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Intro

NPTEL: An Introduction to Microeconomics

Microeconomics is the study of the allocation of scarce resources among individuals. Economic theories are based on the assumption that individuals as well as firms have well defined objectives; utility maximization for individuals and profit maximization for firms and they act systematically according to the incentives and constraints of their economic environment. It is this framework that allows the economist to gain a fundamental understanding of the human puzzle in an economic setting. This course in the fundamentals of economics covers consumer theory, producer theory as well as the market structures through which individuals and firms interact.

Syllabus

Week 1 : What is Economics, Demand, Supply, Equilibrium, Change in Supply and Demand, Elasticity
Week 2 : Comparative Statics, Consumer Theory, Preferences, Utility Maximization, Substitution and Income Effect, Fiffin Goods
Week 3 : Compensated Demand, Producer Theory, Type of Firms, Production functions and Isoquants, Factor Substitutions, Return to Scale and Economies of Scale
Week 4 : Cost Curves, Cost Functions, Cost Minimization, Profit Maximization, Market Structures, perfect and Imperfect Markets
Week 5 : Perfectly competitive firm, Monopoly, Market Power, Price discrimination, Taxation, Introduction to Game Theory
Week 6 : Cost Curves
Week 7 : Market Environment 1,Perfectly Competitive Market,Short Run vs. Long Run
Week 8 : Equilibrium Analysis,Social Surplus,Dead weight Loss
Week 9 : Market Environment 2- Monopoly,Profit Maximization
Week 10: Price Discrimination,First Degree,Second Degree,Third Degree
Week 11: Introduction to Game Theory,Nash Equilibrium
Week 12: Market Environment 3- Oligopoly,Cournot Game,Bertrand Game

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Cost Free Online Course
Pace Upcoming
Subject Economics
Provider NPTEL
Language English
Calendar 12 weeks long

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