Economics B.com Sem 1 Mkbu syllabus download | Gujarati Medium / English Medium
Course Name : BCom Sem 1
Tittle of the Paper : Economics
Language : English Medium - Gujarati Medium
With effect from Academic Year: 2020-21
Economic English Medium syllabus
Unit 1 : Basic Concepts and Definitions
- Marshall, Robbins and Samuelsons’ definitions of Economics.
- Positive and Normative Economics.
- Micro economics and Macro Economics.
- Utility, Goods and Services.
- Money and Wealth. Value and Price.
- Wealth and Welfare.
- Consumer surplus (Marshall’s concept).
- Meaning of Demand and Supply. Supply and Stock.
Unit 2 : Demand Analysis and Consumer
- Behavior Demand function-Law of Demand-Determinants of Demand.
- Elasticity of Demand and its types- price, income and cross elasticity.
- Types of Demand-Individual Demand and Market Demand, Industry Demand and Firm Demand, Demand for Consumer Goods and Demand for Producers Goods.
- Demand for Durable and Demand for Perishable Goods.
Unit 3 : Production, Cost and Revenue
- Analysis Production and Production Function-Short run and Long run Production function(basic idesonly Transformation Curve (Production Possibility Curve).
- Iso-Quants and Iso-Cost curves and equilibrium of a firm.
- Cost analysis-Various concepts of Cost-Total Fixed Cost, Total Variable Cost, Total Cost, Average Fixed Cost, Average Variable Cost, Average Cost and Marginal Cost Relationship between Average Cost and Marginal Cost Opportunity Cost.
- Basic concepts of Revenues-Total Revenue, Marginal Revenue and Average Revenue Relationship between Average Revenue and Marginal Revenue.
Unit 4 : Markets, Product Pricing &
Factor Pricing
- Concept of Perfect Competition, Monopoly and Monopolistic Competition (Meaning and characteristics).
- Control of Monopoly. Price Discrimination and Dumping. Selling cost and its Impacts. Concepts of Duopoly and Oligopoly-Collusive Oligopoly- Kinky Demand Curve (Price Leadership Model with reference to Oligopoly)