Micro Economics (ECON:6112)

Intoduction to Course:

The course is designed for senior undergraduates. The objective is to confront them to advanced theoretical concepts and rigorous analysis with mathematical tools at hand. They have to develop the analytical skills and to enhance the capabilities to solve somewhat complicated problems. As usual, the teacher is expected to draw examples from the surrounding world for exposition. The students may be given frequent assignments and exercises from the texts, which may be discussed by the teacher in the class after submission. The students should be motivated to use computer for solving the assignments.

Course Pre-Requisite

There is no pre-requisite for this course.

Learning Outcomes

After completing this course student would be able to:

After studying this course the student will be able to understand:
1. The Economic problem of allocation and distribution of resources.
2. The factors that determine demand and supply
3. The concept of elasticity of demand and supply
4. Analyze the effect of market structure on firm behavior
5. Analyze efficiency and the role of government in promoting and deterring efficiency
6. The concept of derived demand for labor and capital
7. The existence of impact of externalities
8. Income distribution and “fairness”.

Text Books

1. Nicholson, Walter - Microeconomic Theory: Basic Principles andExtensions- 8th Edition (2002) or latest -Thomson & Learning Inc.

2. Henderson &Quandt - Microeconomic Theory: A MathematicalApproach‑3rd Edition (1980)– McGraw Hill International.

Suggested Books

1. Silberberg, E. &Suen, W.-The Structure of Economics: A Mathematical Analysis- 3rd Edition(2001) – McGraw Hill International

2. Layard & Walters – Microeconomic Theory- (1978) – McGraw Hill Book Company.