BUSINESS ECONOMICS
A. Section I of the syllabus for semester 1 and section II for semester 2
B. 40 marks may be split into –
- 2 tests of 10 Marks each. In this 6 marks will be of objective type questions and 4 marks for case studies.
- 10 marks for project or assignment and
- 10 marks for attendance and class participation
C. End of the Semester Test for 60 marks will cover 3 Modules each in both the Semesters.
The Pattern of Question Paper. (End of the Semester Test for 60 marks)
- Four questions in all.
- All the questions are COMPULSORY.
- There will internal choice.
- Each question will for 15 marks.
Q1. (From Module I)
A
B
OR
A
B
Q2. (From Module II)
A
B
OR
A
B
Q 3. (From Module III)
A
B
OR
A
B
Q.4 (Explanatory Notes- Any Two)
(One Explanatory Note each from Module I, II and III)
A.
B
C
OR
A.
B
C
For the IInd term Economics Notes Click on following link
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SYLLABUS FOR SEMESTER I and II
SEMESTER- I
Objectives- The objective of the course is to familiarize the students with the basic
concepts of microeconomics and its application to business situations. The syllabus is
meant to guide the students in understanding the real world market situations and how it
can be used as a practical goal for decision-making.
Module I - Demand Analysis
Utility: Cardinal and Ordinal approaches - Indifference Curve Approach: Properties of
Indifference Curves, Consumer’s Equilibrium, Price effect, Derivation of demand curve
from PCC. - Consumer’s Surplus- Elasticity of demand; Income, Cross and Promotional-
Case Studies- Demand Forecasting: meaning , significance and methods- Case Studies.
Module II- Theory of Production
Production function; Short Run and Long Run - Law of Variable Proportions- Iso-quant-
Producer’s Equilibrium- Returns to Scale- Economies of Scale- Economies of Scope-
Case Studies.
Module III Cost Analysis
A. Concepts: Social and Private costs, Economic and Accounting Costs, Fixed and
Variable Costs-Opportunity Cost.
B. Behavior of Cost Curves: Short Run and Long Run.
C. Learning Curve-Producer’s Surplus- Case Studies.
SEMESTER- II
Module IV Revenue Concepts:
Total Revenue- Average revenueand Marginal Revenue under Perfect Competition and
Monopoly-Relationship between Average Revenue, Marginal Revenue and Elasticity of
Demand-Objectives of a Firm:Profit, Sales and Growth Maximization - Break- Even
Analysis- Case Studies.
Module V Markets
Equilibrium under Perfect Competition and Monopoly in Long Run - Monopolistic
Competition: Features- Oligopoly: Features-Case Studies.
Module VI Pricing Methods
A) Marginal Cost, Full Cost, Discriminatory, Dumping, Multi-Product and
Transfer Pricing.
B) Capital Budgeting – Meaning and Importance- Investment Criteria:
Pay Back Period Method, Net Present Value Method, and Internal Rate of Return
Method- Case Studies.
REFERENCES FOR BOTH THE SEMESTERS
1. Principles of Microeconomics- H.L. Ahuja- S. Chand Company Ltd.
2. A course in Micro Economic Theory- David M. Kreps- Prentice Hall of India
3. Modern Micro Economics- A. Koutsoyianms- Mac Millan Press Ltd
4. Pridyck, R. S., and D.L. Rulrifeld, “Microeconomics”, Prentice-Hall of India Ltd
5. Barmol, William J, “Economic Theory and Opertions Analysis”, Prentice Hall of
India Pvt. Ltd, New Delhi
6. Advanced Economic Theory- H L Ahuja S. Chand Company Ltd. Latest Edition
7. Micro Economic Theory- M L Jhingan Mac Millan Press Ltd
8. Micro Economic Principles- Mankiw N Gregory- Mac Millan Worth Publishers,
New-York
Foundation Course
The Question Paper Pattern with unit‐wise weight-age of marks is as below:
Question No. 1‐ Unit 2 or Unit 2 15 marks
Question No. 2‐ Unit 3 or Unit 3 15 marks
Question No. 3‐ Unit 4 or Unit 4 15 marks
Question No. 4‐ Unit 1 and Unit 5 15 marks (5 short notes of 3 marks each out of 8)
Semester I
Unit 1
Overview of Indian Society:
Understand the multi‐cultural diversity of Indian society through its demographic
composition: population distribution according to religion, caste, and gender;
Appreciate the concept of linguistic diversity in relation to the Indian situation;
Understand regional variations according to rural, urban and tribal characteristics;
Understanding the concept of diversity as difference.
