Coming soon
Intermediate Microeconomics-I
Course Objectives:
The objectives of this course are –
- To acquaint the students with various concepts of Consumer Theory.
- To provide the conceptual clarity related to the concepts of Production and Costs.
- To introduce the students with the topic of market in a perfectly competitive situation.
Course Outcomes (COs):
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Course |
Outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
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|
Paper Code |
Paper Title |
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ECO 311 |
Intermediate Microeconomics-I |
CO32: Understand the optimizing behaviour of consumers in terms of cardinal utility, ordinal utility and revealed preference. CO33: Acquire knowledge of the concepts of production and costs in the short run and long run. CO34: Learn about the market structure – perfect competition. |
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. |
Preference; utility; budget constraint; choice; demand.
Slutsky equation; buying and selling; Revealed Preference.
Choice under risk and uncertainty; intertemporal choice.
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.
Perfect competition-equilibrium of the firm and the industry in short-run and long-run.
Hal R. Varian, Intermediate Microeconomics, a Modern Approach, W.W. Norton and Company/Affiliated East-West Press (India), 8th edition, 2010.
Note- The workbook by Varian and Bergstrom may be used for problems.
