|Course Type||Course Code||No. Of Credits|
Semester and Year Offered: 1st Semester, 1st year
Course Coordinator and Team: Taposik Banerjee
Email of course coordinator: taposik[at]aud[dot]ac[dot]in
Pre-requisites: Graduation level Microeconomics and Mathematics.
Aim: The course is a foundational course for a post graduate student of economics. The two courses, Microeconomics 1 and 2 together will help students learn the fundamental theories of microeconomics. The course introduces students to the theory of consumer behavior, theory of production and cost, theory of firms and supply and theory of markets. The aim of this course is to give students the conceptual basis and the necessary tools for understanding modern microeconomics at the post graduate level. The emphasis is on understanding concepts and principles underlying the theory, and applying them to derive quantitative solutions.
On successful completion of this course students will be able to:
Brief description of modules/ Main modules:
The course covers the following broad areas: (a) theory of consumer behaviour (b) choice theory (c) theory of production and cost (d) imperfect competition (e) uncertainty (f) game theory. In the theory of the consumer behaviour and in the theory of choice we would discuss the demand side of the economy. Theory of production and cost would be dealing with relationship between technology and costs. The course revisits some basic market structures under imperfect competition. Finally we would discuss how decisions are made under conditions of uncertainty. The following would be the broad outline of the course.
1.Theory of consumer behaviour
2 Choice Theory
3. Theory of production and cost
4.Markets and partial equilibrium
5. Theory of Uncertainty
6. Game Theory
Assessment Details with weights:
Three class tests with following weights: Test 1 (25%), Test 2 (35%) and Test 3 (40%).
Test 1 will be a class test based on material covered during first half of the semester.
Test 2 will be a class test based on material covered during second half of the semester.
Test 3 will be an end of semester class test based on all material covered in the course.