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B.A (H) ECONOMICS
2019-2022
SEMESTER I
Course Code: BEH 101: Introductory Microeconomics (Core Course)
Credits 5
L. T.P
4.1.0
Course Outcomes:
After completing this course the students will be able to:
1. Learn the basic principles of microeconomic theory.
2. Understand the efficiency and equity implications of market interference, including
government policy.
3. Apply micro economic tools in solving socio- economic problems.
4. Analyze how households (demand) and businesses (supply) interact in various market
structures to determine price and quantity of a good produced.
5. The students will also be made aware of evaluating how microeconomic concepts can
be applied to analyze real life situations.
6. Create & develop the skills to think practically into the economic domain like an
economist.
UNIT 1: Subject matter of Economics
Why study economics? Scope and method of economics; the economic problem: scarcityand
choice; the question of what to produce, how to produce and how to distribute output;Science
of economics; the basic competitive model; prices, property rights and profits;Incentives and
information; rationing; opportunity sets; economic systems; reading andworking with graphs.
UNIT 2: Demand & Supply
Markets and competition; determinants of individual demand/supply; demand/supply
Schedule and demand/supply curve; market versus individual demand/supply; shifts in
theDemand/supply curve, demand and supply together; how prices allocate
resources;Elasticity and its application; controls on prices; taxes and the costs of taxation;
Consumer Surplus; producer’s surplus and the efficiency of the markets.
UNIT 3: Consumer Behaviour
The consumption decision - budget constraint, consumption and income/price
changes,demand for all other goods and price changes; description of preferences
(representingpreferences with indifference curves); properties of indifference curves;
consumer‘soptimum choice; income and substitution effects; labour supply and savings
decision -choice between leisure and consumption.
UNIT 4: Markets
Behavior of profit maximizing firms and the production process; short run costs andoutput
decisions; costs and output in the long run.Imperfect Market Structure Monopoly and anti-
trust policy; government policies towards competition; imperfectcompetition.
UNIT 5: Labour Markets
Labour and land markets - basic concepts (derived demand, productivity of an input,marginal
productivity of labour, marginal revenue product); demand for labour; inputdemand curves;
shifts in input demand curves; competitive labour markets; and labour markets and public
policy.
Suggested Readings
1. Karl E. Case and Ray C. Fair, Principles of Economics, Pearson Education Inc., 8th
Edition, 2007.
2. N. Gregory Mankiw, Economics: Principles and Applications, India edition by South
Western, a part of Cengage Learning, Cengage Learning India Private Limited, 4th edition,
2007.
3. Joseph E. Stiglitz and Carl E. Walsh, Economics, W.W. Norton & Company, Inc.,
New York, International Student Edition, 4th Edition, 2007.
B.A (H) ECONOMICS
(2019-2022)
SEMESTER I
Course Code: BEH 102: Mathematical Methods in Economics – I (Core Course)
Credits 5
L.T.P
4.1.0
Course Outcomes:
After completing this course the students will be able to:
1. Learn the basic mathematical methods related to economics.
2. Understand about applications of differentiation and integration in economic
analysis.
3. Analyze and apply the mathematical fundamentals into the real work scenario.
4. Develop the skills towards learning statistical and econometric principles.
5. Evaluate the applied anatomy of mathematical foundations related to the field of
economics.
6. Create and develop analytical skills to solve macroeconomic and microeconomic
theories by applying mathematical tools.
Unit I Sets & Functions
Sets; types of sets and set operations; Cartesian product of two sets; relations; functions and
their properties.
Unit II Functions of one real variable
Elementary types of functions: quadratic, polynomial, power, exponential, logarithmic;
continuous functions: properties with respect to various operations, graphs and applications,
Sequence and series: convergence, algebraic properties and applications.
Unit III Differentiation
Basic concept and rules of differentiation; second and higher order derivatives: properties and
applications; Maxima and minima involving one independent variable relating to cost,
revenueand profit. Some basic industrial applications.
Unit IV Integration
Basic integration formulae; evaluation of integration by methods of substitution and by parts.
Indefinite integrals and the definite integral, area under the curves.
Unit V Difference equations
Introduction; definitions; formation of difference equations and solutions of linear difference
equations.
Suggested Readings:
1. K. Sydsaeter and P. Hammond, Mathematics for Economic Analysis, Pearson Educational
Asia: Delhi, 2002.
2. T. Bradley, Essential Mathematics for Economics and Business, 2ndedition revised, John
Wiley and Sons, India, 2014
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