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Economics for B.A. Students Semester I: MJ-1 | Principle of Microeconomics - NEP 2020 Jharkhand

Economics for B.A. Students Semester I: MJ-1 | Principle of Microeconomics - NEP 2020 Jharkhand

Author : H L Ahuja

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  • ISBN : 9789358706345
  • Pages : 752
  • Binding : Paperback
  • Language : English
  • Imprint : S Chand Publishing
  • © year : 2024
  • Size : 6.50*9.25

Price : 450.00 360.00

Quantity : - +

This textbook has been designed to meet the needs of B.A. First Semester students of Economics as per Common Minimum Syllabus prescribed for Ranchi University and other universities in Jharkhand under the recommended National Education Policy 2020. Maintaining the traditional approach to the subject, this textbook comprehensively covers first semester paper, namely, 'Principles of Microeconomics'. This textbook acquaints the students with the important concepts of microeconomics such as demand, supply & market equilibrium, theory of consumer's behaviour, theory of production & cost, theory of firm & pricing in perfect competition, price & output under monopoly & imperfect competition, theory of distribution and lastly welfare economics & economic efficiency.

  • Comprehensive coverage of the syllabus
  • Written in lucid manner for better understanding of concept
  • Engaging chapter-end exercises have been provided for practice

  • The Economic Problem: Scarcity and Choice
  • The Scope of Economics
  • Free Market Economy and Other Economic Systems
  • Demand, Supply and Competitive Market Equilibrium
  • Applications of Demand and Supply Analysis
  • Elasticities of Demand and Supply
  • Applications of Elasticities of Demand and Supply
  • Consumer Surplus, Producer Surplus and Welfare
  • Consumer's Behaviour: Marshall's Cardinal Utility Analysis
  • Consumer Surplus
  • Indifference Curve Analysis of Demand
  • Cardinal Utility Analysis Vs. Indifference Curve Analysis
  • Applications and Uses of Indifference Curves
  • Revealed Preference Theory of Demand
  • Production Process and Profit-Maximising Behaviour of Firms
  • The Theory of Production: Returns to a Variable Factor
  • Production Function with Two Variable Factors
  • Least-Cost Factor Combination: Technological Choice
  • Cost of Production and Cost Curves: Short Run and Long Run
  • Market Structures and Concepts of Revenue
  • Objectives of the Firm: A General Analysis
  • Equilibrium of the Firm under Perfect Competition
  • Equilibrium of the Industry and Long-Run Supply Curve Under Perfect Competition
  • Economic Efficiency of Perfect Competition
  • Price and Output under Monopolistic Competition
  • Price and Output under Oligopoly
  • Classical Models of Oligopoly: Cournot and Bertrand's Models
  • Theory of Games and Strategic Behaviour
  • Full-Cost or Mark-up Pricing and Sales Maximisation Models
  • Price and Output under Monopoly
  • Price Discrimination
  • Drawbacks and Remedies for Monopoly
  • Market Failures and Its Sources
  • Externalities and Market Failure
  • Public Goods and Market Failure
  • Imperfect Information Problem
  • Social Choice, Role of Government and Its Inefficiency
  • Pricing of Factors (Inputs) and Distribution of Income: A General View
  • Labour Market: Determination of Wages
  • Land Market and the Theory of Rent
  • Alternative Theories of Interest
  • Theory of Profits
  • Welfare Economics and Role of Value Judgements
  • Pareto Criterion and Economic Efficiency: General Equilibrium Approach
  • Kaldors Hicks' Welfare Criterion: Compensation Principle
  • Social Welfare Function

B.A. Students

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