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BBA - DSC - Microeconomics

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23 views2 pages

BBA - DSC - Microeconomics

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qq354538
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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DSC 2: MICROECONOMICS

Course Objectives: The purpose of this course is to apply micro economic concepts and
techniques in evaluating business decisions taken by firms. The emphasis is on explaining how
tools of standard price theory can be employed to formulate a decision problem, evaluate
alternative courses of action and finally choose among alternatives.
Learning Outcomes:
• Explain the mechanics of supply and demand in allocating goods and services and
resources.
• Understand the choices made by a rational consumer.
• Identify relationships between production and costs.
• Define key characteristics and consequences of different forms of markets.

Course Contents:
Unit 1 (3 Weeks)
Individual demand, market demand, individual supply, market supply, market equilibrium;
Elasticities of demand and supply; Price elasticity of demand, income elasticity of demand,
cross price elasticity of demand, elasticity of supply.
Unit 2 (4 Weeks)
Cardinal utility theory; ordinal utility theory: in difference curves, budget line, consumer
choice, price effect, substitution effect , income effect for normal, inferior and giffen goods.
Unit 3 (4 Weeks)
Optimizing behaviour in short run: product curves, law of diminishing margin productivity,
stages of production; optimizing behaviour in long run: isoquants, isocost line, optimal
combination of resources; traditional theory of cost: short run and long run; modern theory of
cost.
Unit 4 (4 Weeks)
Perfect competition: basic features, short run equilibrium of firm/industry, long run equilibrium
of firm/industry, monopoly: basic features, short run equilibrium, long run equilibrium,
comparison with perfect competition, welfare cost of monopoly; price discrimination;
monopolistic competition: basic features, demand and cost, short run equilibrium, long run
equilibrium, excess capacity; oligopoly kinked demand curve model, dominant price leadership
model.
Essential Readings:
1. Dominick Salvatore (2009): Principles of Microeconomics (5th edition), Oxford University
Press.
2. Pindyck, Rubinfeld and Mehta (2009): Micro Economics (7th Edition), Pearson.
Additional Readings:
Lipsey and Chrystal (2008): Economics (11thedition), Oxford University.
Please Note: Latest edition of the readings to be used.
Teaching Learning Process:
Lectures, problems and numerical, term paper, presentations, case studies
Assessment
Total Marks: 100
Internal Assessment: 25 Marks
End Semester University Exam: 75 Marks
The Internal Assessment of the course may include Class participation, Assignments, Class
tests, Projects, Field Work, Presentations, amongst others as decided by the faculty.
Key Words
Equilibrium, Rationality, Utility Maximization, Profit Maximization, Market Form.

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