Micro economics (Record no. 760603)
[ view plain ]
| 000 -LEADER | |
|---|---|
| fixed length control field | 11489nam a2200193 4500 |
| 020 ## - INTERNATIONAL STANDARD BOOK NUMBER | |
| ISBN | 9789351427957 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | English |
| 082 ## - DEWEY DECIMAL CLASSIFICATION NUMBER | |
| Classification number | 338.5 |
| Item number | KEN/M |
| 084 ## - OTHER CLASSIFICATION NUMBER | |
| Source of Number | Colon Classification |
| 100 ## - MAIN ENTRY--AUTHOR NAME | |
| Personal name | Kennedy, John. M |
| 245 ## - TITLE STATEMENT | |
| Title | Micro economics |
| 250 ## - EDITION STATEMENT | |
| Edition statement | 1 |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) | |
| Place of publication | Mumbai; |
| Name of publisher | Himalaya publishing house, |
| Year of publication | 2019. |
| 300 ## - PHYSICAL DESCRIPTION | |
| Number of Pages | 498p. |
| 505 ## - FORMATTED CONTENTS NOTE | |
| Formatted contents note | CONTENTS<br/>1.PART ONE: INTRODUCTION1. DEFINITION OF ECONOMICS<br/>Wealth Definition, Welfare Definition, Scarcity Definition, Growth Definition.<br/>2. METHODS AND NATURE OF ECONOMIC LAWS <br/>Deductive Method – Merits – Demerits – Inductive Method – Merits – Demerits – Economics as a Science – Economics as an Art – Nature of Economic Laws – Positive and Normative Approaches.<br/>3. MICRO ECONOMICS AND MACRO ECONOMICS<br/>Meaning of Micro Economics – Importance of Micro Economics – Limitations of Micro Economics – Macro Economics – Distinction between Micro and Macro Economics – Limitations of Macro Economics – Integration of Micro Economics and Macro Economics – Importance of Macro Economics.<br/>4. ECONOMY – ITS VITAL PROCESSES AND BASIC PROBLEMS<br/>What is an Economy? The Vital Functions of an Economy – Central Problems of an Economy – Production Possibility Curve – Uses of Production Possibility Curve.<br/>5. THE CONCEPT OF EQUILIBRIUM<br/>Meaning – Classification of Equilibrium – Stable, Unstable and Neutral Equilibrium – Short Run and Long Run Equilibrium – Static and Dynamic Equilibrium – Unique and Multiple Equilibrium – Partial and General Equilibrium.<br/>6. ECONOMIC STATICS AND DYNAMICS<br/>Meaning of Economic Statics – Comparative Statics – Economic Dynamics – Comparison between Economic Statics and Dynamics.<br/>PART TWO: THEORY OF CONSUMER BEHAVIOUR7. LAW OF DEMAND<br/>Meaning of Demand – Demand Function – Demand Schedule – Market Demand Curve – Types of Demand – Law of Demand – Why the Demand Curve Slopes Downwards? – Exceptions to the Law of Demand – Movement Along and Shift in the Demand Curve – Derivation of the Law of Demand from the Law of Diminishing Marginal Utility.<br/>8. CARDINAL UTILITY THEORY<br/>Meaning of Utility – Cardinal and Ordinal Utility – Assumptions of Cardinal Utility Analysis – Law of Diminishing Marginal Utility – Relationship between Marginal Utility and Total Utility – Reasons for Diminishing Marginal Utility – Assumptions of the Law – Exceptions – Importance – Law of Equi-Marginal Utility – Assumptions – Principle – Diagrammatic Explanation – Limitations – Importance – Critical Evaluation of Marginal Utility Analysis.<br/>9. INDIFFERENCE CURVE ANALYSIS<br/>Introduction – Meaning of Indifference Schedule – Indifference Curve – Indifference Map – Marginal Rate of Substitution – Diminishing MRS – Properties of Indifference Curves – Consumer’s Equilibrium – Income Effect Substitution Effect – Income and Substitution Effects of a Price Change – The Hicksian Method – The Slutskian Method – Hicksian Approach Vs. Slutskian Approach – The Giffen Paradox – Normal or Inferior Goods and Income Effects, Derivation of Demand Curve from the Price Consumption Curve – Superiority of Indifference Curves Over the Marshallian Utility Analysis – A Critical Evaluation.<br/>10. CONSUMER’S SURPLUS <br/>Introduction – Consumer’s Surplus and the Law of Diminishing Marginal Utility – Consumer’s Surplus for an Individual Consumer – Consumer’s Surplus for a Market – Consumer’s Surplus and Society – Market Price and Consumer’s Surplus – Assumptions of the Theory – Criticism – Theoretical and Practical Importance – Measurement of Consumer’s Surplus – Indifference Curve Approach.