Analyze basic supply and demand relations with formal models.
Discuss the operation of different markets.
Analytically examine market failures and their solutions.
Mode of Delivery
Face to face
Prerequisites
No
Recommended Optional Programme Components
Course Description
This course presents the basic analytical tools of microeconomics. It describes decision making process of individuals and how these decisions are optimized by using consumer and firm theory. Then how competitive markets function and what happens after government interventions are analysed.
Course Contents
WEEK
TOPICS
1st Week
Markets and Prices
2nd Week
Consumer Behaviour
3rd Week
Individual and Market Demand
4th Week
Production
5th Week
Cost of Production in Short Run
6th Week
Cost of Production in Long Run
7th Week
Profit Maximization
8th Week
Midterm
9th Week
Competitive Supply
10th Week
Analysis of Competitive Markets
11th Week
Market Power: Monopoly
12th Week
Market Power: Monopsony
13th Week
Market Power and Pricing
14th Week
Market Power and Welfare
Recommended or Required Reading
Robert Pindyck and Daniel L. Rubinfeld, Microeconomics, 8th ed. Boston: Pearson, 2015.
Planned Learning Activities and Teaching Methods
Lecture
Discussion
Problem Solving
Assessment Methods and Criteria
Quantity
Percentage (%)
Mid-term
1
40
Assignment
1
10
Total(%)
50
Contribution of In-term Studies to Overall Grade(%)
50
Contribution of Final Examination to Overall Grade(%)
