Ma Economics Micro Economics Subjects is aimed at providing knowledge on basic Ma Economics Principles, as well as applied skills to enable the students to gain decision-making.
Ma Economics Unit – I: Theory of Consumer Behavior
MA Economics Indifference curve: Income effect – Price effect – Substitution effect and slut-sky – Application and uses of indifference curves – Samuelson‟s revealed preference – Preference hypothesis and strong ordering – Deriving demand theorem– Breaking up price effective to substitution effect and income effect – Critical appraisal of the theory.
Ma Economics Unit – II: Theory of Production and Cost
Linear homogeneous production function and expansion path – Cobb-Douglas production function – The Economic region of production – ISO Cost line – Least cost contribution of factors – Choice of inputs – Output maximizing for a given level of out lay – Modern cost theory – A Critical Evaluation of L „shaped long run average cost curve concept.
Ma Economics Unit – III: Market Structure
Perfect competition, Monopoly, Monopolistic competition, Monopsony, Bilateral Monopoly, Product differentiation – Selling cost – Excess capacity under monopolistic competition – Imperfect competition – Oligopoly – Non-collusive (Cournot, Bernard, Edgeworth, Chamberlin, Kinked demand curve and Stackelberg‟s solution) and Collusive (Cartels and Mergers, price leadership and Barometric point price system).
Ma Economics Unit – IV: Market Theories – II
Marginal analysis – Price and output determination under various markets: short-run and long-run equilibrium – Firm and industry – Supply curve – Welfare aspects, Monopoly control and regulation – Contestable market – Global competition.
Ma Economics Unit – V: Alternative Theories of Firm
Ma Economics Critical evaluation of marginal analysis – Baumol‟s sales revenue maximization and Williamson‟s model of managerial discretion – Marris model of managerial enterprise – Full Cost Pricing Rule, Bains Limit Pricing Theory – Sylos-Labini‟s Model – Behavioral Model of the Firm – Cyert and March.
Ma Economics : Macro Economics
Being an important segment in economic theory, the students will benefit enormously. The components, designed in this paper are largely model based.
Unit – I: Basic Concepts
Introduction – Need for a Separate Study of Macro Economics – National
Income – Circular Flow of Income – National Income and National product –
Measurement of National Income – Difficulties in the Measurement of National Income –National Income and Measure of Welfare.
Unit – II: Macro Economic Theories – I
The Classical Theory of Employment – Say‟s Law of Markets – Aggregate Demand and Supply (Two, Three and Four Sector Model) – The Consumption Function- Keynes Psychological Law of Consumption – The Marginal Efficiency of Investment (MEI) – Relation Between the MEC ( Central Stock ) and the MEI ( Investment) – Factors Other than the Interest Rate Affecting Inducement to Invest –Income Determination in Closed and Open Economy – The Keynesian Theory of Income, Output and Employment.
Unit – III: Macro Economic Theories – II
Ma Economics Savings and Investment Equality (The Classical and Keynes criticism of the view) – The Accelerator Theory of Investment – Lags in Investment – Koyek‟s Approach – Financial Theories of Investment –Multiplier and Accelerator.
Unit – IV: Ma Economics Post-Keynesian Developments in Macro Economics
IS-LM Curve Model – The Derivation of the IS Curve – Shift in the IS Curve –
The LM Curve – Shift in the LM Curve – Intersection of the IS and LM Curves –
Phillips Curve – Long-run Phillips Curve and Rational Expectations Theory – Numerical Problems of IS curve – Two and three sector model – Derivative of LM curve – Determination of Income and Interest Under IS Curve.
Unit – V: Supply Side Economics (Ma Economics)
Supply Side Economics – Taxation and Labour Supply- Reagan Economics and
Supply Side Economics- Reducing the Burden of Government Regulations –
Increasing Growth Rate – Effect on the Distribution of Income.