Economics XII Part-I

It is a course which offers understanding of the various principles of microeconomics. Here effort has been made to familiarize learners with the beauty of economic analysis without burdening them with the technical details. Here, there is discussion on the various aspects of consumer behaviour, producer behaviour and their interaction in the market. One such market i.e. perfect market includes discussion on how to maximize efficiency and generate surplus for both consumers and the producers. Such a market is very rare in the economy. Thus, there is also a discussion on different types of imperfect market like monopoly etc. We hope these steps will take us significantly towards the child centred education as advocated in the National Policy of Education (1986). The course will motivate the teachers to reflect on their own teaching and treat children as participant in learning. It is a course which offers understanding of the various principles of microeconomics. Here effort has been made to familiarize learners with the beauty of economic analysis without burdening them with the technical details. Here, there is discussion on the various aspects of consumer behaviour, producer behaviour and their interaction in the market. One such market i.e. perfect market includes discussion on how to maximize efficiency and generate surplus for both consumers and the producers. Such a market is very rare in the economy. Thus, there is also a discussion on different types of imperfect market like monopoly etc. We hope these steps will take us significantly towards the child centred education as advocated in the National Policy of Education (1986). The course will motivate the teachers to reflect on their own teaching and treat children as participant in learning.

Chapter No.

Module No.

Module Name

Chapter 1

Module 1

Micro economics

Assignment 1

Chapter 2

Module 2

Consumer's Budget

Module 3

Demand Theory with Utility Analysis

Module 4

Demand Theory with Indifference Curve Analysis

Module 5

Demand and Elasticity of Demand

Assignment 2

Chapter 3

Module 6

Production Function

Module 7

Law of Variable Proportions

Module 8

Concept of Cost – Part 1

Module 9

Concept of Cost – Part 2

Assignment 3

Chapter 4

Module 10

Forms of Market

Module 11

Short Run Equilibrium Under Prefect Competition

Module 12

Supply

Module 13

Elasticity of Supply

Assignment 4

Chapter 5

Module 14

Equilibrium, Excess Demand and Excess Supply

Assignment 5

Chapter 6

Module 15

Monopolistic Competition

Module 16

Monopoly

Module 17

Oligopoly

Assignment 6

Final Assessment