
5 | Distribution1) Rent – Modern Theory of Rent.2) Wages – Marginal Productivity Theory of Wage Determination.3) Interest – Liquidity Preference Theory of Interest.4) Profits – Dynamic, Innovation, Risk-bearing and Uncertainty-bearing Theories of Profits. | 12 |
SPPU/BBA/2019/1/04
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