1.1 Definition and importance of Business Economics
1.2 Business economics in microeconomic environment
1.3 Business economics in macroeconomic environment
1.4 Objectives of the firm
1.5 Concept of economic profit

2.1 Functional Relationship and Economic Models
2.2 Linear and power functions (Quadratic and cubic), differentiation
2.3 First derivative, second derivative and partial derivatives
2.4 Optimization Techniques
2.5 Maximum and minimum points
2.6 Substitution Method

3.1 Determinants of demand.
3.2 Demand function and demand curve function
3.3 Market Demand
3.4 Total revenue, average revenue and marginal revenue
3.5 Relationship between the revenue curves
3.6 Elasticity of demand: Price, Income and Cross elasticity of demand

4.1 Technique of demand estimation
4.2 Demand estimation (multiple regression)
4.3 Least squares method
4.4 Interpretation of regression results
4.5 t- statistic
4.6 Coefficient of determination (R2)

5.1 Production function
5.2 Linear and nonlinear (Cobb Douglas Production Function)
5.3 Input-output production tables
5.4 Short-run production
5.5 Law of diminishing marginal returns
5.6 Stages of production
5.7 Optimal employment of a variable input
5.8 Long-run production
5.9 Isoquant and isocost analysis
5.10 Optimal Combinations of Inputs
5.11 Expansion Path
5.12 Returns to Scale

6.1 Types of cost (including Explicit and Implicit Cost)
6.2 Accounting Profit and Economic Profit
6.3 Short-run cost
6.4 Economies of Scale

7.1 Perfect competition
7.1.1 Characteristics
7.1.2 Output and pricing strategies in the short-run and long-run (Diagrams and calculations)
7.2 Monopoly
7.2.1 Characteristics
7.2.2 Output and pricing strategies in the short-run and long-run (Diagrams and calculations)
7.3 Monopolistic competition
7.3.1 Characteristics
7.3.2 Output and pricing strategies in the short-run and long-run. (Diagrams and calculations)
7.4 Oligopoly
7.4.1 Characteristics
7.4.2 Analysis of kinked demand curve model (Diagrams and calculations)

8.1 Price Discrimination (1st, 2nd and 3rd degree)
(Calculation based on 3rd degree only)
8.2 Cost Plus Pricing

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