Syllabus
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Course Code: CC-1 IN-ECX-101 Course Name: Micro Economics-I |
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| MODULE NO / UNIT | COURSE SYLLABUS CONTENTS OF MODULE | NOTES |
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| 1 | (i-a) Introduction: Definition & Nature of Economics; Subject matter of Economics: human behavior or product behavior (Robbins’ Definition) Basic Problems of an economy (1-b) Fundamental economic Terms: Marginalist Rule, Opportunity cost, Time Value of Money |
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| 2 | (ii-a) Consumer Behavior- Law of equi-marginal utility; Indifference Curve analysis: Consumer Equilibrium (ii-b ) Law of Demand; Types of Goods (Ordinary and Giffen); Elasticity of Demand (Price, Income and Cross) |
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| 3 | (iii-a) Theory of Production: Theory of Cost (Traditional & Modern), Concepts of Revenue. ; Isoquants & least-cost Combination; Laws of returns & economies of scale (iii-b) Supply and Law of Supply;Types of supply, Elasticity of supply. |
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| 4 | (iv-a) Markets-firm’s and industry’s equilibrium in Perfect competition (iv-b) Monopoly: Monopoly market, price discriminating monopoly (first, second & third degree Price Discrimination), Monopolistic Competition: Firm’s equilibrium (Chamberlin’s model) |
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