Programme PGP & PGP-FABM Term I Academic Year 2021-22

Course title Microeconomics Area Economics Credits 1.25

Prof. Jeevant Rampal,
Prof. Pritha Dev,
Prof. Satish Deodhar,
Prof. Tarun Jain

Course Description & Objectives
Being one of the building block courses in management education, this course attempts to provide the basic tools, concepts and insights to understand the anatomy, behavior and functioning of all major microeconomic units from the viewpoint of a business firm. Not only does the course purport to explain why a firm exists and how it is evolving over time and space, but it also tries to demonstrate how a firm does in its own interest and ought to read and handle its customers, its rivals and above all, government policy. The course would deal with demand, production, cost and pricing theories and practices.

This course is full of concepts and techniques, and is in highly condensed form. Accordingly, it would be largely lecture-cum discussion based, though an attempt would be made to solve selected numerical examples in class. Student groups are strongly advised to learn from solved exercises in text and also try to solve exercises at the end of each chapter in the text. They may consult TAs for the course in case they face any problems in solving exercises. Students are also advised to follow caselets given in the text to test their understanding.