Gauhati University BCom 2nd Semester Business Economics FYUGP Syllabus
Unit 1: Business Economics
Meaning Definitions – Characteristics-Scope of Business Economics – Uses and Objectives of Business Economics Business ethics in economics performance, Micro & Macro Economic concepts
Unit 2: Theory of Demand and Analysis
Demand Demand Determinants Law of Demand Characteristics Exceptions-Elasticity of Demand
Price Elasticity – Types – Determining Factors – Change in Demand and Elasticity of Demand Business Applications of Price Elasticity – Concepts of Income and Cross Elasticity of Demand
Price Elasticity of Demand, demand forecasting methods of demand forecasting Survey of buyer’s intention
Collective opinion – smoothing techniques, analysis of time series and trend projection
Unit 3: Cost and Production Function
Cost concepts and classifications, Cost determinants, Cost-output relationship in the Short and Long run, Economies and Diseconomies of Scale, Production Function with One Variable Input – Law of Variable Proportions, Production Function with Two Variable Input-Law of Returns to Scale, Equilibrium Though Isoquants and Isocosts.
Unit 4: Market Structure
Perfect Competition Features Price and Output Determination Influence of Time Element on Price and Output, comparison between market price and normal price, Monopoly Features – Price and Output Determination Price Discrimination Price Output Determination Under Discriminating Monopoly, Monopolistic Competition-Features Price and Output Determination in Short Run and in Industry Features of Duopoly and Oligopoly.
Unit 5: Economic Environment of Business Decision making
GNP and GDP, Consumption savings and Capital Formation, Money Supply and Monetary Policy, Employment, Unemployment and Full Employment.
Books for Reference:
D. M. Mithani: Business Economics.
Koutsiyannis, Modern Micro Economic theory
Dr. P. N. Reddy & H. R. Appanaiah: Essentials of Business Economics.
K. K. Dewett: Economic Theory.
M. L. Seth: Test Book of Economic Theory.
Mote V. L. Peul. S & G. S. Gupta: Managerial Economics, TΜΗ.
Sankaran: Business Economics.
Varsheney & Maheswari: Managerial Economics
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