B.COM (P) SEM-5 BUSINESS ECONOMICS ( BEGINNER BATCH ) (NEP) 2025 BEO

👍𝐍𝐎 𝐑𝐄𝐅𝐔𝐍𝐃 𝐏𝐎𝐋𝐈𝐂𝐘

𝐔𝐧𝐢𝐭 𝟏: Introduction to Business Economics

Nature and scope of Business Economics, Demand and Supply: Meaning, law, Individual Vs
Market, Movement Vs Shift, Market equilibrium. Elasticity of Demand: Price, income and cross
elasticities. Measurement of elasticity of demand: outlay and percentage method. Elasticity of
supply: concept and measurement (Percentage method).

𝐔𝐧𝐢𝐭 𝟐: Consumer Behaviour

Cardinal Vs Ordinal Utility, Indifference curves: features, budget line, consumers equilibrium,
ICC and Engels curve, PCC and derivation of demand curve, Income and substitution effects of
price change (normal, inferior and giffen goods), Applications: effect of interest rates on
household savings, lumpsum subsidy Vs excise subsidy.

𝐔𝐧𝐢𝐭 𝟑: Production and Cost
Production function: TP, AP and MP, Law of Variable proportions. Isoquants: properties,
optimal combination of resources, expansion path and returns to scale.
Cost: Different cost concepts, Derivation of short run and long run cost curves (LAC and LMC),
Economies and Diseconomies of scale.

𝐔𝐧𝐢𝐭 𝟒: Market Structures
Perfect competition: features, equilibrium under short run and long run, derivation of supply
curve under short run and long run.
Monopoly: features, equilibrium under short run and long run, absence of supply curve, Price
discrimination: degrees, conditions and dumping.
Monopolistic competition: features, product differentiation and excess capacity and equilibrium.
Oligopoly: Collusive and non- collusive: Cournot‘s model, Kinked demand curve, Cartels
(OPEC and CIPEC)

𝐔𝐧𝐢𝐭 𝟓: Contemporary Issues and applications
Rent control, Minimum wages, Individual supply curve of labour, Peak load Pricing, Prisoners‘
dilemma and Game Theory.