Vous êtes sur la page 1sur 6

LISTOFTOPICSCOVEREDINMICROECONOMICSINTERMI

SESSIONS1,2,3AND4

INTRODUCTIONTOMICROECONOMICS
DistinctionbetweenMicroeconomicsandMacroeconomics
ScopeofMicroeconomics
PositiveEconomicsv/sNormativeEconomics

Suggestedreadings:
RobertS.Pindyck,DanielL.RubinfeldandPremL.Mehta(2009),Microecononics,7/e
PearsonEducation,Chapter1.
Classnotes.

DEMANDANDSUPPLY
ConceptsofDemandandSupply
DefinitionofMarket
DeterminantsofIndividualDemand
LawofDemand
DistinctionbetweenIndividualDemandandMarketDemand
DistinctionbetweenChangeinDemandandChangeinQuantityDemand
ExceptionstotheLawofDemand
DeterminantsofIndividualSupply
LawofSupply
DistinctionbetweenIndividualSupplyandMarketSupply
DistinctionbetweenChangeinSupplyandChangeinQuantitySupplied
MarketEquilibrium
ShiftsofDemandandSupplyCurvesComparativeStaticAnalysis

Suggestedreadings:
RobertS.Pindyck,DanielL.RubinfeldandPremL.Mehta(2009),Microecononics,7/e
PearsonEducation,Chapters2and4.
Classnotes.

ELASTICITY
ConceptofElasticity
PriceElasticity
ArcElasticity
PointElasticity
MeasurementofPriceElasticityataPointontheDemandCurve
PriceElasticityandElasticityofDemand(Elastic,InelasticandUnitaryElastic)
Page1of6

RelationbetweenSlopeandPriceElasticity
PriceElasticityandVarietyofDemandCurves
ExpenditureMethodofmeasuringPriceElasticity
ShortRunandLongRunPriceElasticities(DistinctionbetweenDurableandNonDurable
Goods)
IncomeElasticity
DistinctionbetweenNormal,Inferior,LuxuryandNecessaryCommoditiesusingIncome
Elasticity
CrossElasticity
DistinctionbetweenSubstitutesandComplementsusingCrossElasticity
Problems

Suggestedreadings:
RobertS.Pindyck,DanielL.RubinfeldandPremL.Mehta(2009),Microecononics,7/e
PearsonEducation,Chapters2and4.
Classnotes.

NOTE:TopicscoveredinSessions14wascapturedinQuiz1.

SESSIONS5,6,7,8AND9

ELASTICITYContd.
ElasticityofSupply
MeasurementofElasticityofSupplyataPointontheSupplyCurve
FactorsinfluencingElasticityofSupply

Suggestedreadings:
RobertS.Pindyck,DanielL.RubinfeldandPremL.Mehta(2009),Microecononics,7/e
PearsonEducation,Chapter2.
Classnotes.

CONSUMERBEHAVIOUR
Objectives
TheoriesofConsumerBehaviour
HicksAllensIndifferenceCurveApproach
ConceptofUtility
DistinctionbetweenTotalUtilityandMarginalUtility
ThreeAxiomsofChoice(AxiomofCompleteness,AxiomofDominance/NonSatietyand
AxiomofTransitivity)
Page2of6

ConceptofIndifferenceCurve
AssumptionsofIndifferenceCurveApproach
PropertiesofIndifferenceCurve
IndifferenceCurve:SpecialCases
ConceptofBudgetLine
EquilibriumoftheConsumer
PriceConsumptionCurve(PCC)
PriceConsumptionCurveandPriceElasticityofDemand
IncomeConsumptionCurve(ICC)
IncomeConsumptionCurveandIncomeElasticityofDemand(Distinctionbetween
NormalandInferiorCommodities)
DecompositionofthePriceEffectintoSubstitutionandIncomeEffects(Hicksv/s
Slutsky)
DistinctionbetweenCompensatingVariationinIncomeandCostDifference(Hicksv/s
Slutsky)
DistinctionbetweenNormal,InferiorandGiffenCommodities
EngelCurve
CornerSolution
DerivationoftheDemandCurvefromPCC
Problems

Suggestedreadings:
RobertS.Pindyck,DanielL.RubinfeldandPremL.Mehta(2009),Microecononics,7/e
PearsonEducation,Chapters3and4.
Classnotes.

NOTE:TopicscoveredinSessions59wascapturedinQuiz2.

