Microeconomics with EduSure

Microeconomics it is a branch of economics that focuses on the behavior of individual consumers, firms, and markets. It examines how these economic actors make decisions and interact within specific markets or industries.

Objective ( Microeconomics ) :-

The purpose of this course in microeconomics is to familiarize students with the fundamental concepts of microeconomic theory, focusing on consumer behavior and the supply side of markets through the production and cost behavior of firms.

Course Units ( Microeconomics )

Unit I: Demand and Consumer Behavior ( Microeconomics )

Concept of Demand: Understanding the demand function, the law of demand, and how to derive individual and market demand curves. This unit explores how changes in determinants can shift the demand curve and delves into different elasticities of demand, including price, income, cross, and promotional elasticity.

Consumer Behavior Analysis:
Marshallian Utility Approach: Examines how consumers make choices based on utility maximization.
Indifference Curve Approach: Analyzes consumer equilibrium, price consumption curves, income consumption curves, and how consumers react to price changes through substitution and income effects.

Detailed Overview

Concepts of Revenue: TR, AR and MR
Relationship between AR (Demand Curve) and MR curve under Perfect competition
Relationship between AR(Demand curve) and MR curve under imperfect competition
Significance of the Concept of Revenue
Demand-Concept
Determinants of Demand
Law of Demand
Market Demand
Shift in Demand
Elasticity of Demand – concept
Price Elasticity of Demand
Income Elasticity of Demand
Cross Elasticity of Demand
Promotional Elasticity of Demand
Concept of Indifference Curve and Marginal Rate of Substitution
Properties of Indifference Curve
The Budget Line or Price Line
Consumer’s Equilibrium under IC Analysis
Price consumption curve and Price elasticity
Income Consumption Curve and Engle Curve
Price Change and Income and Substitution Effects
Derivation of Individual Demand Curves from IC

India’s Best Institution for MA in Economics Coaching

If you’re looking for the best coaching for MA in Economics, EduSure is the top choice in India. We specialize in preparing students for MA Economics entrance exams and have a proven track record of helping students gain admission to leading institutions. With our expert guidance, you can achieve great results in your masters in economics studies. Our dedicated team focuses on providing the best coaching for MA Economics entrance preparation, ensuring you are fully equipped to succeed in your exams.

Unit II: Production and Cost ( Microeconomics )

Production Function: Distinguishes between short-run and long-run production functions, exploring total, average, and marginal products. It covers concepts like the law of returns to a variable factor, isoquants, and iso-cost lines.

Cost Analysis:
Examines accounting and economic costs, social and private costs, and the relationship between average and marginal costs. It also discusses short-run and long-run cost curves, emphasizing their implications for firm behavior.

Detailed Overview

Production Function
Production Function with one Variable Input (SRPF)
Production Iso-quants & Marginal Rate of Technical Substitution
Iso-cost Line
The Optimal Combination of Resources (Producers Equilibrium –LRPF)
The Expansion Path
Economic Region of Production
Returns to Scale –Concept
Returns to scale using Iso-quant
Cost of Production: Social and private costs of production
Short run Cost and Cost Curve
Long run Average Cost Curve and its implications.

Unit III: Perfect Competition ( Microeconomics )

Characteristics of Perfectly Competitive Markets: Discusses the assumptions of perfect competition, conditions for profit maximization, and the relationships between total revenue (TR), average revenue (AR), and marginal revenue (MR).

Equilibrium Analysis:
Analyzes short-run and long-run equilibrium for firms and industries, including the determination of the short-run supply curve and measuring producer surplus under perfect competition.

Detailed Overview

Demand Curve of a Firm
Supply Curve of Firm and Industry-Short run and Long-run
Equilibrium of the firm in Short-run
Equilibrium of the Industry in Short-run
Equilibrium of the firm in Long-run
Equilibrium of the Industry in Long-run
Measuring producer surplus under perfect competition

Why Choose EduSure for MA Economics Entrance Coaching?

At EduSure, we offer courses designed for MA Economics entrance exams. Our programs cover essential topics, including Microeconomics, Macroeconomics, Statistics, and Econometrics. We provide a structured approach to coaching, with Level 1, Level 2, and Level 3 programs tailored to your needs. Our experienced faculty consists of alumni from top institutions like ISI and DSE, who are committed to helping you excel in your studies.

We also provide valuable resources such as mock exams, practice questions, and extensive study materials. With personalized coaching and a focus on student success, EduSure stands out as the best institute for MA in Economics in India. Join us today and take the first step towards a successful career in economics!

Unit IV: Imperfect Competition ( Microeconomics )

Monopoly: Explores the concept of monopoly, sources of monopoly power, and the short-run and long-run equilibrium of a monopoly firm. It discusses price discrimination and the social costs associated with monopoly.

Monopolistic Competition and Oligopoly:
Examines the features of monopolistic competition and provides examples. It also delves into oligopoly, discussing non-collusive oligopoly (e.g., Sweezy’s kinked demand curve model) and collusive oligopoly (e.g., cartels).