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Micro Economics Syllabus FYBFM - FYBBI Sem-I

This document outlines the learning objectives and outcomes for a course in Micro Economics, which includes understanding basic economic concepts, demand and supply analysis, production costs, market structures, and elasticity. The course will cover 10 modules on topics such as demand and supply curves, costs of production, revenue analysis, and different market models. Students will learn key microeconomics principles and be able to apply concepts like elasticity and analyze different market types upon completing the course.

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67 views

Micro Economics Syllabus FYBFM - FYBBI Sem-I

This document outlines the learning objectives and outcomes for a course in Micro Economics, which includes understanding basic economic concepts, demand and supply analysis, production costs, market structures, and elasticity. The course will cover 10 modules on topics such as demand and supply curves, costs of production, revenue analysis, and different market models. Students will learn key microeconomics principles and be able to apply concepts like elasticity and analyze different market types upon completing the course.

Uploaded by

buggatikalash
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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FYBFM/ FYBBI Sem-I

SUBJECT : Micro Economics

Learning Objectives:

● To introduce basic economic concepts and relations .


● To familiarize the students about demand and supply concepts.
● To enable the students to understand the concept of elasticity of demand
● To impart a sound basis on production analysis related aspects.
● To enable the students to understand and analyse the cost and revenue
concepts.
● To develop the understanding of different forms of market structures.

Learning Outcomes:
After completion of the course, learners would be able to:
● understand the basic concepts of economics
● Identify the determinants of supply and demand
● demonstrate the impact of shifts in demand and supply curves on equilibrium price and
output, define equilibrium.
● know about various types of elasticity of demand and its application.
● understand short-run and long-run costs of production and revenue
● identify different forms of markets by their characteristics

Unit Content No.of


Lectures

I Module-1 10
Demand and Supply Analysis
1.1 Scope & Importance of Micro Economics, Demand function:
Meaning, determinants ,,Variation and change in demand, Supply
function: Meaning,determinants
1.2 Shifts in the Demand and Supply Curves and Equilibrium
1.3 Elasticity :Meaning, Significance, Types of Elasticity of
demand(Price, Income, Cross and Promotional)

III Module-II 10

Production decisions, Cost of Production and Revenue analysis

2.1 Production function:Production in the short and long run - Law of


Variable proportions and Law of returns to scale, Isoquant ,Economies
and Diseconomies of Scale
2.2 Cost concepts: Accounting cost and Economic cost, Implicit and
Explicit cost, Fixed and variable cost, Total, Average and Marginal
cost,Numericals on cost
2.3 Revenue concepts: Types:Total, Average & Marginal revenue

IV Module-III 10

Market Structure
3.1Perfect Competition :Features
3.2 Monopoly :Features ,Sources of monopoly power
3.3 Monopolistic Competition : Features, Selling Cost
3.4 Oligopoly: Features

Self Learning Topics (Unit wise)


Unit Topic

I Demand Analysis

III Monopoly Market Power

Online Resources:
https://nptel.ac.in/courses/110105075

https://onlinecourses.swayam2.ac.in/imb22_mg38/course#

Reference Books
1. Mehta, P.L.: Managerial Economics – Analysis, Problem and Cases (S. Chand& Sons,
N. Delhi, 2000)
2. Hirchey .M., Managerial Economics, Thomson South western (2003)
3. Salvatore, D.: Managerial Economics in a global economy (Thomson South Western
Singapore, 2001)
4. Frank R.H, Bernanke.B.S.,Principles of Economics (Tata McGraw Hill (ed.3)
5. Gregory Mankiw., Principles of Economics, Thomson South western (2002)
6. Samuelson &Nordhaus.: Economics (Tata McGraw Hills, New Delhi, 2002)
7. Pal Sumitra, Managerial Economics cases and concepts (Macmillan, New Delhi, 2004)
8. Richard G. Lipsey, K.Alec Chrystal, Principles of Economics(Oxford University
Press)

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