Tag: Laws of Variable Proportion

Categories
First Semester

BPA 104: Microeconomics

The objective of this course is to prepare students able to understand, explain, and apply the concepts and tools of microeconomics in economic analysis. Thus, the course has been designed to equip the students with analytical tools of microeconomics.

Contents
  1. Introduction
    • Concept of economics
    • Concept and Scope of Micro-economics
    • Importance and Uses of Microeconomics
  2. Theory of Consumer’s Behavior and Demand Analysis
    • Concept of consumer’s behavior
    • Concept and Types of Demand
    • Determinants of Demand and Demand Function
    • Concept of Elasticity: price, income and cross elasticity of Demand and its Measurement
    • Utility Analysis: Concept of cardinal and ordinal utility analysis
    • Marginal Rate of Substitution
    • Consumer’s Equilibrium Production: Production Function
    • Laws of variable proportion; Laws of returns to scale.
  3. Costs and Revenue Analysis
    • Concepts of Costs
    • Short Run Cost Curves
    • Long Run Cost Curves
    • Concept of Revenue
    • Revenue Curves under Perfect and Imperfect Competition
  4. Theories of Factor Pricing
    • Modern theory of rent
    • Marginal productivity theory of wages
    • Loanable fund theory and liquidity preference theory of interest
    • Dynamic and innovation theory of profit
  5. Market and Supply Analysis
    • Market analysis: Concept of perfect and imperfect competitive market
    • Supply analysis: Concept of Supply
    • Determinants of Supply
References
  • Dahal, M. Neupane, B. and Poudel, M. (2011). Micro Economics. Kathmandu: Asia Publications Pvt. Ltd. (in Nepali)
  • Dewett K. K. & Verma J. D (latest edition). Elementary Economic Theory. India: S. chanda & Company Ltd.
  • Dewett, K. K. (2005). Modern Economic Theory. New Delhi: S. Chand & Company Ltd.
  • Ghingan, M. L. (2000). Advanced Economic Theory. New Delhi: Vrinda Publication (P) Ltd.
  • Gregory, N. (2008). Principle of Microeconomics. New Delhi: Cengage Learning India Private Limited.
  • Jhingan, M. C. (2009). Microeconomic Theory. New Delhi: Vrinda Publication (P) Ltd.
  • Paudyal, Kabita et. al. (2017), Microeconomics, Kathmandu: Sopan Publication.
  • Joshi, S. (2008). Microeconomics. Kathmandu: Taleju Prakashan.
  • Koutsoyiannis, A. (2011). Modern Microeconomics. London: Macmillon Press Ltd.
  • Mithani, D. M. (2010). Principle of Economics. New Delhi: Himalayan Publishing House India.