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Positive and normative analysis -Static, comparative, and dynamic analysis -

Short run and long run analysis - Partial and General equilibrium analysis

BLOCK 2: Micro Economic and Macro Economic Concepts

UNIT 1 Micro Economic Concepts

Demand and supply- demand function - law of demand - Expansion and

contraction of demand curve – Shift in demand curve - determinants of demand

- -Supply function-law of supply- Expansion and contraction of supply curve –
Shift in supply curve - determinants of supply – Elasticity of demand and

supply

UNIT 2 Macroeconomic Concepts

Macroeconomic variables – Stock and Flow Variables - Exogenous and

Endogenous Variables- General Equilibrium and Edgeworth Box- Macro
models-Macroeconomic Goals and Instruments- Inflation-

Unemployment-Poverty

UNIT 3 Contemporary Economics

Monopoly- Oligopoly- Cartels-Mergers and Acquisitions- Multinational
Corporations
Financial Inclusion-Markets-Budget-RBI- NITI Ayog-Exchange Rate- Bilateral

and Multilateral Trade

References

Pindyck, R.S., Rubinfeld, D. L., & Mehta, P. L. (2013) Microeconomics (Seventh edition),
Pearson Education Prentice Hall.

Salvatore, D. (2003) Microeconomics Theory and Applications (Fourth Edition), Oxford

University Press.
Snyder, Christopher and Walter, Nicholson (2017) Microeconomic Theory-Basic Principles

and Extensions, Cengage Learning.
Varian, Hal R.(2010) Intermediate Microeconomics: A Modern Approach, 8th Edition, W.W

Norton and Company/ Affiliated east- West Press( India).

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