3_SEM_I_Minor_Microeconomics_2024_25

Program: Bachelor of Management Studies (2023-24) Semester : I
Course: Microeconomics Code:

Suggested Lectures per week 02
Teaching Scheme Evaluation Scheme
Lecture Practical Tutorial Credits Theory
Internal External
30 Nil Nil 02
20 Marks 30 Marks
Internal Component:
Class Test (Duration 20 Mins) Projects / Assignments Class Participation
10 Marks 10 Marks ---
Learning Objectives:
• Understand the fundamental concepts and theories of microeconomics, including the production
function, diminishing returns, laws of returns to scale, isoquants and cost curves.
• Analyse the characteristics and features of different market structures, such as perfect competition,
monopoly, monopolistic competition and oligopoly.
• Evaluate the equilibrium conditions for firms operating under perfect competition, monopoly and
monopolistic competition in both the short run and long run.
• Assess the factors contributing to monopoly power, inefficiencies in monopolistic competition and
pricing strategies in oligopoly markets through case studies.
Course Outcomes:
After completion of the course, learners would be able to:
CO1:Apply the concepts of production function, diminishing returns and cost curves to analyse and
optimize production processes and cost management.
CO2:Differentiate and assess the characteristics and market structures of perfect competition, monopoly,
monopolistic competition and oligopoly.
CO3:Analyse the equilibrium conditions for firms operating under perfect competition, monopoly, and
monopolistic competition in both the short run and long run.
CO4:Critically evaluate the sources of monopoly power, inefficiencies in monopolistic competition and
pricing strategies in oligopoly markets using real-world case studies.
Pedagogy: Classroom learning , Presentation, Theory Notes, Practical Sums, Assignments, Case
Study
MODULES AT GLANCE
No. of
Sr. No. Topics
Lectures
Module 1 Theory of Production & Costs 15
Module 2 Markets – Perfect Competition, Monopoly, Monopolistic Oligopoly 15
TOTAL 30
DETAILED SYLLABUS
Module No of Hours/
Topics
Credits
Module 1 Module 1: Production, Cost and Revenue Analysis 15
Production in the short and long run - Law of Variable proportions and Law
of returns to scale, Economies and Diseconomies of Scale.
Cost analysis – cost concepts, fixed and variable costs, total, average and
marginal costs, cost curves in short and long run – behavior and inter-
relationship.
Revenue analysis - total, average and marginal revenue, revenue structures

under perfect and imperfect competition.
Module 2 Market Structures 15
Perfect Competition - Features, equilibrium of firms in the short and long run.
Monopoly- Features, equilibrium of firms in the short and long run.
Monopolistic competition – Features.
Oligopoly – Features with kinked demand Curve.
References:
1. Gregory Mankiw, Principles of Economics, South-Western College Publishing; 7th

editionDecember 2013
2. Paul A. Samuelson and William D. Nordhaus, Microeconomics, McGraw Hill Education,
19thedition
3. Dominick Salvatore (adapted by Rakesh Shrivatsava), Managerial Economics: Principles
andWorldwide Application, OUP, New Delhi 7th edition
4. H.L Ahuja, Principles of Microeconomics, 22e, S Chand Publication.
5. Frank Robert. H, Bernanke. Ben S., Principles of Economics, McGraw Hill Education
6. Paul Keat, Philip. K. Young and Sheejata Banerjee, Managerial Economics, Pearson
Education, 2016
7. William A. McEachern and Simrit Kaur, Micro economics: A South-Asian Perspective,
CengageLearning, 2018
8. Jeffery M Perloff, Microeconomics 7th edition Pearson education 2019
9. Robert Pindyck & Daniel Rubinfeld Microeconomics 8th edition, Pearson education
10. D.D. Chaturvedi & S.L Gupta Business Economics: Theory & Application.
Evaluation Pattern for 4 credit courses
The performance of the learner will be evaluated in two components. The first component will be a
Continuous Assessment with a weightage of 40% of total marks per course. The second component
will be a Semester end Examination with a weightage of 60% of the total marks per course. The
allocation of marks for the Continuous Assessment and Semester end Examinations is as shown
below:
a) Details of Continuous Assessment (CA)

40% of the total marks per course:
Continuous Assessment Details Marks
Component 1 (CA-1) Class Test 20 marks
Component 2 (CA-2) Assignment 20 marks
b) Details of Semester End Examination

60% of the total marks per course. Duration of examination will be two and half hours.
Question Description Marks Total Marks

Number
Q1. Answer any One out of Two (Module I) 12 x 1 12
Q2. Answer any One out of Two (Module II) 12 x 1 12
Q3. Answer any One out of Two (Module III) 12 x 1 12
Q4. Answer any One out of Two (Module IV) 12 x 1 12
Q5. (a) Case Study 6x1 6
(b) Give economic reasons/ Explain the 3x2 6

following statements
Total Marks 60
Signature Signature
HOD Approved by Principal

(Ms. Sneh Choithani) (Dr. Parag Ajagaonkar)

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Program: Bachelor of Management Studies (2023-24) Semester : I

Course: Microeconomics Code:

Module 2 Markets – Perfect Competition, Monopoly, Monopolistic Oligopoly 15

Revenue analysis - total, average and marginal revenue, revenue structures

Module 2 Market Structures 15

1. Gregory Mankiw, Principles of Economics, South-Western College Publishing; 7th

a) Details of Continuous Assessment (CA)

b) Details of Semester End Examination

Question Description Marks Total Marks

Q2. Answer any One out of Two (Module II) 12 x 1 12

Q3. Answer any One out of Two (Module III) 12 x 1 12

Q4. Answer any One out of Two (Module IV) 12 x 1 12

Q5. (a) Case Study 6x1 6

(b) Give economic reasons/ Explain the 3x2 6

HOD Approved by Principal

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