Business Economics

Business Economics Book For:

• B.Com (Hons) I Year of Mahatma Jyotiba Phule Rohilkhand University Bareilly (MJPRU), Jai Prakash University Chhapra & B.Com I Year of University of Allahabad, Kumaun University (KUNTL), Jay Narain Vyas University Jodhpur (JNVU)
• B.Com (Hons) Semester I of University of Lucknow (LU), National Post Graduate College Lucknow; B.Com (Hons) Semester III of University of Lucknow (LU); B.Com (Hons) Semester IV of National Post Graduate College Lucknow
• B.B.A Semester I of Mahatma Jyotiba Phule Rohilkhand University Bareilly (MJPRU), Dr Rammanohar Lohia Avadh University Faizabad (RMLAU), Chhatrapati Shahu Ji Maharaj University Kanpur (CSJMU), National Post Graduate College Lucknow, Chaudhary Charan Singh University Meerut (CCSU), Mahatma Gandhi Kashi Vidyapith Varanasi (MGKVP), Jananayak Chandrashekhar University Ballia (JNCU).
• B.Com (General) Semester II of Sri Agrasen Kanya P.G. College Varanasi; B.Com (General) Semester III of Vinoba Bhave University Hazaribag (VBU), Banaras Hindu University (BHU); B.Com (General) Semester IV of Banaras Hindu University (BHU).

This Business Economics book is the outcome of my experience of four decades of the teaching of microeconomics to graduate and post-graduate students of Indian universities. It is intended as a comprehensive text for them. Besides, it will be useful to students of commerce and business administration as well.

With the decay of communism and re-enthroning of the market economy, it has become even more important to understand the function of the market as a co-ordinating system. Joan Robinson described the economic theory as a “box of tools”. For proper handling of our tools, we must learn how they function. This book fulfils these objectives. I have tried to present a clear and accurate picture of modern microeconomics. While doing this, relevant historical account has also been added so that the principles of modern economics are understood in their proper perspective.

Though the book has been presented in the traditional format, the analysis covers all important recent developments.

Business Economics Book Contents

1. Definition And Concepts Of Economics
2. Basic Problems Of An Economy And Working Of Price Mechanism
3. Equilibrium And Optimum Utilisation, Various Forms Of Equilibrium
4. Nature And Scope Of Economics
5. Relation Of Economics With Other Subjects
6. Micro And Macro Economics
7. Methods Of Economic Analysis (Deductive And Inductive)
8. Theory Of Demand
9. Elasticity Of Demand
10. Concept And Types Of Utility
11. Theory Of Consumer Behaviour : Cardinal Approach (Law Of Diminishing Marginal Utility, Law Of Equi-Marginal Utility)
12. Consumer’S Surplus
13. Theory Of Consumer Behaviour : The Indifference Curve Analysis
14. Production And Factors Of Production
15. Law Of Production (Production Function With One Variable : Law Of Variable Proportions And Law Of Returns To Scale)
16. Law Of Production (Production Function With Two Variable Inputs) (Isoquants And Producer’S Equilibrium)
17. Cost Analysis
18. Market (Concept, Definitions, Characteristics And Classification)
19. Revenue Analysis
20. Theory Of Supply (Law Of Supply And Its Elasticity)
21. Equilibrium Of Firm And Industry Under Perfect Competition
22. Price And Output Determination Under Perfect Competition
23. Monopoly Pricing And Price Discrimination
24. The Theory Of Imperfect Competition (Monopolistic Competition)
25. Pricing Under Oligopoly And Theory Of Games
26. Theory Of Distribution
27. Rent
28. Wages
29. Interest
30. Profit