Annexure ‘CD – 01’

FORMAT FOR COURSE CURRICULUM

L T P/ SW/ No. of Total

Course Title: Introduction to Business Economics Credit Units:03 S FW PSDA Credit
Units
Course Level: UG Course Code: ECON 153 2 0 0 2 3 3
Course Objectives:
The aim of the course is to familiarize students with the basic concepts of Business economics and its application in managerial decision making.

Pre-requisites: Nil

Course Contents/Syllabus:
Weightage (%)
Module I: Introduction 20%

Descriptors/Topics
Nature and Scope of Business Economics, marginal and incremental principles. Production Possibility Frontier. Concept of
Demand & its determinants. Concept of Supply, determinants of supply, market equilibrium.
Module II: Elasticity of Demand and Supply, Demand Forecasting and Utility analysis 20%
Descriptors/Topics
Elasticity of demand and supply: meaning, types, measurement and significance in managerial decisions. Concept of demand
forecasting and methods of demand forecasting. Cardinal Utility analysis, indifference curve analysis, Consumer’s equilibrium
through cardinal and ordinal approaches.
Module III: Production and cost analysis 20%
Descriptors/Topics
Production function, Law of variable proportions, Returns to Scale, Concept of isoquants, Marginal Rate of Technical
Substitution, Producer’s equilibrium through isoquants. Cost concepts and their classification, cost-output relationships in short
 run and long run.
Module IV: Market structures 20%
Descriptors/Topics
Different market structures (features and price determination under each): Perfect competition, Monopoly, Monopolistic
Competition, and Oligopoly. Break even analysis.
Module V: Introduction to Macro economics 20%
Descriptors/Topics
Circular flow of Income, National income concepts, Inflation, unemployment and its types.

Course Learning Outcomes: Upon successful completion of the course the student will be able to:

1. Recall/ define various concepts in business economics.

2. Understand the meaning/ classification of different concepts in microeconomics and their importance in business decision making. They will also
understand the working of an economy, and the interplay between its different components.
3. Apply the acquired knowledge of business economics in business decision making.
4. Analyze economic information related to business and draw meaningful inferences from it.
5. Evaluate cost/ revenue structures/ profitability of business organizations.
6. Create analytical reports on micro and macroeconomic factors affecting business operations.

Pedagogy for Course Delivery:

The course will be taught using theory and case-based method. Blended mode of teaching-learning will be adopted. The students would be provided with e-
content in form of audio/video material, e-notes / course material. Instructor would lay emphasis on explaining basic concepts included in the course. PSDAs
shall form part of internal assessment.

List of Professional Skill Development Activities (PSDA) -

 PSDA-1: Home assignment (write-up): Prepare and submit a writeup on emerging issues/ trends in consumption, or production, or markets.
 PSDA-2: Analysis & Interpretation (write-up): Select a business organization and analyze its cost, revenue, and profitability structure. Prepare and
submit a write-up on the same.
 PSDA-3: Project: Prepare and present a report / Case study on an any one oligopolistic industry analyzing the competition among firms and the pricing
strategies being adopted by them.
Lab/ Practical details, if applicable: NA

Assessment/ Examination Scheme:

Theory L/T/SW (%) Lab/Practical/Studio (%) End Term Examination

40% NA 60%

Continuous Assessment/Internal Assessment End Term

(40 %) Examination
(60%)
Components Home Class Test Analysis & Project Quiz Attendance
(Drop down) Assignment Interpretation
Linkage of PSDA with
Internal Assessment PSDA-1 PSDA-2 PSDA-3
Component, if any
Weightage (%) 5 10 5 10 5 5 60
 Mapping Continuous Evaluation components/PSDA with CLOs

Bloom’s Level > Remembering Understanding Applying Analyzing Evaluating Creating

Course Learning outcomes CLO 1 CLO 2 CLO 3 CLO 4 CLO 5 CLO 6
Recall/ define Understand different Apply the Analyze Evaluate Create analytical
various concepts in acquired economic cost/ revenue reports on micro
concepts in microeconomics and knowledge of informatio structures/ and
business their importance in business n related to profitability macroeconomic
economics business decision economics in business of business factors affecting
making. They will also business and draw organizations business
understand the working decision meaningful . operations.
of an economy, and the making. inferences
interplay between its from it.
different components.
Assessment type/PSDA
Class Test  
Home Assignment (PSDA-1)    
Analysis & Interpretation      
(PSDA-2)
Project (PSDA-3)      
Quiz  

Text Reading:
 H.L. Ahuja (2017); Managerial Economics Analysis of Managerial Decision Making, S. Chand
 Parkin, M. (2018). Economics (13th ed.). Pearson

References:
 N. Gregory Mankiw (2015), Principles of Economics, Cengage Learning India Pvt. Ltd
 Himanshu Rastogi & K.K. Shukla (2016), Introduction to Managerial Economics – Text and Cases, Vrinda Publications (P) Ltd.
 D.N. Dwivedi (2015), Managerial Economics, Vikas Publishing
 D’Souza Errol (2008), Macroeconomics, Pearson Education
 Case, K. & Fair, R. (2017). Principles of Microeconomics (12th ed.). Pearson.