Course Description:
This course sets foundation for studying the intermediate microeconomics and advanced microeconomics
in the forthcoming semesters. The course enables the students to get grip in the microeconomic theory via
making the conceptual foundations clear. The course starts with an introduction to microeconomic analysis
exploring the basic concepts for better understanding of more advanced theories and moves on to concepts
of demand and supply and provides foundations for consumer behaviour analysis at the intermediate level.
Foundations of production, cost and revenue analysis are followed in the subsequent module and ends with
concepts in factor market and welfare analysis. In brief the course widens the conceptual tool box of an
undergraduate student of economics so as to better experience more advanced learning of microeconomics
in the forthcoming semesters.
Course Outcomes:
1. Learn the foundational concepts in microeconomics like trade-offs and opportunity cost, nominal and real prices and the so forth for better theoretical understanding
2. Understand the basic concepts of demand and supply for analysing market dynamics
3. Understand the basic concepts of production, cost and revenue for learning the subject in the subsequent semesters
4. Learn the concepts for analysing factor markets and welfare related concepts for better learning microeconomics at the intermediate and advanced levels
5. Extend the foundational theoretical tool box of microeconomics for subsequent learning at the intermediate and advanced levels
- Teacher: Mrs. BINILA MATHEWS Economics
- Teacher: Mrs. NITHYA K Economics