Microeconomics for Beginners

By Vijay Prakash Misra, Dr. Adya Sharma, Dr. Punit Kumar Mishra, Dr. Nehajoan Panackal, Dr. Sonica Rautela | Symbiosis Centre for Management Studies, Pune; Symbiosis International (Deemed University), Symbiosis Centre for Management Studies, Pune; Symbiosis International (Deemed University), Symbiosis Centre for Management Studies, Pune; Symbiosis International (Deemed University), Symbiosis Centre for Management Studies, Pune; Symbiosis International (Deemed University), Symbiosis Centre for Management Studies, Pune; Symbiosis International (Deemed University)

Learners enrolled: 1753

Course Overview:

This course is designed for all the students who wish to learn Economics and/ or clear their basics about the course to have a better understanding of the subject and take up more challenging courses in the discipline.

This course will be most suited for UG/ PG students studying Microeconomics in courses like - BBA, B.Com, BA, M.Com, and MBA. This course is designed keeping in mind the needs of the learners and the difficulty they face in learning economics. An attempt is made to deliver the regular concepts of economics in a manner that will enable the learner to understand and apply the economic logic to real-world situations. Thereby, concretizing the learning and appreciating its relevance.

There is always a gap in understanding basic market dynamics such as – why the prices of products go up, why governments change the interest rate, why certain products have subsidies while others have taxes levied on them, what determines the extent of taxation, and who bears the burden of taxation, why is there dampening of demand, why is there a liquidity crisis, so on and so forth. This course will help learners understand the underlying behavior of individuals in the economy and how that behavior leads to different outcomes in different situations.

By the time this course is completed the learners will learn – (i) Fundamentals of an economy, (ii) Who are consumers? What role do they play in the economy? How does the behavior of these individual consumers affect at the aggregate/ market level? (iii) Who are the producers? What role do they play in the economy and How does the behavior of these individual producers affect at the aggregate/ market level? (iv) Cost concepts, revenue concepts, and market equilibrium.

By doing this course the learners can understand and appreciate concepts in economics and its contribution to the economy.

This course builds a foundation in economics for the learners and puts them at a level from which they can grasp complex courses in the discipline.

The Course Objectives include:

1. Explain the fundamentals of how an economy works.

2. Illustrate how the economic environment influences individual consumer behavior collectively contributing to the demand curve.

3. Demonstrate how individual producer’s behavior collectively leads to the formation of the supply curve.

4. Interpret the consumer and producer behavior in different economic settings.

Summary

Course Status :	Completed
Course Type :	Core
Language for course content :	English
Duration :	6 weeks
Category :	Management Studies
Credit Points :	3
Level :	Undergraduate/Postgraduate
Start Date :	15 Jul 2024
End Date :	31 Oct 2024
Enrollment Ends :	31 Aug 2024
Exam Date :	08 Dec 2024 IST
Shift :	2

Note: This exam date is subject to change based on seat availability. You can check final exam date on your hall ticket.

Page Visits

Course layout

Week 1 – Introduction to Economics
Week 2 – Consumer Theory
Week 3 – Demand
Week 4 – Elasticity of Demand
Week 5 – Cost and Production Theory
Week 6 – Revenue, Supply and Markets

Syllabus page

Exam Schedule

Books and references

• Dr. Deepashree, (2023), Principles of Microeconomics, Scholar Tech Press, 978-93-82209-61-4

• Ahuja H.L. (2019) Principles of Microeconomics, 22nd Edition, S.Chand and Co. Ltd. New Delhi, 9789352837311

• Jeffrey M. Perloff, (2019) Microeconomics, (7th Edition), Pearson Publication, 9789353068684

Instructor bio

Vijay Prakash Misra

Symbiosis Centre for Management Studies, Pune; Symbiosis International (Deemed University)

Vijay Prakash Misra is Assistant Professor & Deputy Director at Symbiosis Centre for Management Studies, Pune. He has over 10 years of experience in teaching economics. He is passionate about teaching methods and has experimented with different teaching pedagogy.

He started COIL (Collaborative Online International Learning) at SCMS Pune with BridgeValley Technical and Community College, USA, which was well received by the students. In addition, he has completed the "Designing Learner Centric MOOCs" Online Course offered by IIT- Mumbai on the SWAYAM platform. He featured in the top 2% of the candidates evaluated for the final exam.

