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Syllabus
Syllabus
Final exam question paper (27/09/2020) - Course Covered 50 % +
1. Imperfect Competition - with subject introduction and relevance
1. Imperfect Competition - with subject introduction and relevance
1.1 Monopolistic competition: Short run and long run equilibrium – excess capacity.
Lecture 1 - Market structure Foundation concept - Youtube Video link , PDF (26.08.2020)
Lecture 2 - Monopolistic Competition Part 1 - Youtube link , PDF (10.09.2020)
Extra - Note 1 , Note 2 , Question set 1
Lecture 3 - Monopolistic Competition Part 2 - Youtube link, PDF (15.09.2020)
Additional Notes Long run equilibrium from various Short run position in Monopolistic competition
1.2. Theory of Oligopoly
• Characteristics of oligopoly - non-collusive oligopoly models of Cournot and Stackelberg – collusive oligopoly – price leadership – market sharing
model – price rigidity under oligopoly.
2. Theory of Factor Pricing
2. Theory of Factor Pricing
• Demand for factors of production – Determinants of price elasticity of demand for a factor
Marginal productivity theory and its limitations - NOTES
Lecture 1- Theory of factor pricing and Income distribution : General View
Derived demand for Factor of production, focus is on Labour along with Mathematical explanation
Lecture 3 - with additional explanation for review part and correction in notes
Revision 3rd time, Labour demand is a derived demand and slope downward
lecture 4 - General view of Factor pricing and determinants of price elasticity of Demand for factors with additional explanation
• Theory of wage - Choice between work and leisure – derivation of individual labour supply curve – total labour supply curve – demand for labour – determination of equilibrium in a competitive labour market- collective bargaining and wage rate.
Backward bending labor Supply curve
• Theory of rent - Transfer earning and economic rent – quasi rent – Rent and price
Theory of Interest- Real and Money Interest- Loanable Fund Theory and Liquidity Preference Theory of Interest
• Theory of profit - Gross and net profit- elements of profit- risk and uncertainty theory Innovation theory of profit.
Lecture Notes - Profit (19/09/2020) Youtube Link (19/09/2020)
3. General Equilibrium and Economic Welfare (15 Lectures)
3. General Equilibrium and Economic Welfare (15 Lectures)
• Partial and general equilibrium – a formal statement of general equilibrium approach - the concept of Pareto optimum – Pareto optimality in consumption – Pareto optimality in production – General Pareto optimality condition.
Partial and General Equilibrium Notes Pdf
The concept of Pareto optimum – Pareto optimality in consumption - Youtube video link
References:
References:
1. Robert S. Pindyck, Daniel L. Rubinfeld, PremL.Mehta: Microeconomics, 7thEdn. Pearson
2. Samuelson and Nordhaus : Economics
3. Koutsoyiannis : Microeconomic Theory
4. Ferguson and Gould :Microeconomic Theory
5. H. Varian : Intermediate microeconomics
6. Henderson and Quandt : Microeconomic Theory
Internal Exam Evaluation Criteria75% Attendance is compulsory to appear for this paperNOTICE - Homework 2(link), Submission date 4th April 2020, in PDF, non submission attract -2. Students participation for this batch is lukewarm. No one has active participation for the effort made from my side to help them during this pandemic time. Since they are not doing the things as per certain minimum standards, also more than 10 students not even contact or participated for the course even after repeated reminder. Not only that, the online help is also neglected by students at large. So, I am proceeding with the presumption that they can do all things by themself. Students are requested to have a look at homework 2, read previous request for doing necessary things to proceed in telegram group. Submission date is 4th April. (24/03/2020)Previous notice -Homework 1 - Lecture 1 to 4. Submission date 02/04/2020, in PDF. It's mandatory and it will be evaluated for internal assessment. In this arrangement teaching scenario, all four coordinator ( Roshini, Subhra, Shaina and Ritika) are requested to guide their colleague over phone and not through direct meeting about the process.Since many of you not attend classes, so I'm providing Lecture 2 - With additional explanation, supplement this notes with the graph of previous lecture 2 pdf notes. Understand then write things. For any doubt you people can call me between 11 am to 1 pm.Monday homework remain cancel. New homework is to write from lecture 1 to lecture 4 and submit it on 2nd April 2020. Prepare for Presentation too. Non submission or incomplete work attract -1, and not participation in presentation will attract additional -1.This is to inform all concerned that incompliance with the press release of Hob'ble Cheif Minister, Government of West Bengal the college will remain closed from 16.03.2020 to 31.03.2020 in public interest as precautionary measure to prevent the spread of dreadful Novel Corona Virus (COVID-19). Both the hostels will also remain closed for the said period the College and Hostel will re-open on and from 01.04.2020.Cancel - Homework 1 - submission date Monday 16/03/2020 , Lecture 1,2,3. Presentation date will be specify soon. Non submission or incomplete work attract -1, and not participation in presentation will attract additional -1.Vikas got Plus 1 for class performance, so internal score stands as 5/4 for Roshini, Ritika, Subra, 3/4 for Vikash and Shaina, for others 2/4. After 2 more lecture sitting, it will be impossible for non active students to maintain 75 percent attendance implying 0/10 in the internal.First class test is on coming Thursday - 12/03/2020. Only three students participated Roshini, Ritika, Subra and all others are getting negative 2.Syllabus
Extra syllabus
Extra syllabus
I'm adding Bertrand model, and the sequence of this topic will be as follow; Characteristics of oligopoly, non-collusive oligopoly models of Cournot, Bertrand and Stackelberg; their comparison, numerical example and case study. Then we will do Paul Sweezy Model - we know it as kinked demand curve model - leading to Price rigidity under oligopoly. In case of Price rigidity, we will study about Buoyant market, impact of imposition of taxes on price rigidity, case for market expansion without affecting prices. After that we will look at collusive oligopoly ; Reason for collusion, we will discuss also two form of collusion. First one is cartel, we will do in detail with numerical example and case study. Then we will move into to look at three form of price leadership, they are a. Low cost price leadership, b. Dominant firm price leadership, and c. Barometric price leadership. In this case we will do numerical too.
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