BA8102 ECONOMIC ANALYSIS FOR BUSINESS-MBA-syllabus-subject-notes-pevious-year-questions-papers-bank
COURSE OBJECTIVES:
To introduce the concepts of scarcity and efficiency; to explain principles of micro economics
relevant to managing an organization; to describe principles of macro economics to have the
understanding of economic environment of business.
COURSE OUTCOMES:
Students are expected to become familiar with both principles of micro and macro economics.
They would also become familiar with application of these principles to appreciate the functioning
of both product and input markets as well as the economy.
UNIT I INTRODUCTION 8
The themes of economics – scarcity and efficiency – three fundamental economic problems –
society’s capability – Production possibility frontiers (PPF) – Productive efficiency Vs economic
efficiency – economic growth & stability – Micro economies and Macro economies – the role of
markets and government – Positive Vs negative externalities.
UNIT II CONSUMER AND PRODUCER BEHAVIOUR 13
Market – Demand and Supply – Determinants – Market equilibrium – elasticity of demand and
supply – consumer behaviour – consumer equilibrium – Approaches to consumer behaviour –
Production – Short-run and long-run Production Function – Returns to scale – economies Vs
diseconomies of scale – Analysis of cost – Short-run and long-run cost function – Relation between
Production and cost function.
UNIT III PRODUCT AND FACTOR MARKET 13
Product market – perfect and imperfect market – different market structures – Firm’s equilibrium
and supply – Market efficiency – Economic costs of imperfect competition – factor market – Land,
Labour and capital – Demand and supply – determination of factor price – Interaction of product
and factor market – General equilibrium and efficiency of competitive markets.
UNIT IV PERFORMANCE OF AN ECONOMY – MACRO ECONOMICS 13
Macro-economic aggregates – circular flow of macroeconomic activity – National income
determination – Aggregate demand and supply – Macroeconomic equilibrium – Components of
aggregate demand and national income – multiplier effect – Demand side management – Fiscal
policy in theory.
UNIT V AGGREGATE SUPPLY AND THE ROLE OF MONEY 13
Short-run and Long-run supply curve – Unemployment and its impact – Okun’s law – Inflation and
the impact – reasons for inflation – Demand Vs Supply factors –Inflation Vs Unemployement
tradeoff – Phillips curve –short- run and long-run –Supply side Policy and management- Money
market- Demand and supply of money – money-market equilibrium and national income – the role
of monetary policy.
TEXT BOOKS
1. Paul A. Samuelson, William D. Nordhaus, Sudip Chaudhuri and Anindya Sen, Economics,
19thedition, Tata McGraw Hill, New Delhi, 2010.
2. William Boyes and Michael Melvin, Textbook of economics, Biztantra, 2005.
3. N. Gregory Mankiw, Principles of Economics, 3rd edition, Thomson learning, New Delhi,
2007.
4. Richard Lipsey and Alec Charystal, Economics, 12th edition, Oxford, University Press, New
Delhi, 2011.
1. Karl E. Case and Ray C. fair, Principles of Economics, 6th edition, Pearson, Education
Asia, New Delhi, 2002.
COURSE OBJECTIVES:
To introduce the concepts of scarcity and efficiency; to explain principles of micro economics
relevant to managing an organization; to describe principles of macro economics to have the
understanding of economic environment of business.
COURSE OUTCOMES:
Students are expected to become familiar with both principles of micro and macro economics.
They would also become familiar with application of these principles to appreciate the functioning
of both product and input markets as well as the economy.
UNIT I INTRODUCTION 8
The themes of economics – scarcity and efficiency – three fundamental economic problems –
society’s capability – Production possibility frontiers (PPF) – Productive efficiency Vs economic
efficiency – economic growth & stability – Micro economies and Macro economies – the role of
markets and government – Positive Vs negative externalities.
UNIT II CONSUMER AND PRODUCER BEHAVIOUR 13
Market – Demand and Supply – Determinants – Market equilibrium – elasticity of demand and
supply – consumer behaviour – consumer equilibrium – Approaches to consumer behaviour –
Production – Short-run and long-run Production Function – Returns to scale – economies Vs
diseconomies of scale – Analysis of cost – Short-run and long-run cost function – Relation between
Production and cost function.
UNIT III PRODUCT AND FACTOR MARKET 13
Product market – perfect and imperfect market – different market structures – Firm’s equilibrium
and supply – Market efficiency – Economic costs of imperfect competition – factor market – Land,
Labour and capital – Demand and supply – determination of factor price – Interaction of product
and factor market – General equilibrium and efficiency of competitive markets.
UNIT IV PERFORMANCE OF AN ECONOMY – MACRO ECONOMICS 13
Macro-economic aggregates – circular flow of macroeconomic activity – National income
determination – Aggregate demand and supply – Macroeconomic equilibrium – Components of
aggregate demand and national income – multiplier effect – Demand side management – Fiscal
policy in theory.
UNIT V AGGREGATE SUPPLY AND THE ROLE OF MONEY 13
Short-run and Long-run supply curve – Unemployment and its impact – Okun’s law – Inflation and
the impact – reasons for inflation – Demand Vs Supply factors –Inflation Vs Unemployement
tradeoff – Phillips curve –short- run and long-run –Supply side Policy and management- Money
market- Demand and supply of money – money-market equilibrium and national income – the role
of monetary policy.
TEXT BOOKS
1. Paul A. Samuelson, William D. Nordhaus, Sudip Chaudhuri and Anindya Sen, Economics,
19thedition, Tata McGraw Hill, New Delhi, 2010.
2. William Boyes and Michael Melvin, Textbook of economics, Biztantra, 2005.
3. N. Gregory Mankiw, Principles of Economics, 3rd edition, Thomson learning, New Delhi,
2007.
4. Richard Lipsey and Alec Charystal, Economics, 12th edition, Oxford, University Press, New
Delhi, 2011.
1. Karl E. Case and Ray C. fair, Principles of Economics, 6th edition, Pearson, Education
Asia, New Delhi, 2002.
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