TEERTHANKER MAHAVEER

UNIVERSITY
(Established under Govt. of U. P. Act No. 30, 2008)
Delhi Road, Moradabad (U.P)

COURSE HANDOUT

Programme: BBA

Course Name: Business Economics

Course Code: BBAET240101

(Academic Session 2024 - 2025)

(40 Sessions Each Session for 60 Minutes)

Faculty Name: Dr. Himanshu Dargan

Employee Code: TMU07907
E-Mail: [email protected]

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 Contents

S.no. Description Page. No

A. Course Perspective 3
B. Programme Learning Outcomes 3-4
C Course Learning outcomes 4
D. Course Outline 4–5
E. Session Plan 6-9
F. Evaluation Scheme 9
G. Articulation and Attainment Matrices 10
H. Books & References 10 - 11
I. Additional Readings 11
J. Students’ Roles & Responsibilities 11
K. Contact details and Student Interaction Schedule 11 - 12

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A. Course Perspective:
This subject will provide a holistic approach to economic issues and give an overview to the students
related to cost, production, consumer behavior, and different market structures. The subject will
provide students with more practical knowledge, case-based lessons, & collaborative learning models.
Additionally, we will create a common student experience that not only benefits the society and
company at large, but also advances deep understanding & enhances investment decision-making
abilities. Understanding the relationship between cost, production, price, and output equilibrium in
different market conditions as well as the principles of commerce is made possible by a wide range of
topics covered in this field. The course is divided into 5 modules:
a) Economics origin, evolution and business economics.
b) Cardinal utility and ordinal utility theory, indifference curve
c) Demand analysis, demand elasticity and demand forecasting.
d) Theory of production, cost and revenue.
e) Determination of price and output equilibrium under different market condition.

B. Programme Outcomes:
The learnings and abilities or skills that a student would have developed at the end of three
years BBA programme.

PO 1 Business Students will have a comprehensive understanding of business

Knowledge: principles, theories, & practices across various functional areas
such as marketing, finance, human resources & operations.
PO 2 Critical Thinking Students will develop strong analytical & critical thinking skills to
and Problem identify, analyze & solve business problems effectively.
Solving:
PO 3 Communication Students will exhibit proficiency in oral and written
Skills: communication, essential for effective business interactions and
presentations.
PO 4 Leadership and Students will demonstrate leadership abilities and teamwork skills,
Teamwork: enabling them to lead, collaborate, and work effectively in diverse
and dynamic business environments.
PO 5 Ethical and Students will understand and apply ethical principles and practices
Social in their professional lives, promoting social responsibility and
Responsibility: sustainability in business.
PO 6 Global Students will possess a global outlook, understanding international
Perspective: business dynamics, cultural diversity, and global economic trends.
PO 7 Technological Students will be adept at using contemporary business
Proficiency: technologies & tools to enhance productivity and decision-making.
PO 8 Entrepreneuri Students will cultivate entrepreneurial skills, enabling them to
al Skills: identify opportunities, business plans, & launch new ventures.
PO 9 Research and Students will develop the ability to conduct business research,
Analytical Skills: analyze data, and draw meaningful conclusions to support business
decisions.

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PO 10 Adaptability Students will be prepared for continuous learning and adaptability
and Lifelong to changes in the business environment, pursuing ongoing
Learning: professional development

C. The Course learning Outcomes (COs).

CO Number CO Statement

CO1 Remembering key economic concepts and theories

CO2 Remembering the various types and properties of utility, demand, cost,
and revenue functions
CO3 Understanding economic problems and theories related to utility, demand,
production, cost, revenue, and market structures
CO4 Applying different market structures perfect competition, monopoly,
monopolistic & oligopoly and their implications for pricing &
competitive strategy.
CO5 Applying economic theories to analyze real-world scenarios

CO = Course Outcome. (A student is expected to have learnt concepts and demonstrated

/ developed abilities or skills related to business economics at the end of the course).

D. Course Outline:
Unit 1 Economics Origin & Evolution: Meaning, positive and normative
economics, significance, macro and micro economics. Economic
Problem: Scarcity, What to produce? How to produce? & For whom to
produce? Production Possibility Curve.

