Prof. Md. Aynul Islam, Ph.

D
Department of Economics
Jagannath University
Dhaka, Bangladesh.
Mobile # 01712-933041,
E-mail # aynulku@gmail.com

&
Former Treasurer
Jatio Kabi Kazi Nazrul Islam University,
Trisal, Mymensingh.
&
Former Syndicate Member
Jagannath University, Dhaka
Jatiyo Kabi Kazi Nazrul Islam
University,Trisal, Mymensingh.
Begum Rokeya University,Rangpur
&
Former Dean
Faculty of Arts and Social Science,
Begum Rokeya University,Rangpur.
Faculty of Sciences & Engineering,
Jatio Kabi Kazi Nazrul Islam
University,Trisal, Mymensingh.
&
Former Chairman
Department of Economics
Islamic University
Kushtia, Bangladesh.
Department of Economics
Begum Rokeya University,Rangpur.

Course Title: Business Economics

Course Code: MBA 2015 A & B
Credits: 03
Prof. Dr. Md. Aynul Islam
Department of Economics
Jagannath University, Dhaka
&
Adjunct Professor
Bangladesh University of Professionals
e-mail: aynulku@gmail.com
Phone: 0171293341

Course Objectives:
This is the introductory course on Business Economics and will be focused to achieve
the following objectives:

Developing conceptual framework of Business Economics (BE).

Knowing the historical perspectives and thoughts of BE to generate views toward

the future.

Conceptualization of BE terminologies and their impacts on business

organizations.
Understanding how our daily life is related with BE theories and practices to
strengthen the logic of studying BE.

Enhancing understandability to frame BE strategies in a continuously changing

global business scenario.

Major Text:
1.
2.
3.
4.
5.
6.
7.

Paul A. Samuelson and W. D. Nordhaus: Economics, 17th Edition.

N. G. Mankiw: Principles of Microeconomics, 6th Edition.
M. Parkin and R. Bade: Microeconomics, 6th Edition, 2003, Addison Wesley.
J. E. Stiglitz: Principles of Macroeconomics, 2nd Edition, 1997, Norton & Company, Inc.
N. G. Mankiw: Principles of Macroeconomics, 4th Edition.
M. Parkin and R. Bade: Macroeconomics, 6th Edition, 2003, Addison Wesley
Richard Lipsey & Alec Chrystal Economics, 17th Edition.

COURSE OUTLINE ON BUSINESS ECONOMICS

Week
1

Lecture
1

Topics

Introducing;
Course
outline
and
other
aspects of the course.

Teacher
Dr. Aynul

Conceptual Issues:

Dr. Aynul

Conceptual Issues:

Dr. Aynul

Analysis of Demand &

Supply:.

Dr. Aynul

Analysis of Demand & Dr. Aynul

Supply: Meaning of
Supply;
Law
of
Supply;
Supply
Schedule & Supply
Curve; Exceptions to
the law of supply;
Causes of upward
sloping supply curve;
Determinants of supply
for
a
commodity;
Changes in supply.

Discussion Topics

Definitions, Nature, Scope &

Subject Matters of Economics
Classical, Neo-classical &
Modern stages of Economics;
Importance of studying
Economics; Relationship
between Economics &
Business;
Executives & their objectives;
Some concepts of Economics Goods, Services, Welfare,
Utility, Production, Income,
Savings, Investment, Value,
Price, Consumption,
Equilibrium.
Meaning & types of Demand;
Law of Demand; Demand
Schedule & Demand Curve;
Exceptions to the law of
demand; Causes of downward
sloping
demand
curve;
Determinants of demand for a
commodity;
Changes
in
demand
Meaning of Supply; Law of
Supply; Supply Schedule &
Supply Curve; Exceptions to
the law of supply; Causes of
upward sloping supply curve;
Determinants of supply for a
commodity;
Changes
in
supply.

Utility Analysis &

Elasticity: Meaning of
elasticity of demand;
Classification of
elasticity of demand;
Meaning of elasticity
of supply.

Dr. Aynul

Meaning of elasticity of
demand; Classification of
elasticity of demand; Meaning
of elasticity of supply

Utility Analysis & Dr. Aynul

Elasticity: Law of
Diminishing Marginal
Utility,
Basic
assumptions of the law;
Practical importance of
the law; Limitations of
the law.

Law of Diminishing Marginal

Utility, Basic assumptions of
the law; Practical importance
of the law; Limitations of the
law.

Theory of Production: Dr. Aynul

Meaning of production;
Factors of production
with special reference
to Bangladesh; Scale of
production
- Large
Scale Production &
Small
Scale
Production.

Meaning
Factors of
special
Bangladesh;
production
Production
Production.

Theory of Production: Dr. Aynul

Cost of Production;
Different types of cost
& their relationship Fixed Cost, Variable
Cost,
Total
Cost,
Average Cost, Marginal
Cost;
Theory of Production: Dr. Aynul
Opportunity Cost and
Production Possibility
Frontier
Theory;
Concept
of
Entrepreneur
&
Entrepreneurship
Development;

Cost of Production; Different

types of cost & their
relationship - Fixed Cost,
Variable Cost, Total Cost,
Average Cost, Marginal Cost;

10

of
production;
production with
reference
to
Scale
of
- Large Scale
& Small Scale

Opportunity
Cost
and
Production Possibility Frontier
Theory;
Concept
of
Entrepreneur
&
Entrepreneurship
Development;

11

Theory of Production: Dr. Ainul

Problems
of
entrepreneurship
development
in
Bangladesh and their
solutions.
Market
System: Dr. Aynul
Definition
&
characteristics
of
market; Functions of
market; Classification
of market on the basis
of time, place &
competition;
Perfect
Market & Imperfect
Market;
Market
System: Dr. Aynul
Monopoly Market &
Monopolistic
Competition Market;

Problems of entrepreneurship
development in Bangladesh
and their solutions.

