Bankura University, West Bengal, General Semester 2, Principles of Micro Economics Syllabus

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Unit - 1 Introduction

UNIT I

Demand and Supply

1.1 Introduction Demand and Supply

1.2 Determinants of demand

1.3 Movements vs. Shift in demand curve

1.4 Determinants of Supply

1.5 Movement along a supply curve vs. Shift in supply curve

1.6 Market equilibrium and price determination

1.7 Elasticity of demand and supply

3.4 a extreme resilience：

1.8 Application of demand and supply.

Unit - 2 Consumer Theory

UNIT II

Consumer Theory

1.1 Consumer Theory Ordinal Utility theory Indifference curve approach

1.2 Consumer’s preferences Interference curve

1.3 Budget line

1.4 Consumer’s equilibrium

1.5 Income and substitution effect

1.6 Price consumption curve and the derivation of demand curve for a commodity

1.7 Exceptions to the Law of Demand

Unit - 3 Production and Cost

UNIT III

Production and Cost

1.1 Production and Cost

1.2 Production Firm as an agent of production

1.3 Concepts of Production function

1.4 Law of variable proportions

1.5 Isoquant Return to scale

1.6 Economics and Diseconomies of scale

1.7 Costs Costs in the short run. Costs in the long run.

1.8 Profit maximization and cost minimization.

1.9 Equilibrium of the firm

1.10 Technological Change the very long run

Unit - 4 Market Structure

UNIT IV

Market Structure

4.1 Market Structure Perfect Competition Assumption Theory of a firm under perfect competition

4.2 Demand and Revenue

4.3 Equilibrium of the firm in the short run and long run the long run industry supply curve

4.4 Allocation efficiency under Perfect Competition

4.5 Monopoly Shortrun and longrun equilibrium of monopoly firm

4.6 Concept of supply curve under monopoly

4.7 Allocation inefficiency and deadweight loss monopoly

4.8 Price discrimination

4.9 Imperfect Competition Difference between perfect competitions monopoly and imperfect competition

4.10 Monopolistic Competition Assumption

4.11 Short – run Equilibrium Long run Equilibrium

4.12 Concepts of excess capacity Empirical relevance

4.13 Oligopoly Causes for the existence of oligopolistic firms in the market rather than perfect Competition

4.14 Cooperative vs. Non cooperative Behavior and dilemma of oligopolistic firms.

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