Economics XI
Micro-economics
Introduction
5 Topics
Central Problems of an Economy
Economy and Types of Economy
Meaning of Microeconomics, Microeconomics and Positive and Normative Economics
Production Possibility Frontier
Opportunity Cost
Theory of Consumer Behaviour
13 Topics
Introduction to Theory of Consumer Behaviour
Utility in Consumer Behaviour
Cardinal utility-utility analysis
ordinal utility- Indifference Curve and the Law of Diminishing Marginal Rate of Substitution
Shapes and features of Indifference Curve
Consumer’s equilirium
Demand and factors affecting demand.
Market Demand
Shifts in the Demand Curve
movement in demnd curve
Elasticity of Demand
Degree of elasticity demand, diagramatic presenetation of elasticity of demand
Factors affecting elasticity of demand
Producer Behaviour and Supply
22 Topics
Price elasticity of supply
Measurement of price elasticity supply by Percentage or proportionate method
Forms of Market and Price Determination under Perfect Competition with simple applications.
5 Topics
Introduction of Market and its type
Perfect competition market and its features
Price determination under perfect competition market
Effect on equilibrium when change in demand and supply situation takes place
Concept of price ceiling and price flooring
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Cardinal utility-utility analysis
Economics XI
Theory of Consumer Behaviour
Cardinal utility-utility analysis
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