F.Y B.A External - Kachchh University

K.S.K.V. KACHCHH UNIVERSITY 49
K.S.K.V
KACHCHH UNIVERSITY
F.Y.B.A. ECONOMICS-1 [Main & FS]
MICRO ECONOMICS
PAPER - I
[1] Introduction
Nature and scope of economics, positive and normative Economics, various definition of
economic, Robbins, Aalan Smith and Marshals definition.
[2] Basic Economics Terms
Utility- Types of utility, Price and Value goods and Service, Monetary income and Real
income investment, Welfare.
[3] Price Mechanism
Meaning of Wemand, Law of demand increase and Decrease, Expansion and contraction of
Wemand, Law of Supply, increase and decrease, Expansion and contraction of Supply, price
determination.
[4] Consumer’s Behaviour
Cardinal and ordinal approaches of Utility Analysis, Diminishing Marginal Utility
analysis, Indifference Curve Characteristics, Price effect, income effect,Gifften Goods Equil-
Marginal Utility analysis.
[5] Elasticity
Price Elaslicity of demand, types of price elasticity, Consumer, Angel curve.
[6] Factors of Production
Land, Labour, capital and enterprenuer, Division of labour, types of Division of labour
Advantages of Divison of labour, Characteristics of Factors of production.
[7] Market Forms
Monopoly and price discrimination, measure of monopoly Power, wuopoly oligopoly,
monopoliture competition, perfect competition, Equtitrium of a firm in short run, and Long
run.
[8] Marginal Productivity theory of distribution theories of wage determination, wages
and collactive bargaining, wages Diffentials.
[9] Rent- Scarcity of Rent, diffrental Rent, Ques, Rent, Interest, Classical and Keynesim
theories, Profits-innovation risk and uncertainty theories.
[10] Welfare Economics,Problems in meaning welfare, Classical welfare economics Pareto’s
criterias value judgements. Concepts of Social function. Compensation principal-
Kaldor.