Course Content and Outline
The major topics are
Introduction i.e. review of basic economic concepts
- Cardinal Theory.
- Ordinal Theory and
- Revealed Preference Theory
Theory of a firm
- The Conventional and other objectives of firms
- Profits and Profit theories
The theory of costs
- Key concepts under the theory of costs
- Short run costs of the traditional theory: The U- shapes of the AVC and the ATC curve, the relationship between AVC and ATC curves and the relationship between MC and ATC
Mode of instruction
This unit will be delivered to students through discussion and lecture notes under the initiative of their lecturer, and at the end of each topic, there will be a presentation in form of a tutorial being conducted by the students under the supervision of their lecturer.