pdf 3 1 Syllabus Mumbai University by munotes
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AC- 26/07/2019
Item No. - 4.24
UNIVERSITY OF MUMBAI
Revised Syllabus for the F.Y.B.Sc. (Sem I)
Paper I
Microeconomics – I
Course: Economics
(As Per C hoice Based Credit System with effect from the academic
year 2019 -20)
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Subject: Economics
Microe conomics – I
F. Y. B. Sc. Semester – I Paper I
(Academic Year: 2019 - 20)
Preamble: This course is designed to expose t he students to the basic principles of
microeconomic theory. The emphasis will be on the development of analytical thinking with the
help of statistical tools among the students and develop the skill of application of
microeconomics concepts to analyze the real life situations.
Module - I: Introduction to Microe conomics (12 Lectures)
Microe conomics : Meaning , Scope , Nature , Importance and Limitations ; Basic Economic
Problems; Role of Price Mechanism i n a Market Economy; Positive Economics a nd Normative
Economics; Concepts of Equation, Functions, Graphs, Diagrams, Line, Slope a nd Intercept
Module - II: Ten Principles of Economics (12 Lecture s)
Trade -Off Faced by t he Individuals; Significance of Opportunity Cost i n Decision Making;
Thinking at the Margin; Responses to incentives; Benefits from Exchange; Organization of
Economic Activities through Markets and i ts Benefits; Role of Government i n improving Market
Outcomes; Dependence of Standard of Living o n Production; Growth in Quantity o f Money;
Inflation and Unemployment Trade Off
Module - III: Markets, Demand and Supply (12 Lectures)
What is a Market; What is Competition; Demand Curves: Market Demand v ersus Individual
Demand, Movements along the Demand Curve, Shifts in t he Demand Curve; Supply Curves:
Market Supply and Individual Supply, Shifts i n Supply Curve; Market Equilibrium - Thre e Steps
to Analyze Changes i n Equilibrium; Price Elasticity o f Demand, Methods of Measuring Price
Elasticity o f Demand – Total Outlay Method, Percentage Method a nd Point Method; Concepts of
Income Elasticity of Demand, Cross Elasticity of Demand and Promot ional Elasticity o f Demand
Module IV: Consumer’s Behavior (12 Lectures )
Introduction to Cardinal a nd Ordinal Approaches; Indifference Curve Analysis - Proper ties of
Indifference Curv es, Budget Line, and Consumer’s Equilibrium; Income , Price a nd Substitution
Effect; Derivation of Demand Curve; Consumer’s Surplus: Strong Ordering a nd Weak Ordering
Reference
1.N.Gregory Mankiw, (2015) , “Principles of Microeconomics” 7th edition - Cengage Learning.
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2.Sen Anindya, (2007), “Microeconomics Theory and Applications” Oxf ord University press,
New Delhi .
3. Salvator D, (2003) “Microeconomics Theory and Applications” Oxf ord University press, New
Delhi .
4. M.L.Jhingan , (2006) “Microeconomics T heory” , 5th edition Vrinda Publication (P) Ltd.
5. H.L.Ahuja, (2016) “Advance Economics Theory” S.Chand & Company Lt d.
6. Paul Samuelson and W. Nordhaus , (2009 ): Econo mics, 19th Edition McGrawHill
Publications .
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AC- 26/07/2019
Item No. - 4.23
UNIVERSITY OF MUMBAI
Revised Syllabus for the F.Y.B.Sc. (Sem I)
Paper I I
Microeconomics – II
Course: Economics
(As Per C hoice Based Credit System with effect from the
academic year 2019 -20)
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Subject: Economics
Microeconomics - II
F. Y. B. Sc. Semester – I Paper II
(Academic Year: 2019 - 20)
Preamble:
As a logical sequence to Microeconomics Paper I, this paper is aimed at giving supply side
knowled ge of Economics to the learner which will enhance their knowledge about aspects of
production, cost and revenue analysis, theories of distribution and understanding about the
market structure.
Modu le I: Production Analysis (12 Lectures )
Production Function : Concept And Types; Concepts of Total , Average and Marginal Product;
Law of Variable Proportion and Returns to Scale , Isoquant and Producer ’s Equilibrium
Module II : Cost & Revenue Analysis (12 lectures )
Concepts of Costs: Money and Real Cost, Social Cost, Private Cost, Explicit and Implicit Cost,
Opportunity Cost; Relationship between Average, M arginal and Total C ost; D erivation of Short
Run and Long Run Cost Curves; Concepts of R evenu e: Types and Interrelationship
Module III: Factor Pricing (12 lectures )
Marginal Productivity Theory o f Distribution; Rent: Ricardian Theory of Rent, Modern Theory
of Rent, Quasi Rent ; Wages: Modern Theory of Wages; Collective Bargaining; Supply Curve of
Labour; Interest: Classical Theory o f Inte rest, Loanable Funds Theory of Interest; Profit: Risk
and Uncert ainty Theory, Innovation Theory
Module IV: Equilibrium in Different Market Structure (12 Lectures )
Concept Of Equilibrium: TR - TC And MR - MC Approach ; Features of Perfect Competition;
Monopoly a nd Monopolistic Competition, Short Run and Long Run Equilibrium of Firm and
Industry under e ach Market Condition; Selling Cost a nd Wastages under Monopolistic
Competition
Note: we may include case studies and numerical examples for modules 1, 2 and 4 from
examination point of view.
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Reference
1. A. Koutsoyainnis , (2015), Modern Microeconomics , 2nd edition , Palgrave Macmillan .
2. Paul Samuelson and W. Nordhaus , (2009 ), Economics , 19th edition : Econo mics, McGrawHill
Publications .
3. Mankiw M.G (2015) , Principles of Micro economics 7th edition - Cengage Learning.
4. Anindya Sen, (2006), Microeconomics , OUP India Publisher .
5. M.L.Jhingan, ( 2006), “Microeconomics Theory” , 5th edition, Vrinda Publication (P) Ltd.
6. H.L.Ahuja, (2016 ), “Advance Economics Theory” S.Chand & Company Lt d.