Business Economics (B.Com)

Demand, supply, elasticity, production, cost and price determination under different market structures.

6 MonthsDuration 5Chapters26Topics

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Syllabus · पाठ्यक्रम

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01Unit 1: Introduction to Business Economics 5 topics

Meaning, nature and scope
Micro and macro economics
Basic economic problems
Production possibility curve
Opportunity cost

02Unit 2: Demand, Supply and Elasticity 6 topics

Law of demand and its exceptions
Determinants of demand
Law of supply
Market equilibrium
Price, income and cross elasticity of demand
Measurement of elasticity

03Unit 3: Consumer Behaviour 5 topics

Cardinal utility and law of diminishing marginal utility
Law of equi-marginal utility
Indifference curves and their properties
Consumer's equilibrium
Consumer surplus

04Unit 4: Production and Cost 5 topics

Production function
Law of variable proportions
Returns to scale
Fixed, variable, average and marginal costs
Revenue concepts

05Unit 5: Market Structures and Pricing 5 topics

Perfect competition: features and equilibrium
Monopoly and price discrimination
Monopolistic competition
Oligopoly
Equilibrium condition MR = MC

About

You will be able to

Explain the nature and scope of business economics and basic economic problems
Apply the laws of demand and supply and calculate elasticity of demand
Analyse consumer behaviour using utility and indifference curve approaches
Explain production functions and short-run and long-run cost concepts
Explain price and output determination under perfect competition, monopoly, monopolistic competition and oligopoly

Who it is for

B.Com students (General and Accounting & Taxation streams) of Semester 2 under the UP State Universities NEP 2020 syllabus
Students who want clear diagrams and numericals for demand, cost and market questions

What you need

Class 12 pass; basic arithmetic and graph reading

Questions

Are diagrams compulsory in answers?

Diagrams make economics answers complete and earn marks, so we practise all standard curves.

Is there mathematics in this paper?

Only simple numericals on elasticity, cost and revenue, which are solved step by step in class.

Which syllabus does the course follow?

It follows the UP State Universities NEP 2020 common minimum syllabus for B.Com. Where your own university's syllabus differs, the centre teaches as per your university syllabus and papers.