PAPER – V

BUSINESS ECONOMICS (C-105)

Unit I: Introduction : Basic problems of an economy working of price mechanism.

Unit II: Elasticity of demand : Concept and measurement of elasticity of demand; Price, Income and cross Elasticities; Average revenue, Marginal revenue, And elasticity of Demand; Determinants of elasticity of demand; Importance of elasticity of demand

Unit III: Production function: Law of variable properties iso–quants; Economic regions and optimum factor combination; Expansion path; Return to scale; Internal and external economics and diseconomies; Ridge lines.
Theory of Costs: Short-run and long-run cost curves- Traditional and modern approaches.

Unit IV Market structure : Market structure and business decisions; Objectives of a business firm a perfect competition; Profit maximization and equilibrium of firm and indust short rum and long rum supply curves; Price and output determination practicalapplications. Monopoly; Determination of price under monopoly; Equilibrium of a firm; Comparison between perfect competition and monopoly; Multi-plant monopoly; Price discrimination. Practical application.

Unit V: a. Monopolistic competition: Meaning and characteristic; Price and output Determination under monopolistic competition; Product differentiation; selling costs; Comparison with perfect competition; Excess capacity under monopolistic competition.
b. Oligopoly: Characteristics indeterminate pricing and output; Classical models of oligopoly; Price leadership; Collusive oligopoly; Kinked demand curve.

PAPER – I

BUSINESS COMMUNICATION (C-101)

Unit I: Introducing business communication: Basic forms of communicating; Communication models and process; Effective communication; Theories of communication; Audience analysis; Principles of effective communication

Unit III: Self – Development and Communication: Development of positive personal attitudes; SWOT analysis; Vot’s model of interdependence; Whole communication.
Corporate communication: Formal and in informal communication networks; Grapevine; Miscommunication(Barriers),Improving communication. Practices in business communication; Group discussions; Mock interviews; Seminars; Effective listening exercises; Individual and group presentations and Reports writing.

Unit III: Writing skills : Planning business messages; Rewriting and editing; The first draft; Reconstructing the final draft; Business letters and memo formats; Appearance; Persuasive letters; sales letters; collection letters; office memorandum.
Report writing: Introduction to a proposal, short report and formal report, Report preparation. Oral presentation; Principles of oral presentation, Factors affecting presentation, Sales presentation, Training presentation, Conducting surveys, speeches to motivate, Effective presentation skills

Unit IV: Non –verbal aspects of communicating: Body language; kinesics proxemics, Para language. Effective listening; Principles of effective listening; Factors affecting listening exercise; oral written and video session
Interviewing skills: Appearing in interviews; Conducting interviews; Writing resume and letter of application.

Unit V: Modern Forms of Communicating: Fax; E-mail; Video conferencing; etc. International Communication: Cultural sensitiveness and cultural context; Writing and presenting in international situations; Inter-cultural factors in interactions; Adapting to global business.

Unit I: The Indian Contract Act, 1872 : Nature of contract classification; Offer and
acceptance; Capacity of parties to contract; Free consent; Consideration legality of
object; agreement declared vaid; Performance of contract; Discharge of contract;
Remedies for breach of contract.

Unit II: Special contract: Indemnity; Guarantee; Bailment and pledge; Agency.

Unit III: Sale of goods act 1930 : Formation of contracts of sale ; Goods and their
classification, Price; Condition, And warranties; Transfer of property in goods;
Performance of the contract of sale; Unpaid seller and his rights, Sale by auction; Hire
purchase agreement.

Unit IV: The consumer protection Act 1986 : Silent feature definition of consumer; Grievance redressal machinery.

Unit V: Limited liability partnership Act – 2008

Unit I: Introduction: Meaning, Scope, Importance and limitation of statistics. Statistical investigation: Planning of statistical investigation, Census data, Statistical errors and approximation, Classification and tabulation of data frequency distribution.

Unit II: Statistical Average: Arithmetic, Geometric and harmonic means, Mode median, Qualities and percentiles, Simple and weighted averages. Uses and limitation of different averages.

Unit III: Dispersion and skewness : Range quartile deviation mean, Deviation and their coefficients, Standards deviation coefficient of variation skewness and its coefficiants.

Unit IV: Correlation : Karl parson’s coefficient of correlation, Probable error and interpretation of coefficient of correlation rank difference method and concurrent deviation method

Unit V: Analysis of time series: component of time series, Calculation of secular trend– moving average method and method of least squares. Index numbers: Utility of index numbers problems in the construction of index numbers simple and weighted index numbers, base shifting fishers ideal index numbers and tests of reversibility

Unit I: Indian business environment: Concept, Components, and Importance

Unit II: Economic trend (overviews): Income; Savings and investment; Industry; Trade and
balance of payments, Money; Finance, Prices.

Unit III: Problems of growth: Unemployment; Poverty; Regional imbalances; Social injustices; Inflation paralleled economy; Industrial sickness

Unit IV: Role of Government: Monetary and fiscal policy; Industrial policy; Industrial licensing Privatization; Devolution export-import policy; Regulation of foreign investment.

Unit V: Niti Aayog: Philosophy, Function, and role of Niti aayog.