3 Review(s)

Vyasti Arthashastra (Micro Economics): 1. Definitions, Nature and Scope of Economics 2. Relation of Economics with other Social Sciences 3. Methods of Economic Analysis—Inductive & Deductive 4. Basic Concepts of Micro Economics 5. Utility, Marginal Utility and Total Utility, Law of Diminishing Marginal Utility and Law of Equi-Marginal Utility 6. Consumer’s Surplus 7. Indifference Curve: Characteristics and Consumer’s Equilibrium Ordinal Utility Analysis 8. Revealed Preference Theory 9. Law of Demand and its Exceptions, Giffin Goods 10. Elasticity of Demand: Price, Income and Cross Elasticity 11. Law of Supply 12. Elasticity of Supply 13. Production Function 14. Production: Law of Production and Law of Variable Proportions 15. Returns to Scale and Economies of Scale 16. ISO-Production Curve: Meaning, Characteristics and Producer’s Equilibrium 17. Concepts of Cost and Revenue: Total marginal and Average 18. Market: Meaning and Types 19. Perfect Competition—Meaning, Characteristics and Price Determination 20. Price Determination Under Monopoly 21. Price Determination Under Monopolistic Competition 22. Theories of Distribution 23. Rent 24. Wages 25. Interest 26. Profit 27. Welfare Economics: A General Introduction