Unit - 1
Consumer theory. Preference; utility; budget constraint; choice; demand; Slutsky equation; buying and selling; choice under risk and intertemporal choice; revealed preference

Unit - 2
Production, costs and perfect competition Technology; isoquants; production with one and more variable inputs; returns to scale; short run and long run costs; cost curves in the short run and long run; review of perfect competition

References Books
1. Bernheim, B., Whinston, M. (2009). Microeconomics. Tata McGraw- Hill.
2. Snyder, C., Nicholson, W. (2010). Fundamentals of microeconomics. Cengage Learning.
3. Varian, H. (2010)

Keywords
Consumer theory, producer theory, perfect competition

Amendment as per the last meeting on 11th August, 2020
*As per the notice on DSE Website