#1
May 11th, 2016, 11:20 AM
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Principle of Economics DU
Can you provide me the syllabus of Principles of Microeconomics–I and Principles of Microeconomics–II of B.A. Economics program offered by University of Delhi?
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#2
May 11th, 2016, 11:21 AM
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Re: Principle of Economics DU
The syllabus of Principles of Microeconomics–I and Principles of Microeconomics–II of B.A. Economics program offered by University of Delhi are as follows: Core Economics I: Principles of Microeconomics–I Course Description Course Outline 1. Introduction a. Problem of scarcity and choice: scarcity, choice and opportunity cost; production possibility frontier; economic systems. b. Demand and supply: law of demand, determinants of demand, shifts of demand versus movements along a demand curve, market demand, law of supply, determinants of supply, shifts of supply versus movements along a supply curve, market supply, market equilibrium. c. Applications of demand and supply: price rationing, price floors, consumer surplus, producer surplus. d. Elasticity: price elasticity of demand, calculating elasticity, determinants of price elasticity, other elasticities. 2. Consumer Theory Budget constraint, concept of utility, diminishing marginal utility, Diamond-water paradox, income and substitution effects; consumer choice: indifference curves, derivation of demand curve from indifference curve and budget constraint. 3. Production and Costs a. Production: behaviour of profit maximising firms, production process, production functions, law of variable proportions, choice of technology, isoquant and isocost lines, cost minimizing equlibrium condition. b. Costs: costs in the short run, costs in the long run, revenue and profit maximizations, minimizing losses, short run industry supply curve, economies and diseconomies of scale, long run adjustments. 4. Perfect Competition a. Assumptions: theory of a firm under perfect competition, demand and revenue; equilibrium of the firm in the short run and long run; long run industry supply curve: increasing, decreasing and constant cost industries. b. Welfare: allocative efficiency under perfect competition. Core Economics II: Principles of Microeconomics–II Course Description Course Outline 1. Market Structures a. Theory of a Monopoly Firm Concept of imperfect competition; short run and long run price and output decisions of a monopoly firm; concept of a supply curve under monopoly; comparison of perfect competition and monopoly, social cost of monopoly, price discrimination; remedies for monopoly: Antitrust laws, natural monopoly. b. Imperfect Competition Monopolistic competition: Assumptions, SR & LR price and output determinations under monopolistic competition, economic efficiency and resource allocation; oligopoly: assumptions, oligopoly models, game theory, contestable markets, role of government. 2. Consumer and Producer Theory a. Consumer and Producer Theory in Action Externalities, marginal cost pricing, internalising externalities, public goods; imperfect information: adverse selection, moral hazard, social choice, government inefficiency. b. Markets and Market Failure Market adjustment to changes in demand, efficiency of perfect competition; sources of market failure: imperfect markets, public goods, externalities, imperfect information; evaluating the market mechanism. 3. Income Distribution and Factor pricing Input markets: demand for inputs; labour markets, land markets, profit maximisation condition in input markets, input demand curves, distribution of Income. 4. International Trade Absolute advantage, comparative advantage, terms of trade, sources of comparative advantage, trade barriers, free trade/ protectionism. |
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