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Fundamentals of Business Economics


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In recent times several universities have introduced a paper on “Business Economics” for their B.Com, I.T. and M., and MBA Cources. Business Economics is an interesting and fundamental paper in business curriculum. However, it can be tough course for few students, Mastering the subject necessitates a good understanding of how basic concepts of economics can be combined with other decision making sciences to solve business problems. But, in the process of studying the subject, students can get mired in the minutiae of data, graphs, equations and definitions. As a result they may fail to appreciate the value of economic principles as tools for decision making. The objectives of this book are two fold. The first is to give a complete and rigorous introduction to basic principles of microeconomics. The second is to depict how systematic applications of economic theory can improve decision making. The style of the book is a lucid and simple one and every attempt has been made to clarify the fundamental concepts as simple as possible.


Contents :

1. Definition of Business Economics
2. Objectives of Business Firms
3. Demand Analysis
4. Cardinal Utility Theory
5. Indifference Curve Analysis
6. Demand or Sales Forecasting
7. Elasticity of Demand
8. Consumer`s Surplus
9. The Theory of Production Function
10. Iso-quants and the Theory of Production
11. Cost and Cost Curves
12. Equilibrium of the Firm and Industry Under Perfect Competition
13. Monopoly
14. Price Discrimination
15. Monopolistic Competition
16. Oligopoly
17. Pricing Policies
18. Specific Pricing Problems
19. Break-even Analysis
20. Capital Budgeting
21. Project Profitability
22. Profit Management
23. Business Cycles
The National Income and its Distribution


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M.John Kennedy


Himalaya pub