Undergraduate Certificate in Intermediate Microeconomics - I

Offered bySwayam

Undergraduate Certificate in Intermediate Microeconomics - I
at
Swayam
Overview

Mastering Microeconomic Theory: Analytical Skills, Policy Insights, and Strategic Analysis for Economic Decision-Making and Policy Formulation

Duration	15 weeks
Start from	Start Now
Mode of learning	Online
Difficulty level	Beginner
Official Website	Go to Website
Credential	Certificate

Undergraduate Certificate in Intermediate Microeconomics - I
at
Swayam
Highlights

Earn a certification after completion
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Undergraduate Certificate in Intermediate Microeconomics - I
at
Swayam
Course details

Who should do this course?

Individuals working in industries where microeconomic analysis is relevant, such as finance, consulting, policy analysis, and market research, who want to enhance their analytical skills

What are the course deliverables?

Gain a comprehensive understanding of the fundamental principles of microeconomics, including supply and demand analysis, consumer behavior, production theory, and market structures
Develop strong analytical skills to critically analyze economic problems and apply microeconomic models to real-world scenarios, including the ability to formulate and solve optimization problems
Acquire the ability to evaluate the impact of various economic policies and interventions on market outcomes, consumer welfare, producer surplus, and overall social welfare
Understand the behavior of firms and consumers in different market structures, including perfect competition, monopoly, monopolistic competition, and oligopoly, and analyze the implications for efficiency and equity

More about this course

In economics, especially in microeconomics, it discusses the laws of demand and how it relates to day-to-day life of an individual. It also describes the production and the different forms of costs related to it. In microeconomics, it explains about the different forms of market and also of price discrimination
The main objectives of this course are to enable the learners to explain about the theory of demand and also to discuss about the Cardinal Utility theory and the Indifference Curve theory, to describe about production and costs and also the different forms of market and price discrimination
After successful completion of the course, the learners are able to explain about the Cardinal Utility theory and the Indifference Curve theory, to describe about production and costs and also the different forms of market and price discrimination.

Undergraduate Certificate in Intermediate Microeconomics - I
at
Swayam
Curriculum

WEEK 1:

1.1 Theory of Demand

1.2 Law of Diminishing Marginal Utility

2. Demand for complementary and substitute goods

3. Budget constraint or budget line

WEEK 2:

4.1 Indifference Curves Theory

4.2 Marshallian Cardinal Utility Vs Indifference Curve Analysis

5. Application and uses of Indifference curve

6. Income effect, substitution effect and price effect

WEEK 3:

7.1 Revealed Preference Hypothesis

7.2 Deriving Demand Theorem from Revealed Preference Hypothesis

8. Derivation of Indifference curve through Revealed Preference Hypothesis

9. Deriving Law of demand by the method of compensating variation

WEEK 4:

10. Deriving Law of demand by cost difference method

11.1 Derivation of Market Demand

11.2 Elasticities of Demand- Market Demand

12. Methods of measuring elasticity of demand

WEEK 5:

13. Supply and law of supply

14. Elasticity of Supply.

15. Elasticity of substitution

16. Total Revenue, Average Revenue and Marginal Revenue

WEEK 6:

17. Slutsky Equation

18. Consumer's Surplus

19. Application of consumer surplus

20. Buying and Selling

WEEK 7:

21. Choice under Risks and Inter-Temporal Choice

22. Theory of Production

23. Production Function for a Single product

24. Laws of Diminishing Marginal Return

WEEK 8:

25. Isoquants

26. Technological Progress and the Production Function

27. Equilibrium of the firm

28. Derivation of output subject to a cost constraint

WEEK 9:

29. Minimisation of a cost for a given level of output

30. Production Function of a Multi-Product Firm

31. Returns to Scale

32. Traditional Theory of Cost - The long run cost analysis

WEEK 10:

33. Traditional Theory of Cost- The short run cost analysis

34. Modern theory of cost

35. Economies of Scale

36. Assumptions of Perfect Competition

Undergraduate Certificate in Intermediate Microeconomics - I
at
Swayam
Faculty details

Jyoti Khumanthem

Jyoti Khumanthem is an Assistant Professor in the Department of Economics at the Maharaja Budhachandra College, Imphal. She has teaching experience of 13 years. At present, she is pursuing her Ph.D in Economics on the topic “Economic Sustainability of Self-help Group in Manipur” at the Centre for Social Exclusion and Inclusive Policy, Manipur University. Her areas of interest are Development Economics, Microeconomics, etc. She has presented many papers in national and international conferences.