(Hons.)
(Hons.)
Unit 2: Calculus-I
Concepts and rules of differentiation. Concept of Marginal Analysis: Marginal Revenue,
Marginal Cost. Concept of Elasticity of demand and supply. Application of Maxima and Minima
problems: Revenue, Cost, Profit, Economic Order Quantity, Optimal trade in time.
Unit 3: Calculus-II
Partial Differentiation: Partial derivatives up to second order. Homogeneity of a function and
Euler's theorem. Production Function: Returns to factor, Returns to scale. MRTS and Elasticity
of Substitution. Application of Maxima and Minima problems involving two independent
variables. Integration: Nature of commodities and partial elasticity of demand, Applications of
marginal analysis, Consumer Surplus and Producer Surplus.
Practical Exercises:
The learners are required to:
1. Assess the use of matrices in evaluating competing alternatives.
2. Apply differential calculus to solve hypothetical business problems.
3. Evaluate business problems as an application of linear programming.
4. Gather information about various deposit and loan schemes of banks to find out interest
rate differentials, and compounded value.
5. Gather information about annuity schemes in the investment markets like periodic home
mortgage payments, insurance payments and pension payments, life insurance products as an
annuity.
6. Identify the decision-making variables and assess their functional relationship with other
variables affecting the decision in a hypothetical business and economic situation.
7. Develop programming for hypothetical business problems involving constrained
optimisation.
Practical Exercises :
1. Analyse the marketing environment of any firm of your choice.
2. Prepare a marketing mix for a product of your choice to be targeted to a rural market.
3. Select any product and analyse its segmentation strategy in comparison to its immediate
competitive product.
4. Examine the marketing strategies followed by companies to prolong the maturity stage and
defer its decline.
5. Suggest an appropriate distribution strategy of a product of your choice. 6. Draft promotion
mix strategy for a hypothetical e-commerce firm