SECOND SEMESTER PASS COURSE (B.A.IB.Sc.) Paper - ECOP 201 : MICRO ECONOMICS-Il Full Marks : 50 PassMarks:17 Unit-I Theor...
SECOND SEMESTER
PASS COURSE (B.A.IB.Sc.)
Paper - ECOP 201 : MICRO ECONOMICS-Il
Full Marks : 50
PassMarks:17
Unit-I
Theory of Costs and Revenue:Different concepts of cost, cost curves, short-run cost analysis, long-run cost analysis- relation between short-run and long-run costs, Concept of AR, MR and its relationship, elasticity. (20 hours)
Unit-II
Theory of the Firm and Market Organization (A):a. Perfectly competitive market-characteristics, Short-run and long run equilibrium of the firm, equilibrium of the industry.
b. Price and Output Determination under Monopoly: Factors governing the growth of monopoly-short run and long-run equilibrium under monopoly — price discrimination. (20 hours)
Unit-III
Theory of the Firm and Market Organization (B):a. Theory of Monopolistic Competition : Features-- equilibrium of firm and industç - group equilibrium, short and long run.
b. Concepts of Oligopoly. (20 hours)
Unit-IV
The Theory of Factor Pricing:Theories of rent — Ricardian and modern theories, determination of wages, Neoclassical and Keynesian theories of interest, the marginal productivity theory of input pricing. theories of profit. (20 hours)
Unit-V
Welfare Economics:Concepts of Welfare — Pareto’s Criteria of optimal welfare, Concepts of social welfare function. (20 hours)
Basic Readings
1. Text Books1. A. Koutsoyiannis: Micro Economic Theory, Macmillan Press, London.
2. Gopal Tribedi : Introductory Microeconomics, Academic Publishers, Calcutta.
3. Satya R. Chakravorty : Micro Economics, Allied Publishers.
4. David M. Kreps : A Course in Micro Economic Theory, Princeton University Pres&
5. 3. M. Henderson and R. E. Quandt : Micro Economic Theory : A Mathematica Approach, McGraw Hill, New Delhi.
2. References
1. Hall R. Varian : Intermediate Micro Economics — A Modern Appraoch, Nor Publisher.
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