Course Syllabus

Sr.No UNIT DETAILS

DEMAND ANALYSIS: Introduction; Demand Analysis: The

Consumer, Demand Concepts, Own-Price Elasticity of Demand,
1 1 Income Elasticity of Demand, Cross-Price Elasticity of Demand.
Substitution and Income Effects. Normal and Inferior Goods.
Indifference Curve Analysis. Demand Forecasting: Need,
Techniques and Procedures
SUPPLY AND PRODUCTION DECISIONS: The Law of
Supply, Theory of Production: Factors affecting production,
2 2 production function, short run analysis, law of variable
proportions, Isoquant Curves, Long run production function,
Cobb-Douglas production function, Cost-Output Function,
Economies and Diseconomies of Scale
MARKET STRUCTURES AND PRICING PRACTICES:
Introduction; Analysis of Market Structures: Factors That
Determine Market Structure. Perfect Competition: Demand-
supply Analysis in Perfectly Competitive Markets, Optimal
Price and Output in Perfectly Competitive Markets.
Monopolistic Competition: Demand-Supply Analysis in
Monopolistically Competitive Markets, Optimal Price and
3 3 Output in Monopolistically Competitive Markets, Factors
Affecting Long-Run Equilibrium in Monopolistically
Competitive Markets. Oligopoly: Demand-Supply Analysis and
Pricing Strategies in Oligopoly Markets, Optimal Price and
Output in Oligopoly Markets, Factors Affecting Long Run
Equilibrium in Oligopoly Markets. Monopoly: Demand-Supply
Analysis in Monopoly Markets; Optimal Price and Output in
Monopoly Markets, Price Discrimination

MACRO ECONOMIC FUNDAMENTALS: Macro Economics

4 4 – Meaning, Nature and Scope, Circular Flow Model of
Economy. Inflation: Demand-Pull and Cost-Push Inflation, CPI
vs. WPI, Causes, Effects and Remedies of Inflation, Theories of
Inflation and Policy measures to control inflation
NATIONAL INCOME AND BUSINESS CYCLE: National
Income – Concept and Measurement, Theory of National
Income Determination – Multiplier and Accelerator Theories.
5 5
Overview of the Business Cycle: Phases of the Business Cycle;
Factors causing swings in business activity and measures to
control business cycles.