Unit 2
Concept of Disparity‐ 1:
Understand the concept of disparity as arising out of stratification and inequality;
Explore the disparities arising out of gender with special reference to violence
against women, female foeticide (declining sex ratio), and portrayal of women in
media;
Appreciate the inequalities faced by people with disabilities and understand the
issues of people with physical and mental disabilities.
Unit 3
Concept of Disparity‐2:
Examine inequalities manifested due to the caste system and inter‐group conflicts
arising thereof;
Understand inter‐group conflicts arising out of communalism;
Examine the causes and effects of conflicts arising out of regionalism and
linguistic differences.
Unit 4
The Indian Constitution:
Philosophy of the Constitution as set out in the Preamble;
The structure of the Constitution‐the Preamble, Main Body and Schedules;
Fundamental Duties of the Indian Citizen; tolerance, peace and communal
harmony as crucial values in strengthening the social fabric of Indian society;
Basic features of the Constitution.
Unit 5
Significant Aspects of Political Processes:
The party system in Indian politics;
Local self‐government in urban and rural areas; the 73rd and 74th Amendments
and their implications for inclusive politics;
Role and significance of women in politics.
Unit 6
Growing Social Problems in India:
Substance abuse‐ impact on youth & challenges for the future
HIV/AIDS‐ awareness, prevention, treatment and services
Problems of the elderly‐ causes, implications and response
Issue of child labour‐ magnitude, causes, effects and response
Child abuse‐ effects and ways to prevent
Trafficking of women‐ causes, effects and response
Semester II
Unit 1
Globalisation and Indian Society:Understanding the concepts of liberalization, privatization and globalization;
Growth of information technology and communication and its impact manifested
in everyday life;
Impact of globalization on industry: changes in employment and increasing
migration;
Changes in agrarian sector due to globalization; rise in corporate farming and
increase in farmers’ suicides.
Unit 2
Human Rights
Concept of Human Rights; origin and evolution of the concept;
The Universal Declaration of Human Rights;
Human Rights constituents with special reference to Fundamental Rights stated in
the Constitution;
Unit 3
EcologyConcept of Ecology and Environment;
Ecosystems‐ their structure and functions; food chain, food webs and ecological
pyramids;
Environmental degradation‐ causes and impact on human life.
Sustainable Development‐ concept and components;
Unit 4
Understanding Stress and Conflict:Causes of stress and conflict in individuals and society;
Agents of socialization and the role played by them in developing the individual;
Significance of values, ethics and prejudices in developing the individual;
Stereotyping and prejudice as significant factors in causing conflicts in society.
Aggression and violence as the public expression of conflict;
Unit 5
Managing Stress and Conflict in Contemporary Society:Types of conflicts and use of coping mechanisms for managing individual stress;
Maslow’s theory of self‐actualisation;
Different methods of responding to conflicts in society;
Conflict‐resolution and efforts towards building peace and harmony in society.
Unit 6
Contemporary Societal Challengesa) Increasing urbanization, problems of housing, health and sanitation;
b) Changing lifestyles and impact on culture.
c) Farmers’ suicides and agrarian distress.
d) Debate regarding Genetically Modified Crops.
e) Development projects and Human Rights violations.
f) Increasing crime/suicides among youth.
