Business Economics (LPSPE)

• Syllabi Relevant: Caters to UGC'S new CBCS syllabus and also to its earlier Model Curriculum
• New Topics: Study of distinction between private and social costs, rule of thumb for pricing followed under monopoly and imperfect competition, mark up pricing, marginal cost pricing, Ramsey's multi-product pricing, causes of market failure and role of Government intervention to correct market failure. The book also includes a critical analysis of economic efficiency under perfect competition.
• Diagrams and Graphs: Clearly illustrate theoretical concepts and enhance understanding of their practical application.

PART I - NATURE AND SCOPE OF BUSINESS ECONOMICS

1. BUSINESS ECONOMICS: INTRODUCTION

2. BASIC PROBLEMS OF AN ECONOMY AND ROLE OF PRICE MECHANISM

PART II - DEMAND ANALYSIS AND CONSUMER BEHAVIOUR

3. DEMAND AND LAW OF DEMAND

4. CONSUMER'S BEHAVIOUR: CARDINAL UTILITY THEORY

5. INDIFFERENCE CURVE ANALYSIS OF DEMAND

6. REVEALED PREFERENCE THEORY OF DEMAND

7. CONSUMER SURPLUS

8. ELASTICITY OF DEMAND

9. DEMAND FORECASTING

PART III - ANALYSIS OF PRODUCTION AND COST

10. PRODUCTION ANALYSIS: FACTORS OF PRODUCTION

11. THEORY OF PRODUCTION: RETURNS TO A VARIABLE FACTOR

12. PRODUCTION FUNCTION WITH TWO VARIABLE INPUTS

13. OPTIMUM FACTOR COMBINATION

14. COST ANALYSIS

15. BREAK-EVEN ANALYSIS

16. SUPPLY AND ITS ELASTICITY

PART IV - MARKET STRUCTURES AND PRICING OF PRODUCTS

17. MARKET STRUCTURES AND CONCEPTS OF REVENUE

18. OBJECTIVES OF BUSINESS FIRMS AND THEIR EQUILIBRIUM: A GENERAL ANALYSIS

19. EQUILIBRIUM OF THE FIRM AND INDUSTRY UNDER PERFECT COMPETITION

20. PRICING IN A PERFECTLY COMPETITIVE MARKET

21. CONSUMER SURPLUS, PRODUCER SURPLUS AND ECONOMIC EFFICIENCY OF PERFECT COMPETITION

22. PRICE AND OUTPUT UNDER MONOPOLY

23. PRICE DISCRIMINATION

24. MONOPOLISTIC COMPETITION

25. PRICE AND OUTPUT UNDER DUOPOLY AND OLIGOPOLY

26. PRICING PRACTICES: FULL-COST (MARK-UP) PRICING, MULTI-PRODUCT PRICING AND MARGINAL COST PRICING

PART V - MARKET FAILURES AND GOVERNMENT INTERVENTION

27. MARKET FAILURES AND ITS CAUSES

28. EXTERNALITIES, PUBLIC GOODS AND MARKET FAILURE

29. ASYMMETRIC INFORMATION AND MARKET FAILURE

30. GOVERNMENT INTERVENTION AND ECONOMIC EFFICIENCY

PART VI - CAPITAL BUDGETING: LONG-TERM INVESTMENT ANALYSIS

31. CAPITAL BUDGETING: ANALYSIS OF INVESTMENT PROJECTS

32. COST OF CAPITAL OF BUSINESS FIRMS

33. COST-BENEFIT ANALYSIS

PART VII - FACTOR PRICING AND INCOME DISTRIBUTION

34. FACTOR PRICING AND THEORY OF INCOME DISTRIBUTION

35. DETERMINATION OF WAGES

36. THEORY OF RENT

37. THEORIES OF INTEREST

38. THEORIES OF PROFITS