Course |
Learning outcome (at course level) |
|
Course Code |
Course Title |
|
24ECO 323(A) |
Mathematical Economics-I (Theory) |
Students will - CO85: analyze the various aspects of consumer behavior mathematically, in terms of cardinal and ordinal utility, demand etc. CO86: analyze the various aspects of consumer behavior mathematically, in terms of tradeoff between income and leisure, linear expenditure system, duality in consumption etc. CO87: analyze the various aspects of producer behavior mathematically, in terms of production functions and related aspects CO88: analyze the various aspects of producer behavior mathematically, in terms ofoptimizing behavior of the firm and related aspects CO89: examine the price output determination of firms under perfect competition and monopoly and related aspects CO90: contribute effectively in course-specific interaction. |
· Properties of a well behaved production function -Cobb-Douglas,CESand Leontief Production Functions
· product curves; output elasticity of factor input; properties of an isoquant
. Elasticity of substitution, homogeneous and linearlyhomogeneous production functions, Expansion path
· Perfect Competition: short run and long run equilibrium
· Effects of taxes.
· Monopoly- Profit Maximization, sales revenue maximization, price discrimination,
. Multi-Plant Monopolist, effect of various taxes on output and price under monopoly
Suggested Readings:
E-Resource:
https://www.youtube.com/watch?v=YmORFrNr3gM
Journal: