NOC:An Introduction to Microeconomics

Lecture 1 - What is Economics ?

Lecture 2 - Resources, Wants and Scarcity

Lecture 3 - Allocation, Command, Market and Mixed Economy

Lecture 4 - Individual

Lecture 5 - Rationality, Self Interest and Optimization

Lecture 6 - Branches of Economics

Lecture 7 - Introduction to Demand and Supply

Lecture 8 - Demand

Lecture 9 - Demand:Effect of Substitutes and Complements

Lecture 10 - Market Demand Function

Lecture 11 - Factors Affecting Demand

Lecture 12 - Supply and Market Supply

Lecture 13 - Supply: Effect of Substitutes and Complements

Lecture 14 - Factors Affecting Supply

Lecture 15 - Market Equilibrium

Lecture 16 - Few Examples

Lecture 17 - Application: Price Control

Lecture 18 - Consumer Surplus

Lecture 19 - Producer Surplus

Lecture 20 - Total Surplus

Lecture 21 - Effect of Price Control on Surplus

Lecture 22 - Implications of Market Equilibrium

Lecture 23 - Price Elasticity of Demand

Lecture 24 - Elastic, Inelastic and Unit- elastic Demand

Lecture 25 - Perfectly Elastic and Perfectly Inelastic Demand

Lecture 26 - More on Elasticity

Lecture 27 - Factors Affecting Price Elasticity of Demand

Lecture 28 - Effect of Taxation

Lecture 29 - Tax Imposed on Seller

Lecture 30 - Incidence of Tax

Lecture 31 - Incidence of Tax: Four Extremes

Lecture 32 - Incidence of Tax: Effect on Surplus

Lecture 33 - Towards Consumer Theory

Lecture 34 - Budget Line and Budget Set

Lecture 35 - Factors Affecting the Budget Line

Lecture 36 - Few Examples of Changes in Budget Line

Lecture 37 - Consumption Set

Lecture 38 - Convexity of Consumption Set

Lecture 39 - Describing Utility

Lecture 40 - Some Axioms

Lecture 41 - Preferences as a Mathematical Construct

Lecture 42 - Rationality in Real Life Vs. Rationality in Economics

Lecture 43 - More on Three Axioms of Rationality

Lecture 44 - Defining Utility Function

Lecture 45 - Ordinal Vs. Cardinal Utility

Lecture 46 - Properties of Preferences: Continuity

Lecture 47 - Indifference Set

Lecture 48 - Indifference Curve

Lecture 49 - Behavioural Assumption: More is Better

Lecture 50 - Properties of Preferences: Convexity

Lecture 51 - Marginal Rate of Substitution (MRS)

Lecture 52 - DMRS and Convexity: Example

Lecture 53 - Summary

Lecture 54 - Utility Maximization

Lecture 55 - Utility Maximization: tangency criterion

Lecture 56 - More on Utility Maximization

Lecture 57 - Utility Maximization: Example

Lecture 58 - Example Revisited

Lecture 59 - Marginal Utility Vs. Marginal Rate of Substitution (MRS)

Lecture 60 - Perfect Substitutes

Lecture 61 - Perfect Complements

Lecture 62 - An Example with Quasi Linear Preferences

Lecture 63 - Demand Revisited

Lecture 64 - Effect of Income on Quantity Demanded

Lecture 65 - Effect of Change in Price

Lecture 66 - Substitution Effect and Income Effect

Lecture 67 - Giffen Good

Lecture 68 - Expenditure Minimization as a Dual Problem of Utility Maximization

Lecture 69 - Marshallian and Hicksian Demand Function

Lecture 70 - Slutsky Equation

Lecture 71 - An Application: Subsidy Vs. Direct Benefit Transfer

Lecture 72 - Towards Producer Theory

Lecture 73 - Technology or Production Function

Lecture 74 - Isoquants

Lecture 75 - Few Axioms Related to Technology

Lecture 76 - Axioms/ Assumptions Continued

Lecture 77 - Production in Short Run

Lecture 78 - Average and Marginal Product of Labour (APL and MPL)

Lecture 79 - More on APL and MPL

Lecture 80 - Law of Diminishing Marginal Returns

Lecture 81 - Production in Long Run

Lecture 82 - MRTS: Few Examples

Lecture 83 - Decreasing MRTS

Lecture 84 - Elasticity of Substitution

Lecture 85 - Returns to Scale

Lecture 86 - Elasticity of Scale

Lecture 87 - Economic Terminology: Opportunity Cost

Lecture 88 - Economic Terminology: Sunk Cost

Lecture 89 - Economic Terminology: Economic Profit and Accounting Profit

Lecture 90 - Diminishing Marginal Product Vs. DMRTS

Lecture 91 - Returns to Scale through Graphs

Lecture 92 - Cost in Long Run

Lecture 93 - Cost Minimization

Lecture 94 - Cost Minimization: Few Examples

Lecture 95 - Cost Minimization: Cobb-Douglas Production Function

Lecture 96 - More on Cost Minimization

Lecture 97 - Cost Function in the Long Run

Lecture 98 - Cost in Short Run: TC, FC and VC

Lecture 99 - Cost in Short Run: MC

Lecture 100 - Shape of Cost Curves

Lecture 101 - Factor Demand Function

Lecture 102 - Output Expansion Path

Lecture 103 - Cost Revisited: Quasi Fixed Cost

Lecture 104 - Cobb-Douglas Function: Cost and Returns to Scale

Lecture 105 - Short Run Vs. Long Run Cost Minimization

Lecture 106 - Short Run Vs. Long Run Cost Minimization Through Graphs

Lecture 107 - Average Cost in Short Run Vs. Long Run

Lecture 108 - Short Run Marginal Cost Vs. Long Run Marginal Cost

Lecture 109 - Profit Maximization

Lecture 110 - Marginal Revenue

Lecture 111 - Profit Maximization in Short Run Through Graphs

Lecture 112 - Profit Maximization in Short Run Through Algebra and Calculus

Lecture 113 - Market Environment

Lecture 114 - Perfectly Competitive Market

Lecture 115 - Supply Curve

Lecture 116 - An example obtaining the short run supply function

Lecture 117 - Two Interpretation of Supply Function

Lecture 118 - Profit maximization implies cost minimization

Lecture 119 - Producer’s Surplus Revisited

Lecture 120 - Profit Maximization and Returns to Scale

Lecture 121 - Short Run Supply Vs. Long Run Supply

Lecture 122 - Long Run Equilibrium and Supply Function

Lecture 123 - Introduction to Monopoly

Lecture 124 - Marginal Revenue of the Monopolist

Lecture 125 - Monopoly: Price Elasticity of the Demand and MR

Lecture 126 - Profit Maximization for the Monopolist

Lecture 127 - Inverse Elasticity Pricing Rule

Lecture 128 - Profit Maximization for the Monopolist through Graph

Lecture 129 - No Supply Function for Monopoly

Lecture 130 - Monopoly: Comparative Statics

Lecture 131 - Imposition of the Tax on the Monopolist

Lecture 132 - Welfare Effects of Monopoly Pricing

Lecture 133 - Price Discrimination

Lecture 134 - Monopoly: Example

Lecture 135 - Responses from Policy Makers

Lecture 136 - Introduction to Oligopoly

Lecture 137 - Nash Equilibrium

Lecture 138 - Cournot Model of Duopoly

Lecture 139 - Stackelberg Model of Duopoly

Lecture 140 - Bertrand Model of Duopoly

Lecture 141 - Market Environment: Comparison Table