(GE – 1)

MICRO ECONOMICS

Objective: Objective of the course is to acquaint the students with the concepts of micro-
economics dealing with consumer behavior. The course also makes the student understand
the supply side of the market through the production and cost behavior of firms.

Unit: I Demand and Consumer behaviour

Concept of demand: demand function, law of demand, derivation of individual and market
demand curves, shifting of the demand curve, elasticity of demand,
Consumer behavior, Marshallian utility approach and Indifference Curve approach; utility
maximization conditions . Income-Consumption Curve (ICC) and Price-Consumption Curve
(PCC)

Unit: II Production and Cost

Production function: Short-run and Long-run; Total Product, Average Product and Marginal
Product, Law of returns to a variable factor, Law of Returns to Scale; Concepts of Iso-quant
and iso-cost line;
Cost: Accounting and Economic Costs; Social and Private Costs; Short-run and Long-run
Costs; Relation between Average and Marginal

Unit: III Perfect Competition

Concept of Perfectly Competitive market: Assumptions, Profit maximization conditions;

Related concepts of Total Revenue, Average Revenue and Marginal Revenue, Short-run and
Long- run equilibrium of a firm; determination of short-run supply curve of a firm, measuring
producer surplus under perfect competition

Unit: IV Imperfect Competition

Monopoly

Concept of Monopoly: Sources of monopoly power; Short-run and Long-run equilibrium of a

monopoly firm; Price discrimination; Social Cost of Monopoly (concept only).

Monopolistic Competition

Concept of Imperfectly Competitive market; Monopolistic Competition: Features and

examples; Oligopoly: Non-Collusive Oligopoly: Sweezy’s Kinked demand Curve Model,
Collusive Oligopoly: Cartel (concept with example)

Learning Outcomes: The students would be able to apply tools of consumer behaviour and
firm theory to business situations.
Text Books Recommended
1. Micro Economics-K C Dash- Himalaya Publishing House
2. Ahuja, H.L, Micro Economics, S.Chand

Suggested Readings:
1. Mehta P.K, Singh M. – Micro Economics – Taxmann Publication
2. Micro Economics-T.R. Jain , B.D. Majhi, V.K. Global
3. Browining, E.K. and J.M. Browning; Microeconomic Theory and Applications,
4. Kalyani Publishers, New Delhi.
5. Microeconomics I and Statistics: Das & Sengupta, Oxford University Press
6. N. Gregory mankiw, Principles of Micro Economics, Cengage Learning
7. Dwivedi, D.N. Micro Economics, Vikash Publication
8. Pindyck, R.S., D. L. Rubinfeld and P. L. Mehta; Microeconomics, Pearson Education.
9. N. Gregory mankiw, Principles of Micro Economics, Cengage Learning
10. Maddala G.S.and E.Miller; Microeconomics: Theory and Applications,
11. MCGraw-Hill International.

(GE-2)

Macro & Indian Economy

Objectives:The course aims at providing the student with knowledge of basic concepts of the
macro economics. The modern tools of macro-economic analysis are discussed and the policy
framework is elaborated, including the open economy.

Contents:

Unit I Introduction to Macro Economics

Introduction: Meaning and definition of Microeconomics and macroeconomics, Difference
between Microeconomics and macroeconomics, macro-economic goals, components of
Macroeconomics, Economic Systems: Mixed economy, Socialism economy, Capitalism
economy and Islamic economy (only meaning and characteristics)

Unit II National Income Accounting

Definition of National Income, Concepts of National Income,GDP and GNP, Methods of
Measuring National Income, Uses of National Income, Difficulties in calculating National
Income, Real Income, Per Capita Income and Growth Rate
Unit:III National Income Equilibrium
I Concepts of Equilibrium, Consumptions & Savings, Investment Theory, Government
Sector, Foreign Sector, Determination of Equilibrium, Multiplier Concept, Inflationary Gap
and Deflationary Gap, Summary of Two-, Three- and Four-sector Economies

Unit:IV Role of Government

Economic functions of Government, Types of Budget, Government Revenue, Government
Expenditure, Public Debt, and Government Policy
Macroeconomic Problems
Introduction, Business cycle, Unemployment, Inflation, Deflation, Depression, RBI and
monetary policy

Learning Outcomes: Students would be able to apply the modern tools of macro-economic
analysis so as to minimize the adverse impact of macro-economic factors on business.

Text Books Recommended

3. Macro & Indian Economy, M. Treheran, T Treheran, V.K. Global publishing Pvt.
Ltd., New Delhi
4. Ahuja H.L – Macro Economics – S.Chand

Suggested Readings
5. Mankiw, N. Gregory. Principles Macroeconomics.Cengage Learning
6. Macro and Indian economy, P.K. Dhar, Kalyani Publishers
7. Macro and Indian Economy-V K Puri- Himalaya Publishing House
8. Dornbusch, Rudiger., Stanley. Fischer and Richard Startz, Macroeconomics.
Irwin/McGraw-Hill.
9. Vaish – Macro Economics – Vikash Publication
10. Macroeconomics & Indian Economy: Bhattacharyya, Oxford University Press.
 (GE-3)

Business Statistics

Objective:The objective of this course is to familiarize students with the basic statistical
toolsused for managerial decision-making.

