PART-1: INTRODUCTION: MARKETS AND PRICES
Topic 1: Basic Economic Concepts and Application to Policy
1.1 Basic Concepts
1.2 Demand and Supply
1.3 Consumer and Producer Surplus
1.4 Market Equilibrium and Efficiency
1.5 Impact of Price Controls
1.6 Impact of Taxes and Subsidies
1.7 Impact of Import Quotas and Tariffs
(Reading: P&R Chapter 1, 2 & 9 )
PART-2: CONSUMERS, PRODUCERS AND COMPETITIVE MARKETS
Topic 2: Consumer Behaviour and Market Demand
2.1 Consumer Preferences and Budget Constraints
2.2 Consumer Choice
2.3 Income and Substitution Effects
2.4 Individual and Market Demand
2.5 Network Externalities
2.6 Behavioural Economics
(Reading: P&R Chapters 3, 4 & 5)
Topic 3: Production and Costs
3.1 Production Functions
3.2 Marginal and Average Products
3.3 Returns to Scale
3.4 Costs in the Short Run and Long Run
3.5 Short-Run and Long-Run Cost Curves
(Reading: P&R Chapters 6-7)
Topic-4: Competitive Supply Competitive Markets
4.1 Conditions of Perfect Competition
4.2 Profit Maximization and the Competitive Firm
4.3 Short-Run Supply Curve
4.4 Long-Run Supply Curve
(Reading: P&R Chapters 8-9)
PART-4: MARKET STRUCTURES
Topic 5: Monopoly Power and Pricing
5.1 Monopoly Output and Price Decision
5.2 Sources of Monopoly Power
5.3 Social Cost of Monopoly
5.4 Price Discrimination
(Reading: P&R Chapters 10; Frank Chapter 12)
Topic 6: Monopolistic Competition and Oligopoly
6.1 Monopolistic Competition
6.2 Oligopoly
6.3 Game Theory and Competitive Strategy
(Reading: P&R Chapters 11-12; Frank Chapter 13 )
PART-4 MARKET FAILURE AND THE ROLE OF GOVERNMENT
Topic 7: Markets with Asymmetric Information
7.1 Asymmetric Information
7.2 Self Selection and Moral Hazard
7.3 Principal Agent Problem
(Reading: P& R Chapter 17; Frank Chapters 6 & 8)
Topic--8: Externalities, Public Goods and Role of Government
8.1 Externalities
8.2 Correcting for Externalities
8.3 Property Rights
8.4 Public Goods
9.1 Case for Government Intervention
(Reading: P & R Chapter 18; Frank Chapter 16 )