Apply Online
IIS University

Admissions

It is a University which is committed to excellence and overall development of the student and one where talent is nurtured and honed in the best possible manner. Come, be a part of our never-ending journey of accomplishments and accolades.

Psychometric Counselling Tele-Counselling E-mail Counselling Subject Counselling International Admissions
Placement Placements Go Down
Life@IIS Univ Life@IIS Univ Go Down
Academics Go Down
Research Go Down
About-Us Go Down
University Status

Admissions

It is a University which is committed to excellence and overall development of the student and one where talent is nurtured and honed in the best possible manner. Come, be a part of our never-ending journey of accomplishments and accolades.

Read More

Placements

Excellent education not only imparts knowledge, but also paves the way for a promising and successful career. The Placement Cell at The IIS University has numerous success stories to narrate in this regard...

Read More

Life@IIS Univ

Life @ IISU is nothing less than a kaleidoscope of myriad hues; complete with vibrant events and memorable occasions to cherish for a lifetime.

Read More

Academics

Taking the age-old tradition of enlightenment through education forward, The IIS University - in its continuous pursuit of excellence - firmly believes that an institution’s academic profile determines its worth and value. Therefore, on offer are a wide variety of both conventional and contemporary programmes of study.

Read More

Research

To stimulate curiosity and cater to the global needs of a dynamic education, The IIS University - since inception - has been promoting and encouraging research-based experiential learning among all its students.

Read More

About Us

The IIS University, with its perfect amalgamation of innovation, inspiration and synergy, aims to be a model institution for students across disciplines and programmes.

Read More
IIS Univ
  • Admissions

    It is a University which is committed to excellence and overall development of the student...

  • Placements

    Excellent education not only imparts knowledge, but also paves the way for...

  • Life@IIS Univ

    Life @ IISU is nothing less than a kaleidoscope of myriad hues; complete with...

  • Academics

    Taking the age-old tradition of enlightenment through education forward,...

  • Research

    To stimulate curiosity and cater to the global needs of a dynamic education,...

  • About Us

    The IIS University, with its perfect amalgamation of innovation, inspiration...

IIS (Deemed to be University)

Gurukul Marg, SFS, Mansarovar, Jaipur 302020, (Raj.) India

Phone:- +91-141-2400160-61, 2397906-07,

Fax: 2395494,2781158, Toll Free No.: 1800 180 7750

Micro Economics -II | Economics

Micro Economics -II

Error message

  • Warning: ini_set(): Headers already sent. You cannot change the session module's ini settings at this time in drupal_environment_initialize() (line 691 of /home/iisunivac/public_html/includes/bootstrap.inc).
  • Warning: ini_set(): Headers already sent. You cannot change the session module's ini settings at this time in drupal_environment_initialize() (line 692 of /home/iisunivac/public_html/includes/bootstrap.inc).
  • Warning: ini_set(): Headers already sent. You cannot change the session module's ini settings at this time in drupal_environment_initialize() (line 693 of /home/iisunivac/public_html/includes/bootstrap.inc).
  • Warning: ini_set(): Headers already sent. You cannot change the session module's ini settings at this time in drupal_environment_initialize() (line 698 of /home/iisunivac/public_html/includes/bootstrap.inc).
  • Warning: ini_set(): Headers already sent. You cannot change the session module's ini settings at this time in drupal_environment_initialize() (line 702 of /home/iisunivac/public_html/includes/bootstrap.inc).
Paper Code: 
ECO 401
Credits: 
3
Contact Hours: 
45.00
Objective: 

1.    To illustrate the process of determination of equilibrium price and output in different market situations; and
2.    To understand the concept used in factor pricing.

7.00
Unit I: 
Cost and Revenue
  • Short- run cost curves and their relationship;
  • Cost in the long- run: LAC and LMC;
  • Economies and diseconomies of scale;
  • Revenue: Total, average and marginal revenue and their relationships;
  • Relationship between TR, MR, AR and elasticity.
9.00
Unit II: 
Theory of Firm I

•    Equilibrium of the firm: TR - TC approach and MR - MC approach;
•    Perfect competition: Determination of price and output in the short and long run;
•    Monopoly: Determination of price and output in the short and long run.

9.00
Unit III: 
Theory of Firm II

•    Monopoly: Price discrimination, measure of monopoly power;
•    Monopolistic competition: determination of price and output in the short- and long- run, excess capacity;
•    Oligopoly: Basic concept of non-collusive and collusive oligopoly, Paul M. Sweezy model.

10.00
Unit IV: 
Factor Pricing I

Marginal Productivity Theory of Distribution:
•    Factor pricing in perfectly competitive markets;
•    Factor pricing in imperfectly competitive markets.
Interest :
•    Classical  & Keynesian Theories.

10.00
Unit V: 
Factor Pricing II

Rent:
•    Ricardian theory of rent;
•    Modern theory of rent;
•    Quasi rent.
Profit:
•    Innovation, risk and uncertainty theories.
 

Essential Readings: 

1.    H.L. Ahuja, Micro Economic Theory, S. Chand & Company, New Delhi.

2.    Seth, M.L., Micro Economics, Laxmi Narayan Agarwal, Agra.
 

References: 

1.    Gould J.P. and C.F. Ferguson, Micro Economic Theory, All India Traveler Book Sellers, Delhi.

2.    Koutsoyiannis, A. (1999), Modern Microeconomics, Macmillan.

3.    Varian, H.R. (2000), Intermediate Microeconomics: A Modern Approach, East-west Press, New Delhi.

4.    Lipsey, R.G. (Latest edition), An Introduction to positive Economics.

5.    Stonier, A.W. and D.C. Hague (1972), A Textbook of Economics Theory, ELBS and Longman Group, London.

 

Academic Session: 
2018-19
  • Printer-friendly version
  • PDF version