Contents:

Unit I:

Statistical Data and Descriptive Statistics (With the use of Excel and other statistical
software)
Nature and Classification of data: Univariate, Bivariate and multivariate data; time-series and
cross-sectional data
Measures of Central Tendency
a) Mathematical averages including arithmetic mean, geometric mean and harmonic
mean. Properties and applications.
b) Positional Averages
Mode and Median and other partition values including quartiles, deciles, and percentiles

Unit II:

Measures of Variation (With the use of Excel and other statistical software)

Absolute and relative, Range, quartile deviation, mean deviation, standard deviation, and
their coefficients, Properties of standard deviation/variance Skewness: Meaning,
Measurement using Karl Pearson and Bowley’s measures; Concept of Kurtosis

Unit III:

Simple Correlation and Regression Analysis (With the use of Excel and other latest
software)

Correlation Analysis: Meaning of Correlation: simple, multiple and partial; linear and non-
linear, Correlation and Causation, Scatter diagram, Pearson’s co-efficient of correlation;
calculation and properties (proofs not required). Correlation and Probable error; Rank
Correlation

Regression Analysis: Principle of least squares and regression lines, Regression equations
and estimation; Properties of regression coefficients; Relationship between Correlation and
Regression coefficients; Standard Error of Estimate

Unit IV:

Index Numbers (With the use of Excel and other latest software)

Meaning and uses of index numbers: Construction of index numbers: fixed and chain base:
univariate and composite. Aggregative and average of relatives – simple and weighted
Tests of adequacy of index numbers, Base shifting, splicing and deflating. Problems in the
construction of index numbers

Construction of consumer price indices, important share price indices

Time Series Analysis (With the use of Excel and other latest software)

Components of time series, Additive and multiplicative models Trend analysis, Fitting of
trend line using principle of least squares – linear, second degree parabola and exponential,
Conversion of annual linear trend equation to quarterly/monthly basis and vice-versa;
Moving averages Seasonal variations- Calculation of Seasonal Indices using Simple
averages, Ratio-to-trend, and Ratio-to-moving averages methods. Uses of Seasonal Indices

Learning Outcomes: Students would be armed with the knowledge of using different
statistical tools very much required in the decision making process in any business as well as
business research.

Text Books Recommended

1. Gupta, S.P., and Archana Gupta. Statistical Methods. Sultan Chand and Sons, New
Delhi.
2. Business Statistics - Levine and Viswanathan, Pearson Publication

Suggested Readings:
1. Business statistics, S.C. Agarwal, V.K. Global Pub. Pvt. Ltd, New Delhi.
2. Patri and Patri, Business statistics , Kalyani Publishers New Delhi.
3. Keller G, and Arora H, BSTAT, Cengage Learning
4. Gupta, S.C. Fundamentals of Statistics. Himalaya Publishing House.
5. Business Statistics– S K Sahoo, P K Prusty, Vrinda Publications (P) Ltd
6. Microeconomics I and Statistics: Das & Sengupta, Oxford University Press.
7. Sharma J K, Fundamentals of Business Statistics – Vikash Publication
8. Vohra N. D., Business Statistics, McGraw Hill.
 (GE-4)

Principles of Marketing

Objective: The objective of this course is to provide basic knowledge of concepts, principles,
tools and techniques of marketing.

Contents:

Unit I: Introduction:

Nature, scope and importance of marketing; Selling vs Marketing; Marketing mix, Marketing
environment: concept, importance, and components (Economic, Demographic,
Technological, Natural, Socio-Cultural and Legal).

Consumer Behaviour and Market segmentation:

Consumer Behaviour: Nature and Importance, Factors influencing consumer buying

behaviour. Market segmentation: concept, importance and bases; Product differentiation vs.
market segmentation.

Unit II: Product:

Concept and importance, Product classifications; Concept of product mix; Branding,

packaging and labeling; Product life-cycle; New Product Development Process

Unit III: Pricing, Distribution Channels and Physical Distribution

Pricing: Significance, Factors affecting price of a product, Pricing policies and strategies,
Distribution Channels and Physical Distribution: Channels of distribution - meaning and
importance; Types of distribution channels; Factors affecting choice of distribution channel

Unit IV: Promotion and Recent developments in marketing:

Promotion: Nature and importance of promotion; Communication process; Types of

promotion: advertising, personal selling, public relations & sales promotion, and their
distinctive characteristics. Recent developments in marketing: Social Marketing, online
marketing, direct marketing, services marketing, green marketing, Rural marketing;
Consumerism

Learning outcome: After the completion of this paper, the students will able to identify
marketing components and fit them in the value chain along with the various marketing
strategies.

Text Books Recommended

Marketing Principles and Management-Sherleker and Pany-- Himalaya Publishing House
Kotler, Philip, Gary Armstrong, Prafulla Agnihotri and AhsanUlHaque. Principlesof
Marketing. 13thedition. Pearson Education.
Suggested Readings:
1. Principles of Marketing, Bajaj, Kaur, Kalyani Publishers, New Delhi.
2. Principles of Marketing , R.K. Mittal , A. Sharma, V .K. Global Pub. Pvt. Ltd, New
Delhi.
3. Marketing Management & Human Resource Management: Verma et.al, Oxford
University Press.
4. Lamb, C. W., Hair, J.F. and Sharma, D. MKTG, Cengage Learning
5. Principles of Marketing M K Nabi, K C Raut, Vrinda Publications (P) Ltd
6. Arun Kumar – Marketing management – Vikash Publication
7. Rudani R.B – Basics of Marketing Management – S. Chand
8. Majaro, Simon. The Essence of Marketing. Prentice Hall, New Delhi.
9. Zikmund William G. and Michael D’Amico. Marketing; Creating and Keeping
Customers in an E-Commerce World. Thomson Learning.
10. Chhabra, T.N., and S. K. Grover. Marketing Management. Fourth Edition. DhanpatRai&
Company.