Business Economics: Meaning, Significance. Role and Responsibilities

of Business Economists. Steps of Decision Making in Business
Economics.
Unit 2 Cardinal Utility Theory: Utility: Meaning, definition, measurement,
and types of utility. Relationship between TU, MU and AU. The law of
diminishing marginal utility: Meaning, definition, assumptions,
limitation and importance. Law of Equi-Marginal Utility: Meaning,
definition, limitation and importance.

Ordinal Utility Theory: Indifference Curves: Meaning, Definition,

indifference schedule, indifference map, assumptions, properties of
indifference curves, exceptional shapes of indifference curves and
budget line.

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 Unit 3 Demand Analysis: Meaning of Demand, Demand Schedule, Demand
Function, and Law of Demand: Meaning, definition, diagram and
explanation of law of demand. Reasons for downward slopes in demand
curve, Exceptions to Law of Demand, Change in Demand Curve
(Movement along demand curve & Shift in demand curve).

Elasticity of Demand: Meaning, definition, Measurement of elasticity

of demand: Percentage Method, Total Outlay Method, Point Method and
Arc Method. Factors affecting elasticity of demand, Types of elasticity:
Price, Income and Cross.

Demand Forecasting: Meaning, definition, objective (short and long)

and Methods of demand forecasting.
Unit 4 Theory of Production: Meaning and concept of production, Production
function (Short run and Long Run), Relationship between TP, MP and
AP. Law of Variable Proportion, Law of returns to scale. Law of Supply.

Theory of Cost: Concept of Cost, Different types Cost, Cost Function

(Short Run and Long Run); Relationship between TFC, TVC and TC.
Relationship between TC, TFC, TVC, AC, MC, AVC and AFC and
Relationship between AC and MC.

Theory of Revenue: Concept of Revenue, Relationship between TR,

MR and AR.
Unit 5 Market and Market Structure: Concept and Different types of Market
and their characteristics.

Determination of price and output equilibrium under different

market structure: Perfect Competition: Features, Determination of
price and output equilibrium under long run & short run. Monopoly:
Features, Determination of price and output equilibrium under long run
& short run. Monopolistic: Features, Determination of price and output
equilibrium under long run & short run. Oligopoly Features,
Determination of price and output equilibrium under long run & short
run.

E. Learning Plan/Lesson Plan:

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Session Topics Pedagogy/ Book / Web Session Course
No. Teaching References outcome Outcome
Methods* (Bloom’s (CO)
Taxonomy)
1 Origin and Evolution of Chalk and R1 L2 CO1
Economics Talk
2 Positive & Normative Chalk and R1 L1 CO1
Economics Talk
3 Significance of macro Chalk and R1 L1 & L2 CO1
and micro Economics Talk
4 Economic Problem: Group R1 L3 CO1
Scarcity, What to Discussion
produce? How to
produce? & For whom
to produce?
5 Production Possibility Chalk and R1 L1 CO1
Curve (PPC) Talk
6 Meaning, significance of Chalk and R1 L1 CO1
Business Economics Talk + PPT
7 Role & Responsibilities GD + PPT R1 L3 & L4 CO1
of Business Economists
8 Steps of Decision Chalk and R1 L1 & L2 CO1
Making in Business Talk + PPT
Economics
9 Utility: Meaning, Chalk and R1 L2 & L3 CO2
definition, types and Talk + PPT
measurement, of utility
10 Relationship between Chalk and R1 L3 & L4 CO2
TU, MU and AU Talk
11 Law of diminishing Chalk and R3 L2 & L3 CO2
marginal utility Curve Talk + PPT
meaning, assumptions,
12 Law of diminishing Chalk and R3 L2 & L3 CO2
marginal utility Talk + PPT
Importance &
Limitations
13 Law of Equi marginal Chalk and R3 L1 & L2 CO2
utility meaning curve & Talk + PPT
assumptions
14 Importance of law of Chalk and Talk R3 L2 & L3 CO2
diminishing marginal + PPT

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 utility
15 Indifference Curves: PPT + Quiz R4 L2 & L4 CO2
Meaning & assumptions