<br/>11. ELASTICITY OF DEMAND <br/>Law of Demand and Elasticity of Demand – Definition of Price Elasticity – Degrees of Price Elasticity of Demand – Co-efficient of Elasticity – Measurement of Elasticity – Factors Determining Elasticity of Demand Importance of the Concept – Other Types of Elasticity – Income Elasticity of Demand – Types of Income Elasticity.<br/>PART THREE: THEORY OF PRODUCTION12. FACTORS OF PRODUCTION <br/>Meaning of Factors of Production – Land – Meaning – Characteristics of Land – Labour – Meaning – Peculiarities of Labour – Efficiency of Labour – Capital – Meaning – Characteristics of Capital – Functions of Capital – Classification of Capital – Capital Formation – Division of Labour – Theories of population.<br/>13. SCALE OF PRODUCTION<br/>Meaning of Internal Economies – Types of Internal Economies – External Economies – Meaning and Types of External Economies – Advantages and Disadvantage of Large Scale Production – Advantages and Disadvantages of Small Scale Production.<br/>14. THE THEORY OF PRODUCTION FUNCTION<br/>Meaning of Production Function – The Law of Returns to Scale – Optimum Combination of Factors – The Law of Variable Proportions – Diminishing and Increasing Returns.<br/>15. ISOQUANTS AND THE THEORY OF PRODUCTION<br/>Meaning of Isoquants – Isoquants Schedule – Isoquant Curve – Isoquant Map – Isoquants Vs. Indifference Curves – Properties of Isoquants – Marginal Rate of Technical Substitution – Limitations – Producers Equilibrium – Isoquants and Returns to Scale.<br/>PART FOUR: THEORY OF PRODUCT PRICING16. COST AND COST CURVES<br/>Introduction – Money Cost and Real Cost – Private, External and Social Costs – Implicit Cost and Explicit Cost – Historical and Replacement Cost – Increment and Sunk Costs – Opportunity Cost – Short Run and Long Run Cost Curves – Short Run Fixed and Variable Costs – Cost Schedule – Total Fixed Cost – Total Variable Cost – Total Cost – Average Fixed Cost – Average Variable Cost – Average Cost – Why the Short Run Average Cost Curve is ‘U’ Shaped? Marginal Cost – Long Run Cost Analysis – Planning Curve – ‘L’ Shaped Long Run Average Cost Curve – Long Run Marginal Cost Curve.<br/>17. REVENUE AND REVENUE CURVES <br/>Introduction – Total Revenue – Average Revenue and Marginal Revenue – Relationship between AR and MR Curve – Under Perfect Competition – Under Imperfect Competition – Some Special Cases of Revenue Curves.<br/>18. SUPPLY<br/>Meaning of Supply – Stock and Supply – The Law of Supply – Factors Determining the Supply of a Commodity – Exceptions to the Law of Supply – Extension and Contraction in Supply – Increase and Decrease in Supply – Elasticity of Supply – Kinds of Supply Elasticity – Measurement of Elasticity of Supply – Factors Determining Elasticity of Supply – Practical Uses of Elasticity of Supply – Derivation of Supply Curve – Industry’s Supply Curve in the Short Run – Industry’s Supply Curve in the Long Run – Constant Cost Industry – Increasing Cost Industry – Decreasing Cost Industry.<br/>19. MARKET AND MARKET STRUCTURE <br/>Meaning of Market – Features of Market – Classification of Markets – Factors Affecting the Size of a Market.<br/>20. EQUILIBRIUM OF FIRM AND INDUSTRY UNDER PERFECT COMPETITION<br/>Meaning – The Assumptions of Perfect Competition – Perfect Competition in Practice – Equilibrium of the Firm – Short Run Equilibrium under Identical Cost Conditions – Different Cost Conditions – Short Run Equilibrium in Terms of TR-TC Analysis – Long Run Equilibrium – Identical Cost Conditions – Different Cost Conditions.<br/>21. PRICING UNDER PERFECT COMPETITION <br/>Introduction – Graphic Illustration – Importance of Time Element in Price Theory – The Market Period – Short Run Period – Long Run Period – Long Run Normal Price in Constant Cost Industry – Increasing Cost Industry and Decreasing Cost Industry – Secular Period – Distinction between Normal Price and Market Price.