14

Market
System: Dr. Aynul
Oligopoly Market &
Duopoly
Market;
Determination
price
and income in market
system.

Oligopoly Market & Duopoly

Market; Determination price
and income in market system.

15

National
Income: Dr. Aynul
Definition of national
income; Concept of
GDP, GNP, NNP; Net
Economic
Welfare
(NEW); Methods and
techniques of national
income measurement;

Definition of national income;

Concept of GDP, GNP, NNP;
Net
Economic
Welfare
(NEW);
Methods
and
techniques of national income
measurement;

12

13

Definition & characteristics of

market; Functions of market;
Classification of market on the
basis of time, place &
competition; Perfect Market &
Imperfect Market;

Monopoly
Monopolistic
Market;

Market
&
Competition

10

16

National Income: Net Dr. Aynul

Economic
Welfare
(NEW); Methods and
techniques of national
income measurement;
Importance of national
income analysis;

Economic Welfare (NEW);

Methods and techniques of
national income measurement;
Importance of national income
analysis;

17

Wages & Trade Union: Dr. Aynul

Definition of wages;
Money wage & real
wage; Determinants of
wages

Definition of wages; Money

wage
&
real
wage;
Determinants of wages

18

Wages & Trade Union: Dr. Aynul

Major Theories of
Wages - Subsistence
Theory, Wage Fund
Theory,
Residual
Theory, Demand &
Supply Theory; Role of
trade
union
for
determining wages.

Major Theories of Wages Subsistence Theory, Wage

Fund Theory, Residual Theory,
Demand & Supply Theory;
Role of trade union for
determining wages.

19

Money and Inflation: Dr. Aynul

Concept of money;
Functions of money;
International monetary
system.

Concept of money; Functions

of
money;
International
monetary system.

20

Money and Inflation: Dr. Aynul

Meaning and causes of
inflation; Effects of
inflation; Methods for
controlling
inflation
with special reference
to Bangladesh.

Meaning and causes of

inflation; Effects of inflation;
Methods
for
controlling
inflation with special reference
to Bangladesh.

11

21

12

22
23

13

National
Income: Dr. Aynul
National
income
measurement
in
Bangladesh; Problems
of national income
measurement
with
special reference to
Bangladesh.
Midterm Examination- Dr. Aynul
Banking
System: Dr. Aynul
Concept of banking
system; Evolution of
banking
system;
Classification of bank;
Definition
and
functions of Modern
Commercial Bank.

National income measurement

in Bangladesh; Problems of
national income measurement
with special reference to
Bangladesh.

24

Banking
System: Dr. Aynul
Definition
and
functions of Central
Bank;
Comparative
analysis of different
banking system.

Definition and functions of

Central Bank; Comparative
analysis of different banking
system.

25

Economic
System: Dr. Aynul
Meaning of economic
system;
Definition,
features, merits &
demerits of different
economic
systemCapitalistic economic
system,

Meaning of economic system;

Definition, features, merits &
demerits of different economic
system- Capitalistic economic
system,

26

Economic
System: Dr. Aynul
Socialistic
economic
system,
Mixed
economic
system;
Comparative analysis
of different economic
systems.

Socialistic economic system,

Mixed
economic
system;
Comparative
analysis
of
different economic systems.

Concept of banking system;

Evolution of banking system;
Classification
of
bank;
Definition and functions of
Modern Commercial Bank.

14

15

16

27

Economic
Dr. Aynul
Development:
Meaning & features of
development,
underdevelopment and
economic development

Meaning & features of

development,
underdevelopment
and
economic development

28

Economic
Dr. Aynul
DevelopmentDetermin
ants
of
economic
development;
Relationship between
development
and
growth.

Economic
DevelopmentDeterminants of
economic
development;
Relationship
between
development and growth.

29

Economic
Dr. Aynul
Development:
Rostovs Stages of
Economic Growth &
its applicability in
Bangladesh, Role of
government
in
economic development.

Rostovs Stages of Economic

Growth & its applicability in
Bangladesh,
Role
of
government
in
economic
development.

30

Economic
Dr. Aynul
Development:
Rostovs Stages of
Economic Growth &
its applicability in
Bangladesh, Role of
government
in
economic development.

Rostovs Stages of Economic

Growth & its applicability in
Bangladesh,
Role
of
government
in
economic
development.

31

Globalization
and Dr. Aynul
International Business:
Concept
of
Globalization; Market
Economy & Command
Economy; Meaning of
international business;
Causes of international
business;

Concept of Globalization;
Market Economy & Command
Economy;
Meaning
of
international business; Causes
of international business;

32

Globalization and
International Business:
Barriers & Problems
of international
business; Role of
international business
for ensuring economic
development.

Dr. Aynul

Barriers &Problems
of
international business; Role of
international business for
ensuring
economic
development.