BFCU-01-BFE-FNE1302– Micro Economics for Entrepreneurs

B. Com (Hons) Finance and Entrepreneurship 2025– 1st Semester

Course Information

Course Duration: First Semester (Fall 2025)

Credit Hours: 60
Meetings: NA
Location:
Prerequisites: NA
Equivalent Courses: NA
Exclusive Courses: NA

Instructor Information

Instructor/s:

Dr. Nutan Shashi Tigga

Biography: https://jgu.edu.in/jsbf/dr-nutan-shashi-tigga/
Email: [email protected]
Office: Savitri Jindal Faculty Block, 3nd Floor, South, Room No. 2A
Office Hours: By appointment (10 AM to 5 PM)

1. Course Description

Micro Economics for Entrepreneurs is an introductory course in economics designed to introduce

beginners to analytical and critical economic thinking. It mainly focuses on concepts of
microeconomics, and it is a precursor to Macro Economics for Entrepreneurs which will focus on
concepts of macroeconomics. The course participants will learn how households (consumers) and
firms (producers) make decisions when they interact with each other in different market structures.
They will learn optimal decision making given the day-to-day constraints. This course can provide
useful insights and tools to analyze the market trends, business opportunities, and find solutions to
economic problems in a variety of business situations.

2. Course Intended Learning Objectives (Aim)

Course Intended Learning Outcomes Teaching and Learning Assessments/

Activities Activities
CLO1 description: A mix of lectures and class A1-A4
To identify and solve basic problems using discussions and case studies/
structured economic frameworks. problem sets
CLO2 description: A mix of lectures and class A1-A4
Analyze and follow economics related discussions and case studies/
articles in the popular press. problem sets
CLO3 description: A mix of lectures and class A1-A4
To understand the limitations of markets as discussions and case
an efficient allocation mechanism and the studies/problem sets
role of the government. .
CLO4 description: A mix of lectures and class A1-A4
To understand consumer choices. discussions and case
studies/problem sets
CLO5 description: A mix of lectures and class A1-A4
To understand firm behaviour. discussions and case
studies/problem sets

3. Scheme of Evaluation and Grading

Evaluation breakup
Assessment Task Weightage Nature Week of Assessment
A1: Quiz 20 Individual Week 9-10
A2: Group Presentations / 20 Group Week 12-14
Problem Set & Viva
A3: Class Participation 10 Individual Week 1-15
A4: End Term 50 Individual End of Semester

A1: Quiz: MCQs, short and long answers

A2: Group Presentations: Group presentations on various case studies. OR Problem Sets- Students
will discuss and solve problem sets in groups and an individual viva-voce will be held.
A3: Class Participation: To ensure diligence & optimize learning, the teaching session will
involve discussion. The discussion responses would feed into the class participation assessment of
the students.
A4: End Term: The end term exam will include descriptive questions, caselets, and numerical
problems.

