Description

Major : Mandatory

Economics For Professional Careers – II

 

FYBCOM Semester II

 

As Per NEP 2020
(w.e.f. the Academic Year 2024-25)

 

Syllabus

 

Module – 1 : Cost, Revenue and Production (15 Lec.)
♦ Concepts of Costs – Short-run and Long-run Costs, Average and Marginal Costs, Total, Fixed and Variable Costs. Revenue Concepts – AR, TR & MR
♦ Meaning and Factors of Production, Short-run and Long-run
♦ Law of Production – The Law of Variable Proportions and Laws of Returns to Scale, Producer’s Equilibrium

Module – 2 : Market Structure and Price Determination (15 Lec.)
♦ Market Structure : Monopoly, Duopoly, Oligopoly, Perfect Competition, Monopolistic Competition. Game Theory.
♦ Price Determination in these Markets. Market Equilibrium and Social Efficiency.
♦ Price-Output Determination Under Different Market Forms