BA IN ECONOMICSUniversity of Delhi
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BA IN ECONOMICS
Topic 1: Introduction Reading: Ch. 1-5
(a) Problem of scarcity and choice; Concept of Production Possibility Curve
(excluding section on index numbers).
(b) Demand & Supply: Determinants of demand, movements vs. shifts in
demand curve, Determinants of Supply, Movements along a supply curve
vs. shifts in supply curve; -Market equilibrium and price determination.
(c) Elasticity of demand and supply.
(d) Applications of demand and supply.
Topic 2: Consumer Theory Reading: Ch. 6-7 (including appendices)
(a) Cardinal Utility Theory: Concept of Utility: Marginal utility and total
utility; Consumers Equilibrium, Consumers demand curve; Consumers
surplus; Paradox of value.
(b) Ordinal Utility theory : (Indifference curve approach): Consumers
preferences; indifference curves; Budget line; Consumers equilibrium;
Income and substitution effects; Price consumption curve and the
derivation of demand curve for a commodity; Criticisms of the law of
Topic 3: Production and Costs Reading:Ch. 8 (including appendix)
(a) Production: Firm as an agent of production. Concept of production
function. Law ol variables proportions; Isoquants; Returns to scale.
Economies & Diseconomies of scale.
(b) Costs: Costs in the short run. Costs in the long run, Profit maximization
and cost minimization. Equilibrium of the firm, Technical / Technological
Change: the very long run.
PAPER II : Macroeconomics
PAPER III : Economic Development and Policy in India