This unit is offered in the school of economics and can be done by other courses such as Bcom, Bachelor of Arts, and BBM.

1. Consumer Behaviour

Utility Functions

Effects of changes in income and commodity price Demand Functions

Slutsky equation

Axiom of revealed preference

2. Producer Behaviour

Cost functions

Production Technology Profit maximization

Firms and industry supply

3. Market Structure

Perfect competition: partial and general competition equilibrium.

Models of imperfect competition.

Monopoly, oligopoly, contestable markets.

4. General Equilibrium and Welfare

General equilibrium in exchange and production

General equilibrium in production

General equilibrium in consumption

 

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