1. To orient the students with the advanced knowledge of microeconomic theory
2. To help the students understand the theories related to utility, production and cost
3. To describe the theories related to markets, average cost pricing and limit pricing
Course Code |
Course Title |
Learning outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
24DECO 701 |
Advanced Microeconomic Theory-I (Theory) |
Students will: CO61: analyze various aspects of utility analysis. CO62: analyze theories and concepts related to production and cost analysis. CO63: analyze perfect competition and monopoly CO64: analyze monopolistic competition and oligopoly CO65: analyze average cost and limit pricing theories, CO66: contribute effectively in course-specific interaction |
Approach in teaching: Interactive Lectures, Discussion, Case studies.
Learning activities for the students: Presentations, Assignments and Group discussions. |
Class activity, Assignments and Semester end examinations. |
· The marginalist controversy,
· Full-cost pricing principle,
· Gorden’s attack on and defence of marginalism,
· Representative model of average-cost pricing,
· Difference between average cost and marginal cost price
· Bain’s limit-pricing theory,
. Models of Sylos-Labini, Franco Modigliani, Bhagwati and Pashigian
Suggested Readings:
E-Resources:
1. libguides.reading.ac.uk/economics/e-resources
2. journals.indexcopernicus.com/api/file/---
3. ir.inflibnet.ac.in:8443/ir/bitstream/1944
4. worldwidescience.org/topicpages/e/economics+electronic+resource.html
Journals
https://www.jstor.org/journal/aejmicrecon
2. Journal of Economics,
https://www.springer.com/journal/712