Dr. Adya Sharma

Symbiosis Centre for Management Studies, Pune; Symbiosis International (Deemed University)

Dr. Adya Sharma is a dedicated professional with more than 25 years of experience. She brings with her rich practical experience from the corporate world that perfectly blends with theory and enhances academics. She has also been connected to the industry as a corporate trainer in companies like Goldman Sachs Women Entrepreneurship program, Tata Motors Development Centre, Amdocs, McDonalds, Wipro, Coca Cola, CPHR Services Pvt Ltd, Konnet Solutions Pvt Ltd, Yazaki, Sigatul Mazaraat Al Vazaratus Saifiyah and Zocdoc among others. She brings with her a missionary zeal to keep the learning environment vibrant and energized.

An avid researcher, she has a number of case studies to her credit which are based on real time events. She has also written research papers in reputed journals including Scopus indexed journals and has authored chapters in books. She is also the editor of the book titled ‘Marketing Techniques for Financial Inclusion and Development’ by IGI Global.

Dr. Sharma has actively participated in international academic collaborations and mobility programs. She has visited universities in the A4+ Consortium in Spain through the University of Pompeu Fabra (UPF) mobility program under the Erasmus grant. She has also travelled to Leeds Beckett University in London to strengthen international relations. Under her leadership, SCMS Pune has been awarded the Shastri Conference and Lecture Series Grant (SCLSG). She has introduced Collaborative Online International Learning (COIL) to provide students with international exposure.

In line with the National Education Policy (NEP) 2020, Dr. Sharma successfully implemented a four-year BBA programme from AY 2023-24. She has also been the second supervisor for Master thesis of students conducted under Berlin School of Economics and Law, Germany. She is PhD, NET qualified, double Post Graduate and an alumnus of St Stephens College.

Dr. Punit Kumar Mishra

Symbiosis Centre for Management Studies, Pune; Symbiosis International (Deemed University)

Dr. Punit Kumar Mishra holds a doctorate in Marketing Management. He is an assistant professor at Symbiosis Centre for Management Studies, Pune. Dr. Mishra has 18 years of teaching, research & industry experience and constantly experiments with technology in education, such as Moodle, simulation games, blended learning, MOOC content creation, etc. He is skilled in teaching Digital Marketing, Marketing Analytics, Marketing research, and Rural Marketing. Dr. Mishra has published several research papers in refereed Journals, including Scopus and Web of Science-indexed journals. He has also presented several research papers at National and International conferences. His key research areas are Distribution Channels, Rural Marketing, Digital Marketing, Technology in Education etc.

Dr. Nehajoan Panackal

Symbiosis Centre for Management Studies, Pune; Symbiosis International (Deemed University)

Dr Nehajoan Panackal is an Assistant Professor at Symbiosis Centre for Management Studies, Pune. Her educational qualifications include PhD, MBA. Her research interests are in the area of business sustainability, human resource management, behavioral economics and business administration which have been translated into publications in journals that are Scopus, Web of Science indexed and ABDC listed. She is an active faculty for COIL (Collaborative Online International Learning) with institutes in Brazil and has been a trainer for faculty development programmes.

Dr. Sonica Rautela

Symbiosis Centre for Management Studies, Pune; Symbiosis International (Deemed University)

Dr. Sonica Rautela is an Assistant Professor at Symbiosis Centre for Management Studies, Pune, India. Her interests include Social Media, New Product Development, Higher Education and Open Innovation. She has also completed the "Designing Learner Centric MOOCs" course by IIT- Mumbai on the NPTEL platform. She is featured in the top 2% of the candidates evaluated for the final exam. She has also been involved in Collaborative Online International Learning (COIL) initiatives for courses related to Marketing. She has a keen interest in technology in education and has been a resource person for a faculty development program on incorporating technology in education. She has also published research papers in Scopus-indexed and ABDC-listed journals.

Course certificate

Enrolling and learning from the course is free. However, if you wish to obtain a certificate, you must register and take the proctored exam in person at one of the designated exam centre’s. The registration URL will be announced when the registration form is open. To obtain the certification, you need to fill out the online registration form and pay the exam fee. More details will be provided when the exam registration form is published, including any potential changes. For further information on the exam locations and the conditions associated with filling out the form, please refer to the form

Grading Policy:

Assessment Type	Weightage
Weekend Assessment	25%
Final Exam	75%

Certificate Eligibility:

40% marks and above in the weekend assessment
40% marks and above in the final proctored exam

Score	Type of Certificate
>=90	Gold
75 - 89	Silver
70 - 74	Bronze
40 - 70	Successfully Completed
<40	No Certificate

Sample Certificate:

Disclaimer: In order to be eligible for the certificate, you must register for enrolment and exams using the same email ID. If different email IDs are used, you will not be considered eligible for the certificate.