Grade Definition
The schema of the grade sheet may change. Students will be informed well in advance of any
changes in the schema of the grade sheet.
Letter Percentage Grade Grade Definitions
Grade Of marks Value
O 80 and 8 Outstanding: Exceptional knowledge of the subject matter,
above thorough understanding of issues; ability to synthesize ideas,
rules and principles and extraordinary critical and analytical
ability.
A+ 75-79 7.5 Excellent: Sound knowledge of the subject matter, thorough
understanding of issues; ability to synthesize ideas, rules and
principles and critical and analytical ability.
A 70-74 7 Very Good: Sound knowledge of the subject matter, excellent
organizational capacity, ability to synthesize ideas, rules and
principles, critically analyse existing material and originality
in thinking and presentation.
A- 65-69 6 Good: Good understanding of the subject matter, ability to
identify issues and provide balanced solutions to problems and
good critical and analytical skills.
B+ 60-64 5 Fair: Average understanding of the subject matter, limited
ability to identify issues and provide solutions to problems and
reasonable critical and analytical skills.
B 55-59 4 Acceptable: Adequate knowledge of the subject matter to go
to the next level of the study and reasonable critical and
analytical skills.
B- 50-54 3 Marginal: Limited knowledge of the subject matter and
irrelevant use of materials, and poor critical and analytical
skills.
P1 45-49 2 Pass 1: Pass with Basic understanding of the subject matter.
P2 40-44 1 Pass 2: Pass with Rudimentary understanding of the subject
matter.
(Not applicable to Bachelor of Architecture)
Letter Percentage Grade Grade Definitions
Grade Of marks Value
F Below 40 0 Fail: Poor comprehension of the subject matter; poor critical
and analytical skills and marginal use of the relevant materials.
Will require repeating the course.
P Pass ‘P’ represents the option of choosing between Pass/Fail
grading system over the CGPA grading system in the COVID
19 semester in Spring 2020. The option is provided when
students attain a minimum of 40 percentage marks under the
current grading structure in a given subject.
I Incomplete Extenuating circumstances preventing the student from
completing coursework assessment, or taking the
examination; or where the Assessment Panel at its discretion
assigns this grade. If an “I” grade is assigned, the Assessment
Panel will suggest a schedule for the completion of work, or a
supplementary examination.
4. Academic Integrity
Academic Integrity and Plagiarism: Learning and knowledge production of any kind is a
collaborative process. Collaboration demands an ethical responsibility to acknowledge
who we have learnt from, what we have learned, and how reading and learning from others
have helped us shape our own ideas. Even our own ideas demand an acknowledgement of
the sources and processes through which those ideas have emerged. Thus, all ideas must
be supported by citations. All ideas borrowed from articles, books, journals, magazines,
case laws, statutes, photographs, films, paintings, etc., in print or online, must be credited
with the original source. If the source or inspiration of your idea is a friend, a casual chat,
something that you overheard, or heard being discussed at a conference or in class, even
they must be duly credited. If you paraphrase or directly quote from a web source in the
examination, presentation or essays, the source must be acknowledged. The university has
a framework to deal with cases of plagiarism. All form of plagiarism will be taken seriously
by the University and prescribed sanctions will be imposed on those who commit
plagiarism.

Participation/Attendance Policy: 75% attendance is compulsory. Participation marks are as

per evaluation schema.

Use of phone/ texting/ laptop: Not allowed.

5. Keyword Syllabus

Microeconomics; demand and supply; production; resource utilization; utility analysis

6. Course Material

Mankiw, N. Gregory, Principles of Economics, 8th Edition, 2012

Pindyck, Robert S., Rubinfeld, Daniel L.. (2013). Microeconomics 8th ed. (8th). New
Jersey: Pearson.
Baye, Michael R. and Prince, Jeffrey T. Managerial Economics and Business Strategy, 8th
Edition, McGraw Hill Education.
 7. Session Plan

Session General Topic Readings Approach/P

(with Date) edagogy
Week 1 Themes of Microeconomics: Mankiw, N., Chapter 1 & 2. Lecture/
Resource Allocation Pindyck & Rubinfeld, Ch 1 case study

Week 2 Understanding the concept of Mankiw, N.; Chapter 10, 11& 22. Lecture/
social interactions- Pindyck & Rubinfeld, Ch 2, Ch 4 case study
Markets and State

Case Study: Are lighthouses

public goods?
Week Consumer Behavior and Mankiw, N., Chapter 4 & 5. Lecture/
3, 4, 5, 6 Law of Demand Baye and Jeffrey T. Ch 2, 3 & 4. class
Pindyck & Rubinfeld- Ch 3 discussion
Week 7 Firm’s Cost of Production and Pindyck and Rubinfeld, Ch 7&8 Lecture/
Law of Supply class
discussion
Week 8 & 9 Comparative Static Analysis- Mankiw, N.; Ch 4 & 5 Lecture/
Changes in Demand and Supply Baye, and Jeffrey T. Ch 2,3 & 4 Class
Pindyck & Rubinfeld, Ch 4 & Ch 8 Discussion

Week Market Equilibrium Dynamics: Mankiw, N.; Ch 4, 7, 8, 14, 15,16 Lecture/

10 & 11 Demand & Supply &17 class
Baye, and Jeffrey T. Ch 2,3 & 4 discussion
Pindyck & Rubinfeld, Ch 9
Week 12, Optimal Decision Making- Mankiw, N.; Chapter 13 Lecture/
13 &14 Profit Maximization and Cost Baye, and Jeffrey T. Chapter 5. class
Minimization Pindyck & Rubinfeld, Ch 10, 11, 12 discussion

Week 15 Revision