Lecture #
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Topic
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Topic Detail
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1
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Introduction to Business Economics
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Definition, Scope, Importance in decision-making, Microeconomics vs. Macroeconomics.
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2
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Basic Economic Concepts
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Scarcity, Choice, Opportunity cost, Production possibilities frontier (PPF).
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3
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Demand and Supply - Part 1
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Law of demand, Law of supply, Determinants of demand and supply, Market equilibrium.
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4
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Demand and Supply - Part 2
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Elasticity of demand (price, income, cross), Elasticity of supply, Practical applications.
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5
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Consumer Behavior - Part 1
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Utility theory, Cardinal and ordinal approaches, Law of diminishing marginal utility.
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6
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Consumer Behavior - Part 2
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Indifference curve analysis, Budget constraints, Consumer equilibrium.
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7
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Production Theory - Part 1
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Factors of production, Production function, Law of variable proportions.
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8
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Production Theory - Part 2
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Returns to scale, Isoquants, Producer equilibrium, Economies of scale.
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9
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Costs of Production - Part 1
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Types of costs (fixed, variable, total, average, marginal), Short-run and long-run cost curves.
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10
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Costs of Production - Part 2
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Cost-volume-profit analysis, Break-even analysis.
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11
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Market Structures - Part 1
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Perfect competition: Characteristics, Pricing, Output decisions, Short-run and long-run equilibrium.
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12
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Market Structures - Part 2
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Monopoly: Characteristics, Price determination, Discrimination, Welfare implications.
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13
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Market Structures - Part 3
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Monopolistic competition: Features, Product differentiation, Short-run and long-run equilibrium.
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14
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Market Structures - Part 4
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Oligopoly: Features, Cartels, Price leadership, Kinked demand curve.
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15
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National Income - Part 1
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Definition, Concepts (GDP, GNP, NNP, Personal income, Disposable income), Measurement methods.
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16
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National Income - Part 2
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Circular flow of income, Limitations of national income accounting.
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17
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Inflation and Unemployment - Part 1
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Definition, Types, Causes, Measurement of inflation (CPI, WPI).
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18
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Inflation and Unemployment - Part 2
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Effects of inflation, Unemployment types, Phillips curve, Relationship between inflation and unemployment.
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19
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Fiscal Policy
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Objectives, Tools (taxation, government spending), Fiscal deficit, Role in economic stability.
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20
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Monetary Policy
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Objectives, Tools (open market operations, reserve requirements, interest rates), Role in growth.
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21
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Business Cycles
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Phases of business cycles, Causes, Impacts, Policy responses to business cycles.
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22
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International Trade - Part 1
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Importance, Absolute vs. comparative advantage, Balance of trade and payments.
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23
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International Trade - Part 2
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Exchange rates, Trade policies (tariffs, quotas), Role of WTO and regional trade agreements.
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24
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Economic Growth and Development
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Definition, Factors of growth, Indicators of development (HDI, GDP per capita).
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25
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Public Goods and Externalities
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Characteristics of public goods, Externalities (positive and negative), Government intervention.
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26
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Market Failures and Government Role
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Types of market failures, Role of government in correcting failures, Policy tools.
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27
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Managerial Economics - Part 1
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Definition, Importance, Optimization techniques, Role in decision-making.
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28
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Managerial Economics - Part 2
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Demand forecasting methods (trend analysis, regression), Cost estimation techniques.
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29
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Case Studies and Applications - Part 1
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Practical examples of demand, supply, cost, and production in business scenarios.
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30
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Case Studies and Applications - Part 2
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Market structure analysis, National income impact on business, Inflation effects on operations.
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31
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Course Review and Recap
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Summary of major topics, Problem-solving exercises, Review of key concepts.
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32
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Final Assessment and Discussion
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Practical application of business economics, Q&A, Exam preparation.
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