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Microconomics  (2020)  (English Medium)

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Author: Parth
Book Code: OBM/19/12/82424
Publisher: Parth Publishers
University: Maharshi Dayanand Saraswati University (MDSU)
Microconomics

Product Details

Microconomics 

 

This One Week Series is Written in English Language in Question Answer Series According to syllabus of Maharishi Dayanand University. 

Syllabus of Book

Unit-1 Nature and scope of economics; Methodology in economics, Choice as an economic problem; basic postulates: Role of price mechanism: Demand and supply, Basic framework-applications; Market equilibrium Consumer's Behavior Utility - Cardinal and ordinal approaches, Indifference curve, Consumer's equilibrium (Hicks and Slutskyk Giffin goods; Elasticity of demand-Price, income and cross: Consumer's surplus, Engle curve. Theory of Production and Costs Production decisions; Production function: Iso-quant, Pactor substitution; law of variable proportions;returns to scale, economies of scale;

Unit II Different concepts of cost and their interrelation: Equilibrium of the firm; Expansion path. Market Structure Market forms - Perfect and imperfect markets; Price & Output determination in Perfect competition, monopoly, Monopolistic Competition, Duopoly, Oligopoly, (Paul's M Sweezy Model). Price discrimination under monoply, Measure of monopoly power. Regulation of Monopoly. Factor Pricing Marginal productivity theory of distribution; Modem Theory of Factor Price Determination. Theories of wage determination, Wages and collective bargaining: Wage differentials;

Unit-III IT Rent - Scarcity rent: Differential rent: Quasi rent, interest - Classical and Keynesian theories; Profits - Innovation, risk and uncertainty theories lavestment Analysis, Rent, Interest and Profit Payback period -average annual rate of return, Net present value, Internal rate of return criteria, price changes, risk and uncertainty, elements of social cost benefit analysis. Welfare Economics Problems in measuring welfare; Classical welfare economics; Pareto's criteria(Production, Consumption and Distribution Concept of a social welfare function Compensation principle - Kaldor, Hicks

 
 

 

 

 

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