Microeconomic Theory

Outline (see Syllabus)

1. Consumer Behavior
   1. Basic Concepts in Consumer Behavior
   2. Demand and Expenditure Functions
   3. Demand curves and elasticities
   4. Labor-Leisure Choice
   5. Labor Supply function
   6. Substitution and Income effects
   7. Revealed Preference Theory
2. Production
   1. Basic Concepts of Production
   2. Optimizing Behavior of firms
   3. Cost Functions
   4. Production Technology
3. Models of Imperfect Competition
   1. Monopoly
   2. Quasi-Competitive Solution
   3. Collusion Model
   4. Cournot Model
   5. Stackelberg Model
   6. Kinked Demand Curve Model
4. Markets under Perfect Competition
   1. Static Equilibrium
   2. Walrasian Equilibrium
   3. Marshallian Static Stability
   4. Dynamic Stability
5. Elements of Welfare Economics
   1. Pareto’s Optimality Theory
   2. Arrow’s Approach