Published 21-Nov-2016 Bilingual
In this subject you will cover the following topics:
a)Demand and Supply: Determinants of demand, movements vs shift in demand curve, Determinants of supply, Movement along a supply curve vs shift in supply curve, Market equilibrium and price determination.
b) Elasticity of Demand and Supply
c) Application of demand and supply
2) Consumer Theory
a)Ordinal Utility theory: (Indifference curve approach) Consumer’s preferences Indifference curves, Budget line, Consumer’s equilibrium, Income and substitution effect, Price consumption curve and the derivation of demand curve for a commodity, Criticisms of the law of demand.
3) Production and Cost
a) Production: Firm as an agent of production, Concepts of Production function, Law of variables proportions, Isoquants, Return to scale, Economies & Diseconomies of scale.
b) Cost: Costs in the short run, Costs in the long run, Profit maximization and cost minimization, Equilibrium of the firm, Technological Change(the very long run).
4) Market Structure
a) Theory of perfect competition, Assumption( Theory of a firm under perfect) competition, Demand & Revenue, Equilibrium of the firm in the short run and long run, The long run industry supply curve: increasing, decreasing and constant cost industry, Allocative efficiency under perfect competition.
The entire module is covered by Sanjeev Chopra. Sanjeev Chopra is a fabulous professor and is very famous among the north campus. He has made the career of many students and has now joined hands with Study Khazana to help students pursue the best in their career.This Entire module is for all the students who are in B.Com 1st year and want to score full.Besides the lectures Sir has provided you with the doubt sessions and Practice Session. His Lectures can prove boon to you.