<br/>22. MONOPOLY <br/>Definition – Characteristics – Types – Causes of Monopoly – Pure Monopoly – Price and Output Decisions in the Short Run – Total Revenue – Total Cost Approach – Monopoly Equilibrium in the Long Run – Regulation of Monopoly – Monopoly and Perfect Competition Compared.<br/>23. PRICE DISCRIMINATION<br/>Meaning – Forms of Price Discrimination – Degrees of Price Discrimination – When Price Discrimination is Possible – Profitable – Effects of Price Discrimination – Is Price Discrimination Beneficial to Society? – Dumping – Meaning – Motives of Dumping – Price Output Determination under Dumping.<br/>24. MONOPSONY AND BILATERAL MONOPOLY<br/>25. MONOPOLISTIC COMPETITION<br/>Definition – Features – Equilibrium under Monopolistic Competition – Price Problem – Nature of Product – Advertising Outlay – Individual Equilibrium – Short Run Equilibrium – Long Run Equilibrium – Excess Capacity – Group Equilibrium – Problems in Group Equilibrium: Closed Entry, Open Entry – Selling Cost – Difference Between Production Cost and Selling Cost – Wastages of Monopolistic Competition.<br/>26. DUOPOLY<br/>Meaning – The Cournot Model – The Chamberlin Model – The Edgeworth Model – Hotellings Spatial Equilibrium Model. The Stackelberg Model.<br/>27. OLIGOPOLY <br/>Meaning – Main Features – Classification of Oligopoly – Price Determination under Imperfect Oligopoly (Price Leadership) – Meaning of Price Leadership – Price Leadership by a Low-Cost Firm – Price Leadership by a Dominant Firm – Barometric Price Leadership – Pricing under Perfect Collusion (Cartels) – Meaning – Price Fixing in an Ideal Cartel – Cartels and Market Sharing – Pricing under Non-collusive Oligopoly – (Kinked – Demand Curve) Reasons for Price Rigidity – Changes in Cost – Changes in Demand – Implications – Criticisms.<br/>PART FIVE: THEORY OF FACTOR PRICING<br/>28. DISTRIBUTION <br/>Meaning of Distribution – Functional and Personal Distribution – Marginal Productivity Theory of Factor Pricing – Critical Evaluation of the Marginal Productivity Theory.<br/>29. RENT <br/>Different Concepts of Rent – Ricardian Theory of Rent – Assumptions – How does Rent Arise? – Intensive Cultivation –<br/>Extensive Cultivation – Critical Evaluation of the Ricardian Theory – Quasi Rent – Differences between Rent and Quasi Rent – Modern Theory of Rent.<br/>30. WAGES<br/>Meaning – Nominal Wage and Real Wage – Factors Determining Real Wage – Subsistence Theory of Wages – The Standard of Living Theory of Wages – The Wages Fund Theory – Residual Claimant Theory – Marginal Productivity Theory of Wages – Discounted Marginal Productivity Theory – Modern Theory of Wages.<br/>31. INTEREST<br/>Definition – Gross Interest and Net Interest – Why Interest is Paid? – Marginal Productivity Theory of Interest – Abstinence or Waiting Theory of Interest – Agio Theory of Interest – Fisher’s Time Preference Theory – Classical Theory of Interest – Loanable Funds Theory of Interest – Liquidity Preference Theory of Interest – Modern Theory of Interest.<br/>32. THEORY OF PROFIT<br/>Meaning – Gross Profit and Net Profit – Rent Theory of Profit – Wage Theory of Profit – Dynamic Theory of Profit – Risk Theory of Profit – Uncertainty Bearing Theory of Profit – Innovation Theory of Profit – Marginal Productivity Theory of Profit.<br/> |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical Term | Micro economics |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| Source of classification or shelving scheme | Dewey Decimal Classification |
| Koha item type | Book |
| Withdrawn status | Lost status | Source of classification or shelving scheme | Damaged status | Not for loan | Collection code | Home Library | Current Location | Shelving location | Date acquired | Source of acquisition | Cost, normal purchase price | Full call number | Accession Number | Price effective from | Koha item type |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dewey Decimal Classification | Non-fiction | Dept. of Economics | Dept. of Economics | Processing Center | 04/03/2026 | MBC/0958/2025,DTD 11/03/2026 | 600.00 | 338.5 KEN/M | ECN17035 | 04/03/2026 | Book |