16 Indifference map, and Chalk and Talk R4 L2 & L4 CO2

properties of + PPT
indifference curves
17 Exceptional shapes of Chalk and Talk R4 L1 & L2 CO2
indifference curves and
budget line.
18 Meaning of Demand, Chalk and Talk R2, R3 L2, L3 & L4 CO3
Demand Schedule and + PPT
Demand Curve
19 Determinants of Demand Chalk and Talk R2, R3 L2 & L3 CO3
and Demand Functions + PPT
20 Law of Demand, Chalk and Talk R2, R3 L2 & L3 CO3
Meaning, diagram and + PPT
assumptions of law of
demand.
21 Reasons for downward Chalk and Talk R2, R3 L2 & L3 CO3
slopes in demand curve, + PPT
22 Exceptions to law of Chalk and Talk R2, R3 L3 & L4 CO3
Demand
23 Shift in demand curve Chalk and Talk R2, R3 L1 & L2 CO3
and Change in Demand
Curve (Movement along
demand curve)
24 Elasticity of Demand Chalk and Talk R3, R4 L2, L3 & L4 CO3
Meaning, Price + PPT
Elasticity of Demand
and its types
25 Income Elasticity of Chalk and Talk R3, R4 L2, L3 & L4 CO3
Demand and its types and + PPT
Cross Elasticity of
Demand and its types
26 Percentage Method & Chalk and Talk R3, R4 L3, L4 & L5 CO3
Total Outlay Method to
measure elasticity of
demand
27 Point & Arc Method to Chalk and Talk R3, R4 L3, L4 & L5 CO3
measure elasticity of
demand and Factors of

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 elasticity of demand
28 Meaning of Demand Chalk and Talk R3, R4 L1 & L2 CO3
Forecasting its feature + PPT
and objectives
29 Qualitative and Chalk and Talk R3, R4 L2, L3 & L4 CO3
Quantitative methods of + PPT
Demand Forecasting
30 Meaning of production, Chalk and Talk R4 L2, L3, L5 and CO4
Production function L6
(Short run and long run)
31 Relationship between TP, Chalk and Talk R4 L2, L3, and L4 CO4
MP & AP. Law of
Variable Proportion, Law
of returns to scale. Law
of Supply.
32 Meaning and definition Discussion R3, R4 L1, L2, and L3 CO4
of Cost Analysis
33 Classification of Cost and Chalk and Talk R3, R4 L1, L2, and L3 CO4
Relationship between FC,
VC and TC
34 Relationship between Chalk and Talk R3, R4 L1, L2, and L3 CO4
TFC, TVC and TC.
Relationship between TC,
TFC, TVC, AVC AFC
AC, & MC,
35 Theory of Revenue: Chalk and Talk R2, R3 L1 & L2 CO4
Concept & Relationship
between TR, MR and
AR.
36 Meaning and Definition Chalk and Talk R3, R4 L1 & L2 CO5
of Market and features & + PPT
Classification of Market
with examples
37 Perfect Competition: Chalk and Talk R3, R4 L1, L2, and L3 CO5
Meaning features, + PPT
Determination of price
& output equilibrium
under long & short
run
38 Monopoly Meaning Chalk and Talk R3, R4 L1, L2, and L3 CO5
features, Determination + PPT
of price & output

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 equilibrium under long
run & short run
39 Monopolistic Meaning Chalk and Talk R3, R4 L1, L2, and L3 CO5
features, Determination + PPT
of price & output
equilibrium under long
run & short run
40 Oligopoly Meaning, Chalk and Talk R3, R4 L1, L2, and L3 CO5
features, Determination + PPT
of price & output
equilibrium under long
run & short run

L1 = Remember, L2 = Understand, L3 = Apply, L4 = Analyze, L5 = Evaluate and L6 = Create

Pedagogy/Teaching Method:*

C&T:-Chalk & Talk; S/P:-Slides/PPT; Videos; SEM: Seminar; Demo; CHART; ET/GL: Expert Talk/Guest
Lecture; QUIZ; CPS: Class room problem solving; GD:-Group discussion; RTCS: Real time case studies;
JAR:-Journal article review; PD:-Poster design; OL:-Online lecture/Google class room; Industrial Visit
(IV), Assignment (ASG), Quiz/Puzzle (Q), Brain storming (BS), Think-Pair-Share (TPS), Certification
(CERT), SIM: Simulation, P/G: Pledge/Greeting, Q/R: Quotes, references, LS: Literature Survey, RW:
Report Writing, MM: Model making, PED: Professional/ethical dilemma, Coding,
Activity/Event, FV: Field Visit etc.

