To be eligible for admission to a 3-year Bachelor of Commerce (BCom) degree program in colleges affiliated with Sant Gadge Baba Amravati University, a student typically needs to have successfully completed their Higher Secondary Certificate (HSC) in either the science or commerce field and maintained a consistent academic record throughout their educational career.

Semester: I
Course Code: 400103
Course Name: Micro Economics–I
Credits: 2
Exam Duration: 2 Hours
Maximum Marks: 30

Syllabus

Unit–wise Course Content

Unit I – Introduction to Micro-Economics
1.1 Introduction to economics: Scarcity, choice, and opportunity cost.
1.2 Basic economic problems: What, how, and for whom to produce.
1.3 The market system: Demand, supply, and price determination.
1.4 Circular flow of income.

Unit II – Theory of Demand and Consumer Behavior
2.1 Cardinal vs. Ordinal Utility Theory.
2.2 Law of Diminishing Marginal Utility.
2.3 Indifference Curve Analysis and its applications.
2.4 Law of Demand and its determinants.

Unit III – Elasticity of Demand
3.1 Concept of Elasticity of Demand.
3.2 Types of Elasticity of Demand.
3.3 Measurement of Elasticity of Demand.
3.4 Determinants of Elasticity of Demand.

Unit IV – Theory of Production and Cost Analysis
4.1 Production Function: Short Run vs. Long Run.
4.2 Types of Costs: Fixed, Variable, Average, and Marginal Cost.
4.3 Economies of Scale.
4.4 Diseconomies of Scale.

Internal Assessment (20 Marks)

1. Multiple Choice Questions: 08 Marks (1 mark each)

2. Home Assignments: 12 Marks

Course Outcomes

By the end of this course, students will be able to:

1. Understand the core concepts of Micro-Economics and their application in business decision-making.

2. Analyze consumer and producer behavior.

3. Evaluate the role of markets in resource allocation and price determination.

4. Apply microeconomic principles to contemporary economic issues.