B.Com Economics Notes – 1st year Business Economics Syllabus & Books

Download B.com 1st year Economics Notes for both sem 1 & 2. Get B.Com Economics Notes (अर्थशास्त्र नोट्स) and Free study material for various university exams. Bachelor of Commerce is an under graduation degree course of 3 years duration for commerce students. General Economics or Business Economics of India is one of the main subjects in B.com 1st year. Here we’ve provided B.Com 1st year Economics Books in pdf format for free. There are two economics papers in B.com 1st year those are Business Economics 1 in semester 1 and Business Economics 2 in Semester 2 (B.com अर्थशास्त्र नोट्स).

But In some universities, there are no semesters for B.Com Distance Education. For B.com Distance Program, There is Business Economics as the main subject in B.com 1st year course.

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Objectives of Economics Subject

1. To expose students of Commerce to basic Micro Economics Concepts and inculcate and the analytical approach to the subject matter.

2. To stimulate the student’s interest by showing the relievable and use of various economic theories.

3. To apply economic reasoning to problems of business.

Download B.com Economics Notes – 1st year (Semester 1 & 2)

Suggested Books for B.com Business Economics – 1st year

• Aryasri and Murthy: Business Economics, Tata Mcgraw Hill
• Deepashree: General Economics, Tata Mcgrawhill
• HL Ahuja Business Economics, S.Chand
• KPM Sundaram: Micro Economics
• Mankiw: Principles of Economics, Cengage
• Mithani: Fundamentals of Business Economics, Himalaya
• Salvatore, D. Schaum’s, Outline of Theory and Problems of Microeconomic Theory,McGraw-Hill, International Edition, New Delhi.

Detailed Syllabus of Business Economics – B.com 1st year

B.com Economics Notes – you have a syllabus in economics for the first year is

• unit-1: Introduction of Economics, Nature, and Scope of Business Economics
• unit-2: Demand , supply and market equilibrium, Theory of Consumption
• unit-3: Theory of Production and costs,
• unit-4: Market structure and factors of production,
• unit-5: National income, trade cycles, and international trade,

CONTENTS

Unit – I Nature and Scope of Business Economics.

A) Business economics meaning, Scope, and objectives of Business economics, Nature and types of business decisions, Role and responsibilities of a business economist, Role and social responsibility of business & business economist, Microeconomics and macroeconomics definition, scope, Merits, and Demerits.

B) Theory of Consumption.

1. Law of demand, Demand determinants, Changes in Demand, Exceptions to the law of demand Geffen‘s paradox. Law of Equi-marginal utility, Assumptions Limitations, Importance criticism of cardinal approach.

2. Indifference Curve – Concept, definition, Definition, Properties, Importance of indifference curve.

3. The elasticity of demand – Concept, kinds, definition Measurement of elasticity of demand, factors influencing the elasticity of demand, Importance of elasticity of demand.

4. Demand forecasting: Meaning, Need, Importance, Methods of demand forecasting.

Unit – II Theory of Production and Cost

1. Production Function – Concept Definition, Types of products, Total Production, Average Production, Marginal production, Law of variable proportions, Assumptions, Limitations and Significance.

2. Isoquant curves, Definition, General properties of isoquant curves, Expansion path internal and external economic and diseconomies of scale, Ridge line.

3. Theories of population, – Malthusian theory of population, Optimum theory of population, Demographic Transition Theory of population and criticism.

Unit – III Theory of cost and Revenue and Markets

1. Law of supply & Criticism influencing factors of supply.

2. The concept of cost – Accounting Cost, Economic Cost, Opportunities Cost, Fixed Cost, Variable Cost, Direct and Indirect Cost, Real Cost, Explicit, Implicit Cost, Money Cost, Total Cost, Average Cost, Marginal Cost, Selling Costs.

3. Revenues – Total Revenues, Average Revenues, Marginal Revenues and Relationship, and Time Element.

4. Market – Concept, meaning, Definition, Classification of market structures, Type Firm, Industry, Meaning, objectives, the difference between Industry and firm.

Unit IV:- Pricing of Products.

1) Perfect Competition definition, properties Price determination under perfect competition.

2) Monopoly -Definition, Properties, Types, Price determination under Monopoly

3) Monopolistic competition, meaning, concepts, properties and Price determination under Monopolistic competition.

4) Price and output under oligopoly – indeterminate pricing and output price leadership, collusive oligopoly, Kinked demand curve.

5) Price discrimination – Meaning, Types, Conditions under which it is possible and profitable, importance, Concept of Dumping.

Unit V – Theories of Distribution

1) Modern Theory of Distribution of Rent.

2) Theory of rent – Ricardian theory of Rent, Modern theory of Rent, Criticism, the concept of Quasi Rent.

3) Theory of interest – Loanable Funds Theory of Interest, Liquidity Preference Theory of Interest, Criticism, Concept of gross interest net interest.

4) Theories of Profit – Uncertainty Bearing Theory of Profit, Dynamic Theory of Profit, Innovation theory of Profit, Criticism, Gross Profit, Normal Profit, Abnormal profit.

5) Theory of Wages – Nominal wages, real wages, Exploitation of labor, Marginal productivity theory of wages.

B.com Economics Notes at Amazon.in Online Buy

We’ve provided B.com Economics Notes in PDF for 1st year. Any University student can download given BCom Business Economics Notes and Study material or you can buy BCom Business Economics Books at Amazon also. Share this article to other B.com 1st year students who are searching for B.Com 1st year Books.