Essentials Of Business Economics

There has been a rapidly growing demand for professional managerial manpower over the past two decades, as a result of which most Indian universities and management institutes had to introduce degree and diploma courses right at the undergraduate level, with ‘Business Economics’ as a separate paper. To meet the requirement of the students who take on economics for business for the first time, the subject matter needs to be within their comprehension level that at the same time lays a strong foundation. This book meets this requirement by presenting a short, simpler and restructured version of the author’s popular book Managerial Economics. The book is as per the model syllabus of Business Economics recommended by the UGC for BBA students, with additional topics for the sake of completeness and to cover the syllabi of a large number of universities. The book also caters to BBE, B Com, and PGDBM courses run by the Indian universities and management institutes. The book differs from the author’s Managerial Economics in its scope of the subject matter and the level of analytical treatment, inasmuch as here only the microeconomic aspects of managerial economics are covered.

A. Part I: Fundamentals - Economics and Business Economics

1. The Economy, its Basic Problems and Price Mechanism

2. The Basics of Demand and Supply and Market Equilibrium

B. Part II: Theory of Consumer Demand - Analysis of Individual Demand

3. Elasticity of Demand

4. Demand Forecasting

C. Part III: Production and Cost Analysis - Theory of Production

5. Theory of Cost

D. Part IV: Market Structure, Pricing Theory and Practices - Market Structure, The Firm and its Objectives

6. Price and Output Determination Under Perfect Competition

7. Pricing Decisions Under Monopoly

8. Pricing Decision Under Monopolistic Competition

9. Pricing Decisions Under Oligopoly

E. Part V: Factor Market and Factor Pricing - Factor Market: Factor Demand and Supply

10. Theory of Wage Determination

11. Theory of Rent, Quasi-Rent and Economic Rent

12. Theories of Interest

13. Theories of Profit