Posted by : Ahsan Khan Tuesday, 28 February 2012


Syllabus

UNIVERSITY OF THE PUNJAB, LAHORE, PAKISTAN (B.COM – I)

BC-303: ECONOMICS

     1)            INTRODUCTION:
Definition, Nature, Scope and Importance (Micro and Macro) Economics Description, Analysis and Policy; Economic Methodology.
     2)            CONSUMPTION:
Definition and meaning, Diminishing Marginal Utility, Consumer’s Surplus, Law of Substitution; Indifference Curves. Consumer’s Equilibrium with Indifference Curves, Price and Income effect.
     3)            DEMAND & SUPPLY:
Definition and meaning, Curves, Elasticity of Demand and its measurement. Income and Cross Elasticity. Supply, Changes in supply. Elasticity of Supply, Market Equilibrium Analysis.
     4)            PRODUCTION:
Law of variable proportions. Factors of Production, Land, Labour and its mobility, Capital, its meaning, accumulation of capital, productivity of Capital, Entrepreneur, Functions of Entrepreneur.
     5)            COSTS OF PRODUCTION:
Fixed, Variable, Total, Average and Marginal; Costs over time period. Derivation of short and long run cost curves.
     6)            MARKET:
Perfect and Imperfect Competition, Demand and Supply Relationship. Market Price determination under Perfect Competition, Monopoly and Monopolistic Completion, Oligopoly, Duopoly (Basic Concepts).
     7)            FACTORS PRICING:
Rent, Wages, Interest and Profit.
     8)            NATIONAL INCOME:
Measurement of National Income, Concepts of National Income-GNP, National income market price, at factor Cost, Measurement of National Product in current price and in constant prices.
     9)            PUBLIC FINANCE:
Meaning, Difference between Private and Public Finance, Kinds of Taxes and Cannons of Taxation.
10)            ECONOMICS IN ISLAM:
Economic role of State in Islam, Zakat and Usher.
11)            MATHEMATICAL ECONOMICS:
Differentiation of functions. Partial differentiation. Application of derivatives in Business/ Commerce, Optimization. (Maximization and Minimization)

Recommended Book: Economics by Ahsan Khan, 6th or Latest Edition

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