BEY-002 IGNOU Handwritten Assignment 2026-27

Course Scope & Syllabus Overview: BEY-002 Business Economics for Decision Making

BEY-002 is a core course under IGNOU’s Bachelor’s Programme in Business Economics, designed to equip students with analytical tools for strategic decision-making in contemporary business environments. The syllabus integrates microeconomic theory with applied business scenarios, emphasizing demand analysis, cost-benefit frameworks, and policy implications. Through case studies and numerical problem-solving, students develop proficiency in interpreting market dynamics, optimizing resource allocation, and evaluating economic policies—skills critical for roles in corporate planning, public sector economics, and consultancy.

Key Syllabus Units & Topics

• Unit 1: Introduction to Business Economics: Covers foundational concepts such as scarcity, opportunity cost, and the role of economics in business strategy, including demand theory and consumer behavior models (e.g., indifference curves, budget constraints).
• Unit 2: Theory of Production and Cost: Explores production functions, short-run vs. long-run cost curves, and economies of scale, with practical applications in cost-volume-profit analysis and break-even point determination.
• Unit 3: Theory of the Firm under Perfect and Imperfect Competition: Analyzes market structures (monopoly, oligopoly, monopolistic competition) using marginal revenue, price discrimination, and game theory principles.
• Unit 4: Price Determination in Different Markets: Focuses on supply-side factors (e.g., elasticity of supply, production decisions) and equilibrium price formation, with emphasis on agricultural and industrial markets.
• Unit 5: Business Economics and Public Policy: Examines government interventions (taxes, subsidies, regulations) and their impact on market efficiency, including trade policies and anti-trust laws.

Frequently Asked Questions

Q: What is the weightage of assignments in the BEY-002 final examination?
A: Assignments account for 30% of the total marks in BEY-002, while the term-end theory paper carries 70%. Clear, structured answers to assignment questions directly contribute to this weighted score.

Q: Are numerical problems in BEY-002 based on real-world business scenarios, or are they purely theoretical?
A: The syllabus includes both theoretical and applied numericals, such as cost-benefit analysis for business projects, demand elasticity calculations, and profit-maximization problems using marginal revenue curves—mirroring actual decision-making frameworks.