Intermediate Microeconomics-I

Published on Economics (https://www.economics.iisuniv.ac.in)

Intermediate Microeconomics-I [1]

Paper Code:

ECO 311

Credits:

Contact Hours:

60.00

Max. Marks:

100.00

Objective:

1. To acquaint the students with various theories of Consumer Behaviour.

2. To examine the theory of production and costs in the short and long run.

3. To understand the working of a perfectly competitive market

12.00

Unit I:

Consumer Theory - I

Preference; utility; budget constraint; choice; demand.

12.00

Unit II:

Consumer Theory - II

Slutsky equation; buying and selling; Revealed Preference

12.00

Unit III:

Consumer Theory - III

Choice under risk and uncertainty; intertemporal choice.

12.00

Unit IV:

Production and Costs

Technology; isoquants; production with one and more variable inputs; returns to scale.Short run and long run costs; cost curves in the short run and long run.

12.00

Unit V:

Perfect Competition

Perfect competition-equilibrium of the firm and the industry in short-run and long-run.

Essential Readings:

Hal R. Varian, Intermediate Microeconomics, a Modern Approach, W.W. Norton and Company/Affiliated East-West Press (India), 8^th edition, 2014.

References:

1. Nicholson, W. and Snyder, C. M., Intermediate Microeconomics and Its Applications, South-Western, 13^th Edition, 2009.

2. Nicholson, W. and Snyder, C. M., Microeconomic Theory: Basic Principles and Extensions, 10^th ed., Cengage, 10^th Edition, 2014.

3. Kreps, A Course in Microeconomic Theory, Princeton University Press, 1992.

Academic Session:

2022-23 [2]

Source URL: https://www.economics.iisuniv.ac.in/courses/subjects/intermediate-microeconomics-i-2

Links:
[1] https://www.economics.iisuniv.ac.in/courses/subjects/intermediate-microeconomics-i-2
[2] https://www.economics.iisuniv.ac.in/academic-session/2022-23

Intermediate Microeconomics-I [1]

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