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Micro Economics
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November
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What is Economics?
Demand
Market Demand
Law of Demand
Supply
Law of Supply
Change in Demand and Increase/Decrease in quantit...
Change in supply and Increase/decrease in quant...
Equilibrium Price
Changes in Market Equilibrium
What is a Market?
Consumer Surplus
Consumer surplus and price elasticity of demand
Types of goods
Economics : Art Or Science
Difference : Micro and Macro Economics
Central Problems of an Economy
The Production Possibility Curve
Opportunity Cost
What is Elasticity?
Price elasticity
Factors affecting Elasticity
Income Elasticity
Cross Elasticity
Elasticity & Revenue
Consumer Behavior
Utility
Law of Diminishing Marginal Utility
Law of Equi-Marginal Utility
Indifference curve Analysis
The indifference curve
The shape of the indifference curve and the margi...
An indifference map
A Budget Line (budget constraints)
A change in consumer income and the budget line
A change in the price of a good and the budget line
Equilibrium position : Indifference analysis
Income and substitution effect
Theory of Production
Law of diminishing marginal product
Returns to scale
Cost function
Total Cost, Fixed Cost and Variable Cost curves
Marginal Cost and Average Cost curves
Long Run Cost
Opportunity Costs, Explicit Costs and Implicit costs
Derivation of long-run average cost curve
Economies & Diseconomies of scale
Shifts in the Cost Curves
Isoquant Analysis
Slope of isoquant curve/Marginal rate of substitution
Isoquant map
The Isocost Line
Isoquant analysis :The Economically Efficient Poin...
Producer’s surplus
What is a Market?
Perfect competition
Demand Curve & Equilibrium in perfect competition
Short run profit Maximisation in perfect competition:
Long run profit Maximisation
Short run vs Long Run
Monopoly
Monopolist’s Demand and MR Curve
Monopoly vs Perfect Competition
Equilibrium/Profit-Maximization : Monopoly
Sources of Monopoly Power
Price Discrimination :monopoly
Oligopoly
The importance of price and non-price competition
Kinked demand Curve
Game Theory :Introduction
Game theory
Cooperative versus noncooperative game
Dominant strategy : Game Theory
How to read a payoff matrix : Game Theory
Example: Each player has a dominant strategy
Example: one player dominant strategy
Nash equilibrium
Maximin strategy
Discuss Problems.
Micro Economics
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Sarika Gugnani Taneja
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