Download - Hum103 Business-economics Th 1.10 Ac26
HUM103 Business Economics L T P C 3 0 0 3
Version No. 2Course Prerequisites: NilObjectives: To introduce the business economics concepts and their applications for engineers. Theories and tools of economics in Business applications. Expected Outcome: Students should be aware of basic concepts of economics and theoretical significance in Business. Unit No.1 – Consumer Preferences and Demand Analysis 9hrs Consumer Behaviour- Utility analysis- Indifference Curves –Equilibrium- Income and Price Effect- Slutsky Equation- Demand functions -Consumer Surplus – Engel curve- Elasticity-Demand Forecasting Techniques. Unit No.2 – Production Analysis 9hrs Producer’s Behaviour- Production Function- Cobb Douglas, CES and Translog Functions- Law of Variable Proportion -Law of Return to Scale. Unit No. 3 – Cost Analysis 9hrs Cost and Revenue Functions -Short-Run and Long-Run-AC, MC, AR and MR- Break–Even Analysis. Unit No. 4 Market Structures and Pricing 9hrs Perfect, Monopoly, Monopolistic and Oligopoly markets, Pricing – Market Search. Unit No. 5 – Games and Information 9hrsIntroduction to Game Theory - Strategic Equilibrium- Nash Equilibrium – AsymmetricInformation - Insurance –Risk and Uncertainty - Moral Hazard. Text Books : 1. Business Economics- J.A. Kay- Oxford University Press,- ISBN10: 0198292228 2. Micro Economic Analysis – Varian H 3. Micro Economic Theory: Mathematical Approach – Henderson & Quandt. References : 1. Varian H (1999), “Intermediate Microeconomics: A Modern Approach”, East West Press Pvt., Ltd, New Delhi. 2. Mandal R K (1999), “Microeconomic Theory”, Atlantic Publishers, New Delhi. 3. Maurya M L (2002), “Modern Microeconomics: Theory and Application”, Manglam Publishers, New Delhi. 4. Stigler G (1985), “Theory of Price”, Prentice Hall, New Delhi. 5. Koutsyiannis A (1994), “Modern Micro Economics”, MacMillan, London. 6. Pyndic & Rubin field - Micro Economics. Mode of Evaluation: Continuous Assessment (Quizzes, CATs, Assignments, etc.) and TEE Recommended by the Board of Studies on: 04.04.2012 Date of Approval by the Academic Council: 18.05.2012
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Proceedings of the 26th Academic Council held on 18.5.2012
