Course Learning Outcomes:

This course trains the students of Economics about the basic elements of consumer theory and production theory and the functioning of perfectly competitive market. This course aims to give students a solid grasp of microeconomic analysis at the intermediate-level using mathematical techniques where appropriate.

Course Modules:

Consumer Theory:

Preferences; utility; budget constraint; optimal choice; demand; Slutsky equation; buying and selling; choice under risk and intertemporal choice; revealed preference.

Production, Costs and Perfect Competition:

Technology; isoquants; production with one and more variable inputs; returns to scale; short run and long run costs; cost curves in the short run and long run; review of perfect competition, profit maximization theory.

NOTE: The above modules give a rough idea about the topics covered in our Intermediate Microeconomics-I course. Students will be given modules as per their respective Universities outline after prior discussion.