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Master's of Economics
Semester I
Semester II
Semester III
Semester IV
← Semester I
EC-101
Microeconomics
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Contents
01
Methodology in Economics
Definition and significance of methodology
Philosophical foundations
Methods of analysis
Static, comparative static, and dynamic analysis
02
Scientific Approach in Economics
The scientific method in economics
Economics as a science
Role of assumptions
Falsifiability
Models in economics
General features of economic models
03
Consumer Behaviour and Theory of Demand
Consumer preferences and utility
Budget constraints and equilibrium
Price, income, and substitution effects
Ordinary and compensated demand curves
Indirect utility and expenditure functions
Consumption duality
Revealed preference theory
Lancaster's theory of demand
Linear Expenditure System (LES)
04
Theory of Production
The production function
Production technologies and their properties
Producer's equilibrium
Deriving the cost function
Cost curves
Empirical estimation of cost functions
05
Market Theories
Perfectly competitive markets
Monopoly: price and output
Price discrimination
Multi-plant monopolist
Monopolistic competition
Peak-load pricing, transfer pricing, and dumping
Policy: tax, subsidy, price and quantity rationing
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Syllabus
Library
Library
›
Semester I
›
Microeconomics
∂
Semester I · Subject
Microeconomics
5 of 5 chapters available. Each chapter is one continuous read.
01
Methodology in Economics
4 topics
02
Scientific Approach in Economics
6 topics
03
Consumer Behaviour and Theory of Demand
9 topics
04
Theory of Production
6 topics
05
Market Theories
7 topics