Kolhan University, Jharkhand, General Semester 1, Micro Economics Syllabus

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Unit - 1 Exploring the subject matter of economics

Unit 1

Exploring the subject matter of economics

1.1 Why study economics Scope of economics

1.2 The economic problem scarcity and choice the question of what to produce how to produce and how to distribute output

1.3 Sciences of economics

1.4 Basic competitive models prices

1.5 Economic systems reading and working with graphs.

Unit - 2 Supply and Demand: How Markets Work, Markets and Welfare

Unit 2

Supply and Demand How Markets Work Markets and Welfare

2.1 Market and competition

2.2 Determinants of individual demandsupply

2.3 Demandsupply schedule and demandsupply curve

2.4 Market versus individual demandsupply

2.5 Shifts in the demandsupply curve elasticity and its application Controls on prices consumer surplus.

Unit - 3 The households

Unit 3

The households

3.1 The consumption decision budget constraint consumption and incomeprice changes demand for all other goods and price changes

3.2 Description of preferences representing preferences with indifference curves properties of indifference curves consumer‘s optimum choice income and substitution effects.

Unit - 4 The Firm and Perfect Market Structure

Unit 4

The Firm and Perfect Market Structure

4.1 Behavior of profit maximizing firms and the production process

4.2 Short run costs and output decisions

4.3 Long run costs and output decisions

Unit - 5 Imperfect Market Structure

Unit 5

Imperfect Market Structure

5.1 Monopoly

5.2 Government policies towards competition

5.3 Imperfect competition

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Other Subjects of Semester-1-
Business law
Financial accounting
English communication
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