School

name -ID-1
SVKM’s Narsee Monjee Institute of Management Studies

Name of School – Sarla Anil Modi School of Economics

Program: B.Sc. Economics Semester : V

Course : Advanced Course Code:

Microeconomics

Teaching Scheme Evaluation Scheme

Lecture Practical Tutorial Internal Continuous Term End Examinations
(in (in (in Credit Assessment (ICA) (TEE)
hours) hours) hours) (weightage) (weightage)
55 5 4 50% 50%
Pre-requisite: Calculus and optimization techniques
Objectives: To introduce students to theoretical foundations of market economy
Outcomes:
- Students will know what a competitive market economy is, what it can achieve and where it can fail.

Session No. Theme Pedagogy References Weightage
(with
chapter
numbers)
1-4 Refreshing mathematical and microeconomic Classroom HV IM
concepts teaching Chapter
3,4,5,6 and
9
5-14 Edgeworth box economy: setting up pure Classroom HV IM 21%
exchange, Pareto optimality, core and teaching
possibility of trade, equilibrium and Chapter 31
finding out market equilibrium and class
notes

15-18 Welfare analysis of competitive economy: Classroom HV IM 7%

context and history of capitalist system, teaching
welfare theorems, implications Chapter 31
and

Class notes

19-26 General Equilibrium for one producer and one Classroom HV IM 14%
consumer economy: solving for equilibrium teaching
Welfare analysis for economy with production Chapter 32
and consumption and

Class notes

27-30 Inter-temporal choice: How consumers will Classroom HV IM 7%

maximize utility in two period framework, teaching
generalizing results of 2 period model, role of chapter 10
discount factor and
 School name -ID-1
SVKM’s Narsee Monjee Institute of Management Studies

Name of School – Sarla Anil Modi School of Economics

Class notes

31-37 Risk and Uncertainty: Lotteries, preferences Classroom HV IM 8%

over lotteries, Paradoxes teaching
Applications: Insurance and investment in Chapter 11,
risky assets 12 and 13
and

Class notes

38-45 Social choice: What is a social choice, Classroom HV IM 14%

impossibility theorem, Simple mathematical teaching
formulations of social choice functions, envy Chapter 33
and equity and

Class notes

46-50 Externalities: deviating from assumption of Classroom HV IM 14%

pure exchange economy and considering teaching
effects of externality, the discussion will aim Chapter 34
to understand market failure in the presence and
of externalities and solutions to the problems
of externality Class notes

51-55 Public Goods: How provision of public goods Classroom HV IM 15%

is different than provision of public goods, teaching
characteristics and classification of public Chapter 36
goods, some problems in provision of public and
goods
Class notes

Text Books:
Hal Varian, Intermediate Microeconomics, 8th Edition

Reference Books:
1. Reinventing the Bazaar
2. Clash of Economic Ideas
3. Economics of Welfare State
4. Affluent Society
5. Parts from Coursera course ‘Moral foundations of Political Philosophy’
 School name -ID-1
SVKM’s Narsee Monjee Institute of Management Studies

Name of School – Sarla Anil Modi School of Economics

Details of Term Work:

Components Weightages
Continuous evaluation 50%

Project / Group work 5%

Test (2 compulsory tests) 40%

Assignment 5%
Case study discussion
Any other (Pl. Specify)
End Term 50%

Prepared by Approved by

Signature : Signature
(Concerned Faculty/HOD) (Dean)