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The concept of Microeconomics revolves around the behaviour of market. The answers of questions such as, how prices are determined and what leads to change in the prices so determined provide the subject matter of microeconomics. This book is an effort to bring together all the related topics in a careful manner. The book provides an extensive approach towards the concepts of demand and supply, product pricing, elasticity of demand and supply, marginal utility, etc. The book is divided into twelve chapters. It has been developed keeping in view the requirements of graduate level students, as the book covers the syllabus of microeconomics, as prescribed for the BCom (Hons) I year course of the University of Delhi. The book is written with the objective to supplement the classroom teaching. It has been written in a manner as if lectures are being delivered. Given at the end of each chapter are the University examination questions, with solutions to the numerical questions at the end of the book. The book would prove to be equally useful for all microeconomics courses at the graduation level across all the universities in India.
This book is intended to be a comprehensive and standard textbook for undergraduate students of Microeconomics. Apart from providing students with sufficient study material for examination purpose, it aims at making them understand economics. An effort has been made to explain abstract and complex microeconomic theories in a simple and lucid language without sacrificing analytical sophistication. The subject matter has been structured in a systematic manner without leaving gaps for the readers to fill in. Though the approach is non-mathematical, simple algebra has been used to give a concrete view of economic concepts and theories and to show the applicability of economic theories in decision making.
Examining a broad spectrum of topics in development economics, this text combines the strength of conventional developmental thought with the insights of contemporary mainstream economics.
This advanced economics text bridges the gap between familiarity with microeconomic theory and a solid grasp of the principles and methods of modern neoclassical microeconomic theory.
Human Action—a treatise on laissez-faire capitalism by Ludwig von Mises—is a historically important and classic publication on economics, and yet it can be an intimidating work due to its length and formal style. Choice: Cooperation, Enterprise, and Human Action, however, skillfully relays the main insights from Human Action in a style that will resonate with modern readers. The book assumes no prior knowledge in economics or other fields, and, when necessary, it provides the historical and scholarly context necessary to explain the contribution Mises makes on a particular issue. To faithfully reproduce the material in Human Action, this work mirrors its basic structure, providing readers with an enjoyable and educational introduction to the life's work of one of history's most important economists.
Microeconomics: Theory and Applications provides a comprehensive and authentic text on the theory and applications of microeconomics. The book has been thoroughly revised with new chapters and sections added at appropriate places and meets the study requirements of regular students of microeconomics and of those preparing for competitive examinations. An effort has been made to present microeconomic theories lucidly and comprehensively and to delineate the application of microeconomic theories to business decision-making and to analyse the economic effects of indirect taxes, subsidy and pricing policies of the government. Key Features • Coverage of all topics taught in Indian universities and business schools • Complex theories are explained with self-explanatory diagrams • Plenty of numerical problems • Questions from various universitiy question papers are given at the end of each chapter New in this Edition • More examples and mathematical treatment of economic theories • Substantial revision and updating of several chapters • Two additional chapters: (i) Application of Competitive Market Theory, (ii) Theory of Sales Maximization and Game Theory
Microeconomics focuses on individual units like a consumer, a producer, a firm/industry, a commodity, etc. It analyses the behaviour of one market variable at a time. In microeconomics, the commodity markets are divided into perfect competitive markets and imperfect markets. 'Microeconomic Theory and Application (Part II)' deals with imperfect markets that are broadly classified into monopoly, monopolistic competition and oligopoly. Apart from this, the book also deals with the concept of factor pricing and its various aspects, in detail. This book supplements the classroom teaching and has been developed as per the syllabus of Bcom (Hons) II year course of the University of Delhi. The book would prove to be equally useful for all microeconomics courses at the graduation level across all the universities in India.
Microeconomics is intended to be a comprehensive and standard text for undergraduate students of Microeconomics. Not only does this book provide students with sufficient study material for the examination purpose, it also aims at making them understand economics.