UNIT 1

Book Principles of Microeconomics by Dominick Salvatore (Oxford University Press)

Topics to cover Market Analysis
Market Demand
Demand Schedule and Demand Curve
Changes in Demand
Market Supply
Supply Schedule and Supply Curve
Changes in Supply
When is a Market in Equilibrium?
Adjustment to Changes in Demand and Supply: Comparitive Static Analysis
The Market Demand for a Commodity
Price Elasticity of Market Demand
Measuring the Price Elasticity of Demand
Price Elasticity Graphically
Price Elasticity and Total Expenditures
What determines Price Elasticity
Income Elasticity of Demans
Cross Elasticity of Demand
Marginal Revenue and Elasticity
Demand, Total Revenue, and Marginal Revenue
The geometry of MR Determination
MR, Price and Elasticity
 UNIT 2
Principles of Microeconomics by Dominick Salvatore (Oxford
Book
University Press)
Utility Analysis
Topics to cover TU and MU
Cardinal or Ordinal Utility?
Customer's Tastes: Indifference Curves
IC - What do they show?
Characteristics of IC
Day 4 The MRS
Some Special Types of Indifference Curves
The Customer's Income and Price Constraints: The Budget Line
Definition of Budget Line
Changes in Income and Prices and the Budget Line

Consumer's Choice
Utility Maximisation
Corner solution
MU Approach to utility maximisation

The Theory of Revealed Preference Theory (At the Frontier)

Changes in Income and the Engel Curve
Income - Consumption Curve and Engel Curve
Normal and Inferior Goods
Changes in Price and Individual Demand Curve
Substitution and Income Effect
How are substitution and income effects separated?
Substitution Effect and Income Effect for Inferior Goods
 UNIT 3
Principles of Microeconomics by Dominick Salvatore (Oxford University
Book
Press)
Production with One Variable Input
Total, Average and Marginal Product
Topics to cover
The Geometry of Average and Marginal Product Curves
Law of Diminishing Returns
Production with Two Variable Inputs
Day 3 What do Isoquants show?
Derivation of TP Curves from the Isoquant Line
The Shape of Isoquants
Characteristics of Isoquants
Economic Region of Production
Fixed-Proportions Production Functions
Constant, Increasing and Decreasing Returns to Scale
Cost in Short Run
Total Costs
Per-Unit Costs
Geometry of Per-Unit Cost Curves
Cost in Long Run
Isocost Lines
Least-Cost Input Combination
Cost Minimization in the Long Run and in the Short Run
Expansion Path and the Long-Run Total Cost Curves
Expansion Path and the Long-Runn Total Cost Curve
Derivation of the Long-Run Average and Marginal Cost Curves
The Relationship Between Short and Long-Run Average Cost Curves
Shape of the Long-Run Average Cost Curve
Multiproduct Firms and Dynamic Changes in Costs
Economies of Scope
The Learning Curve
Extensions and Uses of Production and Cost Analysis
Derivation of the Total Variable Cost Curve from the Total Product Curve
Input Substitution in the Production to Minimize Costs
Input prices and firm's cost curves

Book Modern Microeconomics by Anna Kuotsoyiannis

 Modern theory of cost
Short Run cost curves
Topics to cover
Long Run cost curve
Economies of Scale

UNIT 5
Principles of Microeconomics by Dominick Salvatore (Oxford University
Book
Press)
Topics to cover Partial Versus General Equilibrium Analysis
General Equilibrium of Exchange and Production
General Equilibrium of Exchange
Day 1 General Equilibrium of Production
Derivation of the Production-Possibilities Frontier
General Equilibrium of Production and Exchange and Pareto Optimality
Simultaneous General Equilibrium of Production and Exchange
Marginal Conditions for Economic Efficiency and Pareto Optimality
 UNIT 4
Book Microeconomics by Pindyck and Rubinfeld
Perfectly Competitive Markets
Topics to cover
When is a market competitive?
Profit Maximisation
Day 1(ECO) Do Firms Maximize Profit?
Alternative Forms of Organisation
MR, MC and Profit Maximisation
Demand and Marginal Revenue for a Competitive Firm
Profit Maximisation by a Competitive Firm
Choosing Output in Short Run
Short-Run Profit Maximisation by a competitive firm
When should a firm shut down?
The Competitive Firm's Short-Run Supply Curve
The Firm's Response to an Input Price Change
The Short-Run Market Supply Curve
Elasticity of Market Supply
Producer Surplus in Short Run
Choosing Output in Long Run
Long Run Profit Maximisation
Long Run Competitive Equilibrium
Economic Rent
Producer Surplus in Long Run
The Industry's Long Run Supply Curve
Constant Cost Industry
Increasing Cost Industry
Decreasing Cost Industry
The Effects of Tax
Long Run Elasticity of Supply
Evaluating the Gains and Losses from Government Policies-Consumer and Producer Surplus
Review of Consumer and Producer Surplus
Application of Consumer and Producer Surplus
The Efficiency of a Competitive Market
Day 2 The Impact of Tax or Subsidy
The Effects of a Subsidy
Monopoly
AR and MR
The Monopolist's Output Decision
An Example
A Rule of Thumb for Pricing
Shifts in Demand
The Effect of a Tax
The Multiplant Firm
Monopoly Power
Production, Price and Monopoly Power
Measuring Monopoly Power
The Rule of Thumb for Pricing
Sources of Monopoly Power
The Elasticity of Market Demand
The Number of Firms
The Interaction among Firms
The Social Costs of Monopoly Power (Before Rent Seeking)
Capturing Consumer Surplus
Price Discrimination
First-Degree Price Discrimination
Second-Degree Price Discrimination
Third-Degree Price Discrimination
Monopolistic Competition
The Makings of Monopolistic Competition
Equilibrium in Short Run and Long Run
Monopolistic Competition and Economic Efficiency
Oligopoly
The Cournot Model
Competition versus Collusion: The Prisoners' Dilemma
Implications of the Prisoners' Dilemma for Oligopolistic Pricing
Price Rigidity
The Dominant Firm Model
Gaming and Strategic Decisions
Non-cooperative versus Cooperative Games
Dominant Strategies
The Nash Equilibrium Revisited
Maxmin Strategies
Mixed Strategies