I Ba (Cbcs Pattern) - Semester System

ANDHRA UNIVERSITY

I BA (CBCS PATTERN) - SEMESTER SYSTEM

ECONOMICS

Semester - I HOURS : 6 CREDITS : 6

Title : Micro Economics - I

UNIT I : Nature, definition and scope of Economics - Wealth, Welfare, Scarcity and modern definitions.

UNIT 2: Methodology in Economics - Micro and Macro; Static and Dynamic analysis; Normative and

positive science, Inductive and Deductive methods; Partial and General Equilibrium.

UNIT - 3: Utility analysis - Cardinal approach - Law of Diminishing marginal utility - Concept of consumers

surplus - law of Equi marginal utility.

UNIT - 4: Demand analysis - Law of demand - Elasticity of demand - measurement of elasticity of

demand - Price, Income and Cross Elasticities of demand.

UNIT -5: Indifference curve analysis - Properties of indifference curves - Price or budget line -

Equilibrium of consumer with the help of indifference curves.

TEXT BOOKS:

1. Telugu Academy - Micro Economics

2. A.U. S.D.E. Study Material - Micro Economics

3. Mithani & G.K.Murthy - Business Economics 2015

REFERENCES:

1. R.G. Lipsey and K.A.Chrysal - "Economics" Oxford University Press, 10/e 2009

2. P.A.Samuelson & W.D.Nordhaus - "Economics" Tata Mc.Graw Hill, 18/e, 2010

3. N.Gregory Mankiw - "Principles of Economics", Thompson, 4/e, 2013

4. H.L.Ahuja - "Advanced Economics theory" S.Chand, 2010

5. M.L.Seth - "Micro Economics", Laxmi Narayana Agrawal, 2012

6. Bilas, A. - "Micro Economic theory", International Student edition, Mc.Graw Hill, 1971

7. Dictionay of Economics - Oxford University Press.

ANDHRA UNIVERSITY

I BA (CBCS PATTERN) - SEMESTER SYSTEM

ECONOMICS

Semester - II HOURS : 6 CREDITS : 6

Title : Micro Economics - II

UNIT I : Production function - Concept of Cobb-Douglas production function - Law of variable

proportions- law of returns to scale- Different cost concepts- Diagrammatic presentation cost

curves- Revenue concepts with diagrams.

UNIT 2: Perfect competition - Price determination and equilibrium under perfect competition-

Monopoly - Price determination - Price discrimination.

UNIT - 3: Monopolistic competition - Price determination - Oligopoly - Kinked demand curve approach.

UNIT - 4: Marginal Productivity theory of distribution - Theories of wage determination - Wages and

collective bargaining - Concept of minimum wage.

UNIT -5: Ricardian theory of rent - Quasi rent concept of Alfred Marshall - Interest - Classical, Neo-

Classical and Keynesian theories - Profit - Dynamic, Innovations, Risk and Uncertainty theories.