Business Economics (Micro)

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Maindad Lata Yadav & Kalpana Vaidya

9789389294286

University of Pune, BBA, First Semester
Syllabus
 
BUSINESS ECONOMICS (MICRO)
Course Code – 104
 
Unit
Contents
No. of Lectures
1
Introduction
1)       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 Analysis
1)       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 Analysis
1)       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 Conditions
1)       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
Distribution
1)       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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