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Economics First Semester Syllabus

Module 1: Introduction to Micro Economics 

Module 2: Theories of Consumer’s Behaviour 

Module 3: Theory of Demand and Supply 

  • Demand: Meaning, Law 
  • Demand: Schedule, Curve 
  • Exceptions to the Law of Demand 
  • Factors Influencing Demand 
  • Increase and Decrease in Demand 
  • Extension and Contraction of Demand 
  • Elasticity of Demand: Meaning and Types 
  • Measurement of Elasticity of Demand (with simple calculations) 
  • Supply: Meaning, Law 
  • Supply: Schedule, Curve 
  • Factors Influencing Supply 
  • Extension and Contraction of Supply 
  • Elasticity of Supply 
  • Increase and Decrease in Supply

Module 4: Cost and Revenue Analysis 

  • Production Function 
  • The Law of Variable Proportions 
  • The Law of Returns to Scale 
  • Cost: Meaning, Types 
  • Real Cost 
  • Opportunity Cost (in relation to Module 4) 
  • Fixed, Variable Cost and Total Cost 
  • Marginal Cost and Average Cost 
  • Costs Calculations (Simple Calculations) 
  • Cost Curves 
  • Revenue: Types, Marginal, Average, Total Revenue, Revenue Curves

Module 5: Production and Factor Pricing 

  • Pure Competition and Perfect Competition (Features Price and Output Determination, Role of Time Element, Graphs) 
  • Monopoly (Features, Types, Price and Output Determination, Discriminating Monopoly, Graphs) 
  • Monopolistic Competition 
  • Product Differentiation 
  • Oligopoly (Features, Collusive and Non-Collusive Oligopoly, Graphs) 
  • Cartels and Price Leadership 
  • Marginal Productivity Theory of Distribution 
  • Modern Theory of Distribution
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Fathimath Sama
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