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