Business Economics, also called Managerial Economics, is the application of economic theory and methodology to business. Business involves decision-making, and business economics serves as a bridge between economic theory and decision-making in the context of business. Economic theories, economic principles, economic laws, economic equations, and economic concepts are used for decision-making. On this ground, students of commerce should know the importance of basic theories in actual business applications. Hence the introduction of Business Economics becomes important to the students.
Sr. No.
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Units
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Topics
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1.
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Introduction to Business Economics
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2.
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Demand Function
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- Introduction to Demand Function
- Objectives of Demand Function
- Meaning of Demand Function
- Law of Demand
- Exceptions of Demand Functions
- Types of Goods
- Elasticity of Demand
- Measurement of Elasticity of Demand
- Income Elasticity of Demand
- Cross Elasticity of demand
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3.
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Demand Forecasting
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- Introduction to Demand Forecasting
- Objectives of Demand Forecasting
- Meaning of Demand Forecasting
- Definitions of Demand Forecasting
- Kinds of Demand Forecasting
- Features of Scientific Demand Forecast
- Methods of Demand Forecasting
- Importance of Demand Forecasting
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4.
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Production Function Concepts & Theories
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- Introduction to Production Function
- Objectives of Production Function
- Meaning of Production Function
- Concepts of Production Function
- Theories of Production Function
- Law of Variable Production
- Law of Returns to Scale
- Economies & Dis-economies to Scale
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5.
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Theory of Costs
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- Meaning of Cost
- Short Run Cost Curves
- Long-Run Cost Curves
- Traditional & Modern Approaches
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6.
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Market Structures
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- Market Structures & Business Decisions
- Perfect Competition
- Monopoly
- Monopolistic Competition
- Oligopoly
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7.
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Factor Pricing
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- Demand for Factors
- Nature of Supply of Factor Inputs
- Marginal Productivity Theory
- Determination of Wage Rates
- Concept and Theories of Rent
- Concept and Theories of Interest
- Concept and Theories of Profit
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...
Business Economics,Business Economics Notes,MBA Notes
