Week # 3-4: Preferences and Utility, Utility Maximization and choice
Axioms of Rational Choice,Utility,Trades and Substitution,A Mathematical Derivation,
Utility Functions for Specific Preferences,The Many-Good Case, An Initial Survey,
The Two-Good Case: A Graphical Analysis,The n-Good Case,Indirect Utility Function,
The Lump Sum Principle,Expenditure Minimization,Properties of Expenditure Functions
Course Material
- Week # 1-2: Economic Models & Mathematics for Microeconomics
- Week # 3-4: Preferences and Utility, Utility Maximization and choice
- week# 5: Income& Substitution Effects, Demand Relationships among goods
- Week # 6-7: Uncertainty and information, Strategy and Game Theory, Production and Supply
- Week 8: Cost Functions, The Partial Equilibrium Competitive Model
- Week # 9: Completion and Submission of Term Paper for Partial Fulfilment of Mid-Term
- Week # 10-11: General Equilibrium and Welfare
- Week # 12-13: Monopoly, imperfect Competition, Pricing in Input Markets
- Week # 14-15: Capital and Time
- Week # 16: Asymetric Information
- Week # 17: Externalities and Public Goods
- Week # 18: Final Term (Viva, Project, Presentation etc.)
- Chapters 12
- Department Economics
- Teacher
Dr. Mahmood ul Hasan
