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SYLLABUS
Unit-I
Introduction to Business Economics
Definition, Nature and Scope, Relationship with Other Disciplines – Business Decision Making Process - The Role of Managerial Economist- Basic Economic Principles – The Concept of Opportunity Cost, Marginalism, Equi-marginalism, Incremental Concept, Time Perspective, Discounting Principle, Risk and Uncertainty.
Unit-II
Theory of Demand and Supply
Demand Analysis - Demand Function, Law of Demand, Determinants of Demand, Types of Demand.Elasticity of Demand, Types, Measurement and Significance of Elasticity of Demand. Demand Forecasting, Need for Demand Forecasting, Methods of Demand Forecasting. Supply – Supply Function, Determinants of Supply, Law of Supply, Elasticity of Supply.
Unit-III
Production and Cost Analysis
Production Function, Production Function with One, Two Variables, Cobb-Douglas Production Function, Marginal Rate of Technical Substitution, Isoquants and Isocosts, Returns to Scale, Economies of Scale - Innovations and Global Competitiveness. Cost Concepts, Determinants of Cost, Cost-Output Relationship in the Short Run and Long Run, Short Run vs. Long Run Costs, Average Cost Curves, Break Even Analysis.
Unit-IV
Market Structures- Pricing and Output decisions
Classification of Market Structures - Features - Competitive Situations - Price-Output Determination Under Perfect Competition, Monopoly, Monopolistic Competition and Oligopoly - both the Long Run and Short Run.
Unit-V
Pricing Strategies
Pricing Policy, Price Discrimination, Cost Plus Pricing, Pricing of Multiple Products, Transfer Pricing, Pricing Over Product Life Cycle. Theory of Firm - Managerial Theories and Behavioral Theories of Firm. International Price Discrimination: Dumping, Effects of Dumping.
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CategoriesManagement
Format PDF
TypeeBook