Business Economics is a core subject under management studies.
Recently, University of Mumbai has introduced a new curriculum for several self-finance professional courses and management studies at the undergraduate level.
This book is a Tenth edition in sequence. This volume is intended to serve as a comprehensive / standard textbook on Business Economics paper for the First Year B.Com. (Banking and Insurance), BMS, B.Com. (Accounting and Finance), B.Com. (Financial Markets), B.Com. (Financial Management), B.Com. (Transport Management) and B.Com. (Investment Management) Degree course of the Mumbai University, with a new approach.
This book is the outcome of several years of teaching and writing experience of the authors. The authors humbly claim the following distinctive features of the book :
- It thoroughly discusses the new syllabus of the Mumbai University for the First Semester Self-Finance Degree course paper on 'Business Economics'.
- In the framework of the book, special care has been taken to avoid gaps in the sequential arrangement of topics and logical development of concepts and ideas of economic theory and their relevance to business economics.
- Topics covered are discussed, as far as possible, in a fairly self-contained manner.
- It is self-explanatory, lucid and simple.
- Brief Case Studies on demand forecasting, elasticity and production have been incorporated in the relevant chapters.
Unit I : Introduction to Business Economics
1. Scope and Importance of Business Economics
2. Basic Tools and Relations in Economics
3. Basics of Market Demand and Market Supply
Unit II : Demand Analysis
4. Demand Function
5. Elasticity of Demand
6. Demand Estimation and Forecasting
Unit III : Supply and Production Decisions and Cost of Production
7. Production Function and Laws of Returns
8. Economics and Diseconomies of Scale
9. Cost Concepts
10. Break-even Analysis
Unit IV : Market Structure
11. Perfect Competition
13. Monopolistic Competition
Unit V : Pricing Practices
15. Pricing Practices