P3 Micro Economics Lucknow University B.com Notes

Unit 1 [Book]
Definition and Concepts of Economics: Wealth, Welfare, Scarcity and Growth Oriented definitions VIEW
Concept of Scarcity VIEW
Optimum utilization VIEW
Equilibrium and various forms of equilibrium VIEW
**Equilibrium of a Firm under Monopolistic Competition VIEW
**Price Equilibrium VIEW
Nature and Scope of Economics VIEW
Micro Economics VIEW
Macro Economics VIEW
Inductive and Deductive methods of Economics VIEW
Unit 2 Consumer Behavior and Utility Analysis [Book]
Cardinal Approach:
Indifference Curve Analysis VIEW
Law of Diminishing Marginal Utility VIEW
Law of Equi-Marginal Utility VIEW
Consumer’s equilibrium VIEW
Consumer’s surplus VIEW
Demand Analysis VIEW
Demand Analysis Types VIEW
Determinants and change in demand VIEW
Law of Demand VIEW
Exception of the Law of Demand VIEW
Demand Curve VIEW
Elasticity of Demand and Its Types VIEW
Elasticity of Demand Measurements VIEW
Ordinal Approach: Indifference curve Analysis, price, income and substitution effects VIEW
Unit 3 [Book]
Producer’s Behavior: Production and Factors of Production VIEW
Laws of Production VIEW
Law of Variable Proportions VIEW
Laws of Return to Scale VIEW
Isoquant Meaning, Assumptions and Properties VIEW
Producer’s Equilibrium through Isoquants VIEW
Cost Curves Analysis: Short run and Long run cost VIEW
Law of Supply and its Elasticity VIEW
Market: Revenue Analysis VIEW
Concept and Classification of Market VIEW
Equilibrium of Firm and industry under Perfect competition VIEW
Price Determination of Firm and industry under Perfect competition VIEW
Price Determination of Firm and industry under Monopolistic competition VIEW
Price Determination of Firm and industry under Monopoly VIEW
Price discrimination in monopoly VIEW
Unit 4 [Book]
Distribution and Factor Pricing VIEW
Factor Pricing VIEW
Theory of Marginal Productivity VIEW
Rent Theories:
Ricardian Theory, Modern Theory VIEW
Quasi Rent Theory VIEW
Wages Theories: Subsistence Theory of Wages, Wage Fund Theory, Residual Claimant Theory and Marginal Productivity Theory VIEW
Interest Theories: Gross and Net Interest, Classical Theory of Interest, Loanable Funds Theory, Liquidity Preference Theory VIEW
Profit Theories: Accounting and Economic Profit. Dynamic Theory of Profit: Risk-bearing Theory, Uncertainty Bearing Theory and Innovation Theory VIEW

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