Sunderlqand

| Course Objective: Being one of the building block courses in management education, this course attempts to provide the basic tools, concepts and insights to understand the anatom y, behavior and functioning of all major microeconomic units from the viewpoint of a business firm. Not onl y does the course purport to explain wh y 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. Pedagogy: This course is full of concepts and techniques, and is in highly condensed form. Accordingl y, it would be largel y lecture-cum discussion based, though an attempt would be made to solve selected numerical examples in class. Student groups are strongl y 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 an y problems in solving exercises. Students are also advised to follow caselets given in the text to test their understanding. 2.

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Evaluation: Mid Term Exam (covering sessions 1 – 10) End Term Exam (covering sessions 11 – 20) Quizzes Class presence and preparedness Session Details

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Slot 1 Session 1: 7 t h July, 2011 Introduction and concepts of Demand & Supply Session 2: 8 t h July, 2011 Consumer Behavior – 1 Sessions 3: 14 t h July, 2011 Consumer Behavior – 2 Session 4: 15 t h July, 2011 Production and Costs – 1

Introduction, La w of de mand, Law of suppl y, concept of elasticity Ch. 1, pp. 4 – 11, Ch. 2, pp. 20 – 42 Utility, Preferences, Budget constraint, Indif ference curve s, Consumer choice Ch. 3, pp. 61 – 86, pp. 89 – 94 Nor mal, Superior and Inferior goods, Substitutes and comple me nts, Income and Substitution effect s, Cons umer surplus, bandwa gon and snob...