Economics
Semester I Revised June 2012
Revised Business Economics I Syllabus for F.Y.B.Com from June 2012 onwards University of Mumbai
Semester I Module I: Demand analysis Demand function and determinants of demand – Concept and importance of Elasticity of demand, Income, cross, promotional. Case studiesConsumer surplus, Demand forecasting: meaning significance and methods-case studies Module II Theory of production and cost Production function-short run and long run- Law of variable proportions- Isoquantproducers’ equilibrium- returns to scale-economies of scale- case studies Concepts: social costs private costs, economic and accounting costs- fixed and variable costs, Opportunity cost, behavior of cost curves in short and long run producers’ surplus- case studies Module III Revenue Analysis Average Revenue, Marginal Revenue, Total Revenue- Relationship between Average Revenue and Marginal revenue and elasticity of demand Objectives of firm: Profit, sales and Growth Maximization, Break even analysis Case studies
Available for free and private circulation At www. rangasai.com and www. vazecollege.net
Business Economics Paper I, F.Y.B.Com (w.e.f. June 2012)
2
Dr.Ranga Sai
CONTENT
Semester I
Module I: Demand analysis Demand function Determinants of demand Consumer surplus Elasticity of demand, Income, cross, promotional. Case studiesDemand forecasting
Module II Theory of production and cost Production function Law of variable proportions Isoquant- producers’ equilibrium- returns to scale Economies of scale Concept of costs Behavior of short cost curves Behavior of long run cost curves Producers’ surplus Case studies
Module III: Revenue Concepts Relationship between AR and MR Objectives of firm Break even analysis
Business Economics Paper I, F.Y.B.Com (w.e.f. June 2012)
3
Dr.Ranga Sai
Commercialization takes its toll!! Syllabus was available to Authors and Publishers before, colleges and teachers knew. Hence delay in revising.
Revised Business Economics I Syllabus for F.Y.B.Com from June 2012 onwards University of Mumbai
Semester I Module I: Demand analysis Demand function and determinants of demand – Concept and importance of Elasticity of demand, Income, cross, promotional. Case studiesConsumer surplus, Demand forecasting: meaning significance and methods-case studies Module II Theory of production and cost Production function-short run and long run- Law of variable proportions- Isoquantproducers’ equilibrium- returns to scale-economies of scale- case studies Concepts: social costs private costs, economic and accounting costs- fixed and variable costs, Opportunity cost, behavior of cost curves in short and long run producers’ surplus- case studies Module III Revenue Analysis Average Revenue, Marginal Revenue, Total Revenue- Relationship between Average Revenue and Marginal revenue and elasticity of demand Objectives of firm: Profit, sales and Growth Maximization, Break even analysis Case studies
Available for free and private circulation At www. rangasai.com and www. vazecollege.net
Business Economics Paper I, F.Y.B.Com (w.e.f. June 2012)
2
Dr.Ranga Sai
CONTENT
Semester I
Module I: Demand analysis Demand function Determinants of demand Consumer surplus Elasticity of demand, Income, cross, promotional. Case studiesDemand forecasting
Module II Theory of production and cost Production function Law of variable proportions Isoquant- producers’ equilibrium- returns to scale Economies of scale Concept of costs Behavior of short cost curves Behavior of long run cost curves Producers’ surplus Case studies
Module III: Revenue Concepts Relationship between AR and MR Objectives of firm Break even analysis
Business Economics Paper I, F.Y.B.Com (w.e.f. June 2012)
3
Dr.Ranga Sai
Commercialization takes its toll!! Syllabus was available to Authors and Publishers before, colleges and teachers knew. Hence delay in revising.