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SYLLABUS
Microeconomics Theory
Objectives
• The objective of this course is to acquaint students with the basic structure of Microeconomic Theory. The course will enable
students to analyse problems in the key areas using appropriate tools. This will equip the students to take managerial decision in
context of microeconomic developments.
S.No. Topics
1. Introduction to Microeconomics
2. Partial vs General Equilibrium Analysis
3. Cardinal Utility Theory
4. Ordinal Utility Analysis: Indifference Curve Analysis
5. Revealed Preference Theory
6. Theory of Demand and Elasticity of Demand
7. Recent Developments in Theory of Demand
8. Producer Behaviour: Theory of Production
9. Theory of Cost and Revenue
10. Production Economics
11. Traditional and Modern Theories of Costs: Derivation of Cost Functions from Production Functions
12. Price and Output Determination – I: Perfect Competition
13. Price and Output Determination – II: Imperfect Competition- Monopoly
14. Monopolistic Competition
15. Theories of Oligopoly: Definition and Nature
16. Cournot Model, Kinked Demand Curve
17. Bain’s Limit Pricing Theory
18. Marginalism and Average Cost Pricing Theory
19. Baumol’s Sales Maximization Hypothesis
