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    Eco111 PDF

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    Amir khan
    This document outlines the course objectives and units for an introductory microeconomics course. The course aims to help students understand consumer choices, firm behavior in different market structures, and apply economic theory to decision making. The six units cover topics such as supply and demand analysis, consumer choice theory, production costs, market structures like perfect competition, monopoly, and oligopoly. Evaluation is based on exams, assignments, and a final exam. The primary textbook is Microeconomics Theory and Applications.

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    Eco111 PDF

    Uploaded by

    Amir khan
    1K views2 pages
    This document outlines the course objectives and units for an introductory microeconomics course. The course aims to help students understand consumer choices, firm behavior in different market structures, and apply economic theory to decision making. The six units cover topics such as supply and demand analysis, consumer choice theory, production costs, market structures like perfect competition, monopoly, and oligopoly. Evaluation is based on exams, assignments, and a final exam. The primary textbook is Microeconomics Theory and Applications.

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    This document outlines the course objectives and units for an introductory microeconomics course. The course aims to help students understand consumer choices, firm behavior in different market structures, and apply economic theory to decision making. The six units cover topics such as supply and demand analysis, consumer choice theory, production costs, market structures like perfect competition, monopoly, and oligopoly. Evaluation is based on exams, assignments, and a final exam. The primary textbook is Microeconomics Theory and Applications.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    1K views2 pages

    Eco111 PDF

    Uploaded by

    Amir khan
    This document outlines the course objectives and units for an introductory microeconomics course. The course aims to help students understand consumer choices, firm behavior in different market structures, and apply economic theory to decision making. The six units cover topics such as supply and demand analysis, consumer choice theory, production costs, market structures like perfect competition, monopoly, and oligopoly. Evaluation is based on exams, assignments, and a final exam. The primary textbook is Microeconomics Theory and Applications.

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    © All Rights Reserved
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    of 2

    ECO111:MICRO ECONOMICS

    L:3 T:1 P:0 Credits:4

    Course Outcomes: Through this course students should be able to

    • Understanding the determinants of consumer choices, including inter-temporal choices


    and those involving risk.

    • Describing how firm's behaviour differs in different market structures and may help to
    determine those structures.

    • Integrating the knowledge of the economic theory with decision-making techniques.

    • Applying economic reasoning to individual and firm behaviour.

    Unit I
    Introduction to Economics : Positive and Normative economics definition, Scope
    and Importance of business economics concepts, Uses and Limitations of
    Microeconomic Thoeries
    Demand and Supply Analysis : Introduction to demand, Law of demand, Shift and
    movement in the demand curve, Price, income and cross elasticity., Market
    Equilibrium, Elasticity of demand, Exceptions of the law of demand., Law of supply:
    shift and movements, Determinant of supply and supply function
    Unit II
    Consumer preferences and choice : Cardinal and ordinal concepts of utility,
    Indifference curve and its applications, Special types of indifference curve,
    Constraints of budget, Consumer's equilibrium, Income, price and substitution effect
    Unit III
    Production Theory : Introduction to production function, Types of inputs, Total,
    Marginal and Average Product, Production Function with one variable and more than
    one variable, Iso cost lines, Isoquants, Return to factor and Return to scale
    Economic concept of cost : Kinds of costs, Difference between cost in accounting
    and economics, Average and Marginal concepts in Cost in long and short run,
    Relationship between average cost curves- Long Run and Short Run, Economies and
    diseconomies of Scale, Economies of scope
    Unit IV
    Revenue Analysis : Revenue Curves, Relationship between Revenue curves

    Perfect Competition : Introduction and features of Perfect Competition, Short Run


    and long run equilibrium
    Unit V
    Monopoly : Introduction and features, Price discrimination, Price and output
    determination in short run & long run., Price and output decisions under
    discriminating monopoly, Types of monopoly
    Unit VI
    Monopolistic Competition : Introduction to monopoly and its features, Price and
    output determination in short and long run, Role of advertising in monopolistic
    competition
    Oligopoly : Introduction to oligopoly and its features, Kinked demand curve model

    Text Books:

    1. MICROECONOMICS THEORY AND APPLICATIONS by D.N. DWIVEDI, PEARSON

    References:

    1. MANAGERIAL ECONOMICS: AN INTEGRATIVE APPROACH by HIRSHEY, MARK,


    CENGAGE LEARNING

    Page:1/2 Print Date : 11/26/2016 7:55:04 PM


    References:

    2. MICRO ECONOMICS by SALVATORE DOMINICK, OXFORD UNIVERSITY PRESS

    3. ADVANCED ECONOMIC THEORY. MICRO ECONOMIC ANALYSIS by AUJA H.L, S.


    CHAND & COMPANY

    Page:2/2 Print Date : 11/26/2016 7:55:04 PM

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