Semester I Revised June 2012 Revised Business Economics I Syllabus for F.Y.B.Com from June 2012 onwards University of Mumbai Semester I Module I: Demand analysis Demand function and determinants of demand – Concept and importance of Elasticity of demand‚ Income‚ cross‚ promotional. Case studiesConsumer surplus‚ Demand forecasting: meaning significance and methods-case studies Module II Theory of production and cost Production function-short run and long run- Law of variable proportions- Isoquantproducers’
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often has primary responsibility for promotion and sales (TR); the production department has primary responsibility for development costs (TC); and the finance department has primary responsibility for acquiring capital and‚ hence‚ for the discount factor (i) in the denominator. These functional areas have lots of important overlaps. The marketing department can help reduce costs for a given level of output by influencing customer order size and timing. The production department can stimulate sales
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Economics The economics course provides students with a basic foundation in the field of economics. The course has five sections: fundamental concepts‚ microeconomics‚ macroeconomics‚ international economics‚ and personal finance. In each area‚ students are introduced to major concepts and themes concerning that aspect of economics. Fundamental Economic Concepts SSEF1 The student will explain why limited productive resources and unlimited wants result in scarcity‚ opportunity
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What is Economics? Economics is the study of the production and consumption of goods and the transfer of wealth to produce and obtain those goods. Economics explains how people interact within markets to get what they want or accomplish certain goals. Since economics is a driving force of human interaction‚ studying it often reveals why people and governments behave in particular ways. There are two main types of economics: macroeconomics and microeconomics. Microeconomics focuses on the actions
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Economics is the study of social behavior guiding in the allocation of scarce resources to meet the unlimited needs and desires of the individual members of a given society. Economics seeks to understand how those individuals interact within the social structure to address key questions about the production and exchange of goods and services. First‚ how are individual needs and desires communicated such that the correct mix of goods and services become available? Second‚ how does a society provide
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Lords and The House of Commons! British Parliament alone possesses legislative supremacy and thereby ultimate power over all other political bodies in the United Kingdom and its territories. ?The British Parliament‚ in its famed Longitude Act of 1714‚ set the highest bounty of all‚ naming a prize equal to a king?s ransom (several million dollars in today?s currency) for a ?Practicable and Useful? means of determining longitude‚? Davy Sobel. The history of British Parliament surpassed several milestones
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COURSE: BACHELOR OF COMMERCE (BCOM) UNIT: INTRODUCTION TO MACRO-ECONOMICS QUESTION: MICRO-ECONOMICS AND MACRO-ECONOMICS INTRODUCTION Economics is the foundation of all commercial activity and comprises two areas: microeconomics and macroeconomics. Macroeconomics is concerned with the big picture‚ for example‚ the national economy and gross domestic product. By contrast‚ microeconomics is concerned with the small picture and focuses on theories of supply and demand. Microeconomics is
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The British colonial government in Lagos did not have local support to abolish domestic slavery because it would upset and cause conflict with the individuals of power in Lagos. Rather‚ the British used a variety of terms to describe slavery‚ for example “[they] insisted that ‘domestic’ slavery in Africa was ‘benign’ or ‘mild’‚ and that slaves should be regarded as ‘servants‚’ ‘serfs’ or ‘family retainers‚’ rather than downtrodden beasts of burden.” The British feared that upsetting the regional
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British Imperialistic Journey Into India and China British imperialism heralded changes in society‚ industry‚ and cultures of both India and China. Both nations were forever changed by this Western influence. India was an underdeveloped‚ naive country‚ easily manipulated and exploited by the territorially crazed‚ money-hungry British Empire. They influenced India’s economy‚ imposed unjust laws‚ and created hostels and uprisings within the nation. In contrast‚ China was a more advanced and developed
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EC137 Economics Coursework Based on Principles of Microeconomics (Lecturer: Ger Turley) Assignment 2 Instructions: To be submitted by 4pm on Friday‚ 18th of October to the Economics Department‚ 1st floor of St. Anthony’s building (old part of the CAIRNES School of Business and Economics building) on the Upper Newcastle Road (located on the right-hand side‚ beyond the Topaz garage and crossroads). Please ensure that your name‚ student ID‚ tutorial details (day‚ time‚ venue)‚ degree programme
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