Microeconomics: Firms,Markets and Behaviour

Course Code Course Title Course Instructor/s Credit Value Programme & Trimester Prerequisite Learning Objectives / Outcomes

XXX Microeconomics: Firms, Markets and Behaviour Sangita Kamdar, Souvik Dhar, Chandrima Sikdar 3credits ( 100 marks paper) MBA Trimester I None a. To demonstrate ability to identify competitiveness from an economic perspective in a global setting LO1a b. To demonstrate ability to match competitiveness from an economic perspective in an India setting LO1b c. Analyse a complex situation which could be viewed from multiple economic perspectivesLO2a d. Use applied techniques /models/frame works appropriately in specific contextsLO2b

Session Cour Plan

2 3 4 5 6 7 8 9

Introduction: Central concepts of Economics Scarcity and efficiency, Micro and Macroeconomics, Factors of Production, Economic Systems Reading: Samuelson Paul and William Nordhaus, Economics, Indian adaptation by Sudip Chaudhuri and Anindya Sen, 19th edition, Tata Mcgraw Hill Publication. Chapter 1and 2. Opportunity Costs, Economic profit and Accounting profit Reading: Chapter 1 Theory of the firm, Maximising the value of the firm Reading Chapter 1 Demand, Supply and Market Equilibrium Reading: Chapter 2 Applications of Demand and Supply, Ceiling and Floor prices Reading : Chapter 2 Marginal Analysis for Optimal Decisions Reading: Chapter 3 Theory of Consumer Behaviour Reading: Chapter 5 Consumer theory and derivation of the demand curve Reading: Chapter 5 Elasticity and Demand Reading: Chapter 6

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20 Teaching / Learning Methodolo gy Assessmen t methods in Alignment with Intended learning outcomes

Applications of elasticity concept Reading: Chapter 6 Production Reading : Chapter 8 Costs Reading: Chapter 8 Managerial decisions in a competitive market Chapter 11 Managerial decisions for firms with market power Reading: Chapter 12 Managerial decisions for firms with market power Reading: Chapter 12 Strategic decision making in Oligopoly markets Reading : Chapter 13 Strategic decision making in Oligopoly markets Reading : Chapter 13 Market failures: The case of public goods Reading: Samuelson Paul and William Nordhaus, Economics, Indian adaptation by Sudip Chaudhuri and Anindya Sen, 19th edition, Tata Mcgraw Hill Publication. Chapter 11 Market failures: Asymmetry of information Reading; Samuelson Paul and William Nordhaus, Economics, Indian adaptation by Sudip Chaudhuri and Anindya Sen, 19th edition, Tata Mcgraw Hill Publication. Chapter 11 Closing session Lectures, class discussions

Specific assessment methods/tasks

% weighting

Group project Assignment

15 15

Intended subject learning outcomes to be assessed (Please tick as appropriate) a b c d e

Individual mid term test Endterm Reading List and References

30 40

Text: Thomas Christopher, S Charles Maurice and Sumit Sarkar: Managerial Economics, 9th edition, Tata McGraw Hill Publication