Bachelor of Management Studies (B.M.S.) Business Economics Syllabus - Mumbai University 2026
This is the SY BMS syllabus under NEP 2020, in force from the academic year 2025-26, examined under form 2225161. The University still sets the earlier Choice Based papers alongside it — forms 2M00155 and 2M00156, whose documents are below — so check which scheme your exam form names before you revise.
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Syllabus for Business Economics
MU prints this subject’s marks as “50 Marks/100 Marks” rather than as one figure. It is read here as 100, which is what the University prints against every other 4-credit paper of this degree.
Module I: Introduction and Demand Analysis
- Scope and Importance of Business Economics - basic tools- Opportunity Cost principle- Incremental and Marginal Concepts. Basic economic relations - functional relations: equations- Total, Average and Marginal relations- use of Marginal analysis in decision making, The basics of market demand, market supply and equilibrium price- shifts in the demand and supply curves and equilibrium
- Demand Function - nature of demand curve under different markets Meaning, significance, types and measurement of elasticity of demand (Price, income cross and promotional)- relationship between elasticity of demand and revenue concepts Demand estimation and forecasting: Meaning and significance - methods of demand estimation : survey and statistical methods (numerical illustrations on trend analysis and simple linear regression)
Module II: Supply and Production Decisions and Cost of Production
- Production function: short run analysis with Law of Variable Proportions Production function with two variable inputs- isoquants, ridge lines and least cost combination of inputs- Long run production function and Laws of Returns to Scale - expansion path - Economies and diseconomies of Scale.
- Cost concepts: Accounting cost and economic cost, implicit and explicit cost, fixed and variable cost - total, average and marginal cost - Cost Output Relationship in the Short Run and Long Run (hypothetical numerical problems to be discussed), LAC and Learning curve - Break even analysis (with business applications)
Module III: Market structure: Perfect competition and Monopoly and Pricing and Output Decisions under Imperfect Competition
- Short run and long run equilibrium of a competitive firm and of industry - monopoly - short run and long- run equilibrium of a firm under
- Monopoly Monopolistic competition: Equilibrium of a firm under monopolistic competition, debate over role of advertising (topics to be taught using case studies from real life examples)
- Oligopolistic markets: key attributes of oligopoly - Collusive and non collusive oligopoly market - Price rigidity - Cartels and price leadership models (with practical examples)
Module IV: Unit 4: Pricing Practices
- Cost oriented pricing methods: cost – plus (full cost) pricing, marginal cost pricing, Mark up pricing, discriminating pricing, multiple – product pricing - transfer pricing
- (case studies on how pricing methods are used in business world)
Text Books
- 1 Mehta, P.L.: Managerial Economics – Analysis, Problem and Cases
- 2 Hirchey .M., Managerial Economics, Thomson South western
- 3 Salvatore, D.: Managerial Economics Principles and Worldwide Applications
- 1 Gregory Mankiw., Principles of Economics, Thomson South western
- 2 Samuelson & Nordhas : Economics (Tata McGraw Hill)
- 3 Pal Sumitra, Managerial Economics cases and concepts (Macmillan)
Reproduced from the University of Mumbai syllabus for Bachelor of Management Studies (B.M.S.) under NEP 2020, in force from the academic year 2025-26. Wording is as printed in that syllabus. Module numbering is as printed there too.
The complete syllabus
This subject is cut from the University circular for its year. Open a document here if you want the whole thing rather than a single subject.