Sem 3 - Intermediate Micro Economics - Part 1
Sem 3 - Intermediate Micro Economics - Part 1
Sem 3 - Intermediate Micro Economics - Part 1
Minutes of Meeting
Attended by:
The course Committee decided to maintain the same syllabus as last year.
Course Description
The course is designed to provide a sound training in microeconomic theory. Since students are
already familiar with the quantitative techniques in the previous semesters, mathematical tools are
used to facilitate understanding of the basic concepts. This course looks at the behaviour of the
consumer and the producer and also covers the behaviour of a competitive firm.
Course Outline
1. Consumer Theory
Preference; utility; budget constraint; choice; demand; Slutsky equation; buying and selling;
choice under risk and intertemporal choice; revealed preference.
Technology, isoquants, production with one and more variable inputs, returns to scale, short run
and long run costs, cost curves in the short and long run; review of perfect competition.
Readings
1. Hal Varian (2010): Intermediate Microeconomics: A Modern Approach, 8th edition, Affiliated
East West Press (India). The workbook by Varian and Bergstrom could be used for problems.
2. B. Douglas Bernheim and M. Whinston (2009): Microeconomics, Tata McGraw Hill (India).