Overview of Principles of Microeconomics Book

The book makes a comprehensive and analytical study of theories of demand, production/cost and determination of price and output of products in different market structures. it also discusses theory of factor pricing and income distribution as wages, rent, interest and profits. Above all, it critically analyses the conditions of economic efficiency and maximum social welfare and causes of market failures. it takes a further lead with this revision by aligning its contents with the prescribed UGC model curriculum and new Choice Based Credit System (CBCS) syllabus. The book provides carefully tailored content for undergraduate courses in economics across a range of academic disciplines. Syllabi Relevant: Updated and revised topics as per UGC model curriculum and new Choice Based Credit System (CBCS) syllabus New Chapters: Production Process and Profit-Maximising Behaviour of firms; Economic Efficiency of Perfect Competition; Remedies of Monopoly; Market Failures and its Sources; Externalities and Market Failure; Public Goods and Market Failure; Problem of Imperfect Information and Market for Lemons and Social Choice and Role of Government Student Friendly Features: Clear and comprehensive presentation and extensive use of graphs to understandably illustrate the economic principles PART I: INTRODUCTION1. The Economic Problem: Scarcity and Choice2. The Scope of Economics3. The Methodology of Economics4. Free Market Economy and Other Economic SystemsPART II: DEMAND, SUPPLY and MARKET EQUILIBRIUM5. Demand, Supply and Competitive Market Equilibrium6. Applications of Demand and Supply Analysis7. Elasticities of Demand and Supply8. Applications of Elasticities of Demand and Supply PART III: THEORY of CONSUMER S BEHAVIOUR9. Consumer s Behaviour: Marshall s Cardinal Utility Analysis10. Consumer Surplus11. Indifference Curve Analysis of Demand12. Cardinal Utility Analysis vs. Indifference Curve Analysis13. Applications and Uses of Indifference Curves14. Labour Supply and Saving DecisionsPART IV: THEORY of PRODUCTION and COST15. Production Process and Profit-Maximising Behavior of Firms16. Factors of Production17. The Theory of Production: Returns to a Variable Factor18. Production Function with Two Variable Factors19. Least Cost Factor Combination: Technological Choice20. Cost of Production and Cost Curves: Short Run and Long RunPART V: THEORY of FIRM and PRICING IN PERFECT COMPETITION21. Market Structures and Concepts of Revenue22. Objectives of the Firm A General Analysis23. Equilibrium of the Firm under Perfect Competition24. Equilibrium of the Industry and Long-Run Supply Curve under Perfect Competition25. Economic Efficiency of Perfect CompetitionPART VI: PRICE and OUTPUT UNDER MONOPOLY and IMPERFECT COMPETITION26. Price and Output under Monopoly27. Price Discrimination28. Drawbacks and Remedies for Monopoly29. Price and Output under Monopolistic Competition30. Price and Output under Oligopoly31. Classical Models of Oligopoly: Cournot and Bertrand s Models32. Theory of Games and Strategic Behaviour34. Market Failures and Its Sources35. Externalities and Market Failure36. Public Goods and Market Failure37. Imperfect Information Problem38. Social Choice, Role of Government and Its InefficiencyPART VII: THEORY of DISTRIBUTION39. Pricing of Factors (Inputs) and Distribution of Income: A General View40. Labour Market: Determination of Wages41. Land Market and The Theory of Rent42. Alternative Theories of Interest43. Theory of ProfitsPART VIII: INTERNATIONAL TRADE44. International Trade: Absolute Advantage Theory and Comparative Cost Theory45. Heckscher-Ohlin Theory of International Trade and Terms of Trade46. Trade Barriers and Free Trade versus ProtectionPART IX: WELFARE ECONOMICS and ECONOMIC EFFICIENCY47. Welfare Economics and Role of Value Judgements48. Pareto Criterion and Economic Efficiency: General Equilibrium Approach49. Kaldors Hicks Welfare Criterion: Compensation Principle50. Social Welfare Function

• Book Type :

Business&Finance

• Book Binding :

Paperback

• Language :

English

• Number of Pages :

872 pages

• ISBN - 10 :

9352533305

• Principles of Microeconomics Published On :

Jan 2016

• Resource:

Students and Professionals:Textbooks, Business&Finance

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• Principles of Microeconomics Book is not for reading online or for free download in PDF or eBook format.
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