*Strictly adhere to the Teaching Pedagogy/Teaching Method mentioned above and fill up in the column ** For
Book/Web Reference- Please refer the point no H and ensure the compliance of the same
F. Evaluation Scheme:
Evaluation Scheme: Faculty led Continuous Evaluation
Weightage Evaluation duration
Evaluation type
(Marks)
Class participation & 10 Regular
Attendance
Individual Assignment 10 After 2 Units

CT-1 Exam (20) 20 According to Academic calendar

(Best out of two
CT-2 Exam (20) CTs) According to Academic calendar

End Term Exam 60 According to Academic calendar

G. Alignment/Mapping of Cos: (Course Articulation Matrix)

(a) CO Mapping with Assessment tools:

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 Course CT-1 CT-2 Assignment Quiz End Semester
Outcomes Theory Exam
CO1  
CO2   
CO3    
CO4   
CO5  

(b) Mapping /Alignment of Cos with Pos (Programme Articulation Matrix)

Programme CO1 CO2 CO3 CO4 CO5
Outcomes
PO 1 3 3 2
PO 2 2 2 3 2 3
PO 3
PO 4
PO 5
PO 6 1 1 2
PO 7
PO 8
PO 9 2 2
PO 10 3 2

1 indicates the strength of correlation between CO and PO is Weak,

2= strength of correlation between CO and PO is Medium,

3= strength of correlation is High

H. References
Text / Reference Books:
R-1: Jhingan M. L, Micro Economics, New Delhi, Vrinda Publications
R-2: Jhingan M.L.:- Micro Economic Theory, New Delhi: Vikas Publications
R-3: G.S.:- Managerial Economics, McGraw Hill Publishing
R-4: Dr. Girijashankar, Business Economics (Micro), Pune Atharva Publication
R-5 Intermediate Microeconomics: A Modern Approach, Hal R. Varian, W. W. Norton &
Company.

Web references should be used from:

• NPTEL / SWAYAM
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 • e-PG Pathashala
• MOOCs
• Other Government initiatives https://www.education.gov.in/en/ict-initiatives / UP Govt.
MOOC
• Institution LMS

Web References:
W-1: https://nptel.ac.in/courses/110104093: NOC: Microeconomics: Theory & Applications, IIT
Kanpur, Prof. Deep Mukerjee
W-2 e-PG Pathashala
https://epgp.inflibnet.ac.in/Home/ViewSubject?catid=JVkwqv+HM+natE9SiF7CZA==

I. Additional Readings
 https://www.geeksforgeeks.org/managerial-economics-scope-nature-and-importance/
 https://www.toppr.com/guides/business-economics/theory-of-demand/elasticity-of-demand/
 https://www.geeksforgeeks.org/marketstuructures-market-meaning-features--curves/

J. Student’s roles & responsibilities Guidelines:

Guidelines: All students must read these guidelines carefully and understand them fully:

1. All students must be seated in the class within 05 minutes of the commencement of the
session. The class room will be bolted from inside after this time period.
2. He/ She is expected to read all topics/cases etc. before coming to the class.
3. All students are expected to participate actively in discussions that take place in the class
room.
4. He/ She will have to maintain regular attendance in classes as per University Ordinance.
5. He/ She will submit all types of assignments within given time frame.
6. He/ She will work in team & contribute to the team functions.
7. He/ She will be asked to teach in his/her class.
8. He/ She will actively engage himself/herself in all classroom activities. Student will be
responsible him/herself for his/her absence.
9. He will come in the class properly dressed and neatly trimmed hair and clean shaven. The
dress code is: As per university decided.
K. Contact details & Interaction Timing

Contact person: Dr. Himanshu Dargan

E Mail ID : [email protected]
Contact Days &Time: 9:30 AM to 3:30 PM: Monday to Saturday as the schedule given
below
BBA I
Semester 9:25-10:25 10:30-11:30 11:35-12:35 12:35-1:25 1:25-2:25 2:30-3:30
MONDAY BBA I BBA I LUNCH BBA I
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 Section C Section F Section D
BBA I BBA I BBA I
TUESDAY
Section C Section E Section D
BBA I BBA I BBA I
WEDNESDAY
Section C Section F Section E
BBA I BBA I BREAK BBA I
THURSDAY
Section F Section E Section D
BBA I BBA I BBA I
FRIDAY
Section C Section F Section E
BBA I BBA I BBA I
SATURDAY
Section C Section F Section D

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