Principles of Economics
Unit I : Introduction
a) Demand and supply : Determinants of demand, movements vs, shift in demand curve,
determinants of supply,
b) Elasticity of Demand and Supply
c) Application of demand and supply
Unit II : Consumer Theory
Ordinal Utility Theory: (Indifference Curve Approach); Consumer’s preferences, Budget Line,
Consumer’s equilibrium, Income and Substitution effects, Price consumption curve, Derivation of
the demand curve for a commodity, Criticism of the law of demand
Unit III : Production and Cost
Production: Firm as an agent of production, Concept of Production Function, Law of Variable
proportions, Isoquants, Return to scale, Economies and Diseconomies of Scale.
Costs:, long run and short run costs of production. Profit maximisation and cost minimisation,
Equilibrium of the firm, Technology Change in the very long run
Unit IV : Market Structure
(a) Perfect Competition : Assumptions. Theory of the firm under perfect competition, Demand
and revenue, Equilibrium of the firm in the short and long runs .
(b) Monopoly: Short run and long run equilibrium of monopoly firm. Price discrimination.
(c) Imperfect Competition: Difference between Perfect Competition ,Monopoly and Imperfect
competition, Monopolistic Competition: Assumption, Short run equilibrium, Long run
equilibrium, Oligopoly: Cause for the existence of oligopolistic firms in the market rather than
perfect competition, Co-operative vs. Non co-operative behaviour and dilemma of oligopolistic
firms.
Unit V : Income Distribution and Factor Pricing
Demand for factors, Supply of factor, Backward bending supply curve for labour concepts of
economic rent, Functional distribution of income
Financial Accounting
Unit 1 (a): Theoretical Frame work
i. Accounting as an information system , the user of financial accounting information and
their needs. Qualitative characteristics of accounting information. Functions of
accounting.
ii. The nature of financial accounting principles- Basic Concepts and Conventions, Salient
features of Accounting Standard.
(b) Accounting Process
From recording of a business transaction to preparation of trial balance including adjustments: Capital
and Revenue expenditure & receipts. Preparation of trial balance, Profit and Loss Account and Balance
Sheet (Sole Proprietorship only)
Unit II (a) Business Income
i. Measurement of Business Income- Net Income : Accounting period, the continuity
doctrine and matching concept
ii. Revenue: Concept, revenue recognition principles, recognition of expenses
(b) Preparation of financial statements of not for profit organizations
Unit III: Accounting for Hire Purchase and Consignment.
i. Accounting for hire purchase transactions, journal entries, ledger accounts in the books
of Hire Vendor and Hire Purchaser for large value
ii. Consignment : Features, Accounting treatment in the books of consignor and consignee.
Unit IV: Accounting for Inland Branches
Inland Branches, Dependent Branches only and Ascertainment of profit by Debtors Method
Unit V: Accounting of Dissolution of Partnership firm
Simple dissolution, Insolvency of all partners
Business Studies
Unit I : Foundation of Indian Business
Indian Experience of Liberalization and Globalization, Technological Innovations and Skill
Development, ‘Make in India’ Movement, Social responsibility and ethics, Emerging opportunities in
business and E-Commerce.
Unit II: Business Enterprise
Sole Proprietorship, One Person Company, Joint Hindu Family Firm, Partnership Firm, Joint Stock
Company, Cooperative Society.
Unit III: The Process of Management
Planning; Decision making; Organising: Basic Consideration, Departmentation – Functional, Project,
Delegation and Decentralizatiion of Authority.
Unit IV :
Leadership : Concept and Styles, Modern Theory of Leadership. Motivation: Concept and Importance,
Maslow Need Hierarchy Theory, Herzberg Two Factors Theory, Control : Concept and Process,
Communication: Process and Barriers. Change Management : Resistance to change and strategies to
manage change, Conflict levels, causes and resolution.
Unit V:
Conceptual Framework of Marketing Management, Human Resource Management.
BUSINESS COMMUNICATION
Unit I: Introduction
Nature, Process and Importance of Communication, Types of Communication (verbal and Non Verbal), Different forms of Communication. Barriers to Communication
Unit II: Business Correspondence
Letter Writing, presentation, living quotations, Sending quotations, Placing orders, inviting tenders, Sales Letters, claim & adjustment letters and social correspondence.
Unit III: Report Writing
Identify the types of reports, define the basic format of a report, identify the steps of report writing, determine the process of writing a report, Apply citation rules in reports.
Unit IV: Business language and presentation
Importance of business language, Common Errors in English, Oral Presentation Importance, Characteristics, Presentation Plan.
Unit V: Technology and Business Communication
Role, effects and advantages of technology in Business Communication like email, text messaging, instant messaging and modern techniques like video conferencing, social networking, Strategic importance of e- communication.
Suggested Readings: