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2-YEAR FULLTIME MBA

Course Outline
Course Title: Microeconomics

Credits: 4

Area: Economics

Course Instructor(s):

Name Madhuri Saripalle


Jyoti Prasad Mukhopadhyay

E-Mail madhuri.saripalle@ifmr.ac.in
jyoti.mukhopadhyay@ifmr.ac.in

Course Objectives:

The course is structured to impart an understanding of the fundamental principles of


microeconomic theory. Microeconomics studies the decision making mechanism of individual
participants in a market economy. The course will help the students understand the principles and
rationale underlying the decision making processes of consumers and producers in a market
economy. The course will also equip students with the analytical and problem solving skills
necessary for strategically informed and rational thinking in managerial decision making.

Pedagogy: The course will consist of 20 lectures, each of 90 minutes duration. The lectures will
be primarily based on the prescribed textbook. Surprise quiz and homework assignments will be
given to the students.

Prescribed Text:

The core reading is Principles of Microeconomics, by N Gregory Mankiw, 6th Edition, Cengage
Learning (Henceforth Mankiw)

Additional Reference:
Microeconomics, by Bernheim and Whinston (henceforth BW), 2nd Edition, McGraw Hill Education.

Course Evaluation:

S.No. Component* Weightage Duration of Open Book


(%) Exam (OR)
Closed Book
1. Mid-Term Examination 30 2hrs Closed book

2. End-Term Examination 30 2hrs Closed book

3. Quiz (announced or 15
Unannounced)
4. Project Assignments

5. Class Participation 10

6. Oral Examination

7. Take home Assignments / 15


Tutorials
8. Others (please specify)

* Please refer to item 7 of IFMR Grading Policy

Session wise Details:

Session Topic Readings &


Number Cases
1. Ten Principles of Economics Mankiw: Chapter 1 pp 1 – 18

2. Thinking Like an Economist Mankiw: Chapter 2 pp 21 –


29

3. The Market Forces of Supply and Mankiw: Chapter 4 pp 65 –


Demand 85

4. Elasticity and Its Applications Mankiw: Chapter 5 pp 89 –


105

5. The Theory of Consumer Choice Mankiw: Chapter 21 pp 439


– 454

6. Technology and Production BW: Chapter 7 pp 217 – 245


(Up to implications of returns
to scale)

7. Cost of Production BW: Chapter 8 pp 253 – 287


(Before economies of scope).

8. Firms in Competitive Markets-I Mankiw: Chapter 14 pp 279


– 296

9. Firms in Competitive Markets-II Mankiw: Chapter 14 pp 279


– 296

10. Monopoly Mankiw: Chapter 15 pp 299


– 324

11. Monopolistic Competition Mankiw: Chapter 16 pp 329


– 344

12. Supply, Demand and Government Mankiw: Chapter 6 pp 111 –


Policies 128

13. Consumer, Producers and Efficiency of Mankiw: Chapter 7 pp 135


Markets – 151

14. The costs of Taxation Mankiw: Chapter 8 pp 155


– 167

15. Externalities Mankiw: Chapter 10 pp 195


– 213

16. Game Theory-I BW: Chapter 12 pp 403–437

17. Game Theory-II BW: Chapter 12 pp 403–437

18. Oligopoly-I BW: Chapter 19 pp 682–


695,699–709,716–720
(Before antitrust policy)

19. Oligopoly-II BW: Chapter 19 pp 682–


695,699–709,716–720
(Before antitrust policy)

20. Asymmetric Information. Mankiw: Chapter 22 pp 467-


485 ; Lecture slides, other
selected readings