Introductory Microeconomics

By DR. RESHMA CHENGAPPA   |   Maharani Arts College for Women, University of Mysore, Mysuru.
Learners enrolled: 611
Microeconomics is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms. 

Primary  goal of microeconomics is to analyze the market mechanisms that establish relative prices among, goods and services and allocate limited resources among alternative uses. Microeconomics shows the conditions under which free markets lead to desirable allocations. It also analyzes market failure, where markets fail to produce efficient results.

While studying microeconomics, it focuses on the following topics like Economic problems, firms, individuals,  growth, inflation, price, cost, taxes, demand, supply, Market, consumption, unemployment,  various tiers of competition, labour, Government policies and so on….

Course Status : Ongoing
Course Type : Elective
Duration : 12 weeks
Start Date : 18 Jan 2021
End Date : 30 Apr 2021
Exam Date :
Enrollment Ends : 28 Feb 2021
Category :
Credit Points : 4
Level : Undergraduate

Course layout

Course Layout:

Week – 1 

1: Micro Economics
2: A Partial Equilibrium Model
3: Need of the study of economics or why study economics

Week – 2

4: Scarcity and choice
5: Scope and methods of economics
6: Economic problems

Week – 3

7: Question of what to produce
8: Production possibilities curve
9: Economic systems
Week – 4

10: Consumption or Utility theories (Theories of consumer behavior)
11: Indifference curve analysis  
12: Revealed preference theory
13: Law of Demand schedule and demand curve

Week – 5

14: Demand Forecasting
15: Elasticity and its application
16: Law of Supply schedule and curve
17: Production theories- Linear programming

Week – 6

18: Pricing And Pricing Techniques
19: Markets and competition determinants of individual demand supply  
20: Pricing under  competitive markets
21-Consumers optimum choice

Week – 7
22 -Income and substitution effects
23 -Labour supply and savings decision
24 -Choice between leisure and consumption
25 -Behaviour of profit maximising firms

Week – 8

26 -The production process
27 -Short run costs and output decisions
28 -Costs and output in the long run

Week – 9

29 -Monopoly and anti-trust policy
30 -Government policies towards competition
31- Perfect competition and imperfect completion
32 -Price discrimination

Week – 10

33 -Labour and land markets
34 -Basic concepts ; derived demand productivity of an output
35 -Marginal productivity of labour, marginal revenue product
36 -Demand of labour

Week – 11

37 -Input demand curves
38 -Shifts in input demand curves
39 -Competitive labour markets
40 -Labour markets

Books and references

Ahuja. (2001). Advanced Economic Theory: Micro economic analysis. New Delhi: S Chand and Company Limited.
ML, Seth. (2003). Principles of Economics. Agra: Lakshmi Narain Agarwal.
VK, Xavier. (2014). Economics for Managers. Bangalore: Magi's Publications.
Piana, V. (2001, August Wednesday). Economics Web Institute. Retrieved June Thursday, 2020, from Productivity: http://www.economicswebinstitute.org/glossary/prdctvt.htm
R, D. V. (2010). Introduction to Economics. Bangalore: K2 publication Private Limited.

Instructor bio

Dr. Reshma Chengappa, Course coordinator is serving as Asst. Professor Economics at the DOS in Economics Maharani Arts College for women which is affiliated to University of Mysore. She developed various documentary films on Economics and socio economic originated programs for UGC 's Higher education channel. She had 23 years of teaching, research and administrative experience. She developed curriculum for Master Degree courses, taught computer applications, conducted a dozen major projects and participated in hundreds of academic ventures, in several institutions.  

Course certificate

Assessment/Assignment marks will be considered for Internal Marks and will carry 30 percent for overall Result.

End Term Exam- will have 100 questions and will carry 70 percent of  overall Result.

*All students, who obtain 40% marks in in-course assessment and 40% marks in end-term proctored exam separately, will be eligible for certificate and credit transfer.

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