Introduction to Managerial Economics and demand Analysis: Definition of Managerial Economics –Scope of Managerial Economics and its relationship with other subjects –Concept of Demand, Types of Demand, Determinants of Demand, Demand schedule, Demand curve - Law of Demand and its Exceptions- Elasticity of Demand & Its types - Demand forecasting and Methods of forecasting.
Production and Cost Analysis: Concept of Production function- Cobb-Douglas Production function – Leontief production function, Production Function with One variable Input, Two Variable Inputs and Concept of Returns to scale -economies of scale, Different cost concepts – Cost –Volume-Profit (CVP) analysis (simple problems) 107
Unit-III Part-I: Introduction to Market Structures and pricing methods: Perfect Competition, Monopoly, Monopolistic competition and Oligopoly- Features – Price and Output Determination, Significance of Pricing and various methods of pricing with contemporary examples Part-II: Introduction to Business: Features, Merits and Demerits - Sole Trader, Partnership, Joint Stock Company – Public Enterprises – Business Cycles: Meaning and Features – Phases of Business Cycle.
Introduction to Financial Accounting: Systems of Book-keeping, Golden rules of Accounting, Accounting Principles, Accounting Cycle- Journal, Ledger, Trail Balance, Preparation of Trading- Account, P&L Account and Balance Sheet (Simple Problems)
Capital and Capital Budgeting Decisions: Introduction to Capital, Classification of Capital, Time value of money. Types of Capital Budgeting Decisions: Traditional Methods (Payback period, Accounting rate of return) and Modern methods (Net Present Value method, Internal Rate of Return Method and Profitability Index Method) (Simple Problems)