Students from various colleges and university can join the course. Contact department of Economics, BB College,Asansol for more details.
The world is characterized by Imperfect Competitive market. This course gives students a view on different form of market structure thus enabling them to understand the firms behaviour in different types of industry. This course provides the basic foundation for understanding firms behaviour in different industry.
This is a 45 hrs certificate course on "An introduction to Imperfect Competitive Market" organised by department of Economics, BB College,Asansol.
1. Price and Output determination – General format for all form of market structure and then classification for each market accordingly.
2. Monopoly – Nature of demand and marginal revenue curve under Monopoly, relationship between Marginal revenue, Average revenue and elasticity, Equilibrium under Monopoly, Monopoly equilibrium and price elasticity of demand, Supply curve not exist in Monopoly, Price discrimination – First degree or perfect price discrimination, second degree or block pricing, third degree or market segmentation. Peak load pricing and inter temporal pricing, Two part tariff and multi plant Monopoly.
3. Bilateral Monopoly – One buyer (Monopsony) and a single seller (Monopoly). Introducing role of trade union in the model.
4. Monopolistic Competition – Equilibrium determination, Excess or unutilized capacity
5. Oligopoly – (Cournot, Bertrand, stackelberg ) – Non Collusive Oligopoly. After that we will introduce Chamberlin’s model of small group firms, where firms will recognized interdependence and how the result of Counot alter. Collusive Oligopoly – Cartel and Price leadership (Dominant firm price leadership, Low cost price leadership, Barometric price leadership).Price rigidity/Kinked demand curve – Paul Sweezy
6. Contestable Market Theory - holds that there are markets served by a small number of firms that are nevertheless characterized by competitive equilibria (and therefore desirable welfare outcomes) because of the existence of potential short-term entrants.
There are several sub-topics in each of five categories; if time permit and participation is active then I will introduce some additional parts later on. Teaching will be not in the same order; it will vary because some section will be cover first to take care of core paper. Proper association will be done once we finish the course. It’s an application base course with numerical examples, so attaining lectures are the most important things in this. Reading will be provided from time to time as per requirement.
Reference
1. Microeconomics by Pindyck &Rubinfeld, 8TH Edition, Chapter 10, 11 & 12
2. Advanced Economic Theory By Tanner Wilkerson, chapter 1
3. The theory of Industrial Organisation by Jean Tirole, Chapter 1,2, 3, 5 & 7 (relevance section).
4. Roger D. Blair, David L. Kaserman and Richard E. Romano (1989).A Pedagogical Treatment of Bilateral Monopoly, Southern Economic Association, Vol. 55, No. 4 (Apr., 1989), pp. 831-841
5. Shepherd, W. (1995). Contestability vs. Competition: Once More. Land Economics, 71(3), 299-309. doi:10.2307/3146348
6. Brock, W. (1983). Contestable Markets and the Theory of Industry Structure: A Review Article. Journal of Political Economy, 91(6), 1055- 1066.
B. B. College, affiliated to Kazi Nazrul University, is one of the leading educational institutions in the area, providing both general and technology-based education. The college boasts of a beautiful campus, spacious classrooms, well-equipped laboratories, state-of-the-art computer facilities, well-stocked libraries and a large playground. It offers undergraduate courses in various subjects of Arts, Commerce and Science streams (both general and honours). The college, in keeping with the changing needs of students, has introduced courses like BBA, BCA, departmental training courses for Dry Farming, Cultivation, Vermi-Composting, Sericulture Training and Soil Water Analysis. Three distance education study centers of IGNOU, NSOU and MAANU also run on campus. We are hopeful that we will be able to nurture generations of enthusiastic learners in the years ahead.
Why study economics as an undergraduate?
B.B.College is the first college to introduce Economics as an honors course in Asansol, started in 1961-62.
The subject Economics can provide valuable information for making choices in ordinary life. It offers several tools to understand the decision that we make based on opportunity cost, feasibility, affordability, rationality, externality and so on. It offers valuable insight based on the benefits and cost of alternative decisions and the likely impact of those decisions.
Economics is the study of allocation of scarce resources by individuals, households,societies, businesses, and the government, to make the world a better place for everyone. Our discipline has two vital structures. First, we develop conceptual models of behavior of each participant to predict responses to changes in market conditions or policy. Second, we use statistical and econometrics analysis to investigate these changes.
Economics as a subject offers numerous career opportunities. It helps to understand regular Job properly, like banking, Business analytics & Own businesses. Students who want to pursue further studies like M.A Economics, MBA get various career options too. Some of these Jobs include; Specialist officer in banking (For ex – NABARD Grade –A,RBI –DEPR Grade –B and so on). Students can join as research associates in various analytics department either in research institute or governmental organization like Nitiaayog. Also, UPSC offers special Indian economic services exam for Student of Economics. So, career wise it’s one of the best options to choose among various subjects.
Naturally,we have a rich alumni of students. They are in various government and non-government positions in different part of India and abroad.
Last but not the least, we have a rich collection of books both in the departmental and central library.
About us
Our Present faculties hold enormous experience of teaching and research. Our faculty includes; Dr. Mousumi Ghosh, Smt. Amrita Pal (H.O.D), Mr. Shashi kr.Shaw and Smt. Mousumi Bakshi. The teachers of the Economics department at B.B.College, Asansol are committed to help students to achieve their dream.
Our mission and vision is to make Economics a lovable subject for students by improving their understanding of the global, national and local economic issues that will confront our society now and in the future. We provide students with better skill to compete in the market at par with different esteemed universities. So, students are welcome to join our Course.
Course Instructor : Shashi Kr Shaw, Assistant Professor Economics, BB College, Asansol.