SESSIONS10,11,12,13,14AND15

THEORYOFPRODUCTION
MeaningofProductionFunction
FormsofProductionFunction:FixedandVariableProportionProductionFunction
DistinctionbetweenShortRunandLongRun/VariableandFixedFactorsofProduction
ConceptsofTotalProduct,AverageProductandMarginalProduct
ConceptofAverageReturn
ConceptofOutputElasticityofLabour
ThreeStagesofProduction
ConceptofIsoquants
PropertiesofIsoquants
EconomicZoneofProduction:ConceptofRidgeLines
Page3of6

ObjectiveoftheProducer
ConceptofReturnstoScale
DistinctionbetweenIRS,CRSandDRS
ConceptofScaleElasticityofOutput
ElasticityofSubstitution
CobbDouglasProductionFunction
PropertiesofCobbDouglasProductionFunction
Problems

Suggestedreadings:
RobertS.Pindyck,DanielL.RubinfeldandPremL.Mehta(2009),Microecononics,7/e
PearsonEducation,Chapters5.
Classnotes.

THEORYOFCOST
MeaningofCostFunction
DerivationofCostFunctionfromProductionFunction
ShortRunCostFunction
VariousShortRunCostFunctions:TFC,TVC,STC;AFC,AVC,ATC;SMC
RelationbetweenANYTotal,AverageandMarginal
LongRunCostFunction
VariousLongRunCostFunctions:LTC,LACandLAC
DerivationofLTCfromcorrespondingSTCs/DerivationofLACfromcorrespondingSACs:
EnvelopeTheorem
ConceptofExpansionPath
DistinctionbetweenShortRun&LongRunExpansionPaths
LTC&LACunderCobbDouglasProductionFunction
ExpansionPathunderCobbDouglasProductionFunction
EconomiesofScope
LearningCurve
LearningV/sScale
Problems

Suggestedreadings:
RobertS.Pindyck,DanielL.RubinfeldandPremL.Mehta(2009),Microecononics,7/e
PearsonEducation,Chapter6.
Classnotes.

NOTE:TopicscoveredinSessions1015wascapturedinQuiz3.

Page4of6

SESSION16

THEORYOFFIRM
ConceptsofTotalRevenue(TR),AverageRevenue(AR)andMarginalRevenue(MR)
RelationbetweenARandMRthroughPriceElasticityofDemand
Profitfunction
ConditionsofProfitMaximization
ClassificationoftheMarketStructure

Suggestedreadings:
RobertS.Pindyck,DanielL.RubinfeldandPremL.Mehta(2009),Microecononics,7/e
PearsonEducation,Chapter7.
Classnotes.

SESSIONS17AND18

PERFECTCOMPETITION
AssumptionsoftheMarket
DistinctionbetweenPureCompetitionandPerfectCompetition
EquilibriumConditionsofafirm:ShortRun
DistinctionbetweenShutDownandBreakEvenPoint
SupplyCurveofaFirm(ShortRun)
SupplyCurveoftheIndustry(ShortRun)
EquilibriumConditionsofaFirm:LongRun
ConceptofNormalProfit
IndustrySupplyCurve(LongRun
DistinctionbetweenConstant,IncreasingandDecreasingCostIndustries
MeaningofExternalEconomies&ExternalDiseconomies
Problem

Suggestedreadings:
RobertS.Pindyck,DanielL.RubinfeldandPremL.Mehta(2009),Microecononics,7/e
PearsonEducation,Chapter7.
Classnotes.

SESSION19

CONSUMERSURPLUS,PRODUCERSURPLUS&DEADWEIGHTLOSS

ConceptsofConsumerSurplus(CS),ProducerSurplus(PS)andDeadWeightLoss(DWL)
ImpositionofPriceCeilingandimpactofCS,PSandDWL
ImpositionofMinimumPricesandimpactofCS,PSandDWL
Page5of6

ImpositionofQuotasandimpactofCS,PSandDWL
Problem

Suggestedreadings:
RobertS.Pindyck,DanielL.RubinfeldandPremL.Mehta(2009),Microecononics,7/e
PearsonEducation,Chapter8.
Classnotes.

SESSIONS20AND21

MONOPOLY
MeaningofMonopoly
EquilibriumConditionsofaMonopolist
EquilibriumofaMonopolistwithProfits,Losses,NormalProfitsandMinimumAC
Canthemonopolistchargeanyprice?
AbsenceofSupplyCurveinMonopoly
ConceptofMonopolyPower:LernersMeasure
SourcesofMonopolyPower
SocialCostofMonopolyPower
Problem

Suggestedreadings:
RobertS.Pindyck,DanielL.RubinfeldandPremL.Mehta(2009),Microecononics,7/e
PearsonEducation,Chapter9.
Classnotes.

SESSION22

PRICEDISCRIMINATION
MeaningofPriceDiscrimination
ConditionsforSuccessfulPriceDiscrimination
FirstDegreePriceDiscrimination
SecondDegreePriceDiscrimination
ThirdDegreePriceDiscrimination
Problem

Suggestedreadings:
RobertS.Pindyck,DanielL.RubinfeldandPremL.Mehta(2009),Microecononics,7/e
PearsonEducation,Chapter10.
Classnotes.

NOTE:TopicscoveredinSessions1622wouldbecapturedinQuiz4.
Page6of6