LALA LAJPAT RAI INSTITUTE OF ENGINEERING & TECHNOLOGY, MOGA COURSE BBA SEM 1st MICRO ECONOMICS (BB101)

1) L T P: 6 0 0 SESSION: JULY- NOV 2012

TEACHER NAME HARWINDER PAL KAUR

SYLLABUS: Microeconomics: meaning nature and scope. Basic concepts of economics: Static and Dynamic approaches, equilibrium, utility, opportunity cost, marginal and incremental Principles. Microeconomics and Business. Theory of demand: Nature of demand for a product, individual demand, market demand, Determinants of demand. Elasticity of demand and its determinants. Demand as multivariate function. Theory of Consumer Behavior: Utility analysis, indifference curve analysis, applications of indifference curves. Theory of production and costs: The concept of production function, production with one and two variable inputs, optimal input combination, optimal input combination and long Run, revenue function. Theory of firm and market organization: Breakeven analysis, pricing under perfect. Competition, pricing under monopoly, price discrimination, pricing under monopolistic. Competition, selling cost, pricing under oligopoly: cournot model, kinked demand curve and price leadership. LECTURE SCHEDULE
LECTURE NO. TOPICS Books Page No.

L1-L3 L4-L6 L7 L8-L10 L11 L12 L13 L14 L15 L16 L17-20

Microeconomics: Meaning nature and scope

B1 B2 Basic concepts of economics: Static and Dynamic B2 approaches equilibrium B2 Utility: meaning B1 Opportunity cost: concept B1 Marginal cost: meaning B2 REVISION Incremental Principles B2 CLASS TEST-I Microeconomics and Business B2 Theory of demand: Types of demand & law of B1 demand Nature of demand for a product Individual demand & Market demand Determinants of demand Elasticity of demand and its determinants B1 B1 B1 B2

4-17 3-8 17-24 24-28 42-47 52-54 34 31-34 35-37 146-151

L21 L22 L23-28 L29 L30 L31 L31 L32-L34 L35-L36 L37

148-149 153-156 171-189 68-93 Handouts Handouts 70-71 74-79 80-85 100-101 116- 153

CLASS TEST-II Demand as multivariate function B1 Theory of Consumer Behavior B1 Utility analysis: Concept B1 Law of Diminishing Marginal Utility B1 MST-I Law of equi-marginal Utility B1 Indifference curve analysis: concept, indifference B1 curve and Map B2

L38 L39 L40 L41 L42 L43 L44 L45-47

L48 L49 L50 L51 L52 L53-L55

Law of diminishing marginal rate of substitution Properties of Indifference curve Price line Consumers equilibrium Income, Substitution, Price effects Applications of indifference curves Theory of production and costs: The concept of production function production with one and two variable inputs: Law of variable proportions Law of returns to scale optimal input combination Revision Class Test-III Optimal output combination and long Run Concepts of Cost Theories of cost: total cost, Average cost, marginal cost, Cost in long run, Cost in short run , relation b/w cost Revenue function: total revenue, Average revenue, Marginal revenue Relation ship B/W TR, AR, MR Theory of firm and market organization Breakeven analysis CLASS TEST-IV Pricing under perfect. Competition, Pricing under monopoly Price discrimination, Pricing under monopolistic. Competition Selling cost Pricing under oligopoly Cournot model Kinked demand curve and price leadership.

B1 B1 B1 B1 B1 B1 B1 B2 B1

102-104 105-108 109 111-113 113-119 123 194-198 165-197 199-204

B1

Handouts

B1 B1 B1 B2 B1 B1 B1 B1 B2 B1 B1 B1 B1 B1 B3 B1 B1

Handouts 229-234 235-251 217-248 260-264

L56-L57

L58 L59 L60 L61 L62-L63 L64-L65 L66 L67-L68 L69 L70-L71 L72 L73

264-268 253-257 284-296 276-283 307-313 318-320 327-333 335-336 356-365 Handouts

Reference Books: Sr.No. 1 2 3 4 Author (s) T.R.Jain, Mukesh Trehan (B1) R. K. Lekhi & Charanjit Kaur (B2) Mishra & Puri Ruddardatt & Sundaram: Title Indian Economy Micro Economic Theory Indian Economy Indian Economy Publication V K Publication

Kalyani Publisher Himalaya S Chand