New Members

Earn Revenue

Help
Login
Register
Forum
Articles
Ask Experts
Exams »
Exam Results
Practice Tests
Question Papers
Members »
Social Hub
New Posts
Post Content
Education »
Admissions
Learn English
Study Abroad
Courses
Institutes »
Universities
Colleges
Schools
More »
Jobs
Reviews
My India
Resources
»
Education
»
Syllabus
Articles/Knowledge Sharing
»
Syllabus
M.A. applied economics  micro economics semester1 paper1
Updated:
22Feb2011
Category:
Syllabus
Author:
Chakravarthi (Emperor)
Member Level:
Gold
Points
: 2
This is the paper for micro ecomomics students for acharya nagarjuna university.
M.A. Applied Economics
Micro Economics
Semester I: Paper I
1. Introduction and Basic Concepts:
Basic economic problem  choice and scarcity; deductive and inductive methods of analysis; positive and normative economics; Economic models; Characteristics of equilibrium and disequilibrium systems – static and dynamic analysis – micro and macro differences.
Demand Analysis:
Elasticities (price, cross, income) of demand theoretical aspects and empirical estimation; elasticity of supply;
Theories of demand — utility; indifference curve (income and substitution effects,
Slutsky theorem, compensated demand curve) and their applications; Revealed preference theory; Revision of demand theory by Hicks; Characteristics of goods approach; consumer's choice involving risk; Indirect utility functions (duality theory); Recent developments in demand analysis (pragmatic approach and linear expenditure systems);
Consumer's surplus; Intertemporal consumption; Recent developments in demand; Elementary theory of price formation  demand and supply equilibrium; Cobweb theorem; lagged adjustment in interrelated markets.
2. Theory of Production and Costs:
Production function  short period and long period; law of variable proportions and returns to scale; Isoquants  Least cost combination of inputs; Returns to factors; Economies of scale; Multiproduct firm; Elasticity of substitution; Euler's theorem; Technical progress and production function; Cobb Douglas, CES, VES and Translog production functions and their properties; Empirical work on production functions; Traditional and modern theories of costs  Empirical evidence; Derivation of cost functions from production functions; derived demand for factors.
3. Price and Output Determination:
Marginal analysis as an approach to price and output determination: perfect competition  short run and long run equilibrium of the firm and industry, price and output determination, supply curve; Monopoly  short run and long run equilibrium, price discrimination, welfare aspects, monopoly control and regulation; Monopolistic competition  general and Chamberlin approaches to equilibrium, equilibrium of the firm and the group with product differentiation and selling costs, excess capacity under monopolistic and imperfect competition, criticism of monopolistic competition; Oligopoly — Non collusive (Cournot, Bertrand, Edgeworth, Chamberlin, kinked demand curve and Stackelberg's solution) and collusive (Cartels and mergers, price leadership and basing point price system) models; Price and output determination under monopsony and bilateral monopoly; Workable competition  Structure, conduct and performance norms.
4. Alternative Theories of the Firm :
Critical evaluation of marginal analysis; Baumol's sales revenue maximization model; Williamson's model of managerial discretion; Marris model of managerial enterprise; Full cost pricing rule; Bain's limit pricing theory and its recent developments including SylosLabini's Model; Behavioural model of the firm; Game theoretic models.
5. Distribution:
Neoclassical approach  Marginal productivity theory; Product exhaustion theorem; Elasticity of technical substitution, technical progress and factor shares; Theory of distribution in imperfect product and factor markets; Determination of rent, wages, interest and profit; Macro theories of distribution  Ricardian, Marxian, Kalecki and Kaldor's.
Did you like this resource? Share it with your friends and show your love!
Tweet
Responses to "
M.A. applied economics  micro economics semester1 paper1
"
No responses found. Be the first to respond...
Feedbacks
Post Comment:
Notify me by email when others post comments to this article.
Do not include your name, "with regards" etc in the comment. Write detailed comment, relevant to the topic.
No HTML formatting and links to other web sites are allowed.
This is a strictly moderated site. Absolutely no spam allowed.
Name:
Sign In
to fill automatically.
Email:
(Will not be published, but
required
to validate comment)
Type the numbers and letters shown on the left.
Submit Article
Return to
Article Index
Subscribe to Email
Get Jobs by Email
Forum posts by Email
Articles by Email
Awards & Gifts
Active Members
Today
R Pramod
(79)
M. K.
(77)
Kailash Kumar
(69)
Last 7 Days
R Pramod
(861)
Kailash Kumar
(788)
K Mohan
(524)
more...
Online Members
Shibinraj.K
T.Krishnamoorthy
Biniljames
Sunil
Aditya Chowdhury
Sourav kumar
More...