Micro Economic Theory-II

Paper Code: 
HRG 214
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

To give in-depth study of different cost concepts, markets and various aspects of theory of Factor distribution

8.00
Unit I: 
Unit 1

Cost Analysis: Real cost, Opportunity cost, Money cost, Explicit and Implicit cost. Short run cost curves and Long run cost curves

Revenue analysis: Concept & Types, Revenue under different market conditions

10.00
Unit II: 
Unit 2

General theory of price Determination: Equilibrium of Demand and supply, Effect s of change in Demand and supply on price.

Price and Output determination under different markets: Perfect and Imperfect Competition 

9.00
Unit III: 
Unit 3

Price and Output determination under: Monopoly, Discriminating Monopoly, Dumping and Oligopoly

9.00
Unit IV: 
Unit 4

Factor Pricing: Factor Pricing in perfect market, Factor Pricing in imperfect market. Marginal Productivity Theory of Distribution.

Determination of Rent: Economic Rent Vs. Contract Rent, Ricardian theory & Modern theory of Rent.

9.00
Unit V: 
Unit 5

Determination of Interest- Types of interest, Liquidity theory , Modern theory of interest

Determination of Profit- concept of profit, Marginal Productivity theory of profit, Modern theory of profit,

Essential Readings: 
  • Somdeo, Business Economics, RBD,Jaipur
  • Mathur.N.D, Business Economics,Shivam Publications,Jaipur
  • Jain, Khanna and Tiwari, Modern business Economics, V.K.Enterprises, New Delhi
References: 
  • Dwivedi D.N, Managerial Economics, Vikas Publications, Delhi
  • Koutsoyiannis, Modern Economics, New York, Macmillan,1991
  • Keat Paul G & K.Y.Young, Managerial Economics, Prentice Hall, New Jersey
  • Dipsey R.G and Cheystal, Principles of economy, Oxford university Press
Academic Year: 
2019-2020
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