I B.COM- I Semester C101 ñPaper: Business Economics Chapter 1: Business Economics: 10 Hrs 1.1 Nature of Business Economics 1.2 Economic laws and principles 1.3 Economic and business environment 1.4 Business objectives. Chapter 2: Demand Analysis: 10 Hrs 2.1 Definition, determinants of Demand and Law of Demand. 2.2 Demand Curve, Forces behind the Demand Curve, Difference in changes in quantity demanded and change in demand. 2.3 Law of Diminishing Marginal Utility. 2.4 Consumer Surplus. Chapter 3: Elasticity of Demand: 10 Hrs 3.1 Definition ñ Price, Income, Cross Elasticity and promotional Elasticity of demand. 3.2 Factors that determine the elasticity of demand. 3.3 Measurement of price elasticity of Demand ñ Practical Utility Chapter 4: Supply Analysis: 10 Hrs 
 4.1 Supply Definition 
 4.2 Determinants of Supply 
 4.3 Law of supply 
 4.4 Supply Curve 
 4.5 Elasticity of Supply 
 4.6 Factors that determine the elasticity of supply 
 4.7 Measurements of elasticity of supply - Practical Utility Chapter 5: Cost of Production: 08 Hrs 
 5.1 Cost of Production and Variable and Fixed Cost. 5.2 Average and Marginal cost, real and Opportunity Cost, Short Run and Long run cost. 5.3 Cost output: Relationship in the short run and long run ñ economies of scale. 5.4 Law of returns: Constant, Decreasing and Increasing returns ñ Law of variable proportions. Books for reference: 1. Mithani D M and V R S Murthy ñ Fundamentals of Business Economics ñ Himalaya Publishing House. 2. Varshney and Maheshwari ñ Managerial Economics. 3. Joel Dean ñ Management Economics. 4. Dewett K K ñ Modern Economic Theory.

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