Industrial Economics (3‐0‐0) 3 Credits
Micro: Economics ‐ Nature, definition, scope and method; Equilibrium analysis; Statics, dynamic and comparative status; Demand analysis, Utility analysis; Indifference curve analysis; Elasticity of demand; Consumer’s surplus; Production factor, Capital formation, Labor; Production possibility curve and production function; Laws of return; Cost and cost curves; Markets and their structures; Price determination; Monopoly, duopoly and oligopoly; Marginal theory of distribution; Wages; Rent; Interest; Profit. Macro: Social accounting, National income, methods of measuring national income; Theory of employment, Keynesian system ‐ critique, relevance, multiple and accelerator; Trade cycles; Inflation and monetary policy; Labor relations; Economic systems; Economics of development and welfare; Role of government