3 Learners
Microeconomics is the study of the allocation of scarce resources among individuals. Economic theories are based on the assumption that individuals as well as firms have well defined objectives; utility maximization for individuals and profit maximization for firms and they act systematically according to the incentives and constraints of their economic environment. It is this framework that allows the economist to gain a fundamental understanding of the human puzzle in an economic setting. This course in the fundamentals of economics covers consumer theory, producer theory as well as the market structures through which individuals and firms interact.
Lecture-01 What is Economics ?
11mLecture-02 Resources, Wants & Scarcity
11mLecture-03 Allocation, Command, Market and Mixed Economy
10mLecture-04 Individual
10mLecture-05 Rationality, Self Interest and Optimization
10mLecture-06 Branches of Economics
12mLecture-07 Introduction to Demand & Supply
10mLecture-08 Demand
10mLecture-09 Demand:Effect of Substitutes and Complements
18mLecture-10 Market Demand Function
13mLecture-11 Factors Affecting Demand
14mLecture-12 Supply and Market Supply
17mLecture-13 Supply: Effect of Substitutes and Complements
6mLecture-14 Factors Affecting Supply
9mLecture-15 Market Equilibrium
15mFew Examples
15mLecture-17 Application: Price Control
18mLecture-18 Consumer Surplus
14mProducer Surplus?
14mTotal Surplus
10mEffect of Price Control on Surplus?
11mLecture-22 Implications of Market Equilibrium
11mLecture-23 Price Elasticity of Demand?
16mLecture-24 Elastic, Inelastic and Unit- elastic Demand
18mLecture-25 Perfectly Elastic and Perfectly Inelastic Demand
17mLecture-26 More on Elasticity
10mLecture-27 Factors Affecting Price Elasticity of Demand
10mLecture-28 Effect of Taxation
25mLecture-29 Tax Imposed on Seller
13mLecture-30 Incidence of Tax
9mLecture-31 Incidence of Tax: Four Extremes
9mLecture-32 Incidence of Tax: Effect on Surplus
14mLecture-33 Towards Consumer Theory
14mLecture-34 Budget Line and Budget Set
21mLecture-35 Factors Affecting the Budget Line
20mLecture-36 Few Examples of Changes in Budget Line
21mLecture-37 Consumption Set
15mLecture-38 Convexity of Consumption Set
18mLecture-39 Describing Utility
11mLecture-40 Some Axioms
11mLecture-41 Preferences as a Mathematical Construct
19mLecture-42 Rationality in Real Life Vs. Rationality in Economics
12mLecture-43 More on Three Axioms of Rationality?
8mLecture-44 Defining Utility Function
14mLecture-45 Ordinal Vs. Cardinal Utility
6mLecture-47 Indifference Set
15mLecture-48 Indifference Curve
10mLecture-49 Behavioural Assumption: More is Better
19mLecture-50 Properties of Preferences: Convexity
15mLecture-51 Marginal Rate of Substitution (MRS)
13mLecture-52 DMRS and Convexity: Example
10mLecture-53 Summary?
12mLecture-54 Utility Maximization
12mLecture-55 Utility Maximization: tangency criterion
9mLecture-56 More on Utility Maximization?
17mLecture-57 Utility Maximization: Example
13mLecture-58 Example Revisited
10mLecture-59 Marginal Utility Vs. Marginal Rate of Substitution (MRS)?
10mLecture-60 Perfect Substitutes
15mLecture-61 Perfect Complements
15mLecture-62 An Example with Quasi Linear Preferences
12mLecture-63 Demand Revisited
13mLecture-64 Effect of Income on Quantity Demanded
13mLecture-65 Effect of Change in Price
8mLecture-66 Substitution Effect and Income Effect
8mLecture-67 Giffen Good?
7mLecture-68 Expenditure Minimization as a Dual Problem of Utility Maximization
14mLecture-69 Marshallian and Hicksian Demand Function
8mLecture-70 Slutsky Equation
13mLecture-71 An Application: Subsidy Vs. Direct Benefit Transfer
13mLecture-72 Towards Producer Theory
15mLecture-73 Technology or Production Function
14mLecture-74 Isoquants
12mLecture-75 Few Axioms Related to Technology
9mLecture-76 Axioms/ Assumptions Continued
23mLecture-77 Production in Short Run?
8mLecture-78 Average and Marginal Product of Labour (APL & MPL)?
18mLecture-79 More on APL and MPL
20mLecture-80 Law of Diminishing Marginal Returns
10mLecture-81 Production in Long Run?
13mLecture-82 MRTS: Few Examples
10mLecture-83 Decreasing MRTS
12mLecture-84 Elasticity of Substitution
17mLecture-85 Returns to Scale
23mLecture-86 Elasticity of Scale
23mLecture-87 Economic Terminology: Opportunity Cost
8mLecture-88 Economic Terminology: Sunk Cost
17mLecture-89 Economic Terminology: Economic Profit and Accounting Profit
16mLecture-90 Diminishing Marginal Product Vs. DMRTS
8mLecture-91 Returns to Scale through Graphs
4mLecture-92 Cost in Long Run
8mLecture-93 Cost Minimization
8mLecture-94 Cost Minimization: Few Examples
11mLecture-95 Cost Minimization: Cobb-Douglas Production Function
11mLecture-96 More on Cost Minimization
10mLecture-97 Cost Function in the Long Run
10mLecture-98 Cost in Short Run: TC, FC and VC
16mLecture-99 Cost in Short Run: MC
8mLecture-100 Shape of Cost Curves
8mLecture-101 Factor Demand Function
12mLecture-102 Output Expansion Path
17mLecture-103 Cost Revisited: Quasi Fixed Cost
17mLecture-104 Cobb-Douglas Function: Cost and Returns to Scale
16mLecture-105 Short Run Vs. Long Run Cost Minimization
15mLecture-106 Short Run Vs. Long Run Cost Minimization Through Graphs
8mLecture-107 LRAC Vs. SRAC
21mLecture-108 Short Run Marginal Cost Vs. Long Run Marginal Cost
15mLecture-109 Profit Maximization
13mLecture-110 Marginal Revenue
11mLecture-111 Profit Maximization in Short Run Through Graphs
11mLecture-113 Market Environment?
10mLecture-114 Perfectly Competitive Market
8mLecture-112 Profit Maximization in Short Run Through Algebra and Calculus
12mLecture-115 Supply Curve
12mLecture-116 An example obtaining the short run supply function
8mLecture-117 Two Interpretation of Supply Function
3mLecture-118 Profit maximization implies cost minimization?
15mLecture-119 Producer Surplus Revisited
15mLecture-120 Profit Maximization and Returns to Scale
15mLecture-121 Short Run Supply Vs. Long Run Supply
8mLecture-122 Long Run Equilibrium and Supply Function
21mLecture-123 Introduction to Monopoly
19mLecture-124 Marginal Revenue of the Monopolist
14mLecture-125 Monopoly: Price Elasticity of the Demand and MR
7mLecture-126 Profit Maximization for the Monopolist
29mLecture-127 Inverse Elasticity Pricing Rule
5mLecture-128 Profit Maximization for the Monopolist through Graph
3mLecture-129 No Supply Function for Monopoly
4mLecture-130 Monopoly: Comparative Statics?
6mLecture-131 Imposition of the Tax on the Monopolist
11m